Market Overview:
The global car wheel balancing weight market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for passenger vehicles and commercial vehicles across the globe. In addition, factors such as rising disposable income and technological advancements are also contributing to the growth of this market. The global car wheel balancing weight market is segmented on the basis of type, application, and region. On the basis of type, it is divided into clip-on type and adhesive type. The clip-on type segment dominates this market owing to its easy installation process as compared to adhesive types which require more time for installation process. Furthermore, on account of their low cost as compared to other types available in this market, they are preferred by most consumers globally. By application, it is classified into passenger vehicle and commercial vehicle segments respectively Commercial vehicles are anticipated witness higher demand due to increase in freight traffic all over world .Geographically speaking ,the global car wheel balancing weightmarket has been segmented into North America ,Latin America Europe Asia Pacificand Middle East & Africa (MEA).
Product Definition:
A car wheel balancing weight is a small, round, metallic object that is attached to the inside or outside of a car's wheel in order to balance it.
Clip-On Type:
Clip-on type is a wheel balancer that clips onto the front or rear of any car or truck wheel. It's primary function is to stop the tires from spinning and reduce vibration in automobiles. In addition, it helps in reducing heat buildup within the vehicle which can damage sensitive automotive parts.
The market for clip-on type has been growing rapidly over the past few years owing to its rising demand across various end-use industries such as construction, agriculture, mining.
Adhesive Type:
Adhesive type is a material that can stick two surfaces together. The most common types of adhesives are the hot melt, solvent-based, and water-based. They are widely used in packaging applications such as carton sealing and lamination where they provide an adhesive layer between paper & plastic or metal & plastic surface and the internal layers of a box or package must be intact for transportation.
Application Insights:
The passenger vehicle application segment accounted for the largest share of over 70.0% in 2017. The demand for car wheels is generally higher in developed regions such as North America and Europe than that of developing regions such as Asia Pacific and Middle East & Africa. This trend is likely to continue during the forecast period owing to various factors including increasing income levels, urbanization, growing population along with changing lifestyles have increased the demand for automobiles across various regions globally.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing increasing demand for car wheel balancing weight from China, India, Japan, South Korea and Taiwan. This can be attributed to growing automotive production in these countries coupled with rising investments by foreign companies such as Toyota Industries Corporation (TIC), Volkswagen Group, BMW AG among others.
The European market was valued at USD X million in 2017 owing to stringent government regulations regarding vehicle safety & performance along with growing R&D activities by major manufacturers pertaining to development of advanced technologies for enhanced customer experience are some of the factors anticipated to drive growth over the forecast period.
Growth Factors:
- Increasing demand for lightweight vehicles to reduce fuel consumption and emissions
- Rising demand from the automotive sector for wheel balancing weights
- Growing popularity of alloy wheels in the automotive industry
- Technological advancements in wheel balancing weight manufacturing process
- Stringent government regulations on vehicular emissions
Scope Of The Report
Report Attributes
Report Details
Report Title
Car Wheel Balancing Weight Market Research Report
By Type
Clip-On Type, Adhesive Type
By Application
Passenger Vehicle, Commercial Vehicle
By Companies
WEGMANN, TOHO KOGYO, Hennessy, Baolong, Shengshi Weiye, 3M, Trax JH Ltd, Yaqiya, HEBEI XST, Hatco, Wurth USA, Alpha Autoparts, Holman, Bharat Balancing Weightss, HEBEI FANYA
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Car Wheel Balancing Weight Market Report Segments:
The global Car Wheel Balancing Weight market is segmented on the basis of:
Types
Clip-On Type, Adhesive Type
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Vehicle, Commercial Vehicle
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- WEGMANN
- TOHO KOGYO
- Hennessy
- Baolong
- Shengshi Weiye
- 3M
- Trax JH Ltd
- Yaqiya
- HEBEI XST
- Hatco
- Wurth USA
- Alpha Autoparts
- Holman
- Bharat Balancing Weightss
- HEBEI FANYA
Highlights of The Car Wheel Balancing Weight Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Clip-On Type
- Adhesive Type
- By Application:
- Passenger Vehicle
- Commercial Vehicle
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Car Wheel Balancing Weight Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
The weight of the car wheel is balanced to ensure that the vehicle stays in balance.
Some of the key players operating in the car wheel balancing weight market are WEGMANN, TOHO KOGYO, Hennessy, Baolong, Shengshi Weiye, 3M, Trax JH Ltd, Yaqiya, HEBEI XST, Hatco, Wurth USA, Alpha Autoparts, Holman, Bharat Balancing Weightss, HEBEI FANYA.
The car wheel balancing weight market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Car Wheel Balancing Weight Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Car Wheel Balancing Weight Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Car Wheel Balancing Weight Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Car Wheel Balancing Weight Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Car Wheel Balancing Weight Market Size & Forecast, 2018-2028
4.5.1 Car Wheel Balancing Weight Market Size and Y-o-Y Growth
4.5.2 Car Wheel Balancing Weight Market Absolute $ Opportunity
Chapter 5 Global Car Wheel Balancing Weight Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Car Wheel Balancing Weight Market Size Forecast by Type
5.2.1 Clip-On Type
5.2.2 Adhesive Type
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Car Wheel Balancing Weight Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Car Wheel Balancing Weight Market Size Forecast by Applications
6.2.1 Passenger Vehicle
6.2.2 Commercial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Car Wheel Balancing Weight Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Car Wheel Balancing Weight Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Car Wheel Balancing Weight Analysis and Forecast
9.1 Introduction
9.2 North America Car Wheel Balancing Weight Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Car Wheel Balancing Weight Market Size Forecast by Type
9.6.1 Clip-On Type
9.6.2 Adhesive Type
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Car Wheel Balancing Weight Market Size Forecast by Applications
9.10.1 Passenger Vehicle
9.10.2 Commercial Vehicle
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Car Wheel Balancing Weight Analysis and Forecast
10.1 Introduction
10.2 Europe Car Wheel Balancing Weight Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Car Wheel Balancing Weight Market Size Forecast by Type
10.6.1 Clip-On Type
10.6.2 Adhesive Type
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Car Wheel Balancing Weight Market Size Forecast by Applications
10.10.1 Passenger Vehicle
10.10.2 Commercial Vehicle
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Car Wheel Balancing Weight Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Car Wheel Balancing Weight Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Car Wheel Balancing Weight Market Size Forecast by Type
11.6.1 Clip-On Type
11.6.2 Adhesive Type
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Car Wheel Balancing Weight Market Size Forecast by Applications
11.10.1 Passenger Vehicle
11.10.2 Commercial Vehicle
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Car Wheel Balancing Weight Analysis and Forecast
12.1 Introduction
12.2 Latin America Car Wheel Balancing Weight Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Car Wheel Balancing Weight Market Size Forecast by Type
12.6.1 Clip-On Type
12.6.2 Adhesive Type
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Car Wheel Balancing Weight Market Size Forecast by Applications
12.10.1 Passenger Vehicle
12.10.2 Commercial Vehicle
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Car Wheel Balancing Weight Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Car Wheel Balancing Weight Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Car Wheel Balancing Weight Market Size Forecast by Type
13.6.1 Clip-On Type
13.6.2 Adhesive Type
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Car Wheel Balancing Weight Market Size Forecast by Applications
13.10.1 Passenger Vehicle
13.10.2 Commercial Vehicle
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Car Wheel Balancing Weight Market: Competitive Dashboard
14.2 Global Car Wheel Balancing Weight Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 WEGMANN
14.3.2 TOHO KOGYO
14.3.3 Hennessy
14.3.4 Baolong
14.3.5 Shengshi Weiye
14.3.6 3M
14.3.7 Trax JH Ltd
14.3.8 Yaqiya
14.3.9 HEBEI XST
14.3.10 Hatco
14.3.11 Wurth USA
14.3.12 Alpha Autoparts
14.3.13 Holman
14.3.14 Bharat Balancing Weightss
14.3.15 HEBEI FANYA
