The Automotive Garage Equipment Market size was valued at USD 7.76 billion in 2023 and is Projected to reach USD 11.03 billion by 2031 and grow at a CAGR of 4.5% By 2024-2031.
In recent years, there has been an increased emphasis on the significance of timely preventative maintenance. Most people are attempting to keep their vehicles in good working order because they have become such an important part of their daily lives. Daily commuters are increasingly focused on vehicle maintenance. Furthermore, this has contributed to an increase in the garage equipment market. With rising safety equipment and increased vehicle design changes, the demand for advanced technology has grown. The garage's equipment includes wheel and tire service equipment, lifting equipment, car diagnostic and testing equipment, body shop equipment, cleaning equipment, and other tools.
The Garage Equipment market is primarily driven by a surge in car production and sales. Furthermore, rising safety concerns among car buyers are boosting the garage equipment market. Furthermore, increased used vehicle sales are driving the garage equipment industry. Furthermore, different rules for annual car inspections are expanding the garage equipment industry. However, enhancing the quality and cutting the cost of original equipment parts is reducing repair operations and thereby affecting the garage equipment industry. Furthermore, the introduction of newer technologies in the automotive aftermarket is driving market growth.
With increased global automotive demand, automakers and auto component manufacturers are increasingly focusing on new product development efforts to expand their customer base. Furthermore, the growing popularity of electric vehicles is encouraging manufacturers to improve their product offerings and quality. In 2019, OMCN introduced the new lift type 190/EV, which is specifically intended for electric vehicles. The lift is designed to make it easier to install and remove battery packs in electric vehicles.
Top Key Players of Automotive Garage Equipment Market
-Arex Test Systems B.V. (Netherlands)
-Boston Garage Equipment Ltd (U.K.)
-Gray Manufacturing Company Inc. (U.S.)
-Robert Bosch (Germany)
-Maha Maschinenbau Haldenwang GmbH & Co. (Germany)
-Snap-On Incorporated (U.S.)
-Continental AG (Germany)
-Vehicle Service Group (U.S.)
The Automotive Garage Equipment market report provides a comprehensive analysis of the current trends, opportunities, challenges, and future outlook of the industry. It covers key market drivers, restraints, and growth factors influencing the Automotive Garage Equipment sector. The report also includes insights on market size, revenue forecasts, competitive landscape, and regulatory framework impacting the market. Additionally, it highlights technological advancements, project developments, investment trends, and strategic initiatives by key players in the Automotive Garage Equipment market. Overall, this report serves as a valuable resource for industry stakeholders looking to make informed decisions and capitalize on emerging opportunities in the Automotive Garage Equipment sector.
Market Segment:
By Garage Type:
-OEM authorized garage
-Independent garage
By Application:
-Body Shop Equipment
-Diagnostic & Testing Equipment
-Emission Equipment
-Lifting Equipment
-Washing Equipment
-Wheel & Tire Equipment
-Others
By Function Type:
-Electrical
-Mechanical
Key benefits of the report:
This study presents analytical depiction of the global Automotive Garage Equipment market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Automotive Garage Equipment market share.
The current market is quantitatively analyzed to highlight the global Automotive Garage Equipment market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed Automotive Garage Equipment market analysis based on the present and future competitive intensity of the market.
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