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

 

Europe is the largest consumer of Carbon Wheels due to its robust car industry and penchant for above-average quality and luxury cars. Germany is particularly important for the global economy, as automobile manufacturers such as BMW, Porsche, and Ferrari are turning to carbon wheels to improve performance and reduce weight. There are also several integrated advanced carbon fiber manufacturing plants in the region, and therefore, Europe is the center of the lightweight automotive carbon fiber parts technology. Latest examples include the Tesla Model S Plaid with its structural battery pack and vertical integration announced by Elon Musk, the Porsche Taycan with carbon wheels to extend its EV range, and the Lucid Air electric sedan with its new upbeat battery technology. Since the European Union seeks to enforce more rigid emission standards and increase the use of EVs, there is an increased need for lighter components such as carbon wheels. This places Europe at the forefront region in the carbon wheel market with large investments in both automotive and material technology.

 

Key Players

• Carbon Revolution

• Dymag Group Ltd.

• BST Wheels

• Rolko Wheels

• Thyssenkrupp AG

• Rotobox

• ESE Carbon

• Koenigsegg

• Fikse Wheels

• Blackstone Tek (BST)