Product Code: ETC13237297 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Shubham Deep | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Wheel and Tire Equipment Market was valued at USD 3.6 Billion in 2024 and is expected to reach USD 8.2 Billion by 2031, growing at a compound annual growth rate of 13.00% during the forecast period (2025-2031).
The Global Wheel and Tire Equipment Market is experiencing steady growth due to the increasing demand for automotive vehicles worldwide. The market encompasses a wide range of products including tire changers, wheel balancers, wheel aligners, and tire inspection equipment. Factors such as the rise in vehicle production, growing automotive aftermarket industry, and technological advancements in tire and wheel maintenance equipment are driving the market expansion. Additionally, the increasing adoption of advanced features such as automated systems, digital displays, and wireless connectivity in wheel and tire equipment is further propelling market growth. North America and Europe hold significant market shares, while the Asia-Pacific region is witnessing rapid growth attributed to the burgeoning automotive industry in countries like China and India. Overall, the Global Wheel and Tire Equipment Market is poised for continued growth in the foreseeable future.
The Global Wheel and Tire Equipment Market is experiencing significant growth driven by increasing vehicle sales, advancements in tire technology, and the rising demand for customized wheels. The market is witnessing a shift towards automated tire mounting and balancing equipment, as well as the adoption of digital tire pressure monitoring systems. Additionally, the growing popularity of electric vehicles and the increasing focus on vehicle safety are creating opportunities for innovative wheel and tire equipment solutions. Key trends include the emergence of smart tire technology, integration of artificial intelligence in tire maintenance equipment, and the development of eco-friendly tire manufacturing processes. Manufacturers in the market are focusing on enhancing product efficiency, durability, and user-friendliness to cater to the evolving needs of the automotive industry.
The Global Wheel and Tire Equipment Market faces several challenges including increasing competition from low-cost manufacturers, fluctuating raw material prices affecting production costs, and rapid technological advancements leading to the need for continuous innovation and upgrades. Additionally, strict regulatory requirements for quality standards and safety measures pose challenges for manufacturers in the market. Furthermore, the market is impacted by economic uncertainties, trade tensions, and supply chain disruptions that can hinder the smooth operation of wheel and tire equipment businesses globally. To stay competitive and address these challenges, companies in the industry need to focus on enhancing product quality, streamlining operations, investing in research and development, and establishing strong partnerships to navigate through the dynamic market landscape.
The Global Wheel and Tire Equipment Market is primarily driven by the increasing demand for automotive vehicles worldwide, particularly in emerging economies. The rising disposable income levels, improving road infrastructure, and changing consumer preferences towards customizing vehicles are fueling the market growth. Additionally, technological advancements in tire and wheel manufacturing, such as the development of advanced tire mounting and balancing equipment, are further boosting market expansion. The growing trend of vehicle customization, coupled with the increasing focus on vehicle safety and performance, is also driving the demand for wheel and tire equipment globally. Furthermore, stringent regulations regarding vehicle safety and environmental concerns are prompting manufacturers to invest in innovative equipment to meet the evolving requirements, thus propelling market growth.
Government policies related to the Global Wheel and Tire Equipment Market primarily focus on regulations pertaining to safety standards, environmental sustainability, and trade agreements. Many countries have strict guidelines for the production and installation of wheels and tires to ensure consumer safety and reduce environmental impact. Additionally, there are tariffs and trade agreements in place that can affect the import and export of wheel and tire equipment, influencing market dynamics. Governments also promote research and development in the industry to drive innovation and technological advancements. Overall, government policies play a crucial role in shaping the operating environment for companies in the Global Wheel and Tire Equipment Market, influencing product quality, market access, and competitiveness.
The Global Wheel and Tire Equipment Market is poised for steady growth in the coming years, driven by increasing vehicle sales worldwide, advancements in automotive technology, and rising demand for customized wheels and tires. The market is expected to benefit from the growing automotive aftermarket sector, as consumers seek to upgrade and maintain their vehicles. Additionally, the shift towards electric vehicles and autonomous driving technologies is likely to create opportunities for specialized wheel and tire equipment. However, challenges such as fluctuating raw material prices and stringent government regulations regarding emissions may impact market growth. Overall, with ongoing innovation and a focus on sustainability, the Global Wheel and Tire Equipment Market is anticipated to expand at a moderate pace in the foreseeable future.
In the Global Wheel and Tire Equipment Market, regional insights show varying trends. Asia is a key growth region due to the expanding automotive industry and increasing demand for aftermarket customization. North America is a mature market with a focus on advanced technology and innovation in wheel and tire equipment. Europe also emphasizes technological advancements and sustainability in products. The Middle East and Africa region is witnessing steady growth driven by infrastructure development and rising disposable incomes. Latin America is experiencing moderate growth, with a focus on cost-effective solutions and increasing investments in automotive manufacturing. Overall, the market dynamics differ across regions, with each presenting unique opportunities and challenges for wheel and tire equipment manufacturers.
Global Wheel and Tire Equipment Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Wheel and Tire Equipment Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Wheel and Tire Equipment Market Revenues & Volume, 2021 & 2031F |
3.3 Global Wheel and Tire Equipment Market - Industry Life Cycle |
3.4 Global Wheel and Tire Equipment Market - Porter's Five Forces |
3.5 Global Wheel and Tire Equipment Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Wheel and Tire Equipment Market Revenues & Volume Share, By Equipment Type, 2021 & 2031F |
3.7 Global Wheel and Tire Equipment Market Revenues & Volume Share, By Vehicle Type, 2021 & 2031F |
3.8 Global Wheel and Tire Equipment Market Revenues & Volume Share, By End User, 2021 & 2031F |
4 Global Wheel and Tire Equipment Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Wheel and Tire Equipment Market Trends |
6 Global Wheel and Tire Equipment Market, 2021 - 2031 |
6.1 Global Wheel and Tire Equipment Market, Revenues & Volume, By Equipment Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Wheel and Tire Equipment Market, Revenues & Volume, By Wheel Balancer, 2021 - 2031 |
6.1.3 Global Wheel and Tire Equipment Market, Revenues & Volume, By Tire Changer, 2021 - 2031 |
6.1.4 Global Wheel and Tire Equipment Market, Revenues & Volume, By Tire Inflator, 2021 - 2031 |
6.1.5 Global Wheel and Tire Equipment Market, Revenues & Volume, By Wheel Alignment Systems, 2021 - 2031 |
6.1.6 Global Wheel and Tire Equipment Market, Revenues & Volume, By Lifting Equipment, 2021 - 2031 |
6.2 Global Wheel and Tire Equipment Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Wheel and Tire Equipment Market, Revenues & Volume, By Two Wheelers, 2021 - 2031 |
6.2.3 Global Wheel and Tire Equipment Market, Revenues & Volume, By Passenger Vehicle, 2021 - 2031 |
6.2.4 Global Wheel and Tire Equipment Market, Revenues & Volume, By Commercial Vehicle, 2021 - 2031 |
6.3 Global Wheel and Tire Equipment Market, Revenues & Volume, By End User, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Wheel and Tire Equipment Market, Revenues & Volume, By Automotive Repair Shops, 2021 - 2031 |
6.3.3 Global Wheel and Tire Equipment Market, Revenues & Volume, By Tire Service Centers, 2021 - 2031 |
6.3.4 Global Wheel and Tire Equipment Market, Revenues & Volume, By Motorcycle Repair Shops, 2021 - 2031 |
6.3.5 Global Wheel and Tire Equipment Market, Revenues & Volume, By Automotive OEM Dealerships, 2021 - 2031 |
7 North America Wheel and Tire Equipment Market, Overview & Analysis |
7.1 North America Wheel and Tire Equipment Market Revenues & Volume, 2021 - 2031 |
7.2 North America Wheel and Tire Equipment Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Wheel and Tire Equipment Market, Revenues & Volume, By Equipment Type, 2021 - 2031 |
7.4 North America Wheel and Tire Equipment Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
7.5 North America Wheel and Tire Equipment Market, Revenues & Volume, By End User, 2021 - 2031 |
8 Latin America (LATAM) Wheel and Tire Equipment Market, Overview & Analysis |
8.1 Latin America (LATAM) Wheel and Tire Equipment Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Wheel and Tire Equipment Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Wheel and Tire Equipment Market, Revenues & Volume, By Equipment Type, 2021 - 2031 |
8.4 Latin America (LATAM) Wheel and Tire Equipment Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
8.5 Latin America (LATAM) Wheel and Tire Equipment Market, Revenues & Volume, By End User, 2021 - 2031 |
9 Asia Wheel and Tire Equipment Market, Overview & Analysis |
9.1 Asia Wheel and Tire Equipment Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Wheel and Tire Equipment Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Wheel and Tire Equipment Market, Revenues & Volume, By Equipment Type, 2021 - 2031 |
9.4 Asia Wheel and Tire Equipment Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
9.5 Asia Wheel and Tire Equipment Market, Revenues & Volume, By End User, 2021 - 2031 |
10 Africa Wheel and Tire Equipment Market, Overview & Analysis |
10.1 Africa Wheel and Tire Equipment Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Wheel and Tire Equipment Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Wheel and Tire Equipment Market, Revenues & Volume, By Equipment Type, 2021 - 2031 |
10.4 Africa Wheel and Tire Equipment Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
10.5 Africa Wheel and Tire Equipment Market, Revenues & Volume, By End User, 2021 - 2031 |
11 Europe Wheel and Tire Equipment Market, Overview & Analysis |
11.1 Europe Wheel and Tire Equipment Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Wheel and Tire Equipment Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Wheel and Tire Equipment Market, Revenues & Volume, By Equipment Type, 2021 - 2031 |
11.4 Europe Wheel and Tire Equipment Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
11.5 Europe Wheel and Tire Equipment Market, Revenues & Volume, By End User, 2021 - 2031 |
12 Middle East Wheel and Tire Equipment Market, Overview & Analysis |
12.1 Middle East Wheel and Tire Equipment Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Wheel and Tire Equipment Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Wheel and Tire Equipment Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Wheel and Tire Equipment Market, Revenues & Volume, By Equipment Type, 2021 - 2031 |
12.4 Middle East Wheel and Tire Equipment Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
12.5 Middle East Wheel and Tire Equipment Market, Revenues & Volume, By End User, 2021 - 2031 |
13 Global Wheel and Tire Equipment Market Key Performance Indicators |
14 Global Wheel and Tire Equipment Market - Export/Import By Countries Assessment |
15 Global Wheel and Tire Equipment Market - Opportunity Assessment |
15.1 Global Wheel and Tire Equipment Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Wheel and Tire Equipment Market Opportunity Assessment, By Equipment Type, 2021 & 2031F |
15.3 Global Wheel and Tire Equipment Market Opportunity Assessment, By Vehicle Type, 2021 & 2031F |
15.4 Global Wheel and Tire Equipment Market Opportunity Assessment, By End User, 2021 & 2031F |
16 Global Wheel and Tire Equipment Market - Competitive Landscape |
16.1 Global Wheel and Tire Equipment Market Revenue Share, By Companies, 2024 |
16.2 Global Wheel and Tire Equipment Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |