The motor vehicle wheels market in Brazil demonstrated a consistent decline in value from 2012 to 2020, falling from $2.0368 billion to $1.0849 billion. This decline was marked by significant drops in 2015 (-26.15%) and 2020 (-19.57%). From 2021, the market showed a slight recovery, closing at $1.2262 billion in 2022. Year-on-year variation for the last two years indicated marginal growth: 10.88% in 2021 and 1.93% in 2022. The compound annual growth rate (CAGR) for the past five years (2018-2022) averaged at -2.49%, showing continued but easing negative growth.
Future trends to watch for include advancements in lightweight material technologies, the influence of electric vehicles (EVs) on wheel designs, and potential recovery in the automotive sector. Monitoring regulatory changes and economic conditions in Brazil will be crucial for assessing future market performance.
How does Brazil 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 |
| 7 | 7 Italy | 2,437,700,000 | 2023 | +1.19% | +1.23% | View data |
| 8 | 8 Spain | 2,103,400,000 | 2023 | +2.25% | +2.56% | View data |
| 9 | 9 Brazil | 1,187,000,000 | 2023 | -3.2% | -3.42% | |
| 10 | 10 India | 1,049,700,000 | 2023 | +2.58% | +2.43% | View data |
| 11 | 11 Belgium | 998,500,000 | 2023 | +0.41% | -0.32% | View data |
