The global 3D wheel aligners market plunged into decline due to the outbreak of COVID-19 in 2020. While the automotive industry got battered amidst the pandemic, key players held onto the signs of recovery since the last quarter of 202. The latest edition of the ‘3D wheel aligners’ market study by Fact.MR provides an updated version of the in-depth insights on the market trends and its growth & restraining factors for the forecast period of 2021 to 2031.
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According to Fact.MR, slow yet steady progress of the automotive industry will remain key to the growth of 3D wheel aligner manufacturers, while the focus of stakeholders will be on highly lucrative regions such as North America, Europe, and Asia Pacific. Overall, the market outlook will remain positive, and is projected to expand at a steady pace of close to 5% CAGR through 2031.
Key Takeaways from Study
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Is Demand from Automotive Industry Rising?
3D wheel aligners are highly required in the automotive industry in order to precisely align wheels on all types of cars. They are also capable in helping tires perform properly and allow them to last longer. As a result, suppliers and manufacturers in this industry are depending on the recovery of the automotive industry after getting over the negative impact of the coronavirus pandemic.
Who is Winning in this Space?
The global 3D wheel aligners market is expected to witness steady growth over the coming years, with the competition becoming even tighter for key players. In order to sail through the cut-throat competition, key market players are emphasizing on diversifying their products.
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