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Wheel Balancing Market Trends

  • Report ID: GMI7203
  • Published Date: Oct 2023
  • Report Format: PDF

Wheel Balancing Market Trends

Mobile wheel balancing is an emerging trend in the wheel balancing industry, offering on-the-go services at customer locations. This approach provides convenience and flexibility, eliminating the need for customers to visit service centres. Mobile units equipped with advanced balancing equipment can cater to a wider customer base, including individuals, fleet owners, and businesses. As the demand for efficient and customer-centric services grows, mobile wheel balancing will meet the need for quick, on-site solutions, making it a prominent trend in the industry.
 

Automated wheel balancing is gaining traction in the wheel balancing industry, representing a shift toward increased efficiency and precision in the industry. Automated machines and systems are becoming more prevalent, reducing the need for manual labour, and minimizing human errors. These systems can quickly and accurately identify imbalances and apply the necessary adjustments, improving service quality and shortening the wait times for customers. This trend aligns with the demand for faster, more consistent, and technologically advanced wheel balancing services.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of wheel balancing reached USD 2.4 billion in 2022 and is set to witness 3% CAGR between 2023 and 2032, due to increasing vehicle ownership and usage.

The aftermarket segment held around 60% market share in 2022, as with the expanding vehicle fleet, including both conventional and EVs, the demand for wheel balancing solutions in the automotive aftermarket also rises.

Asia Pacific market accounted for a revenue of USD 0.92 billion in 2022, attributed to this expansion include a rising middle-class population, increased vehicle ownership, and greater mobility demands.

Hunter Engineering Company, Snap-on Incorporated, Robert Bosch GmbH, 3M, Corghi S.p.A., ravaglioli.com, and BendPak Holdings LLC.

Wheel Balancing Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 20
  • Tables & Figures: 325
  • Countries covered: 20
  • Pages: 300
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