Spain: Road Wheel Market 2024

Road Wheel Market Size in Spain

The Spanish road wheel market soared to $X in 2022, increasing by 24% against the previous year. The market value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Road Wheel Production in Spain

In value terms, road wheel production skyrocketed to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Road Wheel Exports

Exports from Spain

After three years of decline, overseas shipments of road wheels increased by 4.1% to X tons in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 15%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, road wheel exports rose rapidly to $X in 2022. In general, total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +10.9% against 2020 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 26%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X tons), Germany (X tons) and Morocco (X tons) were the main destinations of road wheel exports from Spain, together accounting for 61% of total exports. Portugal, Slovakia, the Czech Republic, Belgium, the UK, Italy, Romania, Austria, Hungary and Argentina lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +54.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Morocco ($X) were the largest markets for road wheel exported from Spain worldwide, together accounting for 54% of total exports.

Morocco, with a CAGR of +42.1%, saw the highest growth rate of the value of exports, among 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

The average road wheel export price stood at $X per ton in 2022, rising by 4.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2021 when the average export price increased by 13% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Belgium ($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 the Czech Republic (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Road Wheel Imports

Imports into Spain

Road wheel imports into Spain rose markedly to X tons in 2022, increasing by 15% compared with 2021 figures. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 24%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, road wheel imports soared to $X in 2022. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +46.5% against 2020 indices. The growth pace was the most rapid in 2013 when imports increased by 40%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X tons), Morocco (X tons) and Italy (X tons) were the main suppliers of road wheel imports to Spain, together accounting for 56% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Morocco (with a CAGR of +324.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest road wheel suppliers to Spain were Turkey ($X), Morocco ($X) and Italy ($X), together comprising 57% of total imports.

Morocco, with a CAGR of +280.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average road wheel import price amounted to $X per ton, growing by 9.3% against the previous year. In general, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, road wheel import price increased by +16.4% against 2020 indices. The growth pace was the most rapid in 2018 an increase of 37% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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