Automotive Wheel Alignment Services Market - New Actionable Insights 2023

 

According to a new report published by UnivDatos Markets Insights, the automotive wheel alignment services market was valued at USD XX million in 2021 & is expected to grow at a CAGR of 4.0% from 2022-2030. The analysis has been segmented into Vehicle Type (Passenger Vehicle and Commercial Vehicle); Product Type (Imaging Wheel Alignment Machine and Diagnostic Wheel Alignment Machine]; Service Provider (OEM, Franchise, Dealership Authorized, And Others]; Region/Country.

The automotive wheel alignment services market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the automotive wheel alignment services market. The automotive wheel alignment services market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the automotive wheel alignment services market at the global and regional levels.

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Key Market Dynamics

Wheel alignment services are critical to ensuring the safety and reliability of your vehicle. Proper wheel alignment ensures that your tires wear evenly, and your vehicle handles properly while driving. The misaligned wheel can cause your vehicle to pull to one side, making it difficult to maintain control on the road. This can be especially during bad conditions when the road is icy or slick. Wheel alignment services should be done on the regular basis to ensure the proper safety of passengers and goods. In addition, investing in regular wheel alignment services can help to prevent safety hazards and ensure that your vehicle operates at its best. Commercial vehicles have a high need for wheel alignment services to pick up heavy loads safely and to cover long distances. Moreover, the government has approved some specifications for automotive manufacturers to follow in terms of maintaining the safety of the vehicle and preventing any mishappening. The breakdown of the vehicle can cause death or serious injuries. Hence, to prevent these situations wheel alignment services are mandatory. For instance, according to WHO, Road traffic injuries are the leading cause of death for children and young adults aged 5-29 years.

COVID-19 Impact

The automotive wheel alignment services market has been significantly affected by the COVID-19 pandemic mainly because transportation systems and supply chains have been widely disrupted. The automotive wheel alignment services market is closely linked to the broader transportation industry, which has undergone various challenges and changes because of the pandemic. A major consequence of the COVID-19 pandemic on the automotive wheel alignment services market has been a reduction in the demand for automotive services. Since many businesses have either closed or operated with reduced capacity, there has been a decrease in the necessity for transporting goods and commodities by rail. This has led to a drop in the demand for automotive wheel alignment services and other equipment and components required for service. The global automotive wheel alignment services market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

·        Based on vehicle type, the market is segmented into passenger vehicle and commercial vehicle.

·        By product type, the market is bifurcated into imaging wheel alignment machine and diagnostic wheel alignment machine.

·        By Service Provider, the market is bifurcated into OEM, Franchise, Dealership Authorized, and others .

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Automotive Wheel Alignment Services Market Market Geographical Segmentation Includes:

·        North America (U.S., Canada, and the Rest of North America)

·        Europe (Germany, UK, France, Italy, Spain, Rest of Europe)

·        Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific)

·        Rest of the World

The automotive wheel alignment services market in North America holds the second largest share globally due to a steady increase in vehicle ownership leading to a greater demand for maintenance and repair services. In addition, the harsh weather conditions in the region can cause significant wear and tear on the vehicle’s wheel and suspension system. Moreover, North America has some of the highest safety standards for vehicles globally, with proper wheel alignment being an essential component of safe driving. The government in North America is also working to standardize safety to reduce the causes of accidents and deaths.

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the automotive wheel alignment services market. The major players have been analyzed by using research methodologies such as Porter’s Five Forces Analysis for getting insight views on global competition.

Recent Developments:

·        In 2023, JK Tyres opens six retail shops in Haryana, UP, and Rajasthan. These outlets are strategically located to build brand connections with the customers in these markets. These are one-stop shops offering end-to-end care for complete tire sales and service requirements for our consumers, including computerized wheel alignment, wheel balancing, automated tire changing, tire rotation, nitrogen inflation, and air care, all under one roof, the company said.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the automotive wheel alignment services market?

• Which factors are influencing the automotive wheel alignment services market over the forecast period?

• What are the global challenges, threats, and risks in the automotive wheel alignment services market?

• Which factors are propelling and restraining the automotive wheel alignment services market?

• What are the demanding global regions of the automotive wheel alignment services market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

• What are the descriptive profiles of key companies along with their SWOT analysis?

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