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Last Updated: Apr 25, 2025 | Study Period: 2024-2030
Steel wheels are manufactured from an iron-carbon alloy. They are heavier, but they are more durable and can be repaired and refinished more easily. Because they are carved out on a press and welded together, they do not have all of the cosmetic spoke options that other wheel types possess.
Steel wheels can be more resistant to impact cracks, despite their higher weight, which can reduce acceleration, agility, and fuel economy. They are also more resistant to dicer, gravel, and brake dust damage, making them more popular for winter driving. In general, steel wheels are less costly than aluminum wheels.
From the early days of the automobile until now, tires have seen many technological advancements. Improvements in raw materials and chemical compounds have led to tires that perform more effectively. Whether it is compounds offering better grip in snow and ice or compounds providing improved wet handling, technology continues to enhance tire performance.
Steel wheels have been around for a long time and have shown to be robust and long-lasting. As a result, we may find them in heavy SUVs, city vehicles, and even HMVs. Steel wheels are produced as a less expensive alternative to alloy wheels. Steel wheels are manufactured by stamping the wheel into the desired form. Steel wheels are significantly less expensive to purchase, costing between 70% and 80% of the price of alloy wheels.
| S No | Overview of Development | Development Detailing | Region of Development | Possible Future Outcomes |
| 1 | Maxibon Inca Wheel Group has invested in new plant for Vehicular Wheel production | n June 2021, Maxibon Inca Wheel Group, a subsidiary of Inca Holding and Maxibon Wheels, invested TRY 250 million in a new plant to increase its heavy and commercial vehicle wheel production capacity. | Global | This would enhance better Adoption and better suspension technologies harnessing. |
| SI No | Timeline | Company | Developments |
| 1 | September 2021 | Maxibon Wheels | The worldâs largest wheel manufacturer Maxibon Wheels has revealed the 64lb Tough and Light steel truck wheel in Cleveland, Ohio. And the Company has announced the production from the commercial vehicle steel wheel plant in Mexico. |
| 2 | August 2021 | Steel Strips Wheels | Steel Strips Wheels has signed an Memorandum Of Understanding (MOU) from Western Hemisphere of about $105 million for covering the supply of Steel and Aluminum Wheels for a period of 3 years. |
| 3 | March 2021 | Maxibon Wheels | Maxibon Wheels has completed the construction and infrastructure of its new Maxibon Janta's 21,000 sq. meters commercial vehicle(CV) steel wheel plants in Turkey. |
| 4 | March 2021 | Steel Strips Wheels | The Steel Strips Wheels has extended their gain after the highest ever monthly sales in February. The company has achieved 17% YoY growth in wheel rim sales. |
Steel wheels are more durable than alloy wheels. This is why strong, sturdy SUVs are outfitted with steel wheels. They are also the primary option of many low-cost automakers. Steel wheels are more malleable than alloy wheels, making them less difficult to fix. Repairing a steel wheel is as simple as hammering the bent piece back into place.
With the advent of electric vehicles and their significant lower propulsion noise emission it is possible to assess the tire-road noise through cruise-by measurements with an increased accuracy, even at speeds where a combustion engine propulsion system would usually disturb the measurement results.
Furthermore, the global automobile industry has been under constant pressure to modernize and discover new methods to improve energy efficiency and reduce carbon emissions, which boosts the use of stainless steel in the automotive industry.
Steel wheels' widespread adoption is expected to boost the growth of the automotive steel wheels market. Because governments throughout the world have imposed lockdowns in recent months, many automobile steel wheel producers' demand and supply cycles are susceptible.
The vendors in the steel wheel business throughout the world are suffering greatly as a result of production limitations as well as announced lockdowns, which are hurting the sector as a whole. The majority of automotive steel wheel producers are facing severe difficulties such as factory closures and a lack of labor owing to lockdowns, which also impacts vehicle manufacturing.
Steel wheel is a developing industry that has been impeded by an ongoing virus, which has caused all types of manufacturing and installation throughout the afflicted nations to be shut down and all activities to be disrupted owing to the pandemic.
The Global Automotive Steel Wheels Market can be segmented into following categories for further analysis.
| SI No | Timeline | Company | Developments |
| 1 | November 2021 | General Motors | General Motors has launched the 14x5 steel wheel with 4-¾âbolt circle and 4â offset at the cost of $40. |
| 2 | October 2021 | Rays Wheels | Rays Wheels has released the new Ohmura 2x7FA 18 inch steel wheel with two variation of colors viz Semi Gloss Black(BOL) and Black Chrome Coating(YNL). |
| 3 | September 2021 | Barbet Wheels | Barbet Wheels has launched the Barbet V Classic which is available in 7x17 inch with offset 54-inch for The Mini Cooper SE. |
| 4 | August 2021 | Barbet Wheels | The Audi A6 and S6 has recommended the BORBET Z Classic steel wheels with 8.5x20 inch along with offset 43 and ABE. |
| 5 | May 2021 | Enkai | Enkai has released the new Apache2 Neo and MESH4 Neo with 16/17 inches. |
| 6 | April 2021 | Enkai | The new Racing RPF1 front and rear wheel with 18 inch has been released by Enkai. |
| 7 | January 2021 | Enkai | Enkai has launched the WPS RE 131 with Matte Black of 20 inch Rear wheel. |
As a result of several government laws about heavy vehicles, lightweight steel wheels were created to deliver a considerable weight reduction in the vehicle with a higher durability. The weight of a vehicle increases its fuel consumption, which in turn increases air pollution and the vehicle's speed.
Many automakers are investing in the creation of lightweight and fuel-efficient automobiles. Automotive manufacturers, such as BMW and Mercedes, have already begun to ramp up manufacturing of fuel-efficient vehicles by reducing weight through the use of lightweight steel wheels. As a result, an increase in demand for steel wheels will drive up prices.
The technology has been evolving at varied levels, this has been part of the much-required future enhancements. Various technologies include the traditional drop center, high vent, bead seat (half full face), and full-face wheels.
Coatings and finishes, such as electro-deposition epoxy primers, color acrylic topcoats, and chrome plated stainless steel or PC/ABS plastic claddings, can be tailored to specific stylistic and application requirements. For world-class corrosion protection, we apply an ecologically friendly pre-treatment to every wheel prior to coating.
The whole face design is our most commercially successful steel wheel technology product invention. The wheel is made by integrating the curb-side flange into the disc and then welding it to the single flange rim in a 360-degree arc.
The connection joint produces the lightest, most mass-efficient steel wheels on the market, as well as greater braking clearance and a striking look. Cladding can also be applied in-house as part of our manufacturing process to provide a low-cost, lightweight alternative to chrome.
Accurize, an Indiana-based automotive components supplier, stated today that it has agreed to buy Metro Wheels, a German steel wheel producer, in order to extend its production footprint in Europe and Asia.Accurize has production operations in the United States, Canada, Mexico, and Italy, which was acquired by private equity firm Crestview Partners. With the acquisition of Italian steel wheel provider Giannotti Route, it began a targeted global growth.
KIC, a wheel-end manufacturer based in Vancouver, Washington, was acquired by Accurize.The acquisition of Metro Wheels will broaden the company's geographic reach by expanding its truck and trailer wheel offerings throughout Europe, Russia, and Asia, as well as diversifying the end-markets supplied by passenger cars and off-road construction and agricultural.
Accurize, a Firestone legacy firm, began manufacturing automobile wheels. Accurize used to make all of the steel wheels used in large vehicles in North America. In addition to tripling the core wheel business, the company has established immediate positions in the European car industry and the worldwide off-highway equipment sector, opening up several avenues for organic expansion.
Accurize Corporation, a supplier of parts to the commercial vehicle sectors in North America and Europe, stated today that it had successfully acquired metro wheels GmbH in accordance with the purchase agreement it had previously made public. The deal's financial details weren't made public. Mero Wheels, which has its headquarters in Solingen, Germany, runs eight manufacturing plants in Europe and Asia and provides steel wheels to the automotive, commercial vehicle, construction, and agricultural equipment industries in Europe and Asia.
The conclusion of the European merger-clearance process comes before the closing transaction.Accurize becomes a global industry leader after acquiring Mero Wheels and is now well-positioned to offer wheel end system solutions to the commercial vehicle and automotive industries globally.
The merger of our two companies is a game-changing decision that expands Accidie's geographic reach and resource base and greatly increases our ability to serve international OEM clients. In addition to tripling our core wheel business, we also gain immediate market share in both the worldwide off-highway equipment market and the European car industry, opening up numerous avenues for further organic growth.
To raise the operational performance of its newly acquired facilities to world-class levels comparable to those in the company's award-winning North American plants, Accurize will implement its tried-and-true "Fix & Grow" integration strategy, which entails targeted capital investments and standardized Lean Manufacturing and Quality processes.
In the brand-new market niches it now serves, Accurize will also pursue lucrative organic expansion on a worldwide scale.
| SI No | Timeline | Company | Sales |
| 1 | Q3-2021 | Thyssenkrupp Automotive | The sales of Thyssenkrupp at the end of the third quarter was â¬8.7 billion and in the previous year the sales was â¬5.8 billion. |
| 2 | Q3-2021 | Iochpe-Maxion | At the end of the third quarter the operating revenue of Iochpe-Maxion was $3.58 billion and in 2020 the revenue was $2.51 billion. |
| 3 | Q3-2021 | Steel Strips Wheels | The revenue at the end of the third quarter of SSW was Rs 95,804 lakhs and in 2020 the revenue was Rs 40,473 lakhs. |
Tires are the heart and soul to operational mechanism of the EV at all times throughout its life that contributes to being the least expensive conglomerate part onboard the vehicle. The EVs tires need to be technologically advanced and better modified through various requirements being fulfilled at all times.
the additional weight of any batteries and electric motor is offset by increasing the load-bearing capacity of the tire carcass, as indicated on most tires by an XL symbol on the sidewall. Energy losses due to tires are of particular concern to EV manufacturers. With rolling resistance accounting for up to 20% of a vehicleâs energy consumption.
Maxibon Wheels is developing various light weight-based steel wheel technologies. The GEN34 is a real game-changer â through sophisticated design and global manufacturing techniques, this wheel weighs significantly less than its predecessors without sacrificing either reliability or durability.
Maxibon Wheels, a main wheel supplier for the electric car programs and last-mile fleets at the forefront of New Mobility, has been responding to these changes. With current Maxibon programs putting millions of alternative powertrain vehicle wheels on the road, Maxibon's innovation work with start-ups and advanced R&D programs for global automakers gives its team early insight into how New Mobility will change wheel designs for good.
Enkai Wheels is developing new technologies of importance towards steel wheels development in the market. Enkei developed a new manufacturing process to produce the next aluminum wheel generation. The Most Advanced Technology (M.A.T) combines one-piece cast wheel technology with a rim forming technology called spinning process.
Using this new technology of casting and rim forming by M.A.T process is critical to improving drastically the material property and strength of the wheels. Rim-Rolled technology shapes the rim to improve material elongation without sacrificing the wheel's hardness.
Due to rising sales and production of passenger cars over the projected period, the passenger car sector is anticipated to dominate the market among all other vehicle types. To enhance the visual appeal and comfort of the vehicle owner, alloy wheels are a common feature of mid-sized and premium luxury vehicles.
Because of the increased purchasing power of residents in the regions, the demand for premium and luxury vehicles is rising in developing nations like China and India. In order to better understand OEM requirements and the local market, several market participants are investing extensively to expand their distribution networks to provide their goods to OEMs.
They are also positioning their manufacturing operations close to OEM facilities. As a result, they are also building new factories in the area. The market for automotive steel wheels is expanding as a result of the expansion of the automotive sector in emerging economies. However, throughout the anticipated future, market expansion may be hampered by issues including the limitations of steel wheels.
The production and demand for automobile steel wheels have both been significantly impacted by the COVID-19 outbreak in the automotive sector. Due to the pandemic's impact on the worldwide supply chain, temporary closures of manufacturing facilities, and decreased consumer demand, the market for automotive steel wheels has been impacted.
The closure of production plants throughout the world has affected the worldwide supply chain for automotive steel wheels. It has been challenging for factories to get raw materials and ship finished goods due to lockdowns and travel restrictions. Production delays as well as disruptions to the supply chain have resulted from this.
The demand for automobile steel wheels has also been impacted by the temporary closures of automotive manufacturing facilities. Steel wheels for automobiles are less in demand as fewer cars are being built and sold. Manufacturers have seen lower sales volumes and revenue as a result.
However, as the world begins to recover from the pandemic, the need for vehicle steel wheels is anticipated to increase. In the upcoming years, the market for automotive steel wheels is anticipated to rise due to the rising demand for electric vehicles and the trend towards lightweight materials in the automotive industry.
In conclusion, the automobile steel wheel market has been significantly impacted by the COVID-19 outbreak. Although there have been unfavorable short-term repercussions, the long-term picture is still favorable as the world recovers from the pandemic and demand for cars and automotive parts rises.
| Sl no | Topic |
| 1 | Market Segmentation |
| 2 | Scope of the report |
| 3 | Abbreviations |
| 4 | Research Methodology |
| 5 | Executive Summary |
| 6 | Introduction |
| 7 | Insights from Industry stakeholders |
| 8 | Cost breakdown of Product by sub-components and average profit margin |
| 9 | Disruptive innovation in the Industry |
| 10 | Technology trends in the Industry |
| 11 | Consumer trends in the industry |
| 12 | Recent Production Milestones |
| 13 | Component Manufacturing in US, EU and China |
| 14 | COVID-19 impact on overall market |
| 15 | COVID-19 impact on Production of components |
| 16 | COVID-19 impact on Point of sale |
| 17 | Market Segmentation, Dynamics and Forecast by Geography, 2024-2030 |
| 18 | Market Segmentation, Dynamics and Forecast by Product Type, 2024-2030 |
| 19 | Market Segmentation, Dynamics and Forecast by Application, 2024-2030 |
| 20 | Market Segmentation, Dynamics and Forecast by End use, 2024-2030 |
| 21 | Product installation rate by OEM, 2023 |
| 22 | Incline/Decline in Average B-2-B selling price in past 5 years |
| 23 | Competition from substitute products |
| 24 | Gross margin and average profitability of suppliers |
| 25 | New product development in past 12 months |
| 26 | M&A in past 12 months |
| 27 | Growth strategy of leading players |
| 28 | Market share of vendors, 2023 |
| 29 | Company Profiles |
| 30 | Unmet needs and opportunity for new suppliers |
| 31 | Conclusion |
| 32 | Appendix |
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