Latin America Automotive Wheel Rims Market Size and Share - Outlook Report, Forecast Trends and Growth Analysis (2025-2034)
Description
The Latin America automotive wheel rims market size is projected to grow at a CAGR of 3.80% between 2025 and 2034.
Brazil's automotive industry has been expanding, leading to a higher demand for wheel rims to equip the increasing number of passenger and commercial vehicles produced in the country. In addition, advancements in technology, particularly in the manufacturing of lightweight automotive parts, are driving the Latin America automotive wheel rims market growth. Companies like Vossen Wheels are introducing carbon fibre wheel rims to cater to the demand for lightweight and high-strength rims in the region.
The growing preference for lightweight vehicles to enhance fuel efficiency is a significant driver. Lightweight wheel rims contribute to improving the vehicle's power-to-weight ratio, enhancing performance and ride quality. Companies like BBS Wheels are focusing on producing lightweight aluminium alloy rims to meet the demand for fuel-efficient vehicles in Latin America.
Leading manufacturers are forming partnerships with automakers to supply wheel rims to OEMs, which can enhance product offering and drive competition in the market. Companies like BORBET GmbH have established partnerships with automakers in Latin America to provide customised wheel rims for specific vehicle models.
The rise in electric vehicle production in Latin America is influencing the Latin America automotive wheel rims market development. As per the industry reports, in Brazil, EV sales nearly doubled in 2023, reaching 93,927 through December, up from just 49,245 the previous year. Additionally, in Mexico, the second-largest car market in Latin America, EV sales grew by 101% in 2023, with 8,267 units sold in January 2024 alone.
As the region embraces sustainable mobility solutions, the demand for wheel rims tailored for electric vehicles is expected to increase. Companies like HRE Wheels are developing specialised wheel rims designed for electric vehicles.
Market Segmentation
Latin America Automotive Wheel Rims Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Material Type:
Steel
Alloy
Carbon FIbre
Others
Market Breakup by Vehicle Type:
Passenger Car
Commercial Vehicle
Market Breakup by Sales Channel:
OEM
Aftermarket
Market Breakup by Region:
Brazil
Mexico
Argentina
Others
Competitive Landscape
Market players are focused on manufacturing high-quality wheel rims to cater to the growing demand for lightweight automotives.
Iochpe-Maxion S.A.
Accuride Corporation
Superior Industries International, Inc.
Howmet Aerospace Inc. (Alcoa Wheels)
Wheel Pros, LLC (TSW Wheels)
Ronal AG
HRE Performance Wheels
Vossen Wheels
Mangels Industrial S.A.
Neo Rodas SA
Others
Brazil's automotive industry has been expanding, leading to a higher demand for wheel rims to equip the increasing number of passenger and commercial vehicles produced in the country. In addition, advancements in technology, particularly in the manufacturing of lightweight automotive parts, are driving the Latin America automotive wheel rims market growth. Companies like Vossen Wheels are introducing carbon fibre wheel rims to cater to the demand for lightweight and high-strength rims in the region.
The growing preference for lightweight vehicles to enhance fuel efficiency is a significant driver. Lightweight wheel rims contribute to improving the vehicle's power-to-weight ratio, enhancing performance and ride quality. Companies like BBS Wheels are focusing on producing lightweight aluminium alloy rims to meet the demand for fuel-efficient vehicles in Latin America.
Leading manufacturers are forming partnerships with automakers to supply wheel rims to OEMs, which can enhance product offering and drive competition in the market. Companies like BORBET GmbH have established partnerships with automakers in Latin America to provide customised wheel rims for specific vehicle models.
The rise in electric vehicle production in Latin America is influencing the Latin America automotive wheel rims market development. As per the industry reports, in Brazil, EV sales nearly doubled in 2023, reaching 93,927 through December, up from just 49,245 the previous year. Additionally, in Mexico, the second-largest car market in Latin America, EV sales grew by 101% in 2023, with 8,267 units sold in January 2024 alone.
As the region embraces sustainable mobility solutions, the demand for wheel rims tailored for electric vehicles is expected to increase. Companies like HRE Wheels are developing specialised wheel rims designed for electric vehicles.
Market Segmentation
Latin America Automotive Wheel Rims Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Material Type:
Steel
Alloy
Carbon FIbre
Others
Market Breakup by Vehicle Type:
Passenger Car
Commercial Vehicle
Market Breakup by Sales Channel:
OEM
Aftermarket
Market Breakup by Region:
Brazil
Mexico
Argentina
Others
Competitive Landscape
Market players are focused on manufacturing high-quality wheel rims to cater to the growing demand for lightweight automotives.
Iochpe-Maxion S.A.
Accuride Corporation
Superior Industries International, Inc.
Howmet Aerospace Inc. (Alcoa Wheels)
Wheel Pros, LLC (TSW Wheels)
Ronal AG
HRE Performance Wheels
Vossen Wheels
Mangels Industrial S.A.
Neo Rodas SA
Others
Table of Contents
130 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Countries
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Global Automotive Wheel Rims Market Overview
- 5.1 Key Industry Highlights
- 5.2 Global Automotive Wheel Rims Historical Market (2018-2024)
- 5.3 Global Automotive Wheel Rims Market Forecast (2025-2034)
- 5.4 Global Automotive Wheel Rims Market Share by Region
- 5.4.1 North America
- 5.4.2 Europe
- 5.4.3 Asia Pacific
- 5.4.4 Latin America
- 5.4.5 Middle East and Africa
- 6 Latin America Automotive Wheel Rims Market Overview
- 6.1 Key Industry Highlights
- 6.2 Latin America Automotive Wheel Rims Historical Market (2018-2024)
- 6.3 Latin America Automotive Wheel Rims Market Forecast (2025-2034)
- 7 Latin America Automotive Wheel Rims Market by Material Type
- 7.1 Steel
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Alloy
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 Carbon FIbre
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 7.4 Others
- 8 Latin America Automotive Wheel Rims Market by Vehicle Type
- 8.1 Passenger Car
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Commercial Vehicle
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 9 Latin America Automotive Wheel Rims Market by Sales Channel
- 9.1 OEM
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Aftermarket
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 10 Latin America Automotive Wheel Rims Market by Country
- 10.1 Brazil
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 Mexico
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 10.3 Argentina
- 10.3.1 Historical Trend (2018-2024)
- 10.3.2 Forecast Trend (2025-2034)
- 10.4 Others
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators of Demand
- 11.4 Key Indicators of Price
- 12 Competitive Landscape
- 12.1 Supplier Selection
- 12.2 Key Global Players
- 12.3 Key Regional Players
- 12.4 Key Player Strategies
- 12.5 Company Profiles
- 12.5.1 Iochpe-Maxion S.A.
- 12.5.1.1 Company Overview
- 12.5.1.2 Product Portfolio
- 12.5.1.3 Demographic Reach and Achievements
- 12.5.1.4 Certifications
- 12.5.2 Accuride Corporation
- 12.5.2.1 Company Overview
- 12.5.2.2 Product Portfolio
- 12.5.2.3 Demographic Reach and Achievements
- 12.5.2.4 Certifications
- 12.5.3 Superior Industries International, Inc.
- 12.5.3.1 Company Overview
- 12.5.3.2 Product Portfolio
- 12.5.3.3 Demographic Reach and Achievements
- 12.5.3.4 Certifications
- 12.5.4 Howmet Aerospace Inc. (Alcoa Wheels)
- 12.5.4.1 Company Overview
- 12.5.4.2 Product Portfolio
- 12.5.4.3 Demographic Reach and Achievements
- 12.5.4.4 Certifications
- 12.5.5 Wheel Pros, LLC (TSW Wheels)
- 12.5.5.1 Company Overview
- 12.5.5.2 Product Portfolio
- 12.5.5.3 Demographic Reach and Achievements
- 12.5.5.4 Certifications
- 12.5.6 Ronal AG
- 12.5.6.1 Company Overview
- 12.5.6.2 Product Portfolio
- 12.5.6.3 Demographic Reach and Achievements
- 12.5.6.4 Certifications
- 12.5.7 HRE Performance Wheels
- 12.5.7.1 Company Overview
- 12.5.7.2 Product Portfolio
- 12.5.7.3 Demographic Reach and Achievements
- 12.5.7.4 Certifications
- 12.5.8 Vossen Wheels
- 12.5.8.1 Company Overview
- 12.5.8.2 Product Portfolio
- 12.5.8.3 Demographic Reach and Achievements
- 12.5.8.4 Certifications
- 12.5.9 Mangels Industrial S.A.
- 12.5.9.1 Company Overview
- 12.5.9.2 Product Portfolio
- 12.5.9.3 Demographic Reach and Achievements
- 12.5.9.4 Certifications
- 12.5.10 Neo Rodas SA
- 12.5.10.1 Company Overview
- 12.5.10.2 Product Portfolio
- 12.5.10.3 Demographic Reach and Achievements
- 12.5.10.4 Certifications
- 12.5.11 Others
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
