Automotive Wheel Alignment Services Market Highlights 2022 – 2030
The automotive wheel alignment services market is estimated to garner a hefty amount of revenue by recording a CAGR of ~4% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the rising number of automobile users, increasing technological developments in the automobile sector and growing disposable income of people across the world. It is estimated that more than 68 million automobiles will be sold by 2021. Out of these, 55 million units were of passenger vehicles. In addition, high investment by car manufacturers to improve performance and fuel efficiency in vehicles is also assessed to drive market growth in the future. Furthermore, as a result of stringent government regulations regarding reduction of fuel emissions of automotive, manufacturers are now emphasizing on cutting down their carbon footprint to a large extent. This is a crucial factor expected to offer lucrative opportunities to the market in the upcoming years.
The market is segmented by service provider into OEM, franchise, dealership authorized, and others, out of which, the OEM segment is anticipated to hold the largest share in the automotive wheel alignment services market on account of growth in the number of in-house testing facilities where all the vehicle tests are carried out. Along with this, rising demand for premium quality vehicle service is also projected to boost growth of this market segment during the forecast period. Additionally, on the basis of vehicle type, the segment for passenger vehicles is estimated to gather the largest revenue in the near future, which can be ascribed to the high production of these automobiles globally and increasing demand for luxury vehicles in developing nations. CLICK TO DOWNLOAD SAMPLE REPORT
Global Automotive Wheel Alignment Services Market Regional Synopsis
On the basis of geographical analysis, the automotive wheel alignment services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the North America is estimated to occupy the largest market share over the forecast period on the back of escalating number of commercial vehicles in the region that require regular maintenance. For instance, the sales of commercial vehicles in the United States have only observed a hike since 2009. More than 125 million units of the automobile were sold in 2020. Similarly, Europe is also anticipated to occupy a significant share in the market in the coming years owing to the presence of major automobile manufacturers and wide usage of advanced testing facilities to check wheel alignment of vehicles in the region. Moreover, the market in Asia Pacific is evaluated to witness the highest growth during the forecast period. This can be accounted to rapid urbanization across nations namely, India and China and intensifying fleet size of passenger cars in Japan.
The automotive wheel alignment services market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the automotive wheel alignment services market includes the following segments:
By Vehicle Type
- Passenger
- Commercial
By Product Type
- Imaging Wheel Alignment Machine
- Diagnostic Wheel Alignment Machine
By Service Provider
- OEM
- Franchise
- Dealership Authorized
- Others
Growth Drivers
- Increasing Use of Automobiles Worldwide
- Growing Technological Advancements in the Automotive Sector
Challenges
- Human Errors and Lack of Skilled Labor
Top Featured Companies Dominating the Market
- BMW AG
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- 3M Company
- Bridgestone Corporation
- Continental AG
- Ford Motor Company
- General Motors
- Robert Bosch GmbH
- TBC Corporation
- Toyota Motor Corporation
- Volkswagen AG
