Global Wheel Service Equipment Market – Introduction
- Tire changer, wheel alignment, balancing machine, 3D wheel aligner, on-car brake lathe, and test lane, etc. are the various wheel service equipment used for aligning, balancing, changing, inflating, and vehicle fitness testing of wheels. Wheel service equipment are available online on e-commerce websites such as Amazon. Mechanics with wheel service equipment are available online also, or at a call, which has increased the sales of wheel service equipment. Different types of wheel service equipment are offered that work on different wheels/tires, depending on the heaviness of the tire/wheel. They also work on light-weighted wheels such as alloy wheel, chrome coated wheels, and modern alloy wheels, and based on the type of vehicle such as cars, scooters, three-wheelers, and trucks. The global wheel service equipment market is growing at a substantial rate owing to the presence of numerous automobile service providers by the roadside (garages), and cheap maintenance service charge levied by them.
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Rising demand from the automotive sector and increase in production of passenger vehicles – driving factors of the wheel service equipment market
- The high demand for automobiles has increased sales in the automotive sector, leading to demand for frequent wheel alignment and use of wheel service equipment for vehicles. The growth of the global wheel service equipment market is closely related to the number of automobiles sold in the market. Various types of wheel service equipment have been designed due to rapid increase in the number of vehicles on the road and the emphasis on safety of vehicles on the road. The increase in passenger cars such as Sedan, sports car, hatchback, and others due to favorable government policies in many countries is driving the wheel service equipment market.
Safety of passengers travelling by road and availability of skilled professionals
- The number of road accidents is increasing; wheel service equipment is essential to enable safe drives in cars and public vehicles. The equipment is used by skilled professionals and enhances fuel efficiency, reduces expensive auto repair, leads to a smoother drive, and improves vehicle safety. These factors have led to the rising demand for wheel service equipment. The rise in demand for safety and comfort has led to innovations in product development of wheel service equipment. Besides, demand for portable and wireless wheel service equipment machine is increasing.
Asia Pacific Considered the Largest Market for Wheel Service Equipment
- Geographically, the global wheel service equipment market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominates the commercial vehicles sector; consumers in North America frequently maintain their vehicles with wheel service equipment. Significant expansion in the tier-1 automobile manufacturers segment in Europe is expected to increase the sales of wheel service equipment during the forecast period. Germany has a significant share in the market in the automobile sector where wheel service equipment work on the automobiles produced in the country.
- Asia Pacific is expected to dominate the wheel service equipment market globally. The major manufacturers of automobiles are based in APAC especially in China and Japan. Low cost vehicles are available in Malaysia, leading to the increased usage of wheel service equipment throughout Asian countries. One of the main manufacturers of automobiles is India as well, thus leading to higher market share of wheel service equipment in the region, and a surge in demand is expected during the forecast period.
Key Players Operating in the Wheel Service Equipment Market
Numerous companies operating in the wheel service equipment market face tough competition. Companies such as CEMB USA, CORMACH, JohnBean, and Hunter Engineering manufacture wheel service equipment globally, introducing new age products which are more technologically advanced, innovative, and time saving. Some of the key players operating in the global wheel equipment market include:
- CEMB USA
- CORMACH
- JohnBean
- Hunter Engineering
- Hofmann TeSys
- Sunrise Instruments
- Beissbarth
- Manatec
- Corghi
- RAVAmerica
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Global Wheel Service Equipment Market – Research Scope
Global Wheel Service Equipment Market, by Product Type
- Wheel Alignment
- Wheel Balancer
- Tire Changer
- Others
Global Wheel Service Equipment Market, by Application
- Commercial Vehicles
- Passenger cars
Global Wheel Service Equipment Market, by Distribution Channel
- Offline
- Online
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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