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Tire and Wheel Handling Equipment Market by Equipment Type (Wheel Balancer, Tire Changer, Tire Inflator, Wheel Alignment Systems, Lifting Equipment), by Vehicle Type (Two Wheelers, Passenger Vehicle, Commercial Vehicle), by End User, 2018 – 2032 (Automotive Repair Shops, Tire Service Centers, Motorcycle Repair Shops, Automotive OEM Dealerships), by North America (U.S., Canada), by Europe (UK, Germany, France, Italy, Spain, Russia, Norway), by Asia Pacific (China, India, Japan, South Korea, ANZ, Southeast Asia), by Latin America (Brazil, Mexico, Argentina), by MEA (UAE, South Africa, Saudi Arabia) Forecast 2025-2033
The size of the Tire and Wheel Handling Equipment Market market was valued at USD 3.2 Billion in 2023 and is projected to reach USD 4.21 Billion by 2032, with an expected CAGR of 4% during the forecast period.The market for tire and wheel handling equipment includes the production and utilization of specialized tools that are created to lift, shift, place, and mount tires and wheels across different sectors such as automotive, manufacturing, and logistics. This machinery consists of tire changing machines, balancing machines, tire pressing equipment, and automated systems that enhance productivity and minimize the potential for harm in tire and wheel manipulation. Market drivers consist of the rising need for cars, especially in developing countries, and the growing emphasis on automating and improving tire care. Furthermore, the market is expanding due to the increased popularity of electric vehicles (EVs) and the demand for specialized tire and wheel handling solutions for EVs. Nevertheless, obstacles consist of the expensive nature of sophisticated tools, the intricacy of incorporating modern technologies into current systems, and the requirement for proficient workers to operate specialized machinery. Market innovation is concentrating on improving the efficiency, precision, and automation of tire and wheel handling procedures, with advancements like automated tire changers, intelligent balancing systems, and tire inspection technologies. Research is also looking into combining artificial intelligence with IoT to improve tire maintenance and monitor performance data. With the rise in automotive manufacturing and the move towards automated, eco-friendly solutions, the market for tire and wheel handling equipment is projected to expand due to technological progress and changing industry needs.
The tire and wheel handling equipment market is moderately concentrated, with a few key players accounting for a significant market share. The market is characterized by innovation, with companies investing heavily in research and development to introduce new and advanced products. Regulations play a crucial role in the market, as they ensure the safety and quality of equipment. Product substitutes, such as manual labor and repair kits, are available, but they offer limited functionality compared to purpose-built equipment. The end user concentration is high, as automotive repair shops, tire service centers, and motorcycle repair shops account for the majority of demand. The level of M&A activity is moderate, with companies seeking to expand their product offerings and geographic reach.
The tire and wheel handling equipment market is undergoing a significant transformation, driven by the increasing adoption of automated systems, the growing popularity of mobile equipment, and the increasing use of cloud-based software.
Automated systems offer several advantages, including increased efficiency, reduced labor costs, and improved accuracy. Mobile equipment is more convenient and versatile than traditional stationary equipment, making it ideal for on-site services and emergency repairs. Cloud-based software provides real-time data and insights, enabling businesses to optimize their operations and improve customer satisfaction.
The Asia Pacific region is expected to dominate the tire and wheel handling equipment market, with China and India contributing a significant share. The growth in this region is driven by the increasing number of vehicles on the road, rising disposable incomes, and government initiatives promoting vehicle ownership. The passenger vehicle segment is expected to account for the largest market share, due to the increasing sales of passenger cars and SUVs.
The Tire and Wheel Handling Equipment Market Product Insights Report provides a comprehensive overview of the market, including market size, market share, and growth projections. The report also analyzes key market trends, drivers, and challenges. The report includes detailed profiles of leading market players, along with their product offerings and market strategies. The report is delivered in a PDF format and includes interactive charts and graphs.
In 2023, the tire and wheel handling equipment market was valued at $2.8 billion. The market is projected to grow at a CAGR of 4% over the forecast period, reaching $3.2 billion by 2032. The growth is driven by the increasing number of vehicles on the road, rising disposable incomes, and government initiatives promoting vehicle ownership. Asia Pacific is the largest regional market, followed by North America and Europe. The passenger vehicle segment is expected to account for the largest market share, due to the increasing sales of passenger cars and SUVs.
North America
Europe
Asia Pacific
Latin America
MEA
Equipment Type
Vehicle Type
End User
May 2023: Yokohama Rubber completed the acquisition of Trelleborg Wheel Systems, a Swedish manufacturer of off-highway tires for agricultural and industrial machinery. The acquisition is part of Yokohama Rubber's strategic initiatives to expand its OHT business, which is positioned to drive growth of the company's commercial tire business under Yokohama's Transformation 2023 management plan for FY 2021-FY 2023.
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 4% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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