Automotive Wheel Balancing Machine Market Size, Share & Industry Analysis, By Product Type (Static Wheel Balancing Machines, Dynamic Wheel Balancing Machines, Bubble Wheel Balancing Machines), By Operation Type (Automatic, Semi-Automatic, Manual), By Sales Channel Type (OEM, Aftermarket) And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
A balancing machine is defined as a tool used to measure the balance of rotating machinery (such as disk drive rotors, motors, disc brakes, propellers, turbines, and fans). The wheel balancer is mainly used to ensure that the weight is evenly distributed on the wheels and to ensure that the tires rotate evenly. Wheel balancing are of two types supporting an escalating platform with bearings and suspension on the top. Commercial vehicles and modern vehicles are highly adjusted vehicles. Even small imbalances, driver comfort, expected performance, tire life and fuel economy may be negatively affected. Today a fraction of an ounce is very important, so a wheel balancing machine plays a vital role in balancing the rotating machine.
Key Market Driver -
Rise in the demand for balancing rotating components is expected to drive the growth of the market in the forecast period.
Key Market Restraint -
High initial capital investment may hamper the growth of the market during the forecast period.
Market Segmentation:
Globally, the Automotive Wheel Balancing Machine market is segmented by product type, by operation type, by sales channel type, by vehicle type and by geographic coverage. Based on product type, the market is further segmented into static wheel balancing machine, Dynamic wheel balancing machine, bubble wheel balancing machine, and others. The dynamic wheel balancing machine is expected to dominate the market over the forecast period. Growing need for balancing of rotary machines is one of the biggest factors dominating the market over the forecast period. By operation type, the market is segmented into automatic and semi-automatic. The automatic segment is expected to dominate the market during the forecast period. Increasing awareness regarding précised wheel balancing is helping to maintain the dominance of automatic segment. By operation type the market is segmented into OEM and Aftermarket. The OEM segment is expected to dominate the market over the forecast period. The precise wheel balancing and low operating cost is helping to dominate the market during the forecast period.
Key Players:
Major players operating in the global Automotive Wheel Balancing Machine market include Hunter Engineering Company, CEMB S.p.A., Hofmann Maschinen- und Anlagenbau GmbH, Tecalemit Garage Equipment Company Limited, Dannmar Equipment, SIGNET AUTOMATION ENGINEERS PVT. LTD., Robert Bosch GmbH, BendPak Inc., Atlas Auto Equipment, Snap-on Incorporated, Giuliano Industrial S.p.A., and Shanghai Balance Automotive Equipment CO., Ltd. among others.
Key Insights
- New Advancements in Automotive Wheel Balancing Machine
- Number of Products, Key Countries, 2020
- New Product Launches, Key Players
Regional Analysis:
Geographically, the Automotive Wheel Balancing Machine market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific holds the maximum share in the global market and is expected to propel further owing to the rapid adoption of advanced technologies by the automotive industry. Developing and developed countries such as India, China, Japan and South Korea are the largest contributors in the world’s automotive market. In addition, with the rapid urbanization of cities in countries such as India, China, and ASEAN countries, the demand and sales of passenger cars have been increasing, which in turn has increased the demand for automotive wheel balancing market. The European region accounted for one of major share of the industry and is expected to remain the second-largest market during the forecast period. North America to show slow growth in the market over the forecast period.
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Segmentation
ATTRIBUTE | DETAILS |
By Product Type |
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By Operation Type |
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By Sales Channel Type |
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By Geography |
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- Ongoing
- 2023
- 2019-2022
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