The global automotive wheel alignment services market is expected to approach US$ 2.3 billion by 2030, with an annual growth rate of more than 3.8%
Wilmington, Delaware, Oct. 27, 2023 (GLOBE NEWSWIRE) —
Global Automotive Wheel Alignment Services Market value is estimated at US$ 1.8 billion in 2023 and is expected to grow at a significant CAGR of over 3.8% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
The global automotive wheel alignment services market is expected to grow at a significant pace. The number of vehicles on the road is increasing globally. This is driving the demand for automotive wheel alignment services, as vehicles need to be regularly aligned to maintain optimal performance and safety.
Vehicle suspension systems are becoming increasingly complex. This makes it more difficult for vehicle owners to perform wheel alignment themselves and therefore increases the demand for professional wheel alignment services. Moreover, consumers are becoming more aware of the importance of wheel alignment for vehicle performance, safety, and fuel efficiency. This is driving the demand for wheel alignment services.
- According to a deep-dive market assessment by RationalStat, the global automotive wheel alignment services market has been analyzed on the basis of market segments, including type, crop type, application, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global automotive wheel alignment services market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global automotive wheel alignment services market. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Automotive Wheel Alignment Services Market: Segmental and Market Share Analysis
- On the basis of type, the passenger car segment is dominating the global automotive wheel alignment services market. Some of the reasons for the dominance of the segment include, first, there are more passenger cars on the road than commercial vehicles. Second, passenger car owners are more likely to have their vehicles regularly serviced, including wheel alignment. Third, passenger car owners are more likely to be aware of the importance of wheel alignment and the benefits it offers.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 1.8 billion |
| Market Size Forecast | US$ 2.3 billion |
| Growth Rate | 3.80% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global automotive wheel alignment services market include,
- In August 2023, Straightset announced its partnership with Beissbarth, the globally acclaimed brand of Wheel Alignment Systems. This collaboration signifies a monumental step forward in the automotive industry, with Straightset further solidifying its reputation for delivering top-tier garage equipment and unparalleled aftercare.
- In July 2021, JK Tyre and Industries Ltd, one of the largest tyre manufacturers in India, announced a partnership with Ki Mobility Solutions Private Ltd (KMS) to enhance its reach in the aftermarket segment.
- The value-added sharing of services through this alignment will enhance product value through processes like total wheel alignment, automatic tyre changing, nitrogen inflation, radial tyre repairs, etc., resulting in better customer service, JK Tyre said in a statement.
Some of the prominent players and suppliers operating and contributing significantly to the global automotive wheel alignment services market growth include BMW AG, 3M Company, Bridgestone Corporation, Continental AG, Ford Motor Company, General Motors, Robert Bosch GmbH, TBC Corporation, Toyota Motor Corporation, and Volkswagen AG, among others.
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RationalStat has segmented the global automotive wheel alignment services market based on vehicle type, and region.
- Global Automotive Wheel Alignment Services Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Vehicle Type
- Passenger
- Commercial
- Global Automotive Wheel Alignment Services Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Automotive Wheel Alignment Services Market
- US
- Canada
- Latin America Automotive Wheel Alignment Services Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Automotive Wheel Alignment Services Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Automotive Wheel Alignment Services Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Automotive Wheel Alignment Services Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Automotive Wheel Alignment Services Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Automotive Wheel Alignment Services Market
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Key Questions Answered in the Automotive Wheel Alignment Services Report:
- What will be the market value of the global automotive wheel alignment services market by 2030?
- What is the market size of the global automotive wheel alignment services market?
- What are the market drivers of the global automotive wheel alignment services market?
- What are the key trends in the global automotive wheel alignment services market?
- Which is the leading region in the global automotive wheel alignment services market?
- What are the major companies operating in the global automotive wheel alignment services market?
- What are the market shares by key segments in the global automotive wheel alignment services market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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