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Automotive Wheel Balancing Weight Market Size, Trends & Forecasts | Valuates Reports
Automotive Wheel Balancing Weight Market SizeIn 2024, the global market size of Automotive Wheel Balancing Weight was estimated to be worth US$ 715 million and is forecast to reach approximately US$ 1047 million by 2031 with a CAGR of 5.7% during the forecast period 2025-2031.
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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 automotive wheel balancing weight market plays a crucial role in ensuring the safe and efficient functioning of vehicles. These weights are essential in correcting the imbalance in wheels, which occurs due to the uneven distribution of weight across the tire. Without proper balancing, vehicles can experience vibrations, uneven tire wear, and poor handling, leading to safety concerns and reduced vehicle performance. The growing automotive industry, along with increasing demand for safety features and vehicle performance optimization, is driving the market for wheel balancing weights. This market encompasses various types of materials, including lead, steel, and zinc, with increasing environmental regulations pushing manufacturers towards more eco-friendly materials like zinc and steel. Furthermore, the rise of electric vehicles (EVs) is influencing market trends, as EVs require more specialized balancing due to their unique designs and performance requirements. In terms of geographical trends, regions such as North America, Europe, and Asia-Pacific are key markets, with Asia-Pacific leading due to its large automotive manufacturing base.
By Type
• Clip-On Type
• Adhesive Type
By Application
• Passenger Vehicle
• Commercial Vehicle
Key Companies
WEGMANN, Baolong Automotive, TOHO KOGYO, Cascade Wheel Weights, 3M, Shengshi Weiye, Trax JH Ltd, Hebei HOLMAN Auto Parts, Hebei LongRun Automotive, HEBEI XST, Alpha Autoparts, Bharat Balancing Weightss, Yaqiya, Hatco, HEBEI FANYA, Cangzhou Sheen Auto Parts
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