According to Cognitive Market Research, The Global Balancing Machine market size is USD 1.9 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 4.90% from 2023 to 2030.
The global balancing machinemarket will expand at a 4.90% CAGR between 2023 and 2030.
The demand for balancing machinemarket is due to the demand for balancing machines is also driven by rapid urbanization and improved public infrastructure.
Demand for automatic balancing machines remains higher in the balancing machine market.
The OEM category held the highest balancing machine market revenue share in 2023.
North America will continue to lead, whereas the Asia Pacific balancing machine market will experience the strongest growth until 2030.
