Wheel Balancing Weights Market: Introduction
The concept of tire balance can also be referred to as imbalance or unbalance. This describes the distribution of mass within a vehicle tire or the entire wheel assembly, inclusive of the rim to which the tire is attached. Wheel balancing weights play a prominent role in the day-to-day operations of several wheel on-board balancing systems. The main function of wheel balancing weights are both, in OEMs and the aftermarket. When the wheels are installed to a vehicle, they are measured again on a wheel balancing machine. At the time of measurement, corrected wheel balancing weights are applied to neutralize the collective effect of the tire and the wheel unbalance. In the automotive aftermarket, the tires may be again rebalanced if the driver identifies excessive vibration. Recent advancements in the technologies in vehicles have enabled the use of automotive wheel balancing weights to counteract the wheel unbalance and stabilize this effect, which are responsible for controlling various vehicle dynamics, coupled with the extensive range of supplementary purposes. Wheel balancing weights are available in various styles and sizes, and they must be precisely attached to the wheel rim so that they do not fall off or move. There are different types of wheel balancing weights or style clips available in the global market for different types of vehicle rims. The latest addition to the wheel balancing weights are the self-adhesive stick on counter weights which are mounted inside the face of the alloy wheels of an automobile.
Driver and road safety is one of the prominent challenges at present, and it is estimated to be in the future as well. One of the main reasons for several road accidents is the slow reaction of drivers and imbalance in the tires of an automobile in the accidental situation while driving at a higher speed. High-tech automotive balancing machines are capable of removing all the imbalances in a vehicle with the help of wheel balancing weights, and enhancing the driving features, which reduces significant human error and improves vehicle safety. The effective use of wheel balancing weights is one of the key developments in this area, and is a step forward for increasing driving comfort, automating driving, and crash prevention. Wheel balancing weights are used for enhancing various driving features that give better control to drivers in hazardous accidental situations.
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Wheel Balancing Weights Market: Dynamics
Some of the prominent factors influencing the growth of the wheel balancing weights market are the increasing vehicle production, globally, and the need for the enhancement of safety features. The demand for wheel balancing weights in the global market is estimated to grow at an incremental rate in the coming years. Owing to the increased number of road accidents, globally, prominent emphasis is being given on improving road safety regulations and laws for making automobiles safe for driving, and have a regular check and maintenance of the wheel assembly. This, in turn, is driving the increasing consumption of automotive monitoring devices, and consequently increasing the demand for wheel balancing weights in the global market. These wheel balancing weights not only help in removing a vehicle’s tire imbalance, but also are used for effective vibration control and high driving satisfaction. Latest innovations and developments in the global market have led to the introduction of long-lasting metal alloys and rubber weights, which will, in turn, drive the growth of high-accuracy wheel balancing weights in the market. Metal wheel balancing weight systems are expected to hold a prominent market share in terms of value and volume, which is estimated to propel the demand for the global wheel balancing weights market, owing to stringent rules and regulations imposed to reduce road accidents. This increasing growth of wheel balancing weights is directly proportionate to the growth of the wheel balancing machines in the global market.
The most protuberant factors increasing the growth of wheel balancing weights in the global market include advanced technologies in automobiles and clean transportation. Rules and regulations enforced by ruling authorities and governments regarding vehicle safety, coupled with safety of the environment encourage manufacturers to produce environment-friendly and efficient vehicles, which has successively resulted in an increase in the demand for wheel balancing machines and wheel balancing weights in the global market. Escalating costs of wheel balancing weights and the corresponding technology is one of the key restraints contradicting the growth of the global wheel balancing weights market.
Wheel Balancing Weights Market: Segmentation
The wheel balancing weights market can be segmented based on material type, sales channel, and vehicle type.
The global wheel balancing weights market is segmented on the basis of material type:
Clip-On Wheel Weights
Adhesive Wheel Weights
The global wheel balancing weights market is segmented on the basis of sales channel:
OEMs (Original Equipment Manufacturers)
The global wheel balancing weights market is segmented on the basis of vehicle type:
Wheel Balancing Weights Market: Regional Outlook
The global wheel balancing weights market can be segmented into seven geographical locations such as North America, Latin America, Europe, Southeast Asia, China, Japan, and Middle East & Africa. The North American and European regions are anticipated to grow strongly in the wheel balancing weights market, due to the increase in disposable income, higher standards of living, and higher inclination towards safety. In the MEA region, the sale of alcohol is prohibited owing to religious factors, which can affect the sale of wheel balancing weights. The growth of automotive industry in the emerging regions such as Asia Pacific, Latin America and MEA will play a pivotal role in increasing the demand of wheel balancing weights in the global market over the forthcoming years.
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Wheel Balancing Weights Market: Key Participants
Examples of some of the market participants in the global wheel balancing weights market are:
Bharat Balancing Weights
HOFMANN POWER WEIGHT
Cosmo India Pvt. Ltd.
WEGMANN automotive GmbH & Co. KG (Perfect Equipment)
Lawson Products, Inc.
Vibha Auto Engineering
Tesco of America
Force Auto Solutions
K. WHEEL BALANCE