Tire Balancer Market size is estimated to be USD 1.2 Billion in 2024 and is expected to reach USD 1.8 Billion by 2033 at a CAGR of 5% from 2026 to 2033.
In 2022, the global wheel balancing market was valued at approximately $2.4 billion, with projections indicating a compound annual growth rate (CAGR) exceeding 3% from 2023 to 2032. The Asia Pacific region led the market, accounting for around $920 million in 2022, driven by a rising middle class population and increased vehicle ownership. North America and Europe also held substantial market shares, supported by robust automotive industries and stringent safety regulations.Opportunities in the tire balancer market are expanding due to the increasing adoption of electric vehicles (EVs), which require precise wheel balancing for optimal performance. Technological advancements, such as automated and mobile wheel balancing solutions, are enhancing service efficiency and convenience. Additionally, the growing awareness of vehicle maintenances role in safety and performance is boosting demand in the aftermarket segment. However, challenges like the shortage of skilled technicians may impact market growth, emphasizing the need for targeted training programs.
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Bosch
Corghi
Snap-on
Hunter
Hennessy Industries
MAHA
CEMB
Cormach Srl
Ravaglioli
Giuliano
Bright
Balancer
Sino-Italian Taida
Coseng
Anchor
Kwingtone
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Tire Balancer Market
Static Tire Balancers
Dynamic Tire Balancers
Electronic Tire Balancers
Laser Tire Balancers
Computerized Tire Balancers
Passenger Vehicles
Light Commercial Vehicles
Heavy-Duty Vehicles
Motorcycles
Specialty Vehicles
Direct Sales
Online Retailers
Independent Tire Shops
Automotive OEMs
Aftermarket Suppliers
Economy Tire Balancers
Mid-Range Tire Balancers
Premium Tire Balancers
Professional Tire Balancers
Portable Tire Balancers
Automotive Repair Shops
Tire Manufacturing Companies
Fleet Operators
DIY Enthusiasts
Commercial Vehicle Service Providers
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Tire Balancer Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Tire Balancer Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Tire Balancer Market, By Type
6. Global Tire Balancer Market, By Application
7. Global Tire Balancer Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Tire Balancer Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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