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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.

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.

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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:

  • 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.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Wheel Service Equipment Market

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