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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