Tire and Wheel Handling Equipment Market - By Equipment Type (Wheel Balancer, Tire Changer, Tire Inflator, Wheel Alignment Systems, Lifting Equipment), By Vehicle Type (Two Wheelers, Passenger Vehicle, Commercial Vehicle), By End User, Forecast 2023 - 203

Tire and Wheel Handling Equipment Market - By Equipment Type (Wheel Balancer, Tire Changer, Tire Inflator, Wheel Alignment Systems, Lifting Equipment), By Vehicle Type (Two Wheelers, Passenger Vehicle, Commercial Vehicle), By End User, Forecast 2023 - 2032

Tire and Wheel Handling Equipment Market size is predicted to expand at more than 4% during 2023 and 2032 due to the increasing adoption of automation in manufacturing processes, the surge in demand for electric vehicles (EVs), and a growing emphasis on workplace safety. According to the Global EV Outlook 2023, electric car sales exceeded 10 million in 2022, accounting for nearly 14% of new cars sold.

Manufacturers are focusing on integrating smart technologies, such as IoT and AI, into their equipment to enhance productivity and reduce manual intervention. Additionally, the rise in consumer awareness regarding the importance of regular tire maintenance is boosting the demand for specialized handling equipment, creating a positive trajectory for market expansion.

The tire and wheel handling equipment market is classified based on equipment type, vehicle type, end-user, and region.

The tire inflator segment is anticipated to grow substantially through 2032 due to advancements in technology. As manufacturers introduce innovative solutions that offer accurate and efficient tire inflation, the demand for these inflators is on the rise. With the increasing complexity of modern vehicle tires and the importance of precise pressure maintenance for optimal performance and fuel efficiency, tire inflators are set to experience robust demand in the coming years.

The automotive repair shop segment will generate massive revenues for the market by 2032. As the number of vehicles on the road continues to grow, automotive repair shops are experiencing higher footfall. These facilities are increasingly investing in state-of-the-art tire and wheel handling equipment to streamline their operations, reduce turnaround times, and enhance customer satisfaction. The integration of advanced equipment in automotive repair shops will push the segment share.

Asia Pacific tire and wheel handling equipment industry is expected to record a strong CAGR from 2023 to 2032. Rapid industrialization, increasing disposable income, and a burgeoning automotive sector in countries like China and India are driving the demand for advanced handling equipment. The presence of leading automotive manufacturers in the region further fuels the need for efficient and technologically advanced solutions, presenting lucrative opportunities for market players in the region.