United Kingdom: Road Wheel Market 2024

Road Wheel Market Size in the UK

In 2022, the UK road wheel market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, recorded a pronounced decline. Road wheel consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Road Wheel Production in the UK

In value terms, road wheel production fell slightly to $X in 2022 estimated in export price. In general, production, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Road wheel production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Road Wheel Exports

Exports from the UK

In 2022, shipments abroad of road wheels increased by X% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, road wheel exports skyrocketed to $X in 2022. Over the period under review, total exports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

Peru (X tons), Sweden (X tons) and Germany (X tons) were the main destinations of road wheel exports from the UK, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for road wheel exported from the UK were Peru ($X), Germany ($X) and Sweden ($X), together comprising X% of total exports.

Peru, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average road wheel export price amounted to $X per ton, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (X%), while the prices for the other major destinations experienced more modest paces of growth.

Road Wheel Imports

Imports into the UK

In 2022, supplies from abroad of road wheels increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, imports saw a relatively flat trend pattern. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, road wheel imports amounted to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Italy (X tons), Germany (X tons) and Turkey (X tons) were the main suppliers of road wheel imports to the UK, with a combined X% share of total imports. Poland, China, Luxembourg, Morocco, France, South Korea, Taiwan (Chinese), the Czech Republic, Japan and Thailand lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest road wheel suppliers to the UK were Italy ($X), Germany ($X) and Turkey ($X), with a combined X% share of total imports. China, Poland, Luxembourg, Taiwan (Chinese), Morocco, South Korea, the Czech Republic, France, Japan and Thailand lagged somewhat behind, together comprising a further X%.

Morocco, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average road wheel import price amounted to $X per ton, reducing by X% against the previous year. Overall, the import price showed a slight curtailment. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then shrank rapidly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform