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Tire Changing Machines Market Size
- Report ID: GMI7114
- Published Date: Oct 2023
- Report Format: PDF
Tire Changing Machines Market Size
Tire Changing Machines Market was valued at USD 504.1 million in 2022 and is predicted to expand at over 4.5% CAGR from 2023 to 2032. The increasing presence of commercial vehicles worldwide, driven by e-commerce, logistics, and urbanization, significantly fuels the market size of tire changing machines. In 2022, China accounted for a remarkable 80% of global electric bus sales and 85% of electric medium- and heavy-duty truck sales.
The growing popularity of recreational activities such as motorcycling has had a positive impact the market of tire changing machines. As more individuals engage in off-road adventures, road trips, and leisure riding, the demand for motorcycle tires has increased.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Tire Changing Machines Market Size in 2022: | USD 504.1 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 4.5% |
| 2032 Value Projection: | USD 789.0 Million |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 373 |
| Tables, Charts & Figures: | 622 |
| Segments covered: | Machine Type, Vehicle Type, Distribution Channel, End User, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The high initial cost of tire changing machines presents a significant challenge in the market. Purchasing and installing these machines can be a substantial financial investment, especially for small or start-up businesses. The cost of entry deters some potential buyers, limiting market penetration. Additionally, ongoing maintenance and training expenses add to the overall expenditure. This cost barrier may hinder adoption, particularly for businesses with budget constraints or limited access to financing.
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Tire Changing Machines Market Scope
