Market Overview:
The global passenger vehicle 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 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 passenger vehicle 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.
Product Definition:
A Passenger Vehicle Wheel Balancing Weight is a weight that is attached to the wheel of a passenger vehicle in order to balance the wheel. The importance of Passenger Vehicle Wheel Balancing Weight is that it helps to ensure that the wheel is balanced, which in turn helps to ensure that the passenger vehicle rides smoothly.
Clip-On Type:
Clip-on type is a device, which is fixed to the vehicle's wheel and used for balancing the weight of another object on it. It can be clip-on to front or rear wheels. The main function of clip-on balancer is to distribute the weight of another object uniformly over both tires, so that if any one tire gets punctured then there won’t be any significant change in the pressure distribution on other tire.
Adhesive Type:
The adhesive type used in the passenger vehicle wheel balancing market is a two-component system, which includes an adhesive base and a special release liner. The liner is designed to separate from the base on application of heat; hence it’s commonly known as “heat releasing” or “releasing” adhesives.
Application Insights:
The other application segment includes trucks, buses and coaches. The demand for passenger vehicle wheel balancing weight is expected to be high in this segment owing to the heavy traffic of trucks, buses and coaches on roads across various regions. In addition, rising number of fatal accidents involving unbalanced vehicles is further anticipated to drive the market growth over the forecast period.
Sedan dominated the global passenger vehicle wheel balancing weight market with a share of more than 40% in 2017 owing to its popularity as a preferred mode of transportation for short trips within cities or between cities at lower speeds. Moreover, increasing sales volume for sedans in emerging economies such as China and India has also contributed significantly towards industry growth over recent years.
Regional Analysis:
Asia Pacific dominated the global market in terms of revenue with a share of over 40.0% in 2017. This is attributed to the increasing production and sales of passenger vehicles in this region, especially in China, India, Japan and South Korea. The growing population coupled with rising disposable income levels has resulted in an increased demand for passenger cars which will drive regional growth over the forecast period.
The European market was valued at USD X million as on 2030 owing to stringent safety norms regarding vehicle weight imposed on commercial as well as private vehicles that are driven by passengers across countries such as France, Germany and Italy among other nations within Europe that have adopted these norms thus far significantly influencing overall regional growth over the next eight years or so.
Growth Factors:
- Increasing demand for passenger vehicles
- Rising disposable income of consumers
- Technological advancements in balancing weights industry
- Growing awareness about the importance of wheel balancing weight among consumers
- Stringent government regulations for vehicle safety
Scope Of The Report
Report Attributes
Report Details
Report Title
Passenger Vehicle Wheel Balancing Weight Market Research Report
By Type
Clip-On Type, Adhesive Type
By Application
Sedan, Suv, Other
By Companies
WEGMANN, Plombco, TOHO KOGYO, Hennessy, Shengshi Weiye, 3M, Trax JH Ltd, Baolong, Jiangyin Yinxinde, HEBEI XST, Yaqiya, Wurth USA, Alpha Autoparts, Holman, Hatco, 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
248
Number of Tables & Figures
174
Customization Available
Yes, the report can be customized as per your need.
Global Passenger Vehicle Wheel Balancing Weight Market Report Segments:
The global Passenger Vehicle 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
Sedan, Suv, Other
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
- Plombco
- TOHO KOGYO
- Hennessy
- Shengshi Weiye
- 3M
- Trax JH Ltd
- Baolong
- Jiangyin Yinxinde
- HEBEI XST
- Yaqiya
- Wurth USA
- Alpha Autoparts
- Holman
- Hatco
- Bharat Balancing Weightss
- HEBEI FANYA
Highlights of The Passenger Vehicle 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:
- Sedan
- Suv
- Other
- 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 Passenger Vehicle 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
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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?
Passenger Vehicle Wheel Balancing Weight is the weight of the vehicle's wheels and tires. It is important to balance the weight of a car so that it doesn't cause instability or excessive wear on its suspension and other mechanical components.
Some of the major players in the passenger vehicle wheel balancing weight market are WEGMANN, Plombco, TOHO KOGYO, Hennessy, Shengshi Weiye, 3M, Trax JH Ltd, Baolong, Jiangyin Yinxinde, HEBEI XST, Yaqiya, Wurth USA, Alpha Autoparts, Holman, Hatco, Bharat‚Â Balancing‚Â Weightss, HEBEI FANYA.
The passenger vehicle wheel balancing weight market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Passenger Vehicle Wheel Balancing Weight Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Passenger Vehicle Wheel Balancing Weight Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Passenger Vehicle Wheel Balancing Weight Market - Supply Chain
4.5. Global Passenger Vehicle Wheel Balancing Weight Market Forecast
4.5.1. Passenger Vehicle Wheel Balancing Weight Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Passenger Vehicle Wheel Balancing Weight Market Size (000 Units) and Y-o-Y Growth
4.5.3. Passenger Vehicle Wheel Balancing Weight Market Absolute $ Opportunity
5. Global Passenger Vehicle Wheel Balancing Weight Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Type
5.3.1. Clip-On Type
5.3.2. Adhesive Type
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Passenger Vehicle Wheel Balancing Weight Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Application
6.3.1. Sedan
6.3.2. Suv
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Passenger Vehicle Wheel Balancing Weight Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Passenger Vehicle Wheel Balancing Weight Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Passenger Vehicle Wheel Balancing Weight Demand Share Forecast, 2019-2026
9. North America Passenger Vehicle Wheel Balancing Weight Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Application
9.4.1. Sedan
9.4.2. Suv
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Type
9.7.1. Clip-On Type
9.7.2. Adhesive Type
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Passenger Vehicle Wheel Balancing Weight Demand Share Forecast, 2019-2026
10. Latin America Passenger Vehicle Wheel Balancing Weight Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Application
10.4.1. Sedan
10.4.2. Suv
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Type
10.7.1. Clip-On Type
10.7.2. Adhesive Type
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Passenger Vehicle Wheel Balancing Weight Demand Share Forecast, 2019-2026
11. Europe Passenger Vehicle Wheel Balancing Weight Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Application
11.4.1. Sedan
11.4.2. Suv
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Type
11.7.1 Clip-On Type
11.7.2. Adhesive Type
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Passenger Vehicle Wheel Balancing Weight Demand Share, 2019-2026
12. Asia Pacific Passenger Vehicle Wheel Balancing Weight Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Application
12.4.1. Sedan
12.4.2. Suv
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Type
12.7.1. Clip-On Type
12.7.2. Adhesive Type
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Passenger Vehicle Wheel Balancing Weight Demand Share, 2019-2026
13. Middle East & Africa Passenger Vehicle Wheel Balancing Weight Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Passenger Vehicle Wheel Balancing Weight Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Application
13.4.1. Sedan
13.4.2. Suv
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Passenger Vehicle Wheel Balancing Weight Market Size and Volume Forecast by Type
13.7.1. Clip-On Type
13.7.2. Adhesive Type
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Passenger Vehicle Wheel Balancing Weight Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Passenger Vehicle Wheel Balancing Weight Market: Market Share Analysis
14.2. Passenger Vehicle Wheel Balancing Weight Distributors and Customers
14.3. Passenger Vehicle Wheel Balancing Weight Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. WEGMANN
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Plombco
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. TOHO KOGYO
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Hennessy
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Shengshi Weiye
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. 3M
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Trax JH Ltd
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Baolong
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Jiangyin Yinxinde
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. HEBEI XST
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Yaqiya
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Wurth USA
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Alpha Autoparts
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Holman
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Hatco
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Bharat Balancing Weightss
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. HEBEI FANYA
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
