Tire Changing Machines Market Size, Share, and Industry Analysis, By Type (Automatic Tire Changing Machine, Semi-Automatic Tire Changing Machine, Manual Tire Changing Machines), By Application (OEM, Auto Repair Shop, Other) Regional Forecast To 2028

Updated On: 22 May 2023

REPORT OVERVIEW

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The global tire changing machines market size was USD 490.3 million in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with tire changing machines experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 631.6 million by 2028, exhibiting a CAGR of 4.3% during the projected period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

A tire changing machines is a machine tool that is used to grind, typically with an abrasive wheel. The equipment is employed to finish a diverse range of pieces ranging from household goods to aviation parts and components. As a result, grinding machines are useful for a wide range of implementations. The machines are typically utilized to provide accurate shape and completing to semi-finished products/materials with low surface coarseness and high surface quality. This is traditionally used mostly for smoothing relatively small amounts of metal in order to produce highly accurate products. The machines had also found immense absorption across a variety of industries globally due to stringent requirements for precise completing across various applications. Tire changing machines, furthermore identified as tire changers, are pieces of wheel service equipment that are used to mount and dismount tires from vehicle wheels. Furthermore, tire changing machines are deliberately developed for installing and removing tires from rims. Furthermore, the machines are equipped with a variety of features and technologies.

COVID-19 Impact: Supply and Lockdown Limitations to Impede Market Advancement

Coronavirus has had a negative impact on the growth of many businesses, including the industries of automobile manufacturing. Regional governments around the world levied shutdown, causing business owners to see a reduction in the demand for the automobiles in the second and third quarters of 2020.

With the decrease in demand, manufacturers or industrialists have pursued out ways to reach the consumer sector and government concessions in order to increase their product sales in the third and fourth quarters of 2020. The reopening of initiatives and automobile manufacturing sites has cleared the way for the machines manufacturers in the market, and growing demand is anticipated to reach at greater levels during the estimated timeframe. Therefore, making the machines to reach at greater heights.

LATEST TRENDS 

"Rising Middle Class in Emerging Regions to Stimulate Market Development "

The rising middle class in emerging regions will drive up demand for tyre changers, as these areas are expected to have more vehicle ownership. As a result, tire substitute and wheel fixing operations have picked up, propelling the tire changers market forward.

Furthermore, the prevalence of semi-automatic and fully automated tyre changers in markets like India, and China will impede selling of manual and mechanical tire changers.

The tire changing machines market growth is expected to grow at a rapid rate throughout the forecast period because of the improvements in the machinery.

SEGMENTATION 

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• By Type

Based on type; the market is divided into automatic tire changing machine, semi-automatic tire changing machine, manual tire changing machines

Automatic tire changing machine type is the leading part of the type segment.

• By Application

Based on the application; the market is divided into OEM, auto repair shop, other

OEM is the leading part of the application segment.

DRIVING FACTORS

"Growing Involvement in DIY to Aid Market Expansion "

Tire changing machines demand has increased significantly over the years, due to a growing involvement in DIY (do-it-yourself) options available. The availability of low-cost tyre changers on the industry has eliminated the requirement to visit a service centre to replace tyres.

Individuals in the transport industry, as well as car enthusiasts, are showing a rise in popularity of purchasing tyre changers for personal use, which has increased tyre changer sales. From here on out, it is safe to forecast that the global tire changing machines market will reach greater levels in the coming years. The growing number of motor vehicles facilities and services has indeed led to a steady increase in global demand for tire changers. Furthermore, car manufacturers have been publicizing specific tire changer brands, which has boosted tire changing machines market growth prospects even further.

"Increasing Customer Demand Due to Tire Harm to Foster Industry Progress "

Poor roadworks had already resulted in a consistent flow of flat tyres and tyre punctures in most countries. Uncertainty about tyre damage can cause operational delays and a boost in on-road accidents. Innumerable unanticipated tyre punctures, worn tyres, and tyre harm have resulted in increased in customer demand for the machines. However, as the popularity for individual tyres expands, big manufacturers are focusing their attention on equipping their automobiles with high-quality tyres in order to increase tire changing machines market sales.

RESTRAINING FACTORS

"Difficult Installation Procedures and High Purchasing Cost to Hinder Market Advancement "

Installation of the machines is a bit complicated as it requires a necessary check. Each installation must be carefully planned and executed, which sometimes calls for an expert with extensive installation experience. Furthermore, there is a huge requirement for a check for ensuring cleanliness as they can be sometimes reactive to the changes that occur in the environmental conditions. During the anticipated period, the tire changing machines market share is anticipated to be hindered by difficult installation procedure and the maintenance cost and procedures.

REGIONAL INSIGHTS 

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"Increase in the Manufacturing of Commercial Vehicles to Foster Market growth in Asia Pacific "

Asia Pacific is expected to continue to lead the global tire changing machine market in terms of value. Tire changing machine market share in the coming years will be primarily fuelled by an increase in the manufacturing of commercial vehicles such as trailers. Furthermore, with the region's automobiles fleet expanding, there is a growing demand for the machines. As a result, in Southeast Asia, there is a strong emphasis on the machines that are simultaneously cost-effective and effective. In the medium to long term, the perspective for the Indian automotive market is likely to be reinforced by a growing desire to reduce emissions and improve gas mileage in automobiles. The high-investment-driven tire industry contributes significantly to regional GDP. As a result, the demand for the machines in the geographic market is growing. 

KEY INDUSTRY PLAYERS

"Notable Players in the Industry to Promote Market Expansion "

The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact. This analysis examines the global and regional effects of the outbreak mostly on the market. The study describes the market size features, and market growth by type, industry, and customer sector. Furthermore, it presents a complete examination of commercialization factors prior to and following the Covid-19 pandemic.

List of Market Players Profiled 

• Bosch Automotive Service Solutions (U.S.)
• Beissbarth GmbH (Germany)
• Hunter Engineering (U.S.)
• Snap-on Incorporated (U.S.)
• Guangzhou Jingjia Auto Equipment (China)
• Hennessey Industries (U.S.)
• TECO s.r.l. (Italy)
• NEXION SpA (Italy)
• RAVAmerica (U.S.)
• Coburg Equipments Private Limited (India)

REPORT COVERAGE

The industry report examines the global market, geographic and country-level market sizes, categorization market expansion, market share, competitor analysis, sales trends, influence of domestic and international market players, supply chain enhancement, trade laws, latest developments, possibilities analysis, business strategy market expansion analysis, product releases, area competitive landscape expanding, and technological advancements.