LONDON--(BUSINESS WIRE)--The global automotive wheel alignment system market is expected to post a CAGR close to 5%, according to the latest market research report by Technavio. However, the market is expected to decelerate on a year-on-year basis during the forecast period 2019-2023.
The global demand for automotive repair and maintenance services is growing due to numerous factors. One of the major driving factors is the rising lifespan of vehicles, which is leading to higher vehicle population in most of the prominent automotive countries. This increase in vehicle population is leading to the growing demand for automotive repair and maintenance services. Furthermore, as modern vehicles are used for a longer duration, there is a higher demand for preventive maintenance services of essential automotive components, including wheel alignment systems. Therefore, such factors are expected to boost market growth during the forecast period.
As per Technavio, the growing popularity of wireless automotive WAS will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global automotive wheel alignment system market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Automotive Wheel Alignment System Market: Growing Popularity of Wireless Automotive (WAS)
The demand for faster and efficient automotive WAS is increasing among customers. The concerned market is witnessing growth in demand for wireless automotive WAS, also known as non-contact automotive WAS, owing to its flexible installation. Moreover, the wireless automotive WAS enables faster and accurate wheel alignment for all four wheels, simultaneously. The faster and accurate wheel alignment is enabled through laser, and 3D cameras by the wireless WAS. The wireless automotive WAS uses Bluetooth technology for wireless communication, and the system can be operated using a remote control. Prominent vendors, such as Bosch and Snap-on, offer wireless automotive WAS. As wireless automotive WASs allows faster measurement, automotive repair shops can cater to more customers, which leads to an increase in the turnover of automotive repair shops. Hence, these shops prefer wireless automotive WASs. Thus, it is expected that the growing popularity of the wireless automotive WAS will significantly benefit the market in focus.
“Apart from the growing popularity of wireless automotive WAS, the development of ADA-ready WAS and the growing online purchase of automotive products are some other major factors that will drive market growth during the forecast period,” says a senior analyst at Technavio.
Global Automotive Wheel Alignment System Market: Segmentation Analysis
This market research report segments the global automotive wheel alignment system market by type (CCD wheel alignment system, 3D wheel alignment system, and DIY wheel alignment system) and geographical regions (APAC, Europe, North America, South America, and MEA).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA, respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth due to the high adoption of passenger cars and commercial vehicles in the region
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.