Carbon Wheel Market By Material Type (Carbon Fiber Reinforced Plastic (CFRP), Hybrid Carbon); By Vehicle Type (Passenger Cars, Sports Cars, Electric Vehicles (EVs), Motorcycles, Commercial Vehicles); By Application (On-Road, Off-Road, Racing); By End-User (Automotive, Aerospace, Military); By Geography, Segment revenue estimation, Forecast, 2024–2032.

The carbon wheel market was worth USD 2.5 billion in 2023 and will be worth USD 4.2 billion by 2030, growing at a CAGR of 7.5% during the forecast period.

 

The Carbon Wheel market is primarily stimulated by the growing demand for lightweight and high-strength materials in the automobile and aircraft industries, where weight control is paramount for efficiency and speed. Carbon wheels can decrease unsprung weight by 30-40% compared to traditional Al wheels, increasing acceleration, performance, and stopping distance. This becomes important in sectors like EVs, where range and efficiency are critical issues, and the automobile market is expected to grow beyond 6% yearly. Recent developments include Innovations in carbon fiber, which have seen carbon wheels being popularized for other classes of cars, such as sports cars and high-performance motorcycles. Today’s leading automakers like Porsche or Ferrari have now included carbon wheels in their luxury and high-performance car models to improve speed and dynamism while at the same time having to conform to the newer fuel efficiency standards. Such a trend propels carbon wheels usage, especially in the automotive and aerospace industries.

 

The prospect of the Carbon Wheel market is even greater because of the steady growth in the EV market, with a CAGR of more than 20%. Carbon wheels can make the vehicles 40% lighter than conventional aluminum rims, enhancing electric vehicle range and performance. This weight reduction is important as every 10% cut in vehicle weight translates to a 6-8% enhancement in fuel efficiency or range. Recent advancement in the application is the use of carbon wheels in high-performance cars, including sport utility vehicles and motorcycles. Companies such as Porsche and BMW are embracing the use of carbon wheels to enhance their vehicles' performance and energy management capabilities. Further, the technological improvements are also leading to the popularization of carbon wheels causing their introduction not only in luxury EVs but also in standard and especially high-performance cars. This is a continuously growing opportunity for carbon wheels in the automotive and aerospace industries.

 

 

Market Segmentation

By Material Type:

• Carbon Fiber Reinforced Plastic (CFRP)

• Hybrid Carbon

 

By Vehicle Type:

• Passenger Cars

• Sports Cars

• Electric Vehicles (EVs)

• Motorcycles

• Commercial Vehicles

 

By Application:

• On-Road

• Off-Road

• Racing

 

By End-User:

• Automotive

• Aerospace

• Military

 

By Region

North America

• US

• Mexico

• Canada

• Rest of North America

 

Europe

• Switzerland

• Russia

• France

• Germany

• U.K

• Finland

• Turkey

• Netherlands

• Belgium

• Spain

• Italy

• Rest of Europe

 

Asia Pacific

• India

• China

• South Korea

• Japan

• Singapore

• Thailand

• Indonesia

• Malaysia

• Philippines

• Australia

• Rest of Asia-Pacific

 

LAMEA

• Brazil

• Argentina

• Uruguay

• Saudi Arabia

• Rest of LAMEA

 

Segment Analysis of the Carbon Wheel Market

By Material Type:

Leading Segment: Carbon Fiber Reinforced Plastic (CFRP)

Carbon Fiber Reinforced Plastic (CFRP) is the dominant material in the carbon wheel market, accounting for over 70% of the market share. This material is favored for its excellent strength to weight ratio, which offers significant performance improvements, particularly in reducing the overall weight of vehicles. CFRP wheels are highly durable and provide better handling and fuel efficiency. As a result, premium automakers and high-performance sports car manufacturers widely use CFRP wheels. Notable applications include wheels used in luxury vehicles such as Ferrari and Lamborghini. The demand for CFRP wheels is expected to grow steadily, particularly with the rise in demand for high-performance sports cars and electric vehicles (EVs).

Fastest-Growing Segment: Hybrid Carbon

Hybrid carbon wheels, combining carbon fiber with other materials like aluminum or steel, are the fastest-growing segment, expected to grow at a CAGR of 9% over the next few years. These wheels offer a balance between the strength, lightness & cost-effectiveness of carbon fiber and the durability & affordability of other materials. Hybrid carbon wheels are increasingly being adopted in mid-range vehicles, where a balance between performance & cost is crucial. With the rise of electric vehicles & the demand for lightweight solutions, hybrid carbon wheels are becoming a popular choice for manufacturers looking to reduce vehicle weight without the premium cost of full carbon fiber wheels.

 

By Vehicle Type:

Leading Segment: Passenger Cars

Passenger cars represent the largest segment in the carbon wheel market, making up over 60% of total demand. The growing trend of lightweighting in the automotive industry is driving the adoption of carbon fiber wheels in passenger vehicles, especially for luxury & high-performance models. Manufacturers are seeking to enhance fuel efficiency, handling & acceleration performance, with carbon wheels offering a key solution. Companies like Audi & BMW have already implemented carbon fiber wheels in select models, with the trend expected to increase as consumers demand more performance-oriented vehicles.

Fastest-Growing Segment: Electric Vehicles (EVs)

The Electric Vehicle (EV) segment is the fastest-growing category within the carbon wheel market, projected to grow at a CAGR of 15%. EVs benefit significantly from lightweight components & carbon fiber wheels are an excellent choice to reduce weight, increase battery efficiency & extend range. Additionally, the increased adoption of performance-oriented electric cars further drives the demand for high-performance carbon fiber wheels. Leading EV manufacturers like Tesla & Lucid Motors are starting to incorporate carbon wheels in their high-performance models to optimize performance & enhance the driving experience.

 

By Application:

Leading Segment: On-Road

On-road applications are the largest segment in the carbon wheel market, primarily driven by the growing number of vehicles incorporating carbon wheels for better road handling, performance & aesthetics. On-road vehicles, particularly passenger cars, sports cars, and EVs, benefit from the enhanced driving dynamics and fuel efficiency provided by lightweight carbon wheels. With the rise in consumer demand for high-performance & eco-friendly vehicles, on-road applications will continue to dominate the market.

Fastest-Growing Segment: Racing

Racing applications are the fastest-growing segment, expected to grow at a CAGR of 18%. In motorsports, lightweight components are essential to improve speed, handling & fuel efficiency. Carbon wheels have been widely used in high-end racing events, such as Formula 1, and are now making their way into other racing categories, including sports car racing & rally racing. The demand for carbon wheels in racing is driven by the continuous push for performance optimization & technology advancements in motorsports, where reducing weight plays a critical role in overall race success.

 

By End-User:

Leading Segment: Automotive

The automotive sector is the largest end-user of carbon wheels, accounting for over 80% of the market share. As automotive manufacturers focus on enhancing performance, fuel efficiency & aesthetics, carbon fiber wheels have become an essential component, especially in luxury, performance & electric vehicles. Major players like Porsche, Ferrari, and McLaren are adopting carbon fiber wheels in their high-performance models to improve handling and reduce overall weight. The ongoing trend of lightweighting in the automotive industry ensures that the automotive sector remains the dominant end-user for carbon wheels.

Fastest-Growing Segment: Aerospace

The aerospace sector is the fastest-growing end-user of carbon wheels, with an expected growth rate of 10% CAGR. In aerospace applications, reducing weight is critical for improving fuel efficiency, and carbon fiber wheels offer a significant advantage. While the use of carbon wheels in aircraft is still in its early stages, there is an increasing interest in lightweight composite materials for various aircraft components, including wheels and landing gear systems. Companies like Boeing & Airbus are beginning to explore the use of carbon fiber wheels to reduce the weight of aircraft, particularly in private jets & military aircraft, where performance and efficiency are key.

 

By Region:

Leading Region: North America

North America holds the largest share of the carbon wheel market, accounting for over 35% of global demand. This is due to the presence of major automotive manufacturers such as General Motors, Ford & Tesla, all of which are increasingly adopting carbon fiber components in their high-performance and electric vehicle models. Additionally, the motorsports industry in North America, particularly NASCAR and Formula 1 events, has a strong influence on the adoption of carbon wheels. North America’s strong automotive and motorsport industries, coupled with increasing EV production, will continue to drive the demand for carbon fiber wheels.

Fastest-Growing Region: Asia-Pacific

The APAC region is the fastest-growing market for carbon wheels, with a projected CAGR of 14%. The rapid growth of the automotive and electric vehicle markets in countries like China, Japan, and South Korea is fueling this growth. China, in particular, is focusing on the development of EVs, and major EV manufacturers like NIO and BYD are exploring lightweight solutions such as carbon fiber wheels. Furthermore, the region’s expanding motorsport industry, including Formula 1 & regional racing events, is contributing to the growing demand for carbon wheels. As EV adoption accelerates & motorsport technologies evolve, Asia-Pacific is poised to see the fastest expansion in the carbon wheel market.

 

Key Players

• Carbon Revolution

• Dymag Group Ltd.

• BST Wheels

• Rolko Wheels

• Thyssenkrupp AG

• Rotobox

• ESE Carbon

• Koenigsegg

• Fikse Wheels

• Blackstone Tek (BST)

 

Carbon Wheel Market Report Coverage

Report Attribute	Details
Forecast Period	2023 – 2030
Market Size Value in 2023	USD 2.5 billion
Revenue Forecast in 2030	USD 4.2 billion
Overall Growth Rate	CAGR of 7.5%
Base Year for Estimation	2022
Historical Data	2017 – 2021
Unit	USD Billion, CAGR (2023 - 2030)
Segmentation	By Material Type, By Vehicle Type, By Application, By End-User, By Region
By Material Type	Carbon Fiber Reinforced Plastic (CFRP), Hybrid Carbon
By Vehicle Type	Passenger Cars, Sports Cars, Electric Vehicles (EVs), Motorcycles, Commercial Vehicles
By Application	On-Road, Off-Road, Racing
By End-User	Automotive, Aerospace, Military
By Region	North America, Europe, Asia Pacific, LAMEA
Country Scope	US, Mexico, Canada, Germany, UK, France, China, Japan, India, etc.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.