CCD Wheel Aligners Market to Reach USD 5.7 billion by 2032 - Exclusive Research by Fact.MR

NEW YORK, Jan. 19, 2022 /PRNewswire/ -- Fact.MR – A Market Research and Competitive Intelligence Provider: The global CCD wheel aligners market is predicted to be worth USD 3.6 billion in 2022, rising to USD 5.7 billion by 2032, with a CAGR of 4.7% between 2022 and 2032.

Growing awareness about the wheel alignment is generating demand for CCD wheel aligners. Wheel aligners, which provide a speedier alignment with a high level of accuracy, are becoming more popular among auto manufacturers and garages. During the projection years of 2022-2032, this is predicted to increase market demand by 2.1X.

Bad road conditions have a negative impact on the wheel arrangement in cars and other heavy vehicles. As a result, it becomes critical for the vehicle's operator to have proper wheel alignment in order to maintain effective control over the vehicle's steering in order to avoid road accidents.

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As a result, the usage of wheel aligners has become increasingly crucial, owing to an increase in the number of road accidents caused by misaligned wheels. During the forecast period of 2022-2032, this is estimated to result in a 230 BPS increase in the CCD wheel aligners market.

Wheel aligners with a high level of accuracy are essential for maintaining overall vehicle health and, as a result, preventing vehicle breakdowns. As a result, modern CCD wheel aligners have been produced, which use technologies such as charge-coupled devices (CCD) in wheel alignment machines to overcome all of the restrictions of traditional wheel aligners. In the future years, this is expected to increase market demand by nearly a quarter, or 25%, of current levels.

The CCD wheel aligners market is dominated by Europe, which accounts for 23.4% of total market share. This is due to the fact that this region has a larger penetration of wheel alignment equipment than other regions. The increase is mostly due to the increased usage of 6 camera CCD wheel aligners as a widely acknowledged advanced technology that is rapidly embraced due to their low cost, resulting in larger revenues for producers in the coming years.

Key Takeaways:

• Europe region for CCD wheel aligners is projected to grow at a CAGR of 5.1% during 2022-2032.
• Asia-Pacific CCD wheel aligners market is expected to grow at a CAGR of 4.1%.
• By product type, 6 camera CCD wheel aligners currently holds 51.9% of the CCD wheel aligners market share.
• By application, auto manufacturers segment holds more than 1/3rd i.e. 37.6% of the overall market share.

Growth Drivers:

• Wheel aligners, which provide a faster alignment with a high level of accuracy, are becoming more popular among auto manufacturers and garages, thus driving the demand for CCD wheel aligners.
• Rising cases of road accidents caused by misalignment of wheels and introduction of multiple wheel technologies to spur the market growth.

Key Restraints:

• The scarcity of skilled labor to operate CCD wheel alignment machines is generating challenges and limiting product sales.

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Competitive Landscape

Due to the presence of numerous local and regional companies, the global CCD wheel aligners market is extremely fragmented and competitive. Key players use a variety of marketing strategies, including mergers & acquisitions, expansions, collaborations, and partnerships.

Leading companies also use new product creation as a strategic way to expand their market presence among consumers. Advanced CCD wheel aligners have been incorporated as a result of these efforts.

For instance,

• Technovector has just released a contactless wheel alignment system that features automatic vehicle detection and adaptive towers that can assess a wide range of wheelbases. WideScope technology is used in their machine-vision wheel aligners for heavy-duty trucks, which allows for quick angle checks and adjustments.

Key Players in the CCD Wheel Aligners Market are

• Stanley
• Milwaukee Hand Trucks
• Dewalt
• Apex Tool Group
• Blackhawk Industries
• Cooper Tools
• Masko Tech Engineers
• Actia Group
• Shenzhen 3Excel Tech Co. Ltd.
• Bosch Automotive Service Solutions Inc.
• Snap-On Incorporated

More Valuable Insights on CCD Wheel Aligners Market

Fact.MR provides an unbiased analysis of the CCD wheel aligners market, presenting forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global CCD wheel aligners market with a detailed segmentation on the basis of:

• By Product Type :
• 6-Camera
• 8-Camera
• By Vehicle Type :
• Road Vehicles
• Off-Road Vehicles
• By Application :
• Garage
• Auto Manufacturers
• Tire Manufacturers
• By Region :
• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• MEA

Key Questions Covered in CCD Wheel Aligners Market Report

• The report offers insight into the CCD wheel aligners market demand outlook for 2022-2032.
• The market study also highlights projected sales growth for CCD wheel aligners market between 2022 and 2032.
• CCD wheel aligners market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
• CCD wheel aligners market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.

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