Cars play an integral role in our daily lives. Without a car, most people would not be able to carry out their daily routine. From getting to work, to buying groceries, U.S. citizens rely on their vehicles. Even residents of big cities with public transportation still rely on their cars to get from point A to point B.
As a wheel and rim repair business, it is important to keep up with the trends in your industry. As the auto repair industry as a whole continues to grow, so does the wheel and rim repair segment. The wheel rim market is expected to see continued growth in the period between 2023 and 2031. Steady growth in the wheel and rim market is attributed to manufacturing trends as well as consumer behavior trends.
Staying consistent with industry trends is a research-driven approach to growing your business. Below are some of the most common wheel and rim repair industry trends for 2023.
Manufacturing Trends
Increased Environmental Initiatives
As the concern for a green approach to manufacturing rises, reel and rim manufacturers play their role. In the past few years, we have seen a shift toward lightweight rim materials. Not only do these products require less material to produce, but they improve a vehicle’s gas mileage. This helps reduce the amount of pollution and waste. In the coming years, we are expecting to see the rising adoption of lightweight rim and wheel materials.
In addition to the shift towards lightweight wheels and rims, consumers are more interested in specialty tires. Customer demands for premium tires designed for fuel efficiency and high performance are driving the tire market. Not only are specialized tires more expensive, but they often require more frequent replacement which can help drive your profits.
By keeping these materials on hand, you can demonstrate your ability to meet demands while earning more.
Research & Development
Prominent players in the global wheel rim market could invest heavily in research and development to meet consumer demands. This includes research to produce lightweight wheels as mentioned above but also improved quality wheels. Additionally, the ability of wheel rims to protect tires from external damage is also expected to drive demand.
A Shift Towards Quality Materials
Vehicle owners are more interested in maintaining their cars and investing in quality products to improve the longevity of their vehicles. Better quality rims that provide for better gas mileage are right on par with consumer demand.
Consumer Behavior Trends
Online Car Buying
Car buying habits have adapted to the modern world and customers demand modern vehicles. We have seen a shift toward online car buying which is likely to continue in the coming years. The vast majority of consumers research vehicles online before shopping in person, or decide to make a purchase fully online. The ability to make an automotive purchase online makes the car buying process much more efficient.
A Shift Toward Modern Features
More and more cars on the road are equipped with special tech features. This includes back-in cameras, blind spot detection, and safety features to alert the driver if they are close to hitting something. Additionally, with the rise of 5G and IoT, vehicles are becoming more connected. This includes integrations with Android, Apple, and even data collected through Google AI. With these features available, most consumers demand a modern vehicle with features for safety and connectivity.
Vehicles Are Getting Older
Though there is a continued rise in the demand for modern technology features, vehicle owners are also keeping their cars longer. This means car owners are placing a higher priority on vehicle maintenance. As wheels play a vital role in the vehicle’s ability to function, these consumer trends directly benefit your business.
Increase in Miles Traveled
As cars on the road are getting older, the average miles traveled is also increasing. As consumers drive their vehicles more frequently, and for longer distances, they are required to replace their tires more frequently.
Auto Repair Business Trends
As changes occur both in manufacturing trends and consumer behavior, they also take place in automotive businesses. Repair shops have gravitated away from paper estimates and invoices, and toward a more modern approach. The best thing you can do for your business in 2023 is to optimize workflow for faster, more professional service.
With the leading automotive industry app, you can improve repair times, and customer relationships, and earn more revenue. The app has everything you need for building estimates, scheduling technicians, and accepting payment. It even has a built-in customer relationship management (CRM) tool to help you keep track of customers. As consumers are keeping their vehicles for longer and require more frequent servicing, this can help your business drastically.
Try the app for free to see how you can start growing your business with the click of a button.