Wheel Balancing Weights Market by Top Key Players, Size, Drivers & Market Dynamics, Forecast to 2029

Wheel Balancing Weights Market 2022

The report on wheel balancing weights summarizes macroeconomic factors that could assist and influence the growth of the wheel balancing weights market and forecast factors. Moreover, the report titled- wheel balancing weights market, as per the assessment, it was estimated at ~US$ 420 Mn in 2018 and is anticipated to reach a value of ~US$ 750 Mn by the end of 2029, influenced by the cyclic trend of the automotive industry and new product launches. The wheel balancing weights market is expected to grow at a moderate CAGR of ~6% during the assessment period.

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Wheel balancing weights are used to improve the stability and handling of a vehicle by counterbalancing the unbalanced forces on the wheel. Wheel balancing weights are usually made of lead, steel, or zinc. They are attached to the wheel rim in order to bring it back into balance. Wheel balancing weights come in a variety of shapes and sizes, including donuts, half-donuts, squares, and oblongs. Wheel balancing weights can be made from different materials, including lead, steel, and zinc. They come in a variety of shapes and sizes, including donuts, half-donuts squares , and oblongs . Wheel balancing weights serve two main purposes: improving stability and handling; and counterbalancing the unbalanced forces on the wheel.

A new market study on the wheel balancing weights market, conducted by Persistence Market Research (PMR), includes a global industry overview from 2014 to 2018 and a prediction from 2019 to 2029. A tyre and wheel assembly is balanced using wheel balancing weights, also known as wheel weights or balance weights, according to the product description. A wobbly and unbalanced wheel can reduce the ride's comfort and reduce the lifespan of the tyres, suspension, and bearings. Wheel balancing weights are a crucial component that provide advantages like improved tyre performance, fuel savings, and increased comfort and safety.

Key Companies-

• WEGMANN automotive GmbH ( HOFMANN POWER WEIGHT, Perfect Equipment Inc., Plombco)
• 3M Automotive
• Hennessy Industries, LLC (BADA)
• Wurth USA, Inc
• HARTEC s.a.l (Hatco brand)
• Cangzhou Yaqiya Auto Parts Manufacturer Co., Ltd.
• BeiJiaDe Auto Accessory Co.,Ltd.
• BendPak Inc.
• Banner GmbH and more

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Increasing Use of Responsive Tires Complementing Wheel Balancing Weight Sales

Vehicles are being made lightweight to enhance the performance parameter. Heavier automobile actually helps in providing a smooth ride by dampening vibrations before the driver could sense them. Another factor is the tire and wheel technology, where more responsive tires are being used with lower profiles. As a result, the slightest imbalance can be felt in most vehicles, proliferating the demand for wheel balancing weights.

Lower environmental impacts and human health coupled with the propensity for steel wheel balancing weights to be made from recycled material appears to position steel wheel balancing weights as the best overall alternative in the upcoming years. Moreover, the growing prominence of alloy wheels around the world is propelling the demand for wheel balancing weights than steel wheels. Several Japan-based and Europe-based OEMs are switching to zinc- and steel-based wheel balancing weights. However, the prevalence of lead-based wheel balancing weights are still high in the aftermarket segment, dampening the sales of alternative wheel balancing weights.

Region Coverage (Regional Production, Demand & Forecast by Countries etc.):

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

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Key Stakeholders 

Wheel Balancing Weights Market Manufacturers 
Wheel Balancing Weights Market Distributors/Traders/Wholesalers 
Wheel Balancing Weights Market Subcomponent Manufacturers 
Industry Association 
Downstream Vendors

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