Magnesium Wheels Market Trends, Size and Forecast 2034
Global Magnesium Wheels Market Growth, Size, Trends Analysis - By Manufacturing, By Vehicle, By Wheel Size, By Sales Channel - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Jul-2025 | Report ID: AMIN2534 | Pages: 1 - 273 | Formats*: |
| Category : Automotive & Transportation | |||
Global Magnesium Wheels Market Introduction and Overview
According to SPER Market Research, the Global Magnesium Wheels Market is estimated to reach USD 2.46 billion by 2034 with a CAGR of 2.47%.
The report includes an in-depth analysis of the Global Magnesium Wheels Market, including market size and trends, product mix, Applications, and supplier analysis. The global market for magnesium wheels was valued at USD 1.93 billion in 2024 and is projected to experience a compound annual growth rate (CAGR) of 2.47% from 2025 to 2034. An increase in demand for the sports car segment has been among the various factors contributing to the revenue growth in this market.
By Manufacturing Insights
In terms of manufacturing, the magnesium wheels market is divided into cast and forged categories. The cast system segment held the largest market share in 2024. The prevailing trend of utilizing cast magnesium wheels among most automakers is driven by the declining production costs associated with the casting method, which is more economical and enables the production of stronger and more durable wheels. Magnesium wheels are rapidly gaining traction as a viable lightweight material among automakers, as they strive to enhance vehicle performance while fulfilling fuel economy standards and addressing consumer demands for eco-friendly, high-performance vehicles.
By Vehicle Insights
The market is categorized based on vehicle type into motorcycles and cars. The cars segment held the biggest market share in 2024. The rising trend for high-performance vehicles, including sports sedans and luxury cars, is positively influencing the demand for lightweight and stylish magnesium wheels, which enhance the handling, braking, and acceleration of passenger vehicles. The increasing demand for fuel-efficient cars is driven by the adoption of magnesium wheels, as these lightweight materials reduce the overall mass of a vehicle, leading to lower energy consumption and thereby enhancing the performance value of the vehicle for eco-conscious consumers and manufacturers alike.
By Sales Channel Insights
The market for magnesium wheels is divided into OEM and aftermarket segments based on sales channels. In 2024, the OEM segment dominated the market. Given the impressive lightweight-to-strength ratio of magnesium wheels, OEMs are increasingly integrating them into their vehicles to meet the growing demand for luxury vehicles.
Regional Insights
Europe held a significant share of the global magnesium wheels market in 2024, with Germany at the forefront in this region. The country's preference for sports and luxury vehicles is driving the entire automotive industry to pursue further innovations. Germany's engineering capabilities are unmatched, as they lead in technological advancements. This, combined with their precision casting and forging techniques, is reducing the cost of the final product while enhancing the overall quality.
Market Competitive Landscape
Brembo and Enkei dominate the magnesium wheels market. Brembo is focussing on lightweight materials, such as magnesium, to improve the performance of their vehicles. To address the increasing demand for lightweight and high-performance components in sports and luxury vehicles, Brembo is committed to advancing magnesium wheel technology. By leveraging their ongoing research into magnesium alloys and hybrid materials, they aim to enhance heat dissipation, minimize weight, and boost strength. Additionally, forming partnerships with leading OEMs, racing teams, and prominent manufacturers has enabled them to broaden their market presence.
Recent Developments:
Allite introduced a new range of Super Magnesium rims in March 2023. It is claimed that these are the first rims ever produced using Allite's "revolutionary Allite Super Magnesium alloy." Unlike the R370 rims, which are specifically designed for road applications, the G370 and G380 rims are intended for gravel use.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Manufacturing, By Vehicle, By Wheel Size, By Sales Channel |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa |
| Companies Covered | BBS USA, Brembo, Enkei, Forgiato, MKW Alloy, OZ Group, Rays Wheels, Ronal Group, Vorsteiner, Vossen Wheels. |
Key Topics Covered in the Report
- Global Magnesium Wheels Market Size (FY’2021-FY’2034)
- Overview of Global Magnesium Wheels Market
- Segmentation of Global Magnesium Wheels Market By Manufacturing (Cast, Forged)
- Segmentation of Global Magnesium Wheels Market By Vehicle (Motorcycles, Cars)
- Segmentation of Global Magnesium Wheels Market By Wheel Size (13-15 inches, 16-18 inches, 19-21 inches, above 21 inches)
- Segmentation of Global Magnesium Wheels Market By Sales Channel (OEM, Aftermarket)
- Statistical Snap of Global Magnesium Wheels Market
- Expansion Analysis of Global Magnesium Wheels Market
- Problems and Obstacles in Global Magnesium Wheels Market
- Competitive Landscape in the Global Magnesium Wheels Market
- Details on Current Investment in Global Magnesium Wheels Market
- Competitive Analysis of Global Magnesium Wheels Market
- Prominent Players in the Global Magnesium Wheels Market
- SWOT Analysis of Global Magnesium Wheels Market
- Global Magnesium Wheels Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1.Introduction
1.1.Scope of the report1.2.Market segment analysis
2.Research Methodology
2.1.Research data source
2.1.1.Secondary Data2.1.2.Primary Data2.1.3.SPERs internal database2.1.4.Premium insight from KOLs
2.2.Market size estimation
2.2.1.Top-down and Bottom-up approach
2.3.Data triangulation
3.Executive Summary
4.Market Dynamics
4.1.Driver, Restraint, Opportunity and Challenges analysis
4.1.1.Drivers4.1.2.Restraints4.1.3.Opportunities4.1.4.Challenges
5.Market variable and outlook
5.1.SWOT Analysis
5.1.1.Strengths5.1.2.Weaknesses5.1.3.Opportunities5.1.4.Threats
5.2.PESTEL Analysis
5.2.1.Political Landscape5.2.2.Economic Landscape5.2.3.Social Landscape5.2.4.Technological Landscape5.2.5.Environmental Landscape5.2.6.Legal Landscape
5.3.PORTERs Five Forces
5.3.1.Bargaining power of suppliers5.3.2.Bargaining power of buyers5.3.3.Threat of Substitute5.3.4.Threat of new entrant5.3.5.Competitive rivalry
5.4.Heat Map Analysis
6.Competitive Landscape
6.1.Global Magnesium Wheels Market Manufacturing Base Distribution, Sales Area, Product Type6.2.Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Magnesium Wheels Market
7.Global Magnesium Wheels Market, By Manufacturing (USD Million) 2021-2034
7.1.Cast7.2.Forged
8.Global Magnesium Wheels Market, By Vehicle (USD Million) 2021-2034
8.1.Motorcycles
8.1.1.Racing motorcycles8.1.2.Premium motorcycles
8.2.Cars
8.2.1.Luxury cars8.2.2.Sports cars
9.Global Magnesium Wheels Market, By Wheel Size (USD Million) 2021-2034
9.1.13-15 inches9.2.16-18 inches9.3.19-21 inches9.4.Above 21 inches
10.Global Magnesium Wheels Market, By Sales Channel (USD Million) 2021-2034
10.1.OEM10.2.Aftermarket
11.Global Magnesium Wheels Market, (USD Million) 2021-2034
11.1.Global Magnesium Wheels Market Size and Market Share
12.Global Magnesium Wheels Market, By Region, (USD Million) 2021-2034
12.1.Asia-Pacific
12.1.1.Australia12.1.2.China12.1.3.India12.1.4.Japan12.1.5.South Korea12.1.6.Rest of Asia-Pacific
12.2.Europe
12.2.1.France12.2.2.Germany12.2.3.Italy12.2.4.Spain12.2.5.United Kingdom12.2.6.Rest of Europe
12.3.Middle East and Africa
12.3.1.Kingdom of Saudi Arabia12.3.2.United Arab Emirates12.3.3.Qatar12.3.4.South Africa12.3.5.Egypt12.3.6.Morocco12.3.7.Nigeria12.3.8.Rest of Middle-East and Africa
12.4.North America
12.4.1.Canada12.4.2.Mexico12.4.3.United States
12.5.Latin America
12.5.1.Argentina12.5.2.Brazil12.5.3.Rest of Latin America
13.Company Profile
13.1.BBS USA
13.1.1.Company details13.1.2.Financial outlook13.1.3.Product summary13.1.4.Recent developments
13.2.Brembo
13.2.1.Company details13.2.2.Financial outlook13.2.3.Product summary13.2.4.Recent developments
13.3.Enkei
13.3.1.Company details13.3.2.Financial outlook13.3.3.Product summary13.3.4.Recent developments
13.4.Forgiato
13.4.1.Company details13.4.2.Financial outlook13.4.3.Product summary13.4.4.Recent developments
13.5.MKW Alloy
13.5.1.Company details13.5.2.Financial outlook13.5.3.Product summary13.5.4.Recent developments
13.6.OZ Group
13.6.1.Company details13.6.2.Financial outlook13.6.3.Product summary13.6.4.Recent developments
13.7.Rays Wheels
13.7.1.Company details13.7.2.Financial outlook13.7.3.Product summary13.7.4.Recent developments
13.8.Ronal Group
13.8.1.Company details13.8.2.Financial outlook13.8.3.Product summary13.8.4.Recent developments
13.9.Vorsteiner
13.9.1.Company details13.9.2.Financial outlook13.9.3.Product summary13.9.4.Recent developments
13.10.Vossen Wheels
13.10.1.Company details13.10.2.Financial outlook13.10.3.Product summary13.10.4.Recent developments
13.11.Others
14.Conclusion
15.List of Abbreviations
16.Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Magnesium Wheels Market is projected to reach USD 2.46 billion by 2034, growing at a CAGR of 2.47% during the forecast period.
Magnesium Wheels Market size from 2025. The Market is expected to reach USD 2.46 billion by 2034, at a CAGR of 2.47% during the forecast period.
Magnesium Wheels Market CAGR of 2.47% during the forecast period.
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Magnesium Wheels Market size is USD 2.46 billion from 2025 to 2034.
Magnesium Wheels Market covered By Manufacturing, By Vehicle, By Wheel Size, By Sales Channel
The North America is anticipated to have the highest Market share in the Magnesium Wheels Market.
BBS USA, Brembo, Enkei, Forgiato, MKW Alloy, OZ Group, Rays Wheels, Ronal Group, Vorsteiner, Vossen Wheels.
The report includes an in-depth analysis of the Global Magnesium Wheels Market, including market size and trends, product mix, Applications, and supplier analysis.
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