The motor vehicle wheels market in Malaysia grew steadily from 2012, reaching a peak in 2016 at $230.48 million. A dip occurred in 2017, but the market rebounded somewhat, fluctuating through 2020, and reached $231.12 million in 2022. The year-on-year variation shows significant fluctuations, especially in 2017 and 2020 where it saw declines, and a strong recovery in 2021. The last five years' CAGR indicates an average increase of 2.74% per year, suggesting a moderate yet resilient growth.
Future trends to watch for include the shift towards electric vehicle (EV) adoption, advancements in materials for wheel manufacturing, and potential supply chain disruptions that could affect both the price and availability of parts. Market players should focus on innovation and strategic partnerships to stay competitive.
How does Malaysia rank in Motor Vehicle Wheels (And Including Parts) Market Size Value?
| # | 36 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 39,551,000,000 | 2023 | +2.38% | +2.35% | View data |
| 2 | 2 China | 19,307,000,000 | 2023 | +3.7% | +3.76% | View data |
| 3 | 3 Germany | 8,397,200,000 | 2023 | +1.11% | +1.25% | View data |
| 4 | 4 Japan | 7,915,500,000 | 2023 | -0.11% | -1.47% | View data |
| 5 | 5 United Kingdom | 3,316,600,000 | 2023 | +0.57% | +0.48% | View data |
| 21 | 21 Switzerland | 482,540,000 | 2023 | +1.39% | +1.31% | View data |
| 22 | 22 Colombia | 279,380,000 | 2023 | +1.4% | +0.56% | View data |
| 23 | 23 Malaysia | 234,190,000 | 2023 | +1.33% | +1.3% | |
| 24 | 24 Denmark | 184,490,000 | 2023 | -1.47% | -1.02% | View data |
| 25 | 25 South Africa | 173,240,000 | 2023 | -2.76% | -1.81% | View data |
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