In 2023, the import value of wheels, including parts and accessories for motor vehicles to China, stood at around $227 million. The forecasted data suggests a steady increase from 2024 to 2028, with values rising from $229.57 million in 2024 to $241.86 million in 2028.
Year-on-year growth is forecasted as follows:
- 2024: 1.1%
- 2025: 1.4%
- 2026: 1.3%
- 2027: 1.3%
- 2028: 1.2%
The compound annual growth rate (CAGR) over the forecast period (2024-2028) is approximately 1.3%.
Future trends to watch for include the impact of evolving automotive technologies, changes in trade policies, and shifts in consumer preferences toward electric and autonomous vehicles, which could influence the demand and import dynamics for automotive components in China.
