This character is a Other Symbol and is commonly used, that is, in no specific script.
The glyph is not a composition. Its East Asian Width is wide. In bidirectional text it acts as Other Neutral. When changing direction it is not mirrored. U+1F6DE offers a line break opportunity at its position, except in some numeric contexts.
The CLDR project calls this character βwheelβ for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: circle, tire, turn.
This character is designated as an emoji. It will be rendered as colorful emoji on conforming platforms. To reduce it to a monochrome character, you can combine it with Variation Selector-15: ποΈ See the Emojipedia for more details on this characterβs emoji properties.
The Wikipedia has the following information about this codepoint:
A wheel is a rotating component (typically circular in shape) that is intended to turn on an axle bearing. The wheel is one of the key components of the wheel and axle which is one of the six simple machines. Wheels, in conjunction with axles, allow heavy objects to be moved easily facilitating movement or transportation while supporting a load, or performing labor in machines. Wheels are also used for other purposes, such as a ship's wheel, steering wheel, potter's wheel, and flywheel.
Common examples can be found in transport applications. A wheel reduces friction by facilitating motion by rolling together with the use of axles. In order for wheels to rotate, a moment needs to be applied to the wheel about its axis, either by way of gravity or by the application of another external force or torque. Using the wheel, Sumerians invented a device that spins clay as a potter shapes it into the desired object.