Global Wheel Weight Market Growth 2023-2029

Global Wheel Weight Market Growth 2023-2029

Wheel 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.

Tires are balanced in factories and repair shops by two methods: static balancers and dynamic balancers. Static imbalance is caused by a difference of weight over the whole plane of the wheel. Dynamic imbalance means a difference of weight outside the plane of the wheel. In order to reach a perfect balance, both imbalances must be corrected.

Tires with high unbalance forces are downgraded or rejected. When tires are fitted to wheels at the point of sale, they are measured again on a balancing machine, and correction weights are applied to counteract the combined effect of the tire and wheel unbalance. After sale, tires may be rebalanced if driver perceives excessive vibration.

LPI (LP Information)' newest research report, the “Wheel Weight Industry Forecast” looks at past sales and reviews total world Wheel Weight sales in 2022, providing a comprehensive analysis by region and market sector of projected Wheel Weight sales for 2023 through 2029. With Wheel Weight sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Wheel Weight industry.

This Insight Report provides a comprehensive analysis of the global Wheel Weight landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Wheel Weight portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Wheel Weight market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Wheel Weight and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Wheel Weight.

The global Wheel Weight market size is projected to grow from US$ 662.6 million in 2022 to US$ 732.9 million in 2029; it is expected to grow at a CAGR of 732.9 from 2023 to 2029.

Market competition is not intense. WEGMANN, Plombco, TOHO KOGYO, Hennessy and Shengshi Weiye, etc. are the leaders of the industry, with about 42% market shares. Asia Pacific is the largest consumption place, with a consumption market share nearly 50%. Following Asia Pacific, Europe is the second largest consumption place with the consumption market share of 22%.

This report presents a comprehensive overview, market shares, and growth opportunities of Wheel Weight market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

Clip-On Type

Adhesive Type

Segmentation by application

Passenger Vehicle

Commercial Vehicle

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

WEGMANN

Plombco

TOHO KOGYO

Hennessy

Shengshi Weiye

3M

Trax JH Ltd

Baolong

Jiangyin Yinxinde

HEBEI XST

Yaqiya

Wurth USA

Alpha Autoparts

Holman

Hatco

Bharat Balancing Weightss

HEBEI FANYA

Key Questions Addressed in this Report

What is the 10-year outlook for the global Wheel Weight market?

What factors are driving Wheel Weight market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Wheel Weight market opportunities vary by end market size?

How does Wheel Weight break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.