Automotive Garage Equipment Industry In-Depth Analysis Report
New York, U.S., May 02, 2022 (GLOBE NEWSWIRE) — Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “automotive garage equipment market“Information by Equipment Type, Vehicle Type, Garage Type and Region – Forecast to 2030” market size is expected to grow at a compound annual growth rate of 4.22% by 2030.
To maintain efficient and proper operation, motor vehicles require periodic maintenance and repairs. Qualified and experienced technical staff providing prompt attention and high quality work, as well as satisfactory repair work at reasonable prices using car tools and automotive tools, helps garages retain their name in a competitive global market. Washing, lubrication, tire and battery services should all be available at a garage where cars are stored and serviced. In a car garage, specialized equipment such as hoists, car lifts, tire inflators, tire changing machines, and wheel balancing machines, as well as various types of devices, tools and jigs, are available.
The Dominant Key Players in the Covered Automotive Garage Equipment Market are:
Robert Bosch GmbH (Germany)
Continental AG (Germany)
Istobal S.A. (USA)
Aro Equipments Pvt. Ltd (India)
Guangzhou Jingjia Auto Equipment Co. Ltd (China)
Nussbaum Automotive Solutions Lp (USA)
Boston Garage Equipment Ltd (UK)
Arex Test Systems BV (Netherlands)
Vehicle Service Group (US)
Gray Manufacturing Company Inc. (USA)
VisiCon Automatisierungstechnik GmbH (Germany)
MAHA Mechanical Engineering Haldenwang GmbH & Co. KG (Germany)
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Exclusively encompassed USP market:
The market is influenced by factors such as the introduction of autonomous vehicles, the deployment of sophisticated connectivity features, the focus of OEMs and governments on electric vehicles, the use of sensor data for preventive maintenance and the vehicle and passenger safety concerns. The garage equipment market is mainly driven by an increase in car production and sales. Additionally, the garage equipment market is benefiting from the growing concerns of customers regarding security. Additionally, the garage equipment market is propelled by increasing sales of used vehicles. In addition, many rules of regular car inspections are growing in the garage equipment industry. Additionally, the industry is fueled by the advent of new technologies in the automotive aftermarket.
Automobile and auto component manufacturers are increasingly focusing on new product development operations to expand their customer base in response to increasing global automotive demand. Moreover, the growing popularity of electric vehicles is encouraging manufacturers to expand their product lines and improve their quality.
With the introduction of newer technologies, today’s vehicle demands have increased dramatically. Also, increasing innovation and increased investment in research and development have met the criteria of modern cars. The garage equipment market has also undergone several developments to improve the longevity and quality of the product. Additionally, the introduction of newer and more efficient garage equipment has opened up new opportunities for training institutions.
However, as the quality and cost of original equipment parts improve, repair operations decline, putting a damper on the garage equipment industry. Due to a lack of R&D facilities for automotive testing, less progressive and innovative products will be produced, and the quality of automotive testing will suffer.
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Market Segmentation Covered by Research:
The global automotive garage equipment market is divided into four categories: equipment, vehicle, garage and region.
The global market has been divided into wheel and tire service equipment, lifting equipment, vehicle diagnostic and testing equipment, bodywork equipment, washing equipment, and other tools based on the type of equipment.
The global market has been segmented into passenger automobiles and commercial vehicles based on vehicle type.
The market has been divided into OEM car dealerships, franchise garages and independent garages based on the type of garage.
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North America, Europe, Asia Pacific and Rest of the World are the four regions into which the global automotive garage equipment market is divided.
Due to the growing sale of new cars and commercial vehicles in China, India and ASEAN countries, the Asia-Pacific automotive garage equipment market is expected to dominate the industry during the period. forecast. Also, during the forecast period, the large number of vehicle fleets in Asia-Pacific is expected to fuel the demand for auto garage equipment.
The global automotive garage equipment market is expected to grow at a relatively steady pace in Europe and North America.
The automotive sector in North America is one of the most advanced in the world. The United States is the main source of growth in the region. The country’s automotive sector drives innovation, technology, and the production of high-performance, fuel-efficient vehicles. OEMs have implemented enhanced features as a result of developments in IoT sensors and devices. The country is likely to play an important role in the development of self-driving automobiles in the United States.
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Impact of COVID-19 on the Global Automotive Garage Equipment Market
The COVID-19 outbreak has caused vehicle production to halt and supply issues, crippling the automotive industry. In the coming quarters, automakers will worry about declining vehicle sales. Experts believe that there is a low probability of auto sales returning in 2020. Automotive testing equipment, on the other hand, may have a faster growth rate, which can be attributed to stricter laws regarding GHG emissions from cars. The growing energy saving movement and legislation affecting automotive will have a favorable impact on the automotive test equipment market.
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