
Global Passenger Vehicle Steel Wheel Market Insights, Size, and Forecast By Vehicle Type (Sedan, SUV, Hatchback, Coupe), By Manufacturing Process (Casting, Forging, Machining), By Diameter Size (14 inches, 15 inches, 16 inches, 17 inches, 18 inches), By Material Type (Hot Rolled Steel, Cold Rolled Steel, Alloy Steel), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Key Companies, Competitive Analysis, Trends, and Projections for 2026-2035
Key Market Insights
Global Passenger Vehicle Steel Wheel Market is projected to grow from USD 18.7 Billion in 2025 to USD 24.3 Billion by 2035, reflecting a compound annual growth rate of 4.1% from 2026 through 2035. This growth is primarily driven by the increasing demand for affordable and durable wheels in emerging markets, coupled with the rising production of passenger vehicles globally. Steel wheels offer a cost effective solution with robust performance, making them a preferred choice for entry level and mid range vehicle segments. The market is also propelled by advancements in manufacturing processes leading to lighter yet stronger steel wheels, improving fuel efficiency and overall vehicle performance. Stringent safety regulations and the growing preference for reliable vehicle components further underpin market expansion. However, the increasing penetration of lightweight alloy wheels, particularly in premium and electric vehicle segments, poses a significant restraint on market growth. Concerns regarding the weight of steel wheels impacting fuel economy and the aesthetic appeal offered by alloy alternatives are also challenges that manufacturers need to address. Opportunities lie in developing advanced high strength steel alloys and innovative designs that combine the durability of steel with reduced weight, making them more competitive. Furthermore, the aftermarket segment presents substantial growth prospects due to replacement demand and customization trends.
Global Passenger Vehicle Steel Wheel Market Value (USD Billion) Analysis, 2025-2035

2025 - 2035
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The market is characterized by several important trends including the growing adoption of automated manufacturing processes to enhance production efficiency and reduce costs. There is also a notable shift towards integrated wheel hub assemblies, simplifying vehicle assembly and improving operational reliability. Customization options, though more prevalent in alloy wheels, are slowly making their way into the steel wheel market, driven by consumer preferences for personalized vehicles. The emphasis on sustainable manufacturing practices, including recycling steel, is another emerging trend as environmental regulations become stricter. The Hot Rolled Steel segment continues to dominate the market, reflecting its established production capabilities, cost effectiveness, and widespread application in various vehicle types. This material offers a balance of strength and formability, making it ideal for the high volume production of steel wheels. Its inherent properties allow for efficient manufacturing processes, contributing to its leading position in the market.
Asia Pacific remains the dominant region in the global passenger vehicle steel wheel market and is also projected to be the fastest growing region. This dominance is attributed to the substantial volume of passenger vehicle production, particularly in countries with large domestic markets and significant export capabilities. The rapid urbanization, rising disposable incomes, and expanding middle class in this region are fueling the demand for affordable passenger vehicles, directly translating into higher steel wheel sales. Furthermore, the presence of major automotive manufacturing hubs and a well established supply chain infrastructure contribute significantly to the region's strong market position. Key players in this fragmented market such as Maxion Wheels, Topy Industries, and Steel Strips Wheels are focusing on expanding their production capacities, investing in R&D for advanced material development, and forging strategic partnerships with automotive OEMs to strengthen their market footprint. Other significant players like Alpina Wheels, Kosei Aluminum, and Accuride Corporation are concentrating on product innovation, quality enhancements, and catering to specific market niches to gain a competitive edge.
Quick Stats
Market Size (2025):
USD 18.7 BillionProjected Market Size (2035):
USD 24.3 BillionLeading Segment:
Hot Rolled Steel (72.8% Share)Dominant Region (2025):
Asia Pacific (45.8% Share)CAGR (2026-2035):
4.1%
What is Passenger Vehicle Steel Wheel?
A Passenger Vehicle Steel Wheel is a crucial component of a car's chassis, providing the structural base for a tire. It's typically stamped from multiple pieces of steel sheet, then welded together to form a robust, round disc with a central hub hole and bolt pattern. Its design prioritizes strength, durability, and cost-effectiveness over lightness, making it common for everyday passenger cars. This wheel supports the vehicle's weight, transfers power from the engine to the ground via the tire, and endures road impacts, ensuring safe and reliable transportation for millions of drivers worldwide.
What are the Trends in Global Passenger Vehicle Steel Wheel Market
Lightweighting Steel Wheels Optimizing EV Range
Sustainable Steel Sourcing Driving Wheel Innovation
Smart Wheel Technology Integrating Sensing Features
Automated Manufacturing Reshaping Steel Wheel Production
Lightweighting Steel Wheels Optimizing EV Range
Automakers are increasingly using lightweight steel alloys for EV wheels to combat range anxiety. These advanced steels offer comparable strength to traditional materials but significantly reduce unsprung mass. This weight reduction directly translates into improved energy efficiency for electric vehicles, extending their driving range per charge and enhancing overall performance. This trend optimizes battery life and supports broader EV adoption.
Sustainable Steel Sourcing Driving Wheel Innovation
Automakers seek greener steel, influencing wheel design. Lower carbon steel demand encourages new manufacturing methods for wheels. This shift drives innovation in wheel strength, weight, and material composition, prioritizing sustainability. Manufacturers explore novel alloys and production processes to meet eco conscious consumer and regulatory demands, ensuring wheels are both robust and environmentally responsible.
Smart Wheel Technology Integrating Sensing Features
Smart wheel technology for steel wheels is incorporating advanced sensing features to enhance vehicle safety and performance. These integrated sensors monitor tire pressure, temperature, and even road conditions, providing real time data to the driver and vehicle systems. This innovation improves handling, extends tire lifespan, and facilitates proactive maintenance, aligning with the growing demand for intelligent vehicle solutions in passenger cars.
Automated Manufacturing Reshaping Steel Wheel Production
Automated manufacturing is revolutionizing steel wheel production by integrating advanced robotics and AI. This streamlines processes from material handling to welding and finishing, enhancing precision, consistency, and speed. It significantly reduces labor costs and human error, leading to higher quality wheels and faster production cycles, ultimately boosting efficiency and competitiveness for manufacturers globally.
What are the Key Drivers Shaping the Global Passenger Vehicle Steel Wheel Market
Growing Automotive Production and Sales
Increasing Demand for Cost-Effective Steel Wheels
Stringent Vehicle Safety Regulations
Technological Advancements in Steel Wheel Manufacturing
Growing Automotive Production and Sales
The expanding global automotive industry directly fuels demand for steel wheels. As more passenger vehicles are manufactured and sold worldwide, the need for new steel wheels, essential components for every car, increases proportionally. This surge in vehicle production and consumer purchases directly translates into greater market opportunities for steel wheel manufacturers, underpinning significant market growth.
Increasing Demand for Cost-Effective Steel Wheels
Growing passenger vehicle sales globally are fueling the need for affordable components. Steel wheels offer a compelling cost advantage over alternatives like aluminum, making them highly attractive to manufacturers seeking to control production expenses. This persistent demand for economical solutions drives the steel wheel market's expansion as carmakers prioritize value without compromising safety or performance.
Stringent Vehicle Safety Regulations
Stricter global vehicle safety standards are compelling automakers to prioritize wheel integrity and performance. These regulations mandate enhanced crashworthiness and occupant protection, directly influencing steel wheel design and manufacturing. Suppliers must develop more robust, reliable, and durable steel wheels that meet these stringent testing protocols and regulatory requirements, driving demand for high-quality, compliant products across the passenger vehicle sector.
Technological Advancements in Steel Wheel Manufacturing
Technological advancements drive steel wheel innovation. Lighter, stronger steel alloys and improved manufacturing processes enhance durability and fuel efficiency. Automated production ensures consistent quality and faster output. Advanced coatings provide better corrosion resistance and aesthetics. These innovations lead to superior wheels meeting modern vehicle demands and consumer expectations.
Global Passenger Vehicle Steel Wheel Market Restraints
Supply Chain Disruptions in Global Steel Manufacturing
Global steel wheel production faces significant challenges from supply chain disruptions. Geopolitical conflicts and trade restrictions disrupt raw material flow like iron ore and alloys. Logistics bottlenecks including port congestion and shipping container shortages further delay steel delivery. These disruptions increase material costs and lead times for wheel manufacturers. Consequently, vehicle production schedules are impacted, limiting market growth and forcing price adjustments for the end product. Reliable steel supply is crucial for stable global passenger vehicle steel wheel market expansion.
Fluctuating Raw Material Prices (Iron Ore, Aluminum, Rubber) Impacting Wheel Production
Unpredictable fluctuations in raw material costs like iron ore, aluminum, and rubber directly inflate production expenses for steel wheels. These volatile prices create significant challenges for manufacturers in forecasting costs and maintaining stable profit margins. The instability makes long term planning difficult and can lead to price increases for finished wheels, potentially impacting market competitiveness. This financial uncertainty acts as a substantial restraint on market growth.
Global Passenger Vehicle Steel Wheel Market Opportunities
Leveraging Steel Wheels for Cost-Effective Durability in Mass-Market EV Adoption
Steel wheels offer a crucial opportunity to accelerate mass market electric vehicle adoption. Their superior durability and significantly lower cost versus alloy alternatives directly address key barriers for consumers: initial EV price and long term ownership expenses. This makes EVs more accessible and attractive. As global EV manufacturing expands, leveraging steel wheels provides a robust, economical solution. It ensures essential reliability and affordability, enhancing the value proposition for mainstream buyers. This strategy underpins wider EV acceptance by delivering a practical, durable, and cost efficient component essential for widespread electrification.
Capturing Growth in Emerging Markets with Sustainable and Robust Steel Wheel Solutions
Emerging markets, particularly in Asia Pacific, present immense potential for steel wheel solutions providers. The rising demand for passenger vehicles in these regions creates fertile ground for market expansion. Companies can successfully seize this growth by delivering robust, high quality steel wheels tailored for diverse road conditions. Emphasizing sustainable manufacturing processes and longer product life cycles will resonate with consumers and regulations. This proactive approach ensures capturing significant share within rapidly expanding automotive sectors globally.
Global Passenger Vehicle Steel Wheel Market Segmentation Analysis
Key Market Segments
By Material Type
- •Hot Rolled Steel
- •Cold Rolled Steel
- •Alloy Steel
By Manufacturing Process
- •Casting
- •Forging
- •Machining
By Vehicle Type
- •Sedan
- •SUV
- •Hatchback
- •Coupe
By Diameter Size
- •14 inches
- •15 inches
- •16 inches
- •17 inches
- •18 inches
Segment Share By Material Type
Share, By Material Type, 2025 (%)
- Hot Rolled Steel
- Cold Rolled Steel
- Alloy Steel

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Why is Hot Rolled Steel dominating the Global Passenger Vehicle Steel Wheel Market?
Hot Rolled Steel holds a significant majority share primarily due to its cost effectiveness and robust structural integrity. It offers a favorable balance between strength and ductility, making it an ideal choice for mass production of steel wheels across various vehicle types. Its suitability for high volume manufacturing processes, coupled with its consistent performance under diverse driving conditions, reinforces its position as the preferred material among automakers seeking durable yet economical solutions.
How do manufacturing processes impact the market for steel wheels?
The choice of manufacturing process significantly influences wheel characteristics and market demand. While casting is widely adopted for its efficiency and lower cost in high volume production of basic steel wheels, forging offers superior strength and lighter weight properties, often preferred for higher end models or specific applications requiring enhanced durability. Machining acts as a finishing process, ensuring precision and balancing for both cast and forged wheels, contributing to overall product quality and performance.
What trends are emerging in steel wheel diameter sizes across different vehicle types?
Segmentation by diameter size reveals a nuanced interplay with vehicle type and consumer preferences. While smaller diameters like 14 and 15 inches remain prevalent for entry level sedans and hatchbacks due to cost and fuel efficiency, there is a noticeable shift towards larger sizes such as 16 and 17 inches for SUVs and more premium sedan models. This trend reflects consumer desire for enhanced aesthetics, improved handling, and accommodation of larger brake systems, indicating a gradual upscale movement in steel wheel specifications.
What Regulatory and Policy Factors Shape the Global Passenger Vehicle Steel Wheel Market
Global policy environments significantly impact steel wheel demand. Stringent vehicle safety standards worldwide, including UN ECE and national specifications, mandate rigorous testing for wheel integrity and durability. Environmental regulations, such as those promoting vehicle fuel efficiency and CO2 reduction, indirectly favor lighter materials; however, steel wheels benefit from high recyclability targets in End of Life Vehicle directives across regions like Europe and Asia, enhancing their sustainability credentials. Tariffs and anti dumping duties occasionally reshape trade flows and manufacturing localization. Furthermore, regional material restrictions and quality certifications influence production processes and market access. Regulatory stability and harmonization efforts generally support established steel wheel manufacturing.
What New Technologies are Shaping Global Passenger Vehicle Steel Wheel Market?
The global passenger vehicle steel wheel market is seeing significant innovation. Advanced High Strength Steels AHSS are paramount, enabling lighter, stronger wheels for improved fuel efficiency and supporting electric vehicle range requirements. Manufacturing advancements such as hydroforming and laser welding enhance structural integrity and material optimization. Surface treatment technologies are improving corrosion resistance and aesthetic appeal, extending product lifespan. Emerging designs focus on better noise vibration and harshness NVH characteristics for enhanced ride comfort. Integration of smart sensors for real time performance monitoring and safety is also on the horizon. These developments ensure steel wheels remain competitive and adapt to evolving automotive demands.
Global Passenger Vehicle Steel Wheel Market Regional Analysis
Global Passenger Vehicle Steel Wheel Market
Trends, by Region

Asia-Pacific Market
Revenue Share, 2025
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North America demonstrates a mature market with steady demand in the passenger vehicle steel wheel sector. The region, driven by replacement cycles and the continued popularity of certain vehicle segments, relies heavily on domestic production and established supply chains. While the overall market size remains substantial, growth rates are moderate. Regulatory pressures regarding fuel efficiency and vehicle weight might influence material choices long-term, but steel wheels currently maintain their dominance due to cost-effectiveness and durability. Technological advancements in steel alloys for lighter yet stronger wheels are key to retaining market share amidst evolving automotive trends.
Europe's steel wheel market for passenger vehicles shows regional nuances. Western Europe, a mature market, sees stable demand driven by replacement cycles and moderate new car sales. Eastern Europe, particularly Poland, Czech Republic, and Romania, offers growth potential with increasing automotive production and rising disposable incomes. Stringent emission regulations and the shift towards EVs could impact steel wheel demand in the long term, favoring lighter alternatives. However, the cost-effectiveness and robustness of steel wheels ensure their continued dominance in the budget and mid-range vehicle segments across the continent, with local manufacturing hubs catering to specific country demands and export markets.
The Asia Pacific region dominates the global passenger vehicle steel wheel market with a substantial 45.8% share, driven by robust automotive production and increasing demand for cost-effective wheel solutions. It is also the fastest-growing region, exhibiting a significant Compound Annual Growth Rate (CAGR) of 5.2%. This rapid expansion is fueled by strong economic growth in emerging economies, a burgeoning middle class, and continuous infrastructure development, particularly in countries like China and India. The region's large manufacturing base and focus on accessible vehicle options further solidify its leading position and future growth trajectory in the steel wheel market.
Latin America's passenger vehicle steel wheel market is heavily influenced by Brazil and Mexico, the region's largest automotive producers. Economic fluctuations and currency depreciation impact demand and local manufacturing capabilities. Increased preference for affordable vehicles drives sustained demand for steel wheels over alloys. Local steel production capacity and import tariffs also shape the competitive landscape. Key trends include the growth of entry-level and compact cars, and the expanding aftermarket. Argentina and Colombia contribute significantly, albeit with smaller market shares. The region remains a vital segment due to its developing economies and large populations seeking cost-effective transportation.
The Middle East & Africa passenger vehicle steel wheel market is experiencing growth driven by increased urbanization and rising disposable incomes. While the region currently exhibits lower market penetration compared to developed economies, demand is anticipated to surge with expanding automotive manufacturing capabilities in countries like South Africa and Morocco. Infrastructure development in the UAE and Saudi Arabia further fuels new vehicle sales. Local production capacities remain limited, leading to a reliance on imports. However, burgeoning aftermarket demand, especially in Sub-Saharan Africa, presents significant opportunities for suppliers, with a strong preference for durable and cost-effective steel wheels.
Top Countries Overview
The United States significantly influences the global passenger vehicle steel wheel market. Domestic production and consumption drive innovation and market trends. Import and export dynamics, coupled with evolving consumer demands for durability and cost effectiveness, shape its competitive landscape and long term growth trajectory.
China is a major player in the global passenger vehicle steel wheel market. Its domestic production capacity is substantial, serving both internal demand and significant exports. Competitive pricing and established manufacturing infrastructure drive its market presence, impacting global supply chains and cost structures within the automotive industry.
India significantly contributes to the global passenger vehicle steel wheel market. Robust domestic automotive production and exports drive demand. Local manufacturers are expanding capabilities, meeting both OEM and aftermarket needs. Technological advancements in design and material contribute to a competitive landscape, with sustainability gaining importance in manufacturing processes.
Impact of Geopolitical and Macroeconomic Factors
Geopolitical tensions, particularly trade disputes and protectionist policies, can disrupt steel supply chains and elevate raw material costs for wheel manufacturers. Regional conflicts impacting key steel producing nations or shipping lanes pose significant risks, potentially creating shortages and price volatility.
Macroeconomic factors such as global economic growth and consumer confidence directly influence vehicle sales, thus impacting demand for steel wheels. Interest rate hikes, inflation, and currency fluctuations affect manufacturing costs and consumer purchasing power, further shaping market dynamics for this essential component.
Recent Developments
- March 2025
Maxion Wheels announced a strategic initiative to expand its lightweight steel wheel production capabilities across its European facilities. This move is aimed at meeting the increasing demand from European automakers for lighter, more fuel-efficient passenger vehicles.
- February 2025
Steel Strips Wheels (SSWL) launched a new line of advanced high-strength steel wheels designed for electric vehicles (EVs). These wheels offer improved durability and reduced weight, catering specifically to the unique requirements of EV manufacturers for enhanced range and performance.
- January 2025
Topy Industries entered into a partnership with a major global automotive OEM to co-develop a new generation of noise-reducing steel wheels. This collaboration focuses on integrating innovative dampening technologies directly into the wheel structure to improve cabin comfort.
- November 2024
GKN Wheels initiated a strategic initiative to invest heavily in automation and digitalization across its global steel wheel manufacturing plants. This aims to enhance production efficiency, reduce lead times, and improve product quality in response to market demands.
- September 2024
Accuride Corporation announced a product launch of a new series of eco-friendly steel wheels utilizing a more sustainable manufacturing process. This initiative aligns with growing environmental concerns and offers automotive manufacturers a greener option for their vehicle components.
Key Players Analysis
The Global Passenger Vehicle Steel Wheel Market sees major contributions from key players like Maxion Wheels, Steel Strips Wheels, and Topy Industries, who are dominant in steel wheel manufacturing, often utilizing advanced stamping and welding technologies. GKN Wheels and Accuride Corporation also hold significant market share with their robust production capabilities and focus on quality and durability. Companies like Jiangxi Sida and Nantong Yongyi represent strong regional players, often competing on cost-effectiveness and localized supply chains. While Lamborghini Wheels, Alpina Wheels, and Kosei Aluminum are prominent in high-performance or alloy wheel segments, their direct impact on the steel wheel market is minimal. Strategic initiatives across the steel wheel market include lightweighting technologies, improved corrosion resistance, and sustainable manufacturing practices, driven by increasing vehicle production and evolving safety and emissions regulations.
List of Key Companies:
- Alpina Wheels
- Kosei Aluminum
- Jiangxi Sida
- Lamborghini Wheels
- Accuride Corporation
- GKN Wheels
- Topy Industries
- Maxion Wheels
- Nantong Yongyi
- Steel Strips Wheels
- Mefro Wheels
- Jiangxi Bairuijia
Report Scope and Segmentation
| Report Component | Description |
|---|---|
| Market Size (2025) | USD 18.7 Billion |
| Forecast Value (2035) | USD 24.3 Billion |
| CAGR (2026-2035) | 4.1% |
| Base Year | 2025 |
| Historical Period | 2020-2025 |
| Forecast Period | 2026-2035 |
| Segments Covered |
|
| Regional Analysis |
|
Table of Contents:
List of Figures
List of Tables
Table 1: Global Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Material Type, 2020-2035
Table 2: Global Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Manufacturing Process, 2020-2035
Table 3: Global Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Vehicle Type, 2020-2035
Table 4: Global Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Diameter Size, 2020-2035
Table 5: Global Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Region, 2020-2035
Table 6: North America Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Material Type, 2020-2035
Table 7: North America Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Manufacturing Process, 2020-2035
Table 8: North America Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Vehicle Type, 2020-2035
Table 9: North America Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Diameter Size, 2020-2035
Table 10: North America Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Country, 2020-2035
Table 11: Europe Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Material Type, 2020-2035
Table 12: Europe Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Manufacturing Process, 2020-2035
Table 13: Europe Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Vehicle Type, 2020-2035
Table 14: Europe Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Diameter Size, 2020-2035
Table 15: Europe Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
Table 16: Asia Pacific Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Material Type, 2020-2035
Table 17: Asia Pacific Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Manufacturing Process, 2020-2035
Table 18: Asia Pacific Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Vehicle Type, 2020-2035
Table 19: Asia Pacific Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Diameter Size, 2020-2035
Table 20: Asia Pacific Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
Table 21: Latin America Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Material Type, 2020-2035
Table 22: Latin America Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Manufacturing Process, 2020-2035
Table 23: Latin America Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Vehicle Type, 2020-2035
Table 24: Latin America Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Diameter Size, 2020-2035
Table 25: Latin America Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
Table 26: Middle East & Africa Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Material Type, 2020-2035
Table 27: Middle East & Africa Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Manufacturing Process, 2020-2035
Table 28: Middle East & Africa Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Vehicle Type, 2020-2035
Table 29: Middle East & Africa Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Diameter Size, 2020-2035
Table 30: Middle East & Africa Passenger Vehicle Steel Wheel Market Revenue (USD billion) Forecast, by Country/ Sub-region, 2020-2035
