The Global Frame Alignment Systems Market is projected to reach US$ 836.5 Million in 2033. The rise in the number of vehicles on road and their maintenance activities in the automotive aftermarket across the globe is driving the demand for Frame Alignment Systems.
According to FMI, the Global Frame Alignment Systems Market is estimated to be valued at US$ 458.4 Million in 2023 and is projected to increase at a CAGR of 6.20% in the forecast period from 2023 to 2033.
| Attributes | Details |
|---|---|
| Market Size (2022) | US$ 435.7 Million |
| Market Size 2023 | US$ 458.4 Million |
| Market Size 2033 | US$ 836.5 Million |
| Value CAGR (2023 to 2033) | 6.20% |
A frame alignment system is necessary for straightening, correcting, and aligning the vehicle's chassis after accidents or significant design changes. OEMs and auto repair shops/garages are some of the clients. It entails two essential procedures, namely, Frame Measurement, in which the dimensions of the frame are measured and then evaluated by a laser-guided system for the necessary frame structure, and Frame Alignment, in which the final alignment of the chassis parts and the overall frame is carried out to allow proper maneuvering and mobility of the vehicle.
The demand for maintenance, repair, and restoration services in the automotive aftermarket is projected to increase, which would benefit the frame alignment system market globally. The market for frame alignment systems is also predicted to grow as major original equipment manufacturers embrace portable and wireless frame alignment systems to improve alignment operational efficiency for vehicles. Also, demand for the vehicle’s frame straightening and aligning the chassis which is unaligned due to accidents will enhance the market for frame alignment globally.
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The analysis of Frame Alignment Systems demand from 2018 to 2022 showed a historical growth rate of 0.60% CAGR. The key driver propelling the growth of the Frame Alignment Systems market throughout the historic period was the strong demand for correcting and aligning the chassis of a vehicle that is due for servicing. Also, demand for premium and luxury vehicles, including Passenger vehicles, SUVs, and electrical vehicles on a global scale fueled the market growth.
The frame alignment system production facility and automotive manufacturing sectors were both severely damaged by the coronavirus epidemic due to the COVID crisis's impact on the world economy. Due to the severe lack of raw materials needed to produce vehicles and their components, the industry which produced automobiles had been shut down. A disruption in the supply chain network has also severely restricted the market. However, at the beginning of 2022, with a declining trend in virus infection, rising support for green mobility, and growing concerns about vehicle safety, the market for frame alignment systems is anticipated to rise steadily over the projected period.
Rising safety concerns for vehicles and vehicle production are predicted to boost the growth of the global market for frame alignment systems. Additionally, growing economic development, improved consumer living standards, and increased purchasing power have all contributed to an increase in demand for luxury cars, large vehicles, and passenger cars, which is eventually fueling the expansion of the frame alignment systems market.
The rising worldwide number of vehicles is one of the major drivers boosting the automotive frame alignment system market. Vehicle life expectancy has recently surpassed 12 years on average. This increased lifespan is due to the exceptional durability of modern cars. Modern cars are built more rigidly, have an everlasting, and highly robust engine, and go through regular maintenance. Vehicle lifespans are growing as a result of this. As a result, there is an increase in demand for vehicle repair and maintenance services worldwide. Additionally, two-wheelers, sport bikes, trucks, commercial vehicles, and sports-utility vehicles (SUVs), as well as multipurpose vehicles (MPVs), are popular within the worldwide automotive market. To function properly, these vehicles require regular maintenance. Additionally, the customer uses these vehicles for longer periods, which increases the need for preventive maintenance services on crucial automotive parts like wheels, tires, and suspension. This factor fuels the global market of the frame alignment system.
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Millions of people die in road accidents each year on a global scale, and the majority of them suffer severe injuries or disabilities. Due to this, government officials and automakers are now obligated to adhere to stringent guidelines and norms for the manufacturing of safe vehicles. By industry safety regulations, manufacturers are mandated to check the alignment of newly manufactured vehicles. This is done by a frame alignment system, in which a frame alignment machine is used to straighten the frame. The suspension and mechanical parts are properly aligned. The car will be much safer to drive once this structural modification by frame alignment system has been made. Thus, government norms for the automotive industry for safe vehicle production will produce a growth opportunity for the frame alignment system market.
The growing adoption of e-bikes on a global scale is also driving the frame alignment system market. Similarly, developing countries are getting more industrialized and urbanized, and industries like e-commerce, trade, and the food industry are also expanding. These industries require both heavy and light commercial trucks as a transportation solution on a large scale, which will increase vehicle sales and lead to the expansion of the targeted market.
Geographically, in terms of frame alignment system sales, amongst all regions which are sub-segmented in the global market, North America and East Asia are the top regions and collectively account for a sizable portion of the global Fire Pump market in 2021.
The markets of frame alignment systems in the Asia Pacific are also exceptionally profitable for frame alignment system manufacturers. This is mainly because of China, India, and Japan's sizable automotive industries. Analysis shows that 60% of the world's population resides in the Asia-Pacific region. When taking into account population size, countries like China and India are the ones in the region with the fastest increasing populations. As this growing population necessitates efficient mobility, thus automotive industry in the region also increases. A high level of production and sales of passenger cars, light commercial vehicles, and heavy commercial vehicles are being generated in this region by some of the most well-known auto manufacturing companies in the world. This factor increases the prominent sales of frame alignment systems in the region.
Similarly, the market for frame alignment systems in North America has grown to be the greatest revenue contributor after the Asia Pacific. In this region, the market revenue is growing as a result of the rising demand for a sport bike, luxurious passenger cars, SUVs, and commercial vehicles for businesses. Additionally, the development and adoption of E-bikes and vehicles in the region are also fueling the demand for frame alignment, which is driving the frame alignment system market in the region. Additionally, the United States ranks among the countries with the greatest rate of fatal traffic accidents per million population. The vehicles involved in these incidents are then going through a frame alignment system to align the frame and chassis of vehicles. Also, To Create safe vehicles government authorities has forced to adhere to strict laws and regulations in the automotive industry. This will be benefitted the growth of the targeted market.
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Key players operating in the Global Frame Alignment Systems Market include Josam Products Inc., Bee Line, Henry James Bicycles, Booth Concepts Inc., Blackhawk, Pro Line Systems International Inc., Chassis alignment Ltd., Scheibner Messentik, Chief Automotive Technologies, etc.
The Market for Frame Alignment Systems is Moderately Fragmented on a Global Scale. The leading corporations hold greater than 30% to 50% of the market share. The market for Frame Alignment Systems is expected to grow as a result of companies collaborating and acquiring competitors to expand their corporate operations and foreign direct investment.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.20% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, Vehicle Type, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; The Middle East and Africa (MEA) |
| Key Countries Covered | The USA, Canada, Mexico, Brazil, Germany, The UK, France, BENELUX, Italy, Spain, Russia ,China, Japan, India, Turkey, South Africa, Northern Africa, GCC Countries, Australia |
| Key Companies Profiled | Josam Products Inc.; Bee Line; Henry James Bicycles; Booth Concepts Inc.; Blackhawk; Pro Line Systems International Inc.; Chassis alignment Ltd.; Scheibner Messentik; Chief Automotive Technologies |
| Customization & Pricing | Available upon Request |
In 2022, the value of the Global Frame Alignment Systems Market reached over US$ 435.7 Million.
During the forecast period, the Global Frame Alignment Systems Market is estimated to expand at a CAGR of 6.20% from 2023 to 2033.
The Global Frame Alignment Systems Market is projected to reach US$ 836.5 Million by the end of 2033.
Europe and North America are projected to lead the Global Frame Alignment Systems Market in the forecast period.
The key players operating in the Global Frame Alignment Systems Market are Josam Products Inc., Bee Line, Henry James Bicycles, Booth Concepts Inc., Blackhawk, Pro Line Systems International Inc., Chassis alignment Ltd., Scheibner Messentik, Chief Automotive Technologies, etc.
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