Tire Changers Market Size, Share, Growth, and Industry Growth by Type (Under 15 inch, 15-24 inch, Above 24 inch) By Application (Car Tire Changer, Truck Tire Changer, and Others), Regional Insights, and Forecast to 2031

Updated On: 13 November 2023

TIRE CHANGERS MARKET REPORT OVERVIEW

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The global tire changers market size was USD 490.3 million in 2022 and is projected to touch USD 722.4 million by 2031, exhibiting a CAGR of 4.4%.

The global COVID-19 pandemic has been unprecedented and staggering, with of tire changers market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Tire changing machines, often known as tire changers, are one kind of wheel care equipment used to mount or remove tires from vehicle wheels. Additionally, equipment specifically designed for mounting tires to wheels and removing tires from wheels is available for tire changing. Additionally, tire-changing equipment has a variety of features and advancements. One of them, a fully automatic tire-changing device, is designed to safely and effectively change any type of tire and wheel combination. Automatic laser wheel profiling, integrated wheel lifts, hydraulic or electric centre clamps, drive systems, computerised install or demount procedures, and top-side bead inflation are some of the features.

The high degree of fragmentation and the dominance of the aftermarket are the key features of the global tire changing machine market that have been identified. In terms of overall sales, the aftermarket or replacement segment rules the global market for tire changing equipment. Additionally, whereas the aftermarket industry is impacted by usage patterns and replacement cycles, OEM consumption of tire-changing equipment is purely based on the trend in new car sales. The goal of the study is to evaluate the most recent dynamics and trends for the global and regional growth of the tire changing market.

COVID-19 Impact: Pandemic-related Disruptions Impacted Market Dynamics

The COVID-19 has a significant impact on the world economy. This pandemic has a significant impact on several economic sectors. The loss of trillions of dollars will create a collapse in the global economy. The global economy is directly impacted by the expanding lockdown and its implementation in numerous nations. The paper includes a chapter that offers a thorough analysis of COVID-19's effects on the market for automatic tire changers. Practitioners in business and industry will find this research useful. The study's specific goal was to help explain, guide, and comprehend the market potential for automatic tire changers. The study's main goal is to give readers a better understanding of market trends.

LATEST TRENDS

"Rising Number of On-road Vehicles to Boost Tire Changing Equipment Demand "

The increasing number of vehicle types needs a broader selection of tire alternatives. Furthermore, rising automotive trends such as autonomous driving and e-mobility are expected to increase demand for revolutionary tire design and production technologies. Suppliers have been asked to maintain the highest standards of quality and dependability for the materials they give to tire manufacturers while new concepts and designs have been introduced.

Tire manufacturing companies are growing at an exponential rate due to rising demand for commercial and passenger vehicles. Increased demand for two- and four-wheeled vehicles can be due to higher disposable income and better road connectivity. The worldwide tire changers market share is concentrating on increasing degrees of automation. Manufacturers are also looking for equipment with faster changeovers in order to enhance output. Furthermore, as new tire technologies arise in response to increased customer demand for high-performance tires and off-road tires, tire manufacturers are being driven to upgrade their tire production techniques.

Environmental laws governing tire design, production, raw material modifications, tire restrictions, and other variables are putting significant burden on tire manufacturing activities such as curing, tire fabrication, and raw material mixing. As a result, the whole tire manufacturing process has advanced, including the use of automation in all stages. As a result of this reason, the tire machinery industry has grown.

TIRE CHANGERS MARKET SEGMENTATION

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• By Type

Depending on genset battery given are types: Under 15 inch, 15-24 inch and above 24 inch. The 15-24 inch and above 24 inch type will capture the maximum market share through 2031.

• By Application

The market is divided in car tire changer, truck tire changer and others based on application. The global genset battery market players in cover segment like, commercial and industrial will dominate the market share during 2031.

DRIVING FACTORS

"Increasing Vehicle Ownership Among Middle Class Community In Developing Countries Stimulating Demand For Market Size"

The growing middle class in emerging nations will drive up demand for tire changers, since these areas are expected to have more automobile ownership. As a result, tire replacement and wheel repair activities have picked up, propelling the tire changers industry forward.

Furthermore, the growth of semi-automatic and automatic tire changers in nations such as India, China, and ASEAN would impede sales of manual or mechanically driven tire changers.

Tire changer sales, on the other hand, are expected to continue to grow rapidly. In a word, a positive outlook for the vehicle industry in emerging countries is anticipated to have an influence on the tire changers market size.

"Rising Car Production Will Drive Market Expansion"

Increased customer demand for pleasant travel, along with the introduction of new autos, has resulted in a significant growth in automotive vehicle sales, both commercial vehicles and passenger vehicles. According to the India Brand Equity Foundation, India will sell 0.56 million commercial vehicles, 15.11 million two-wheelers, and 2.71 million passenger automobiles in 2021. Furthermore, the rapidly growing automotive resale market, as well as increased tire replacement and retraction operations in older vehicles, are driving market growth. Furthermore, growing disposable income in emerging countries, expanding buying power, and increased tourism have led to an increase in car sales. As a result, key manufacturers are focusing heavily on automobile production, which is boosting the global tire changers market growth.

RESTRAINING FACTORS

"Raw Material Price Fluctuations Impede Market Growth"

The price volatility of the raw materials used to make tires is the main issue limiting the market's expansion. The escalating rivalry, high operational and energy costs, and market resistance to globalisation are some other reasons that might limit market expansion.

TIRE CHANGERS MARKET REGIONAL INSIGHTS

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"Asia Pacific to Hold Dominant Share through 2031 "

Additionally, there has been an increasing need for tire changing equipment throughout Southeast Asia and the Pacific, particularly in ASEAN, due to the expansion of the region's vehicle fleet. As a result, tire replacement equipment that is both economical and efficient has received a lot of attention throughout Southeast Asia. The medium-term picture for the Indian automobile industry is projected to be improved by a growing demand for cleaner air and more fuel-efficient cars. The regional GDP is significantly impacted by the heavily invested tire sector. Hence, the local market's increased demand for tire-changing equipment. Moving forward, it is projected that the market for tire changing machines in Japan will expand slowly during the ensuing years.

KEY INDUSTRY PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and launch of new, technologically advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.

List of Market Players Profiled

• Bosch
• Twinbusch
• Hofmann
• SNAP-ON
• Hunter
• Bendpark
• Johnbean
• Hennessy Industries
• Ravaglioli
• SICE
• Corghi
• Giuliano
• Fasep
• SICAM
• Mondolfo Ferro (Nexion)
• DALI
• Worldbright
• BEST
• Coseng
• Xuanbao
• UNITE
• Taida
• GRONH
• Trainsway
• BSDJX
• Sifang

REPORT COVERAGE

This study examines a report with broad studies that describe the businesses in the market that have an impact on the forecasting period. By considering aspects including segmentation prospects, industrial advances, trends, growth size share, restrictions, and others, it provides a thorough analysis based on in-depth research. If the relevant market dynamics or important players change, this study may need to be modified.