Wheel alignment is a necessary process to be conducted at a specific time interval, in order to achieve high performance and efficiency of vehicles and vehicle brake components. In wheel alignment, all the wheels are checked for camber, caster, toe, and suspension height. Vehicle wheels undergo wear and withstand various bumps and vibration; consequently, the tires lose their alignment. Misaligned wheels lead to faster tire and brake pad wear, noise, vibration, thereby hampering the operation of the vehicle.
Vehicle manufacturers suggest wheel alignment to be carried out every six months or after every 10,000 kilometers, whichever occurs first. This, in turn, is driving the global automotive wheel alignment service market. Moreover, increased tire life, increased lifespan of braking components, and noise- and vibration-free operation are advantages offered by periodic wheel alignment. This, in turn, drives the global automotive wheel alignment service market. The procedure to align the wheels is inexpensive and requires less time and hence, consumers do not avoid postpone undertaking this procedure. Rising demand for vehicles across the globe is fueling the demand for global wheel alignment service.
The global automotive wheel alignment service market can be segmented based on vehicle type, service provider, and region. In terms of vehicle type, the global automotive wheel alignment service market can be segregated into four segments. Number of passenger cars running on-road across the globe is considerably high and hence, the passenger vehicle segment is estimated to account for a major share of the market, in terms of revenue, by the end of the fiscal year 2018. Moreover, rise in per capita income coupled with availability of easy finance alternatives is fueling the demand for passenger vehicles across the globe, which in turn is projected to drive the automotive wheel alignment service market.
In terms of service provider, the global automotive wheel alignment service market can be bifurcated into OEM and private. The OEM segment comprises tire manufacturers and vehicle manufacturers. A large number of consumers prefer OEM services, owing to their reliability. There are a large number of private wheel alignment service providers operating across the globe. Lower investment coupled with rising demand is propelling the private segment of the market.
In terms of region, the global automotive wheel alignment service market can be segmented into five regions. Asia Pacific accounts for a majority of vehicles across the globe; therefore, the region accounts for a major share of the global market, in terms of revenue. Presence of a large consumer base with increasing per capita income, significantly large manufacturing industry in the region, expansion of road network, and expansion of construction and agriculture sectors of the region are fueling the demand for vehicles, which in turn is estimated to boost the automotive wheel alignment service market in Asia Pacific.
The global automotive wheel alignment service market comprises of a large number of local and private players. Major OEMs operating in the global automotive wheel alignment market include BMW AG, Volkswagen AG, Daimler AG, Tata Motors, Mahindra & Mahindra Ltd., Hyundai Motor Company, Bridgestone Corporation, The Goodyear Tire & Rubber Company, and BYD Company Ltd. Moreover, there are several private players operating in the global automotive wheel alignment market, which include Hunter Engineering Company, Manatec Electronics Private Limited, Global Automotive, and Robert Bosch GmbH.
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