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The global automotive garage equipment market is anticipated to garner a CAGR of 4.22% during the forecast period (2019-2025), Market Research Future (MRFR) unveils in a detailed report.The global automotive garage equipment market has witnessed a tectonic surge over the past few years. The advent of gas tester and diagnostic programs by several automotive garage equipment manufacturers to meet the requirements of modern garages, like fast vehicle identification, reliable fault diagnoses, and comprehensive data are estimated to propel the automotive garage equipment market growth in the foreseeable future. Strict government mandates, along with the surging demand to control the increasing level of exhaust emissions by removing diesel particulate traps, are expected to augment the market growth globally.
The surging sales of vehicles, along with rising urbanization, are driving the automotive garage equipment market to a large extent. The growth of the market is further credited to the current boom in the automotive sector. The rising awareness regarding vehicle safety and vehicle maintenance among owners are likely to drive the market growth during the review period. Moreover, the growing preference for vehicle customization, coupled with the growing number of technical inspection centers, vehicle maintenance & repair garages, and body shops are estimated to propel its growth.
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Global Automotive Garage Equipment Market: Segmental Analysis
The automotive garage equipment market is segmented on the basis of vehicle type, equipment type, and garage type.
By equipment type, the automotive garage equipment market is segmented into lifting equipment, wheel & tire service equipment, body shop equipment, vehicle diagnostic & testing equipment, washing equipment, and other tools. Of these, the wheel & tire service equipment segment is predicted to dominate due to the substantial demand for wheel balancing equipment and wheel alignment systems.
By vehicle type, the automotive garage equipment market is segmented into passenger cars and commercial vehicles. Of these, the passenger cars segment is predicted to acquire the largest share due to its long lifespan and large fleet size.
By garage type, the automotive garage equipment market is segmented into franchised garages, automotive OEM dealerships, and independent garages. The advent of reliable and advanced service solutions and vehicle maintenance in OEM dealerships and franchised garages are predicted to propel the market growth in the long run.
Regional Frontiers
Geographically, the automotive garage equipment market spans across Europe, North America, Asia Pacific, and the Rest of the World (RoW).
Considering the global scenario, Asia Pacific is predicted to dominate the automotive garage equipment market, due to the surging sale of commercial vehicles and new cars across India, China, and other ASEAN nations. The significant number of vehicle fleets in the region is likely to trigger the demand from the automotive garage equipment market in the foreseeable future. The consistent increase in the demand for passenger vehicles due to stable economic conditions, rapid urbanization, and relatively lower interest rates are likely to boost the demand from the automotive garage equipment market. The APAC has become a hub for automobile production. The rising purchasing power of consumers has augmented the demand for automobiles in the region. Moreover, cost advantages for OEMs, rising vehicle production, and low penetration of automobiles offer attractive opportunities for automotive component suppliers and manufacturers. The availability of cheap labor, coupled with the low cost of production, has resulted in OEMs to launch production plan. The region is also home to prominent suppliers of automotive test equipment like Autel (China), Horiba (Japan), and Sinfonia (Japan). Such factors offering the market a thrust.
Industry Updates
June 2019: ALLDATA Europe GmbH has recently signed an agreement with Honda Motor Europe Ltd. to republish Honda maintenance and repair information for cars. ALLDATA delivers the most comprehensive source of manufacturer repair instructions, procedures, and diagrams to the independent aftermarket.
Competitive Dashboard
The players operating in the global automotive garage equipment market include Continental AG (Germany), Robert Bosch GmbH (Germany), Aro Equipments Pvt. Ltd (India), Istobal S.A. (US), Nussbaum Automotive Solutions Lp (US), Guangzhou Jingjia Auto Equipment Co., Ltd (China), Arex Test Systems B.V. (Netherlands), Boston Garage Equipment Ltd (UK), Gray Manufacturing Company, Inc. (US), Vehicle Service Group (US), MAHA Mechanical Engineering Haldenwang GmbH & Co. KG (Germany), and VisiCon Automatisierungstechnik GmbH (Germany).
values and pricing and cost analysis.
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