Germany: Road Wheel Market 2024

Road Wheel Market Size in Germany

In 2022, the German road wheel market increased by 35% to $X, rising for the second year in a row after three years of decline. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Road Wheel Production in Germany

In value terms, road wheel production skyrocketed to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. Road wheel production peaked at $X in 2018; afterwards, it flattened through to 2022.

Road Wheel Exports

Exports from Germany

In 2022, exports of road wheels from Germany dropped to X tons, which is down by -9.3% on the previous year's figure. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 12%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, road wheel exports dropped to $X in 2022. The total export value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 19%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X tons), Sweden (X tons) and France (X tons) were the main destinations of road wheel exports from Germany, together accounting for 39% of total exports. Luxembourg, Poland, Austria, the Netherlands, Slovakia, the Czech Republic, Spain, the UK, the United States and Hungary lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +13.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), France ($X) and Sweden ($X) constituted the largest markets for road wheel exported from Germany worldwide, together accounting for 29% of total exports. Austria, the United States, Slovakia, the UK, Poland, the Netherlands, the Czech Republic, Luxembourg, Hungary and Spain lagged somewhat behind, together comprising a further 45%.

Hungary, with a CAGR of +22.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average road wheel export price amounted to $X per ton, remaining stable against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2018 an increase of 9.6% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Road Wheel Imports

Imports into Germany

In 2022, purchases abroad of road wheels increased by 1.8% to X tons, rising for the second consecutive year after three years of decline. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 15% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, road wheel imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 22%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X tons), Poland (X tons) and Italy (X tons) were the main suppliers of road wheel imports to Germany, together comprising 50% of total imports. The Czech Republic, Austria, Hungary, Denmark, China, France, the Netherlands, the UK, Spain and South Korea lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +14.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Poland ($X) and Italy ($X) appeared to be the largest road wheel suppliers to Germany, with a combined 49% share of total imports. Austria, the Czech Republic, Hungary, China, the Netherlands, France, Denmark, South Korea, the UK and Spain lagged somewhat behind, together accounting for a further 39%.

In terms of the main suppliers, South Korea, with a CAGR of +15.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average road wheel import price stood at $X per ton in 2022, with an increase of 7.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 8.5%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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