- The increase in purchasing power and advancements in wheel alignment technologies may serve as prominent growth generators for the automotive wheel alignment service market across the forecast period of 2020-2030
- The booming automobile sector in countries like Germany, India, Japan, and China may enable Asia Pacific and Europe to be significant regional growth contributors during 2020-2030
ALBANY, N.Y., Aug. 6, 2020 /PRNewswire/ -- The automotive wheel alignment service market may have a profitable run across the forecast period of 2020-2030 on the back of the entry of modern wheel alignment services and the efficiency offered by them. The rise in the adoption of computerized wheel aligners and the growing network of wheel alignment centers across the globe may serve as great growth generators for the automotive wheel alignment service market throughout the forecast period of 2020-2030.
All these factors together have led the analysts at Transparency Market Research (TMR) to project the global automotive wheel alignment service market to expand at a CAGR of ~4% during the forecast period of 2020-2030. The global automotive wheel alignment service market is forecasted to attain a valuation of US$ 2.5 bn by 2030 end.
The benefits etched with wheel alignment such as longer tire life, reduction in damage to other parts, increased fuel efficiency, and assurance of increased safety may bring immense growth prospects for the automotive wheel alignment service market.
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Automotive Wheel Alignment Service Market: From Analysts' Lens
The analysts at Transparency Market Research attribute the escalating influence of the automobile sector in developing regions around the world for exponential growth. The analysts also highlight the growing focus toward enhancing the comfort and safety of the driver as the main factors for increasing the growth rate of the automotive wheel alignment service market between 2020 and 2030.
The analysts further advise the market players to invest in novel technologies and product innovation as well as comply with a regulatory framework to cement their foothold in the automotive wheel alignment service market.
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Automotive Wheel Alignment Service Market: Key Findings
- The passenger vehicle segment is anticipated to hold a prominent share across the forecast period of 2020-2030
- On the basis of the service provider, the OEM segment is extrapolated to dominate the automotive wheel alignment service market due to the increase in the in-house testing facility
- Asia Pacific may serve as a profitable region for the automotive wheel alignment service market during the forecast period of 2020-2030
- Europe may garner considerable growth between 2020 and 2030
Explore 163 pages of expansive research, cutting-edge insights, and detailed projections. Analyze and discover the latest developments in the Automotive Wheel Alignment Service Market (Vehicle: Passenger Vehicle [Hatchback, Sedan, and SUV/MUV] and Commercial Vehicle [Light Commercial Vehicle and Heavy Commercial Vehicle]; and Service Provider: OEM [Dealership Authorized and Tire Manufacturers], Franchisee, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030 at https://www.transparencymarketresearch.com/automotive-wheel-alignment-service-market.html
Automotive Wheel Alignment Service Market: Growth Prospects
The automotive wheel alignment service market may garner greatly on the back of technological developments and innovations. Rapid urbanization and the flourishing construction industry have led to the demand for heavy-duty construction vehicles and these factors may serve as robust growth pillars for the automotive wheel alignment service market
- Adoption of portable and wireless wheel alignment machines may bring good growth for the automotive wheel alignment service market
- The logistics sector has seen an increase in demand due to the ballooning eCommerce sector worldwide and has resulted in the growing need for cargo vehicles, thus expanding the growth prospects of the automotive wheel alignment service market
- The escalating sales of used vehicles are sowing the seeds of growth across the automotive wheel alignment service market
Analyze global automotive wheel alignment service market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
AutomotiveWheel Alignment Service Market: Growth Restraints
The automotive wheel alignment service market is going through the challenging times of the COVID-19 pandemic and has been affected negatively. Many manufacturing units and production facilities were shut down due to the stay-at-home orders implied by numerous countries to contain the transmission of the deadly novel coronavirus.
Furthermore, the absence of skilled labor and frequent human errors may lead to flawed wheel alignment and can cause a vehicle to function improperly, thus dampening the growth prospects of the automotive wheel alignment service market.
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Automotive Wheel Alignment Service Market: Segmentation
By Vehicle
- Passenger Vehicle
- Hatchback
- Sedan
- SUV/MUV
- Commercial Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
By Service Provider
- OEM
- Dealership
- Authorized Tire Manufacturers Franchisee
- Others
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- Middle East & Africa
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