Market Research Future (MRFR) has published on the “Global Tire Changing Machines Market”.
The Tire Changing Machines market is estimated to register a CAGR of 4.60% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Tire Changing Machines market— Hunter Engineering Company, Coats Tire Equipment, Snap-On Incorporated, Bosch Automotive Service Solutions, Beissbarth GmbH, Hennessey Industries, NEXION SpA, Coburg Equipment Private Limited, RAVAmerica, Hoffmann Megaplan.
Tire Changing Machines Highlights
The global Tire Changing Machines market is accounted to register a CAGR of 4.60% during the forecast period and is estimated to reach USD 0.771 billion by 2032.
The tire changing machines market is experiencing notable growth driven by the continuous expansion of the global automotive industry. As vehicle ownership rates rise, the demand for efficient and technologically advanced tire changing equipment is on the upswing. Market trends highlight a shift towards automation and innovative features in tire changing machines, reflecting a focus on enhancing speed, precision, and user-friendly operation. Additionally, the aftermarket sector's increasing significance contributes to the market's dynamics, with tire service centers and automotive repair facilities investing in advanced machines to meet evolving customer needs.
Segment Analysis
The global Tire Changing Machines market has been segmented based on machine type, vehicle type and end user.
On the basis of machine type, the market is segmented into Manual, Semi-Automatic and Fully Automatic. The manual segment was attributed to holding the largest market share in 2022, due to their simplicity, cost-effectiveness, and versatility in handling a wide range of tire sizes.
Based on vehicle type, the global Tire Changing Machines market has been segmented into Passenger Cars, Light Commercial Vehicles, Heavy-Duty Vehicles and Motorcycles. The passenger cars segment was expected to hold the largest market share in 2022, due to their sheer volume and widespread use.
Based on end user, the global Tire Changing Machines market has been segmented into Automotive Service Centers, Vehicle Dealerships, Commercial Fleets and Repair Shops. The automotive service centers segment was expected to hold the largest market share in 2022, due to their sheer volume of tire-related services and maintenance tasks.
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Regional Analysis
The global Tire Changing Machines market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Tire Changing Machines market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Tire Changing Machines market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Tire Changing Machines market comprises of Middle East, Africa, and Latin America.
The largest market share for Tire Changing Machines was maintained by the North American regional sector. This increase is attributed to the region's robust automotive industry, characterized by high vehicle ownership rates and a consistent demand for tire-related services. The need for efficient and advanced tire changing machines is further accentuated by the emphasis on quick turnaround times in automotive service centers and repair facilities. Technological innovations and a focus on enhancing productivity contribute to the growth of the market, with North America serving as a key hub for the development and adoption of cutting-edge tire changing equipment.
Moreover, the Europe market has been persistently growing over the forecast period. The demand for Tire Changing Machines is driven by stringent safety standards and regulations, compelling automotive service centers and tire shops to invest in modern and compliant equipment. Additionally, the region's emphasis on technological innovation and the adoption of advanced automotive solutions contribute to the growth of the tire changing machines market.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period due to the region's rapid industrialization, expanding automotive sector, and the increasing adoption of advanced technologies in vehicle maintenance, creating a demand for efficient and automated tire-changing solutions. Additionally, the growing awareness of the importance of regular tire maintenance and the rise in vehicle ownership further contribute to the market's growth in the region.
Furthermore, the rest of the world's Tire Changing Machines market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's growing automotive industry, spurred by increased urbanization, infrastructure development, and rising consumer purchasing power. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.
Key Findings of the Study
- The global Tire Changing Machines market is expected to reach USD 0.771 billion by 2032, at a CAGR of 4.60% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to the rapid growth of the automotive industry in the region, resulting in increased demand for efficient and technologically advanced equipment.
- Based on machine type, the manual segment was attributed to holding the largest market in 2022, with an approximate market share of 60–80%.
- Hunter Engineering Company, Coats Tire Equipment, Snap-On Incorporated, Bosch Automotive Service Solutions, Beissbarth GmbH, Hennessey Industries, NEXION SpA, Coburg Equipment Private Limited, RAVAmerica, Hoffmann Megaplan.
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Companies Covered | 15 |
Pages | 128 |
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