Automotive Wheel Alignment System Market: Introduction
- Automotive wheel alignment system refers to the alignment or adjustment of the front wheel suspension and steering mechanism of an automotive vehicle. The key to proper alignment is adjusting the angles of the tires, which affects the wheel contact with the road.
Key Drivers of Automotive Wheel Alignment System Market
- Increasing need for vehicle and passenger safety is a major factor driving the wheel alignment system market. The constant velocity (CV) joint is a highly complex part in a vehicle. The constant velocity (CV) joint and its components, such as the CV axle, enable the front wheels to both steer and drive the car. Misaligned wheels may cause damage to vehicle tires, reducing vehicle mileage or in some case may lead to vehicle crashes owing to improper steering operation. Therefore, vehicle manufacturers suggest wheel alignment to be carried out every six months or after every 10,000 kilometers, whichever occurs first. The procedure to align the wheels is inexpensive and requires less time and therefore, majority of consumers undertake this procedure on time. Furthermore, wheel alignment needs to be carried out periodically in order to achieve high performance and efficiency of vehicles and vehicle brake components, which in turn is driving the wheel alignment system market.
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Challenges in Automotive Wheel Alignment System Market
- Design and manufacturing of the wheel alignment machines is complex and hence, the cost of production of these machines is high. Moreover, the space required for installation of the machine is large, which adds to the need for more land to build the facility and install the machine. Furthermore, the initial installation cost of the whole wheel alignment system is high. Additionally, a skilled technician is required to operate, repair, and maintain the wheel alignment machine. All these expenses add on to the final cost of the wheel alignment service machine. Therefore, the high cost of initial setup and high cost of wheel alignment machine is expected to hinder the global automotive wheel alignment system market.
- The COVID-19 pandemic has affected domestic as well as international automotive supply chains, manufacturing and R&D operations, thus hampering the automotive industry. Post first wave of COVID-19, global economies have started to open automotive manufacturing and supply chain operations, thus the COVID impact on the industry have seems to reached a state of normalcy, however, resurgence in COVID-19 cases in countries across Europe has prompted governments to impose a second round of lockdown restrictions and hence, the uncertainty in the automotive industry continues. A gradual recovery in demand for automotive and ancillaries is anticipated in the next few months despite concerns around the risk of a second wave of infection in several countries and other geopolitical risks.
Opportunities in Automotive Wheel Alignment System Market
- Easy access to passenger cars at a significantly lower cost is driving the global vehicle subscription industry. Consequently, this is fueling the number of passenger cars moving on the road. Therefore, this scenario is offering significant opportunity for the global wheel alignment system market.
Automotive Wheel Alignment System Market in Asia Pacific to expand at a notable growth rate
- Asia Pacific an expanding and major market for automotive wheel alignment, owing to rapid urbanization, increase in population, industrialization, increase in per capita income, surge in economic activity, development of road and infrastructure, and expansion of the construction industry, which are expected to fuel the demand for transportation. Furthermore, expansion of the e-commerce industry coupled with rapid expansion of the road logistics network is rapidly propelling the automotive industry and subsequently, the wheel alignment systems market in Asia Pacific.
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Key Players Operating in Automotive Wheel Alignment System Market
The global automotive wheel alignment system market is moderately consolidated. A few of the key players operating in the global automotive wheel alignment system market are:
- BMW AG
- Bridgestone Corporation
- Continental AG
- DRiV Incorporated
- Ford Motors
- General Motors
- Mahindra & Mahindra Ltd.
- Mercedes Benz
- Robert Bosch GmbH
- TBC Corporation
- The Goodyear Tire & Rubber Company
- Tire Pros Francorp
- Toyota Motor Corporation
- Volkswagen AG
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