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Carbon Wheels Market Size - By Vehicle Type (Passengers cars, commercial vehicles, two wheelers), By Distribution Channel (OEM, Aftermarket) & Forecast, 2024 - 2032

  • Report ID: GMI4768
  • Published Date: Mar 2024
  • Report Format: PDF

Carbon Wheels Market Size

Carbon Wheels Market size was valued at USD 679 million in 2023 and is estimated to register a CAGR of over 8.2% between 2024 and 2032. Due to an increase in technological advancements such as carbon fiber technology, manufacturing process and design engineering have resulted in lighter, stronger, and more aerodynamically advanced carbon wheels. There has been increased customization and personalization in the wheel market. Consumers can customize wheelsets according to their preferences such as, increased rim depth, spoke count as well.

Carbon Wheels Market

The carbon wheels industry can pose challenges to the price sensitive customers. Because carbon requires more expensive materials, manufacturing techniques, and technology than aluminium does, carbon wheels are often more expensive than aluminium ones. For likely riders, the high price point may be an obstruction. Additionally, as compared to aluminium wheels, carbon wheels may be more prone to impact damage and failure, especially while riding off-road or during accidents.

Carbon Wheels Market Trends

There is a trend for personalization and customization of wheelsets according to customer’s needs and performance goals. There is a trend of using wider rims in the wheelsets of vehicles. wider rim profiles in road and mountain vehicles. Wider rims offer benefits including improved tire stability, better sidewall support, enhanced traction, and reduced rolling resistance which increases comfort and performance.

Tubeless technology in wheelsets provides benefits such as, lower rolling resistance, less risk of punctures, and to run tires at lower pressures for better comfort and traction. More and more manufacturers are producing carbon wheelsets that are ready for tubeless tires.

Carbon Wheels Market Analysis

Carbon Wheel Market Size, By Vehicle Type, 2022-2032 (USD Billion)

Based on vehicle type, the market is divided into passenger cars, commercial vehicles, and two wheelers. The commercial vehicles segment dominated around USD 323 million revenue in 2023. Commercial vehicles and luxury vehicles have more share in carbon wheels as they have luxurious interiors and carbon wheels are lighter and stronger in performance.

Carbon Wheel Market Share, By Distribution Channel, 2023

Based on distribution channel, the market is categorized into OEM, Aftermarket. The original equipment manufacturer (OEM) segment accounted for 81% of the carbon wheels market share in 2023. OEMs produce carbon wheels in quality standards that preserve their brand value.

Asia Pacific Carbon Wheel Market Size, 2022 - 2032, (USD Billion)

Asia Pacific carbon wheels market size held over USD 206 million in 2023. The APAC region has been undergoing urbanization because of rapid industrialization. APAC region has also witnessed market growth of luxury vehicles especially in countries like, India, China, Singapore which signals the growth and acceptance of market.

Carbon Wheels Market Share

Global Company Market Share Analysis, 2023

In 2023, dominant market players including Zipp speed weaponry, ENVE Composites, Reynolds Cycling, Mavic DT Swiss, Fulerum Wheels collectively held a substantial 20% - 25% market share. As the market is highly fragmented, these industry leaders are actively engaged in strategic initiatives such as mergers & acquisitions, facility expansion, and partnerships to broaden their product portfolios, reach a wider customer base, and strengthen their market presence. These companies continuously invest in research & development to improve their products and incorporate new technologies, allowing them to stay ahead of the competition.

Carbon Wheels Market Share

Major companies operating in the carbon wheels industry are:

  • Zipp speed weaponry
  • ENVE Composites
  • Reynolds Cycling
  • Mavic DT Swiss
  • Fulerum Wheels
  • Roval components
  • Easton Cycling
  • Campagnolo
  • Bontrager
  • Carbon Revolution Ltd.
  • Dymag Group Ltd.
  • Ronal Group
  • Geric B.V.
  • ESE Carbon company
  • Rotobox D.O.O
  • Blackstone Tek
  • Thyssenkrupp AG
  • Phoenix Wheel Company, Inc.

Carbon Wheels Industry News

  • In December 2023, Bike Ahead launched Biturbo X carbon wheels. Biturbo X has a 6 spoke design. It is energy efficient and does not take unnecessary grease.

The carbon wheels market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) and volume in (Units) from 2018 to 2032, for the following segments:

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Market, By Vehicle Type

  • Passenger cars
  • Commercial vehicles
  • Two wheelers

Market, By Distribution Channel

  • OEM
  • Aftermarket

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
    • Belgium
    • Sweden
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Thailand
    • Vietnam
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America 
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa
    • Iran
    • Turkey
    • Rest of MEA


Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of carbon wheels reached USD 679 million in 2023 and is set to witness 8.2% CAGR from 2024 to 2032, owing to increase in technological advancements such as carbon fiber technology, manufacturing process and design engineering worldwide.

The commercial vehicles segment recorded around USD 323 million in 2023, due to having luxurious interiors and preferring carbon wheels for their lighter and stronger performance.

Asia Pacific market was valued at USD 206 million in 2023, attributed to rapid urbanization and industrialization in the region.

Zipp speed weaponry, ENVE Composites, Reynolds Cycling, Mavic DT Swiss, Fulerum Wheels, Roval components, Easton Cycling, Campagnolo, Bontrager, Carbon Revolution Ltd., Dymag Group Ltd., and Ronal Group, are some of the major carbon wheels companies worldwide.

Carbon Wheels Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 18
  • Tables & Figures: 212
  • Countries covered: 29
  • Pages: 138
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