Tire Balance Market to Record 5.1% CAGR Growth Through 2029 | Global Analysis Report

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Tire Balance Market Outlook: How is the Market Expected to Grow by 2025?
In recent times, the tire balance market has experienced a stable expansion. The market, valued at $1.47 billion in 2024, is projected to reach $1.53 billion in 2025, growing at a compound annual growth rate (CAGR) of 3.7%. The historical growth is linked to factors such as increasing car ownership, augmentation of the automotive aftermarket, strict vehicle safety regulations, customer preference for smoother rides, and the broadening of supply chains due to globalization.

Tire Balance Market Forecast: What Size Will It Reach By 2029?
Anticipations of robust progress are on the horizon for the tire balance market in the near future. The market is predicted to augment to a valuation of $1.87 billion by 2029, with a compound annual growth rate (CAGR) of 5.1%. The acceleration over the foresight period can be accredited to an emphasis on fuel efficiency, the emerging adoption of telematics, governmental interventions advocating road safety, predictive maintenance resolutions, and bespoke features for high-performance vehicles. Dominant trends projected for this period comprise progressive balancing technologies, collaborations with tire pressure monitoring systems, the adoption of intelligent production and Industry 4.0 integration, the application of Artificial Intelligence (AI) for dynamic balancing, as well as the facilitation of remote diagnostics and monitoring services.

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Which Key Market Drivers Will Shape Tire Balance Industry Trends in 2025-2029?
The surge in vehicle manufacturing is strongly predicted to boost the expansion of the tire balance market in the future. A vehicle, primarily driven by an engine, is a transport apparatus utilized for moving people or goods from one location to another. Tire balancing, a vital maintenance task for vehicles, guarantees uniform weight dispersion around a tire and wheel assembly, averting vehicle tremors and wobbling when moving at different velocities. To exemplify, according to the Federal Reserve System, a US government agency, the production of motor vehicles in the United States hit 11.29 million units in the second quarter of 2023, an increase from the first quarter's 10.25 million units. Consequently, the rise in vehicle manufacturing will steer the progress of the tire balance market.

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What Are the High-Growth Segments in the Tire Balance Market?
The tire balance market covered in this report is segmented -

1) By Type: Clip-On Type, Adhesive Type
2) By Balancing Method: Static Balancing, Dynamic Balancing
3) By Application: Passenger Vehicle, Commercial Vehicle, Motorcycle
4) By End-User: Automotive Service Providers, Fleet Operators, Individuals

Subsegments:
1) By Clip-On Type: Standard Clip-On Weights, Custom Clip-On Weights
2) By Adhesive Type: Stick-On Weights, Pre-Cut Adhesive Weights

Which Global Trends Are Driving Tire Balance Market Expansion?
Key players in the tire balance market are increasingly focusing on creating digital and automated balancing solutions like 2-hit wheel balancers in an effort to improve efficiency, minimise downtime and broaden their customer reach across multiple market segments. The 2-hit wheel balancer is engineered to balance vehicle wheels by identifying and rectifying weight imbalances, providing a more steady and safer driving experience. For example, in November 2022, CEMB USA, a firm based in the US that supplies wheel service tools and tire machines, unveiled a novel 2-hit wheel balancer designed to ease wheel balancing, particularly for novice mechanics. The new machine conducts a two-hit procedure to verify wheel measurements on the tire before transmitting the data to the actual balancer. Its distinctive features include laser matching, open plane balancing (OPB), LA sonar, and ALU-S balancing mode. What's more, the 2-hit model uses a line laser and a laser spotter to illustrate the correct placement of the wheel for balanced vehicle operation.

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Who Are the Fastest-Growing Companies in the Tire Balance Industry?
Major companies operating in the tire balance market report are 3M Company, Snap-on Incorporated, John Bean Technologies Corp., Shanghai Baolong Automotive Corp., Hunter Engineering Company, WEGMANN automotive GmbH., Micro-Poise Measurement Systems LLC (AMETEK), Perfect Equipment Inc., Hebei Xinshitong Accessory Co. Ltd., Hennessy Industries Inc., Beissbarth GmbH, Plombco Inc., Alpha Autoparts, Ravaglioli S.p.A, Hatco (HARTEC s.a.l), TECO Automotive Equipment, Bharat Balancing Weightss Pvt. Ltd., Rotary Lift, J.M. Maquinas Equipamentos, CEMB-USA, Sice Srl, Corghi USA Inc., Hofmann Maschinen- und Anlagenbau GmbH, Werther International SpA, Aliner automotive Equipments Pvt. Ltd., Cangzhou Shengshiweiye Automobile Accessory Co. Ltd., Shanghai Balance Automotive Equipment Co. Ltd., Trax JH Ltd., Wurth USA Inc.

What Is the Regional Outlook for the Tire Balance Market by 2029?
North America was the largest region in the tire balance market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the tire balance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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