Eastern Asia: Road Wheel Market 2025

Road Wheel Market Size in Eastern Asia

In 2022, the East Asian road wheel market increased by 0.9% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, saw a pronounced contraction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Road Wheel Production in Eastern Asia

In value terms, road wheel production reduced to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a slight decline. The most prominent rate of growth was recorded in 2016 with an increase of 14% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Road Wheel Exports

Exports in Eastern Asia

Road wheel exports contracted to X tons in 2022, reducing by -7.4% compared with 2021. The total export volume increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when exports increased by 41%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, road wheel exports amounted to $X in 2022. The total export value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 34%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

China dominates exports structure, resulting at X tons, which was approx. 90% of total exports in 2022. The following exporters - South Korea (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) - together made up 10% of total exports.

China was also the fastest-growing in terms of the road wheels exports, with a CAGR of +1.9% from 2012 to 2022. Taiwan (Chinese) (-1.1%), South Korea (-3.5%) and Japan (-5.2%) illustrated a downward trend over the same period. While the share of China (+6.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (-2.3 p.p.) and Japan (-3.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest road wheel supplier in Eastern Asia, comprising 86% of total exports. The second position in the ranking was taken by South Korea ($X), with a 4.9% share of total exports. It was followed by Taiwan (Chinese), with a 4.8% share.

In China, road wheel exports increased at an average annual rate of +3.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (-1.8% per year) and Taiwan (Chinese) (-0.0% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, picking up by 9% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2016 an increase of 22% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.8%), while the other leaders experienced more modest paces of growth.

Road Wheel Imports

Imports in Eastern Asia

In 2022, imports of road wheels in Eastern Asia contracted modestly to X tons, approximately mirroring 2021. The total import volume increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 23% against the previous year. As a result, imports attained the peak of X tons, leveling off in the following year.

In value terms, road wheel imports expanded rapidly to $X in 2022. The total import value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 34% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

Japan represented the major importer of road wheels in Eastern Asia, with the volume of imports accounting for X tons, which was approx. 68% of total imports in 2022. South Korea (X tons) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by China (5.7%) and Taiwan (Chinese) (5.2%).

Imports into Japan increased at an average annual rate of +1.1% from 2012 to 2022. At the same time, South Korea (+12.7%) and Taiwan (Chinese) (+6.6%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +12.7% from 2012-2022. By contrast, China (-3.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea and Taiwan (Chinese) increased by +13 and +1.7 percentage points, respectively.

In value terms, Japan ($X) constitutes the largest market for imported road wheels in Eastern Asia, comprising 69% of total imports. The second position in the ranking was held by South Korea ($X), with a 17% share of total imports. It was followed by China, with a 9.4% share.

In Japan, road wheel imports increased at an average annual rate of +1.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+14.0% per year) and China (-2.8% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, picking up by 6.6% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 8.9%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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