According to a new market research report published by Credence Research “Wheel Aligner Equipment Market (by Technology: CCD Wheel Aligner and 3D Wheel Aligner; by Vehicle Type: Passenger Car, Light Commercial Vehicle (LCV) and Heavy Commercial Vehicle (HCV)) – Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the wheel aligner equipment market registered market value of US$ 627.0 Mn in 2017 and estimated to grow with a CAGR of 5.8% during the forecast period from 2018 to 2026.
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Total number of passenger car sales in 2018 cross the figure of 80 Mn units and is still counting. The aforementioned number indicates the momentous growth of automotive industry which in proportion driving the adjacent industries such as after sales and services. Wheel alignment service is one of the several other automotive services witnessing a rapid proliferation along with the automotive industry. Wheel alignment is an important process to keep a check on vital wheel parameters including castor, camber, toe-in, toe-out and king pin inclinations. The parameters helps in achieving better stability and extend automotive tires’ life and therefore, every consumers’ conducts routine wheel alignment. Owing to the factor, the demand for wheel aligner equipment experiencing a consistent growth and expected to grow beyond US$ 1 Bn mark by 2026.
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Growing disposable income and ease in buying an automotive are few of the major factors lifted Asia Pacific as the leader in overall wheel aligner equipment market. Asia Pacific is closely followed by North America and Europe. Several nations in North America and Europe are shifting towards cleaner electric automobiles replacing conventional IC engines. However, the change have no impact on the wheel aligner equipment market in the regions and hence expected to register consistent growth throughout the forecast period from 2018 to 2026.
The research analysis covers exhaustive analysis of leading wheel aligner equipment manufacturers including Atlas Auto Equipment, Delta Equipments, Eagle Equipment, Fori Automation, Hofmann TeSys, Hunter Engineering Company, Manatec Electronics Private Limited, RAVAmerica, Sunrise Instruments Private Limited, Snap-on Incorporated and Vehicle Service Group. Overall wheel aligner equipment market is quite fragmented and characterized by a number of multinational as well as local players. These players face each other in s breath taking competition in order to claim their market share. International players are trying to expand their geographical presence. Besides, other crucial strategies adopted by aforementioned players are discussed in detail in publish reports.
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Key Analysis Covered:
- Continuously rising number of on-road automobiles and their effect on the demand for wheel aligner equipment market
- Major wheel aligning technology advancement and their growth complementing the growth of wheel aligner equipment market
- Significance of wheel aligner equipment for different vehicle types and their market value
- Growing demand for electric vehicles and automotive sector stimulating the need for wheel aligner equipment
- Importance of role of Asia Pacific, Middle East & Africa, and Latin America in overall wheel aligner equipment market
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