Pune, Maharashtra -- (SBWIRE) -- 03/29/2019 -- Fact.MR's latest forecast study on the global wheel and tire service equipment market projects that by the end of 2026, wheel and tire service equipment worth over US$ 4.5 Bn will be sold across the globe. The report also reveals that the global wheel and tire service equipment market will expand at a moderate CAGR of 3.5% in terms of volume, during the forecast period, 2017-2026.

Increasing sales of automobiles has instrumented an upsurge in demand for equipment that properly maintain the vehicles and service their key parts such as wheels and tires. Garage owners are installing advanced wheel and tire service equipment to capitalize on growing wheel replacement rate and the degrading quality of tires. Customization needs of vehicle owners is another factor driving the demand for wheel and tire service equipment. 

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Key Research Findings from Fact.MR's Report

Light vehicles and two wheelers will account for largest shares of the market, in terms of revenues
Based on garage type, automotive OEM dealerships will continue to be dominant in the market, followed by franchise garage
Competition Tracking

Imperative assets of market players include brand image and penetration through state-of-the-art equipment. In addition, wheel and tire service equipment manufacturers are infusing relatively lower cost products for attracting smaller, price-sensitive garages. Key players identified by Fact.MR's report include Arex Test Systems B.V., Robert Bosch GmbH, Aro Equipments Pvt. Ltd, Istobal S.A., Vehicle Service Group, Symach SRL, VisiCon Automatisierungstechnik GmbH, Snap-on Incorporated, Sarveshwari Technologies Limited (SARV), and Guangzhou Jingjia Auto Equipment Co., Ltd.

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Key Insights from the Report

In 2017, around 720 thousand units of wheel and tire service equipment were sold across the globe. The report estimates that wheel and tire service equipment will be predominantly used for light vehicles in the forthcoming years. On the other hand, the use of wheel and tire service equipment for heavy vehicles will register highest volume CAGR of 5% over the forecast period.
Throughout the forecast period, majority of wheel and tire service equipment are expected to be used in independent garages. By the end of 2026, independent garages from all over the world will have bought around 796 thousand units of wheel and tire service equipment.
In 2018 and beyond, more than half of the wheel and tire service equipment manufactured in the world will be used for wheel alignment. The report projects that wheel alignment systems will be remain a top-selling wheel and tire service equipment in the automotive industry. By 2026-end, the demand for wheel balancers will also gain traction, registering sales of more than 488 thousand units.
Asia-Pacific excluding Japan (APEJ) has been observed as the largest marketplace in the global wheel and tire service equipment landscape. High presence of automakers in APEJ countries such as China, India and South Korea, coupled with favorable industrial regulations and availability of low-wage labor, will continue to drive the growth of wheel and tire service equipment market in the APEJ region through 2026. By the end of forecast period, nearly 650 thousand units of wheel and tire service equipment will be sold across the APEJ region.
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Table of Contents Covered in the report are:

1. Global Economic Outlook

2. Global Wheel and Tire Service Equipment Market - Executive Summary
2.1. Opportunity Assessment 
2.2. Mega Trends

3. Global Wheel and Tire Service Equipment Market Overview
3.1. Introduction
       3.1.1. Global Wheel and Tire Service Equipment Market Taxonomy
       3.1.2. Global Wheel and Tire Service Equipment Market Definition
3.2. Global Wheel and Tire Service Equipment Market Size (US$ Mn), Volume ('000 Units) and Forecast, 2012-2026
       3.2.1. Global Wheel and Tire Service Equipment Market Y-o-Y Growth
3.3. Overall Automotive Repair and Maintenance Industry Analysis
3.4. Garage Equipment Industry Analysis
3.5. Global Wheel and Tire Service Equipment Market Dynamics
       3.5.1 Market Drivers
       3.5.2. Market Restraints
       3.5.3. Market trends
                3.5.3.1. Impact Analysis By Vehicle Type
                3.5.3.2. Impact Analysis By Garage Type
                3.5.3.3. Impact Analysis By Equipment Type
3.6. Supply Chain
3.7.Macro-Economic Factors
3.8. Cost Structure
3.9. Forecast Factors and Impact Analysis
3.10. PESTLE Analysis 
3.11. Porter Analysis
3.12. PLC Analysis
3.13. Global Wheel and Tire Service Equipment Market Scenario forecast
3.13.1. Conservative Scenario
3.13.2. Likely Scenario
3.13.3. Optimistic Scenario
3.14. Service Provider List
3.15. Key Participants Market Presence (Intensity Map) By Region
3.16. Key Players Competition Matrix
3.17. Investment Feasibility Matrix
3.18. Wheel of Fortune

4. Pricing Point Analysis
4.1. Price Point Assessment by Region
4.2. Price Point Assessment by Vehicle Type 
4.3. Price Forecast till 2026
4.4. Factors Influencing Pricing 

5. Global Wheel and Tire Service Equipment Market Analysis and Forecast 2012-2026 
5.1. Global Wheel and Tire Service Equipment Market Size and Forecast By Vehicle Type, 2012-2026
       5.1.1. Two Wheelers Market Size and Forecast, 2012-2026
                5.1.1.1. Revenue (US$ Mn) & Volume ('000 Units) Comparison, By Region
                5.1.1.2. Market Share Comparison, By Region
                5.1.1.3. Y-o-Y growth Comparison, By Region
       5.1.2. Light Vehicles Market Size and Forecast, 2012-2026
                5.1.2.1. Revenue (US$ Mn) & Volume ('000 Units) Comparison, By Region
                5.1.2.2. Market Share Comparison, By Region
                5.1.2.3. Y-o-Y growth Comparison, By Region
       5.1.3. Heavy Vehicles Market Size and Forecast, 2012-2026
                5.1.3.1. Revenue (US$ Mn) & Volume ('000 Units) Comparison, By Region
                5.1.3.2. Market Share Comparison, By Region
                5.1.3.3. Y-o-Y growth Comparison, By Region

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