Tire and Wheel Handling Equipment Market Hits $7.74 Bn by 2034

Tire and Wheel Handling Equipment Market Trends and Analysis 2034

Based on market forecasts, the tire and wheel handling equipment sector will expand from USD 4.65 billion in 2024 to USD 7.74 billion by 2034, experiencing a CAGR of 5.22%. The automotive industry is booming with innovations in electric, hybrid, and driverless cars, driven by tech advancements, safety features, and eco-friendly options. While economic growth boosts demand, regulations and supply chain challenges push companies to innovate, ensuring sustainability.

Last Updated: 17 February 2025 Category: Aftermarket Insight Code: 1104 Format: PDF / PPT / Excel

Tire and Wheel Handling Equipment Market Size and Growth Insights

The tire and wheel handling equipment market is forecasted to expand from USD 4.89 billion in 2025 to USD 7.74 billion by 2034, growing at a CAGR of 5.22% from 2025 to 2034.

Tire and Wheel Handling Equipment Market Size 2023 - 2032

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The automotive industry is witnessing a surge in the production of special vehicles like passenger cars, trucks, buses, electric, and driverless cars to meet growing customer demands. Technological advancements in vehicle design, manufacturing processes, safety features, and the rise of environmentally friendly options such as electric and hybrid vehicles are driving business growth in the automotive sector. These innovations cater to diverse customer preferences, contributing to industry expansion.

Integration of technology, including connected cars and autonomous driving systems, is reshaping the automotive landscape, offering enhanced driving experiences and safety features.

Economic factors such as consumer income levels and overall economic health are significant drivers of automotive industry growth. Strong economic conditions typically lead to increased vehicle purchases, stimulating market demand.

Complex supply chains and a wide array of trucking equipment further fuel industry growth, while government regulations and safety standards incentivize research and development efforts, presenting growth opportunities for companies producing safety-related products.

However, regulatory compliance requirements pose challenges for manufacturers, necessitating investments in technology and processes to ensure adherence. Compliance with emissions regulations, waste management protocols, and energy efficiency standards can increase production costs but also foster innovation and environmental responsibility.

Managing the burden of collecting and reporting environmental compliance data affects productivity, especially for international businesses navigating varied international regulations. Yet, these challenges also present opportunities for innovation and differentiation, allowing companies to emerge as leaders in a sustainable world.

The COVID-19 pandemic significantly impacted the automotive industry, leading to job cuts, production halts, supply chain disruptions, labor shortages, and reduced consumer demand. Auto service centers and tire shops also experienced decreased maintenance and replacement work, further dampening product demand in these sectors.

Automation and robotics have become indispensable in the automotive industry, enhancing the efficiency, accuracy, and safety of tire handling and retreading processes. Automated technologies such as automatic transmissions and wheel balancing and assembly machines have significantly reduced the physical labor required for these tasks. Robotic arms and machines adeptly handle heavy tires and wheels with precision, ensuring optimal tire balancing while safeguarding technicians. This automation model boosts service speed and consistency, bridging the skills gap by enabling less experienced professionals to execute complex tasks more efficiently. Additionally, automation and robotics facilitate remote monitoring and control, streamlining maintenance processes and minimizing downtime.

For Instance,

  • In June 2023, RoboTire introduced a tire changer equipped with Zivid's robot-mounted 3D vision technology, enabling robots to handle tires, rims, and cars. The Zivid 2 3D camera mounted on the robot captures scenes with remarkable clarity and depth, while RoboTire's advanced artificial intelligence algorithms render the system independent and adaptable to any vehicle it encounters.

Advancements in the automotive industry, particularly the emergence of electric and automated driving technologies, underscore the importance of wheel assemblies. Performance, safety, and energy efficiency are critical considerations in the development of specialized vehicles, intensifying the demand for advanced racing wheel technology. Safety concerns drive investments in advanced wheel alignment equipment by transportation service providers, ensuring vehicles are maintained in optimal condition to enhance road safety.

Segmentation by end-users includes repair shops, tire service centers, motorcycle repair shops, and OEM suppliers. Automotive OEMs hold a significant market share, accounting for over 31% in 2022. Their close relationships with automakers grant them access to cutting-edge tools and specific instructions, positioning them as industry leaders. Automotive OEMs serve as early adopters of tire equipment, ensuring they provide top-notch service and professional support to customers. Dealerships, functioning as one-stop shops for vehicle sales, service, and maintenance, enjoy a loyal customer base that relies on their equipment and expertise for repair and maintenance needs.

North America Tire and Wheel Handling Equipment Market

The North American tire and transportation equipment market is experiencing rapid growth and is projected to reach approximately USD 920 million in revenue by 2022. This growth can be attributed to the presence of numerous automakers, auto service centers, and business owners in the region. The high concentration of these entities has led to a significant demand for tire and wheel handling equipment, driven by the need for advanced automotive repair and maintenance services.

Tire and Wheel Handling Equipment Market NA, EU, APAC, LA, MEA Share, 2023

The automotive culture in North America is characterized by a strong reliance on personal automobiles and frequent long-distance journeys. As a result, there is a substantial demand for tire services and accessories to ensure the smooth functioning and safety of vehicles on the roads.

Tire and Wheel Handling Equipment Market Companies

Tire and Wheel Handling Equipment Market Share

The major enterprises dominating the competitive landscape of the tire and wheel handling equipment industry include:

  • Hunter Engineering Company
  • Bosch Automotive Service Solutions
  • Corghi
  • Ravaglioli
  • Rotary Lift
  • Hofmann
  • Coats (a Fortive Corporation Brand)
  • Mahle Service Solutions

Bosch Automotive Service Solutions holds the largest market share, primarily attributed to its strong focus on research and development. By prioritizing innovation, Bosch ensures that its equipment remains at the forefront of technological advancements, including automation, digitalization, and environmental solutions. This commitment to innovation gives Bosch a competitive edge, enabling it to offer a comprehensive range of vehicle service solutions to both service centers and original equipment manufacturers (OEMs).

Furthermore, Bosch's extensive global reach and distribution network allow the company to efficiently supply its products to various markets and customers worldwide, further solidifying its position as a leader in the automotive service solutions industry.

Tire and Wheel Handling Equipment Market Recent Developments

  • In July 2023, Michelin announced its acquisition of Camso, a leading provider of off-road tires, tracks, and mobility solutions. This strategic move aims to strengthen Michelin's position in the off-highway market segment, particularly in agricultural and construction machinery. The acquisition aligns with Michelin's long-term vision to diversify its product portfolio and expand its presence in key growth markets.
  • In September 2023, Continental AG finalized the acquisition of Alliance Tire Group (ATG), a global manufacturer of off-highway tires. This acquisition enhances Continental's capabilities in the specialty tire segment, particularly in the agricultural and forestry sectors. By integrating ATG's expertise and product portfolio, Continental aims to offer comprehensive solutions to meet the evolving needs of off-highway vehicle manufacturers and end-users.
  • Bridgestone Corporation announced in October 2023 its acquisition of Firestone Industrial Products (FSIP), a leading manufacturer of air springs for commercial trucks, trailers, and industrial equipment. This strategic acquisition complements Bridgestone's existing portfolio of products and solutions, allowing the company to expand its presence in the commercial vehicle segment and strengthen its position as a provider of innovative mobility solutions.
  • Goodyear Tire & Rubber Company revealed in November 2023 its acquisition of Titan International, Inc., a manufacturer of wheels, tires, and undercarriage systems for off-highway vehicles. This acquisition enhances Goodyear's capabilities in the agricultural, construction, and mining sectors, providing the company with a broader product offering and strengthening its position in key markets globally.

Tire and Wheel Handling Equipment Market Segmentations:

By Equipment Type

  • Wheel Balancer
  • Tire Changer
  • Tire Inflator
  • Wheel Alignment Systems
  • Lifting Equipment

By Vehicle Type

  • Two Wheelers
  • Passenger Vehicle
  • Mid-size & Compact
  • Luxury & Premium
  • SUVs
  • Commercial Vehicle
  • LCV
  • HCV
  • Coaches & Buses

By End User

  • Automotive Repair Shops
  • Tire Service Centers
  • Motorcycle Repair Shops
  • Automotive OEM Dealerships

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
  • Middle-East and Africa
    • South Africa
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About The Author

Dr. Arjun Patel is a distinguished expert in the automotive industry, holding advanced degrees in Automotive Engineering and Mechanical Engineering. His expertise spans automotive market dynamics, technological advancements, and sustainable practices. Dr. Patel excels in conducting in depth research and analysis on market trends, consumer preferences, and the economic implications within the automotive sector. He is renowned for his insightful publications on topics such as electric vehicles, autonomous driving technologies, and the evolution of sustainable transportation solutions. Dr. Patels research contributions have significantly advanced understanding in the field, earning him recognition as a leading authority in automotive research and analysis.

FAQ's

Tire and wheel handling equipment isnt limited to automotive applications; it also serves specialized industries like aerospace, agriculture, and construction. These sectors often require handling solutions tailored to their specific tire and wheel sizes, shapes, and materials. Challenges such as heavy-duty applications, oversized tire handling, and unique terrain conditions drive the need for customized equipment to ensure efficient and safe handling operations.

With the rise of electric vehicles (EVs), tire and wheel handling equipment plays a crucial role in accommodating the handling of heavier and larger battery packs, which affect vehicle weight distribution and tire specifications. Furthermore, specialized equipment may be required to handle unique tire and wheel configurations specific to EVs. Equipment compatibility with EV assembly processes, including considerations for battery handling and vehicle integration, is essential to support the production of electric vehicles efficiently and safely.

Tire and wheel handling equipment plays a vital role in just-in-time (JIT) manufacturing and lean production by enabling efficient and precise handling of tires and wheels according to production schedules. JIT principles emphasize minimizing inventory and reducing waste by synchronizing production processes with demand. Tire and wheel handling equipment helps optimize production efficiency, minimize inventory holding costs, and reduce waste through streamlined handling operations and precise material flow control.

Advancements in tire and wheel handling equipment address the challenges of globalization and supply chain complexities by offering solutions that are flexible, scalable, and adaptable to diverse production environments and international regulatory standards. Modern equipment designs incorporate modular and customizable features that enable quick reconfiguration for different tire sizes, production volumes, and manufacturing processes. Additionally, compliance with international standards ensures seamless integration into global supply chains and facilitates regulatory compliance across various markets.

The future prospects for tire and wheel handling equipment in emerging markets are promising, with opportunities for technological innovation, market expansion, and collaboration with local industry players. As emerging markets undergo rapid industrialization and infrastructure development, there is a growing demand for advanced handling solutions to support expanding manufacturing sectors, automotive production, and construction activities. Collaborative efforts between international equipment manufacturers and local partners can help address unique challenges and capitalize on growth potential in these dynamic and evolving markets.

Martins Industries, Link Engineering Company, K-Line Industries, Ace Ventura Industries, Camso and Solideal, The Raymond Corporation, PneuMax, Tiromatic.

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