Truck Wheel-end Maintenance Market: To Experience A Hike In Growth By 2020-2030

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Truck Wheel-end Maintenance: Introduction

  • Truck wheel-end system consists of the hubcap, seal and inboard bearing, spindle nut, and wheel nut. The seal helps maintain the oil or grease in the wheel hub unit, which in turn helps keep the bearing lubricated and protects the bearing from failure.
  •  There are majorly two types of wheel failure; one is bearing failure and other is loss of clamping force on the wheels. Loss of clamping force is due to an improper installation of wheel hub.

Key Drivers of Truck Wheel-end Maintenance Market

  • Rise in demand for vehicle testing and pre-maintenance service of vehicles is likely to boost the truck wheel-end maintenance market across the globe. Wheel-end maintenance increases the life of a tire which provides smoother ride which reduces the fatigue to the driver while driving, which in turn anticipated to boost the truck wheel-end maintenance market across the globe. Rise in demand for connected vehicles across the globe, which provides warning of pre maintenance of wheel-end, is estimated to propel the truck wheel-end maintenance market across the globe. Increase in transportation across the globe where commercial vehicles are significantly used is projected to fuel the truck wheel-end maintenance market across the globe.
  • Major governments across the globe are supporting service providers to provide maintenance services, which is also anticipated to boost the truck wheel-end maintenance market across the globe. Rise in technological advancement including wheel-end monitor, which helps in early detection of damage of wheel bearing, is anticipated to boost the truck wheel-end maintenance market across the globe.

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Europe & Asia Pacific to hold significant share of global truck wheel-end maintenance market

  • Europe is projected to account for a significant share of the global truck wheel-end maintenance market owing to an increase in consumer preference toward wheel-end maintenance across the region. Furthermore, Europe has major presence of vehicle manufacturers, including Volkswagen AG and Daimler AG, which is likely to boost the truck wheel-end maintenance market in the region.
  • Followed by Europe, Asia Pacific is projected to hold a major share of the global truck wheel-end maintenance market due to an increase in light and commercial vehicles sales across the region. Presence of major automotive manufacturing industries across China, India, and Japan, who are investing in maintenance services is anticipated to boost the truck wheel-end maintenance market in Asia Pacific.

Key Players Operating in Truck Wheel-end Maintenance Market

The global truck wheel-end maintenance market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the global truck wheel-end maintenance market are:

  • SKF
  • Hendrickson L.L.C
  • BPW Group
  • TIMKEN Company
  • Gunite
  • Accuride Corporation
  • DANA Incorporated
  • Conmet Inc.
  • CBS Parts Ltd.
  • York Transport Pte Ltd.

Get More Press Release by TMR: https://www.prnewswire.co.uk/news-releases/increasing-popularity-of-indoor-fitness-due-to-covid-19-to-paint-strokes-of-growth-across-turbo-trainer-market-during-tenure-of-2020-2030-tmr-831539271.html

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