Market Overview
Commercial vehicles and modern cars are highly tuned vehicles, and driver comfort, anticipated performance, tire life and fuel economy can be negatively impacted by even a small imbalance, fractions of an ounce matters a lot today, thus the wheel balancing machines were introduced in the market. Wheel balancing machines are primarily utilized to ensure that the weight is distributed equally around the wheel and that the tyre rotates evenly.
When a tire is attached to a wheel, the overall finished wheel assembly must be balanced. The process ensures that all the imbalances of mass are checked and used weights are balanced. Thus, the need for the wheel balancing machines were increased.
Maintaining proper balance of wheel is the critical part for maintaining the life of tire, also proper balancing ensures that the vehicle has a vibration free and smooth ride. Hence, the demand for the wheel balancing machines is continuously rising across the globe.
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Market Segmentation
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Global Wheel Balancing Machines Market: Dynamics
Increasing demand for the commercial vehicles as well as passenger cars is supporting the production of vehicles. In order to ensure that the weight is evenly distributed throughout each tires and wheels on a vehicle, the wheel needs to be balanced. Thus, in turn escalating the demand for the wheel balancing machines and hence driving the global wheel balancing machines market.
Development of low cost, high quality and technologically advanced machines is one of the key challenge in the global wheel balancing machines market.
Introduction of patented PROtouch technology based wheel balancing machine in the market is one of the key milestone in the digital balancers. For instance, recently, John Bean has introduced the wheel balancing machine for garages and independent tire shops. The aforementioned factors are found to be one of the key trends identified in the global wheel balancing machines market.
Global Wheel Balancing Machines Market: Regional Outlook
Considering regions, the global wheel balancing machines market is anticipated to be dominated by Asia-Pacific region, owing to the increasing demand for passenger cars and two-wheelers across the China and India. Growth in the vehicles demand across the developing countries is largely supported by the growing population and infrastructure. Asia-Pacific in the global wheel balancing machines market is anticipated to be followed by Europe, owing to the growing demand for the machines from automotive industry.
Europe is anticipated to be followed by North America over the near future in the global wheel balancing machines market. Latin America and Middle East & Africa are expected to account for small share in the global wheel balancing machines market and are anticipated to grow at moderate rate over the next decade in the global wheel balancing machines market.
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Global Wheel Balancing Machines Market: Market Participants
Examples of some of the market participants involved in the global Wheel Balancing Machines market include Hunter Engineering Company, CEMB S.p.A., Hofmann Maschinen- und Anlagenbau GmbH, Tecalemit Garage Equipment Company Limited, Dannmar Equipment, SIGNET AUTOMATION ENGINEERS PVT. LTD., Robert Bosch GmbH, BendPak Inc., Atlas Auto Equipment, Snap-on Incorporated, Giuliano Industrial S.p.A., Shanghai Balance Automotive Equipment CO., Ltd. and others.
Prominent manufacturers of wheel balancing machines are focusing on introduction of customer specific machines for imbalance compensation.
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