Global Automotive Garage Equipment Market: Industry Analysis and forecast (2019 to 2026)

by Ram Vasekar on Dec 23, 2020 Article Marketing 23 Views

Global Automotive Garage Equipment Market was valued USD XX Bn in 2018 and is expected to reach US$ 9.90 Bn by 2026, at CAGR of XX% during forecast period of 2019 to 2026.

Global Automotive Garage Equipment Market

The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.

Global Automotive Garage Equipment Market Drivers and Restrains:
Vehicles play an important role in daily life therefore, in order to keep them in good condition and regular maintenance becomes highly necessary. Various equipment are vital for vehicle maintenance, such as tire changer, wheel balancer, emission equipment, and lifting equipment. There have been continuous changes in the automotive sector, such as adoption of airbags for safety purpose, lightweight engine for higher fuel efficiency, and use of electronics for a more comfortable ride. Advanced equipment are required to maintain these components, which drive the demand for garage equipment.

 

Government Authorities implement strict emission norms are driving the market of emission-related equipment, such as smoke meter, gas analyzer, and others. Digitalization of automotive systems is increasing at a significant pace, which requires diagnostic tools for analyzing and repairing systems i.e., advanced driver assistance system (ADAS), instrument console of the vehicle, and functionality of the sensors and digital locks. Garages are likely to require enhanced capacity for fabrication of vehicles owing to the rising concern about vehicle maintenance and modification will propel the market growth.

The higher cost related to the maintenance and repair of some vehicles that may restraining factor of the automotive garage equipment market. Growing trend of DIY equipment, rising sales of electric vehicles that require less replacement parts, lack of skilled workforce to handle advanced and complex garage equipment and rising replacement and maintenance costs have challenges to the market growth. Increasing diffusion of OEM authorization and up gradation of the existing independent garages is anticipated to offer lucrative opportunities to the players in the market.

 

Manufacturers in the automotive garage equipment are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.

Global Automotive Garage Equipment Market Segmentation Analysis:
Based on the application, the automotive garage equipment market is segmented into Body Shop Equipment, Diagnostic & Testing Equipment, Emission Equipment, Lifting Equipment, Washing Equipment, and Wheel & Tire Equipment. The emission equipment segment is expected to grow at the highest CAGR of XX% in the upcoming period. Common emission equipment contains exhaust gas analyzers, diesel smoke meters, and emission testers. This equipment used to measures various pollutants like carbon monoxide, carbon dioxide, and nitrogen oxides. Such toxic compounds present in combustion gases harm the health conditions of people living in urban areas. Long term exposure to pollutant gases can even lead to permanent health deteriorations. The existing vehicles now periodically go through emission testing to comply with the latest emission standards of the respective countries due to the availability of emission equipment.

 

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Based on the garage type, the automotive garage equipment market is segmented into OEM authorized garage, Independent garage. The independent garage is expected to grow at the largest CAGR of XX% during the forecast period. Post-warranty, the majority of the car owners approach independent garages due to inexpensive labor cost in these garages. Usage of authorized products and affordable labor costs made independent garages, a preferred option for preventive maintenance such as routine repairs, oil check-ups, and others. Furthermore, the car owners are getting their cars serviced from independent garages due to the increasing repair and maintenance cost in the OEM authorized garages. Such trends will derive the demand for garage equipment for independent garages.

Global Automotive Garage Equipment Market Regional Analysis:
The North American lead the automotive garage equipment market in 2018 owing to the most advanced automotive industry. The automotive industry in the U.S. is prone towards innovation, technology, and development of high-performance and fuel-efficient vehicles. The advancements in sensors and IoT devices had led the OEMs to implement advanced features. The country is projected to show a major role in the growth of autonomous vehicles in the U.S. Similarly, commercial vehicle sales increased by 6.9% in 2018. The rising logistic demand and innovation from American OEMs will influence the demand for automotive garage equipment. The large customer base and high disposable income levels in the country have fuelled the demand for premium connected vehicles, would boost the market for garage equipment in the upcoming period.

A report covers the recent development in market for automotive garage equipment market i.e., February 2019, Continental Introduced TPMS GO, an entry-level service tool for tire pressure monitoring systems (TPMS). According to the company, this new device would be practical, rugged, and economical as workshop equipment. In July 2019, John Bean launched a new swing arm tire changer called John Bean T2545T. It would be perfect for handling passenger cars and light trucks due to its compact design, easy, and quick set up.

The objective of the report is to present comprehensive analysis of global automotive garage equipment market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding global automotive garage equipment market dynamics, structure by analyzing the market segments, and project the global automotive garage equipment market size. Clear representation of competitive analysis of key players by vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the global automotive garage equipment market make the report investor’s guide.

 

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Scope of the Global Automotive Garage Equipment Market:

Global Automotive Garage Equipment Market, by Garage Type:

• OEM authorized garage
• Independent garage
Global Automotive Garage Equipment Market, by Vehicle Type:

• Passenger Vehicle
• Commercial Vehicle
Global Automotive Garage Equipment Market, by Application:

• Body Shop Equipment
• Diagnostic & Testing Equipment
• Emission Equipment
• Lifting Equipment
• Washing Equipment
• Wheel & Tire Equipment
Global Automotive Garage Equipment Market, by Region:

• Asia Pacific
• North America
• Europe
• Latin America
• Middle East Africa
Global Automotive Garage Equipment Market, Major Players:

• Dover Corporation
• Continental AG
• Robert Bosch GmbH
• Snap-On Incorporated
• Fortive Corporation
• Cemb S.P.A
• Boston Garage Equipment Ltd.
• Aro Equipments Pvt. Ltd
• Arex Test Systems B.V.
• Gray Manufacturing Company
• Guangzhou Jingjia Auto Equipment Co. Ltd
• Maha Maschinenbau Haldenwang GmbH & Co
• Beissbarth Automotive Service Equipment
• Sarveshwari Engineers
• Oil Lube Systems Pvt Ltd
• Manatec Electronics Private Limited
• Istobal
• Straightset
• V-Tech
• Corghi
• Hunter Engineering Company
• National Auto Tools
• Twin Busch Lp
• Mohawk Lifts
• Standard Tools and Equipment Co

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