Global Wheel Aligner Equipment Market 2019-2023
About Wheel Aligner Equipment
Wheel aligner equipment is the equipment used to align the wheels of vehicles during assembly, repair, and maintenance.
Technavio’s analysts forecast the global wheel aligner equipment market generate a revenue of more than USD 3 billion during the period 2019-2023.
Covered in this report
The report covers the present scenario and the growth prospects of the global wheel aligner equipment market for 2019-2023. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Wheel Aligner Equipment Market 2019-2023
Technavio recognizes the following companies as the key players in the global wheel aligner equipment market: ACTIA Group, Corghi, Hunter Engineering, Manatec Electronics, and Snap-on.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increase in tire damage for automobiles. Tire damage is one of the major issues faced by vehicle owners. Improper alignment of the wheels is one of the major causes of tire damage. The poor conditions of the roads, especially in developing and underdeveloped countries such as Congo. Paraguay, Ukraine, Nigeria. and India, can lead to tire wear out, which can increase the number of road accidents.”
According to the report, one driver in the market is increasing number of automobiles. The high disposable income of people globally is leading to improved sales of automobiles on a yearly basis. The growth of the global wheel aligner equipment market is closely related to the number of automobiles getting sold as these vehicles will be in need of wheel alignment frequently. The passenger vehicle segment contributes significantly to the global automobile market.
Further, the report states that one challenge in the market is high cost of operating wheel aligner equipment. The wheel alignment is one of the major maintenance jobs that directly affect the tire quality and the lifespan of tires. The costs associated with the manufacturing of wheel aligner equipment has increased due to the rising use and incorporation of various technologies in wheel alignment such as advanced imaging technologies.