EU: Road Wheel Market 2024

Road Wheel Market Size in the EU

In 2022, the EU road wheel market increased by 19% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in years to come.

Road Wheel Production in the EU

In value terms, road wheel production soared to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Road Wheel Exports

Exports in the EU

In 2022, approx. X tons of road wheels were exported in the European Union; with a decrease of -5.8% against the previous year. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 10% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, road wheel exports declined slightly to $X in 2022. The total export value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 19%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany represented the largest exporter of road wheels in the European Union, with the volume of exports amounting to X tons, which was approx. 31% of total exports in 2022. It was distantly followed by Poland (X tons), Italy (X tons), the Czech Republic (X tons), Hungary (X tons), France (X tons) and Austria (X tons), together committing a 47% share of total exports. Luxembourg (X tons), Spain (X tons), the Netherlands (X tons), Denmark (X tons), Belgium (X tons) and Romania (X tons) followed a long way behind the leaders.

Germany experienced a relatively flat trend pattern with regard to volume of exports of road wheels. At the same time, Hungary (+9.2%), Luxembourg (+6.6%), Austria (+4.0%), Poland (+3.4%) and Denmark (+1.7%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +9.2% from 2012-2022. Spain and the Netherlands experienced a relatively flat trend pattern. By contrast, Romania (-1.6%), Italy (-1.6%), the Czech Republic (-1.7%), France (-4.7%) and Belgium (-8.2%) illustrated a downward trend over the same period. While the share of Poland (+3.8 p.p.), Hungary (+3.6 p.p.), Luxembourg (+1.8 p.p.) and Austria (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Italy (-1.6 p.p.), Germany (-2.4 p.p.), Belgium (-3.2 p.p.) and France (-3.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest road wheel supplier in the European Union, comprising 32% of total exports. The second position in the ranking was taken by Poland ($X), with a 12% share of total exports. It was followed by Italy, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Germany totaled +1.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Poland (+3.6% per year) and Italy (+1.1% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, picking up by 4.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2021 when the export price increased by 8.5% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+8.2%), while the other leaders experienced more modest paces of growth.

Road Wheel Imports

Imports in the EU

In 2022, road wheel imports in the European Union shrank to X tons, approximately equating the previous year. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 14% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, road wheel imports rose markedly to $X in 2022. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 23% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) represented the main importer of road wheels, creating 33% of total imports. France (X tons) ranks second in terms of the total imports with an 8.3% share, followed by Italy (7.9%), Spain (6.9%), the Czech Republic (5.7%) and Belgium (4.8%). Slovakia (X tons), Sweden (X tons), Poland (X tons), the Netherlands (X tons), Austria (X tons), Luxembourg (X tons) and Romania (X tons) followed a long way behind the leaders.

Germany experienced a relatively flat trend pattern with regard to volume of imports of road wheels. At the same time, the Czech Republic (+6.4%), Luxembourg (+5.5%), Spain (+2.9%), Romania (+2.7%), Slovakia (+2.3%), Italy (+1.6%), Austria (+1.4%) and Poland (+1.0%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing importer imported in the European Union, with a CAGR of +6.4% from 2012-2022. Sweden experienced a relatively flat trend pattern. By contrast, France (-1.9%), the Netherlands (-2.3%) and Belgium (-6.0%) illustrated a downward trend over the same period. While the share of the Czech Republic (+2.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of France (-2.2 p.p.), Germany (-2.8 p.p.) and Belgium (-4.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported road wheels in the European Union, comprising 32% of total imports. The second position in the ranking was held by France ($X), with an 8.1% share of total imports. It was followed by Belgium, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany stood at +1.0%. The remaining importing countries recorded the following average annual rates of imports growth: France (+0.1% per year) and Belgium (-1.3% per year).

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per ton, surging by 5.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2018 when the import price increased by 14%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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