Automobile Balance BlockThe Demand Market Is Relatively Broad, Mainly Including The Following Aspects:
New Car Manufacturing Market: Global Automobile Production And Sales Continue To Grow, Especially In Emerging Market Countries Such As China, India, Brazil, Where The Automobile Industry Is Developing Rapidly. In Order To Ensure The Dynamic Balance Of New Car Wheels And Improve The Stability, Safety, And Comfort Of Vehicle Operation, Car Manufacturers Require The Installation Of Balance Weights On Each Wheel During The Production And Assembly Process, Which Provides A Stable Market Demand For Car Balance Weights. Data Shows That The Global Market Sales Of Automotive Wheel Balance Blocks Reached 680 Million US Dollars In 2023, And Are Expected To Reach 996 Million US Dollars By 2030, With A Compound Annual Growth Rate (CAGR) Of 5.68% (2024-2030).
The Automobile After-sales Maintenance Market: The Continuous Increase In The Number Of Automobiles Has Led To A Huge Scale Of The Automobile After-sales Maintenance Market. During The Use Of Vehicles, Due To Tire Wear, Replacement, Or Detachment Of Balance Weights, It Is Necessary To Regularly Perform Dynamic Balance Checks And Adjustments On The Wheels, Which Requires Replacement Or Supplementation Of Balance Weights. Moreover, Consumers' Increasing Emphasis On Vehicle Driving Stability And Safety Has Made Regular Maintenance And Replacement Of Wheel Balance Weights A Routine Operation, Further Driving The Demand For Automotive Balance Weights In The After-sales Market.
Special Vehicles And High-end Automobile Market: For Some Special Vehicles, Such As Racing Cars, High-performance Sports Cars, And High-end Luxury Cars, The Performance And Safety Requirements Of The Vehicles Are Extremely High, And The Balance Accuracy Of The Wheels Is Also More Stringent. High Precision And High-quality Balance Weights Are Often Required, And These Markets Have Higher Requirements For The Quality And Performance Of Balance Weights, With Relatively High Product Added Value.
The New Energy Vehicle Market: The Development Of New Energy Vehicles Has Brought New Market Demands. Due To Factors Such As Heavy Battery Weight, The Demand For Wheel Balance Blocks Is Equally Important For New Energy Vehicles, And Even Requires Wheel Balance Blocks To Be Lighter And More High-performance To Meet The Requirements Of New Energy Vehicles For Range And Vehicle Performance.
