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Wheel Cover Market: Recent Industry Developments and Growth Strategies Adopted by Players

Wheel cover, also called as wheel trims, is an additional accessory that is utilized to improve the esthetic appearance of the vehicle. Wheel covers are made of metal or plastic and are light weight and low cost.

Rise in consumer demand to improve vehicle aesthetics is driving the wheel cover market. Wheel covers are cost-effective and lend an appearance similar to that of alloy wheels. Increase in young consumers are driving the demand for vehicle accessories and the demand for wheel covers is rising as they are highly cost-effective. The wheel cover protects the wheel of the vehicle from dirt and rust and helps maintain good condition of the vehicle. Moreover, it helps maintain the resale value and hence, is being increasingly preferred.

Wheel covers are incorporated on vehicles with conventional rims and are not used on alloy wheels. Rise in the number of vehicles with alloy wheels is restraining the wheel cover market.

The wheel cover market can be segmented based on size, color tone, vehicle type, and region. Based on size, the wheel cover market can be classified into 12 to 15 inches, 16 to 17 inches, and greater than 17 inches. Sedans and hatchback utilize 12 to 15 inch category wheel covers due to their small wheel size. 6 to 17 inch wheel covers are used in multi-utility vehicles. Greater than 17 inch wheel covers are installed mostly commercial vehicles. The 12-17 inch segment is estimated to expand at a notable pace due to higher production of passenger vehicles that use these wheel covers.

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Based on cover type, the wheel cover market can be split into wheel shrouds, static wheel fairing, metal alloy wheel cover, and plastic wheel cover. Wheel shrouds apart from adding esthetic value also possess functional value and enable the flow of air over the brakes. Static wheel fairings remain stationary and do not rotate with the wheel. Plastic wheel covers are extensively utilized, as they are cost-effective and are available in a variety of designs due to their moldability.

In terms of vehicle type, the wheel cover market can be segmented into passenger vehicles and commercial vehicles. The passenger vehicles segment can be further sub-segmented into hatchbacks, sedans, and multi-utility vehicles. The commercial vehicles segment can be further split into light commercial vehicles and heavy commercial vehicles. The passenger vehicles segment holds a major share of the wheel cover market due to the higher production of passenger vehicles and also the application of the wheel covers in almost all vehicles with conventional rims.

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Based on region, the wheel cover market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is a prominent market for automotive wheel covers due to the high manufacturing capacities & production of vehicles in the region.

Key players operating in the global automotive wheel market are Salvo, Versaco, Rockman, Aquarius, ZANINI AUTO GRUP, Suburban Wheel Cover, and KUAN HSINGS.

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