Press release
Automotive Wheel Balancing Weight Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports
The global Automotive Wheel Balancing Weight market was valued at US$ 585 million in 2022 and is anticipated to reach US$ 926 million by 2029, witnessing a CAGR of 6.7% during the forecast period 2023-2029.
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Automotive Wheel Balancing Weight Market
Automotive Wheel Balancing Weight also referred to as tire balance, describes the distribution of mass within an automobile tire or the entire wheel (including the rim) to which it is attached.
When the wheel rotates, asymmetries of mass may cause it to hop or wobble, which can cause ride disturbances, usually vertical and lateral vibrations. It can also result in a wobbling of the steering wheel or of the entire vehicle. Vehicle suspensions can become excited by unbalance forces when the speed of the wheel reaches a point that its rotating frequency equals the suspension's resonant frequency.
The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
In the global companies that produce the automotive wheel balancing weight, the WEGMANN had the maximum market share with about 32% in 2019.
Between the two types of automotive wheel balancing weight, the adhesive type held more market share with around 54% in 2019.
Report Scope
This report aims to provide a comprehensive presentation of the global market for Automotive Wheel Balancing Weight, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Automotive Wheel Balancing Weight.
The Automotive Wheel Balancing Weight market size, estimations, and forecasts are provided in terms of output/shipments (M Units) and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Automotive Wheel Balancing Weight market comprehensively. Regional market sizes, concerning products by type, by application and by players, are also provided.
For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
The report will help the Automotive Wheel Balancing Weight manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by type, by application, and by regions.
By Type
• Clip-On Type
• Adhesive Type
By Application
•
Passenger Vehicle
• Commercial Vehicle
Key Players
WEGMANN, TOHO KOGYO, Hennessy, Baolong, Shengshi Weiye, 3M, Trax JH Ltd, Yaqiya, HEBEI XST, Hatco, Wurth USA, Alpha Autoparts, Holman, Bharat Balancing Weightss, HEBEI FANYA
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