Persistence Market Research (PMR) has released a new market study on the wheel balancing weights market that involves the global industry analysis 2014–2018 and forecast 2019–2029. According the product definition, wheel balancing weights or wheel weights (balance weights) are used to balance a tire and wheel assembly. A wobbling and out-of-balance wheel can adversely affect the quality of ride and shorten the life of bearing, tires, and suspension components. Wheel balancing weights act as an indispensable component offering benefits such as fuel saving, enhanced tire efficiency, and improve comfort and safety.
Additionally, the report offers a thorough analysis of the wheel balancing weights market for the upcoming ten years. The report on wheel balancing weights summarizes macroeconomic factors that could assist and influence the growth of the wheel balancing weights market and forecast factors. Moreover, the report titled- wheel balancing weights market, as per the assessment, it was estimated at ~US$ 420 Mn in 2018 and is anticipated to reach a value of ~US$ 750 Mn by the end of 2029, influenced by the cyclic trend of the automotive industry and new product launches. The wheel balancing weights market is expected to grow at a moderate CAGR of ~6% during the assessment period.
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FACTS AT A GLANCE
Companies: WEGMANN Automotive GmbH (Brands covered are HOFMANN POWER WEIGHT, Perfect Equipment Inc., Plombco), 3M Automotive, Hennessy Industries, LLC (BADA), Wurth USA, Inc., HARTEC s.a.l (Hatco brand), Cangzhou Yaqiya Auto Parts Manufacturer Co., Ltd., BeiJiaDe Auto Accessory Co., Ltd., BendPak Inc., Banner GmbH, Trax JH Ltd., P.C. Products Company International Limited, Bharat Balancing Weightss, B.S. Wheel Balance Pvt. Ltd., Italmatic Srl, Toho Kogyo Co., Ltd., and TOHO ZINC CO., LTD., among others
Coverage: All major geographies and key segments
Segments: Wheel Balancing Weights Market Segmented By Clip-on Weights, Adhesive Weights Product Type with Material used Lead, Zinc, Steel, Tin in Steel Wheel and Alloy Wheel Type
Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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ABSTRACT-
The report is structured to allow readers to develop a thorough understanding of the wheel balancing weights market. It begins with market definitions, which are followed by the market background, market dynamics, and market analysis by key segments, regional analysis, and competition landscape. Each section covers a qualitative and quantitative assessment of the Wheel Balancing Weights market on the basis of facts, historical developments, and key opinions collected from industry participants through dedicated interviews and trends in the Wheel Balancing Weights market.
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