Tire Changers Market: Market Outlook
Over the years, the demand of tire changers has been accelerating owing to rise in inclinations towards DIY (Do-it-yourself) solutions. The necessity to go the service stations for replacing tires has been substituted by the availability of reasonable tire changers in the market. People in the transport business and even enthusiasts of automobiles are revealing a trend of buying tire changers for their personal use. From this time, it is safe to anticipate that the demand within the global market for tire changers would touch better heights in the upcoming years.
The growing number of automotive service stations has also created a consistent inflow of demand within the global market for tire changer market. Additionally, the companies of automobiles have been encouraging certain brands of tire changers, and this has further boosted the prospects of market growth.
Increasing in number of vehicle coupled with growing number of license holder to craft novel Growth Opportunities
In most of the countries due to bad roads construction has resulted in continuous incidents of flat tires or tire puncture. Uncertainty of tire damage can cause delay in work or increase in on-road accidents. On the other hand, growing requirement for an individual level, major automotive manufacturers are narrowing their focus towards equipping their vehicles with robust quality tires. Numerous instances of unpredicted tire punctures, worn out tires, and tire damages has led to the growing need for replacing tires among customers.
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According to a recent study conducted, 16.3% of the world population holds a driving license. With more buying of vehicles across many regions, demand for tire changer will continue to strengthen in the automotive industry. Furthermore, mounting need to replace flattened, damaged and worn out tires has broadened growth opportunities for the other equipment manufacturers across countries.
Tire Changer Market Trend: Major Companies Focus on Developing Innovative and Novel Product to Improve their Customer Touch Point and Sustain Lead
In order to sustain the share for tire changers market, prominent manufacturers are focusing on engaging in product launches or innovation. For example, a major manufacturer in Italy, FASEP SRL is focusing on manufacturing lever-less tire changers (automatic) in demand to offer accurate and effective tire changers. Along, with the incorporation of the lever-less features in the automatic tire changer systems, the manufacturers are concentrating on offering and quick solution to the end-users.
Additionally, a prominent manufacturer (Artigilo Master) is concentrating on integrating smart Corghi system technology in the tire changers to offer technologically advanced experience to the end use customers. With the integration of this smart technology (Corghi system), the end use customers can conveniently mount and demount the automotive tires without coming in contact with the rim. Additional, incorporation of this technology lowers the pressure of tire while substituting the damaged tires in the vehicles. Through product innovation and launch leading manufacturers are focusing on expanding their customer touch point and improving their position in the competitive market.
Tire Changers Market: Segmentation
On the basis of vehicle type, the Tire Changers market can be segmented into:
- Passenger Car
- Light truck
- Motor Cycle
- Heavy Duty
On the basis of components, the Tire Changers market can be segmented into:
- Mount/demount Mechanism
- Foot Pedals
- Table Top and rim clamps
- Bead Loosening System
- Air Pressure System
On the basis of end use customer, the Tire Changers market can be segmented into:
- Motor vehicle Manufacturers
- Repair Shop
- 4s Shop
- DIY solutions (garages)
On the basis of tire size, the Tire Changers market can be segmented into:
- Above 24 inches
- 15 inches to 24 inches
- Below 15 inches or less
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Tire Changers Market: Market Participants
Examples of some of the market participants/vendors identified in the Tire Changers market across the globe are:
- Hunter Engineering Company
- Teco Automotive Equipment
- Eagle Equipment