Southern Asia: Road Wheel Market 2025

Road Wheel Market Size in Southern Asia

The South Asian road wheel market contracted to $X in 2022, declining by -3.8% against the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Road Wheel Production in Southern Asia

In value terms, road wheel production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 16% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Road Wheel Exports

Exports in Southern Asia

In 2022, approx. X tons of road wheels were exported in Southern Asia; waning by -8.1% on the year before. Overall, exports, however, showed a tangible increase. The growth pace was the most rapid in 2021 with an increase of 165%. As a result, the exports attained the peak of X tons, and then reduced in the following year.

In value terms, road wheel exports shrank to $X in 2022. Over the period under review, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 99%. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

India prevails in exports structure, recording X tons, which was approx. 98% of total exports in 2022. Sri Lanka (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the road wheels exports, with a CAGR of +5.1% from 2012 to 2022. Sri Lanka (-2.5%) illustrated a downward trend over the same period. India (+2.5 p.p.) significantly strengthened its position in terms of the total exports, while Sri Lanka saw its share reduced by -2.3% from 2012 to 2022, respectively.

In value terms, India ($X) remains the largest road wheel supplier in Southern Asia, comprising 96% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a 4% share of total exports.

In India, road wheel exports increased at an average annual rate of +5.4% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, approximately reflecting the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 26%. Over the period under review, the export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while India totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+4.0%).

Road Wheel Imports

Imports in Southern Asia

In 2022, approx. X tons of road wheels were imported in Southern Asia; with a decrease of -37.3% compared with the year before. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 43% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, road wheel imports fell notably to $X in 2022. Over the period under review, imports recorded a pronounced curtailment. The growth pace was the most rapid in 2017 when imports increased by 26%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India was the major importer of road wheels in Southern Asia, with the volume of imports amounting to X tons, which was near 54% of total imports in 2022. Sri Lanka (X tons) ranks second in terms of the total imports with a 29% share, followed by Bangladesh (9.9%). Pakistan (X tons) and Afghanistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Pakistan (with a CAGR of +6.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constitutes the largest market for imported road wheels in Southern Asia, comprising 71% of total imports. The second position in the ranking was taken by Sri Lanka ($X), with a 16% share of total imports. It was followed by Pakistan, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value in India amounted to -4.2%. In the other countries, the average annual rates were as follows: Sri Lanka (+3.2% per year) and Pakistan (+10.8% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, growing by 27% against the previous year. In general, the import price, however, continues to indicate a perceptible contraction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Pakistan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :