New York, USA, May 11, 2023 (GLOBE NEWSWIRE) — According to a comprehensive report by MRFR/Market Research Future (MRFR), “Garage equipment market for cars Research report information by Garage Type, Region, Equipment Type and Vehicle Type: Forecast to 2030”, the global automotive garage equipment market is anticipated to rise substantially during the era review from 2022 to 2030 at a substantial growth rate of 4.22%.The reports also predict that the market will acquire close to USD 10.7 billion by the end of 2030. The documents show that the garage equipment market of automobiles was valued at nearly $6.1 billion by 2022.
Automotive Garage Equipment Market Overview:
After the warranty, most of the car owners approach independent garages because of the cheap labor costs of these garages. In addition, genuine aftermarket products have grown substantially in independent garages to attract premium car owners. Also, due to the increased repair and maintenance costs at OEM authorized garages, car owners are getting their cars from independent garages. The global automotive garage equipment industry has shown immense development of late.
Competitive analysis
The list of prominent leaders in the global automotive garage equipment market includes players such as:
- Arex Test Systems BV (Netherlands)
- Maha Maschinenbau Haldenwang GmbH & Co. (Germany)
- Boston Garage Equipment Ltd (United Kingdom)
- Snap-On Incorporated (USA)
- Gray Manufacturing Company Inc. (USA)
- Continental AG (Germany)
- Robert Bosch (Germany)
- Vehicle Service Group (USA)
- Among others.
Get a sample PDF brochure:
https://www.marketresearchfuture.com/sample_request/7959
The main parameter causing an increase in market performance is the rapid increase in the number of new construction projects in both the commercial and residential sectors. In addition, increasing urbanization and industrialization across the globe is also anticipated to boost the performance of the automotive garage equipment market during the review period.
Automotive garage equipment market covered by USP
Market drivers
The global automotive garage equipment market has shown immense development of late. The main parameter causing an increase in market performance is the rapid increase in the number of new construction projects in both the commercial and residential sectors. Moreover, increasing urbanization and industrialization across the globe is also expected to boost the market performance during the review period. In addition, genuine aftermarket products have grown substantially in independent garages to attract premium car owners. Also, due to the increased repair and maintenance costs at OEM authorized garages, car owners are getting their cars from independent garages.
Scope of the report:
| Report metrics | Details |
| 2032 market size | 2030: $10.7 billion 2032: Significant value |
| CAGR during 2023-2032 | 4.22% CAGR |
| base year | 2021 |
| forecast | 2023-2032 |
| Coverage of the report | Revenue forecast, competitive landscape, growth factors and trends |
| Segments covered | Type of equipment, type of vehicle, type of garage |
| Key market opportunities | To meet the needs of modern garages, such as reliable fault diagnostics, fast vehicle identification and comprehensive data |
| Main drivers of the market | Stringent government regulations coupled with increased demand to control rising levels of exhaust emissions by eliminating diesel particulate traps |
Explore the in-depth market research report (100 pages). Automotive Garage Equipment Market:
https://www.marketresearchfuture.com/reports/automotive-garage-equipment-market-7959
Market limitations
On the contrary, some parameters can limit the development of the market. The main parameter that limits the development of the market is the high associated costs.
Trends suggest that the global market is likely to witness a decline in sales due to the virus outbreak, which has targeted people’s employment.
Impact of COVID-19 on the Automotive Garage Equipment Market
The COVID-19 pandemic has had a massive impact on various areas of industry around the world. The auto garage equipment market is no different from others. In March 2020, the WHO’s announcement of the coronavirus as a pandemic led to lockdowns in most nations of the world. The market experienced a major setback during the pandemic, given the shutdown of various industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is expected to grow considerably over the coming years. Increasing sales of excavators and related products are expected to be crucial to generate revenue for the automotive garage equipment industry. Moreover, the rapidly growing demand for the products can be attributed to its high use in the construction of residential and commercial buildings.
Request customization:
https://www.marketresearchfuture.com/ask_for_customize/7959
Automotive Garage Equipment Market Segment Analysis
Among all types of garages, the detached garage segment is expected to lead the global market in the coming years.
Among all the application areas, the diagnostic and test equipment segment will lead the global market in the coming years.
Automotive Garage Equipment Market Regional Analysis
MRFR research reports suggest that the Asia-Pacific region held the top position in the global automotive garage equipment industry in 2021.
The European regional automotive garage equipment market is anticipated to show significant development over the coming years, mainly due to the rapid growth of the automotive sector in these regions.
The North American regional market for automotive garage equipment is anticipated to exhibit considerable development in the coming years, given the presence of the US and Canada, as they are considered to be the most advanced in the world. The region has the United States as the main contributor to growth, given the rapid tilt towards technology, innovation and development of high-performance and fuel-efficient vehicles.
Buy Now Premium Research Report:
https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=7959
In addition, the development of IoT sensors and devices has emerged for OEMs to implement advanced features. The nation is likely to play a crucial role in the growth of autonomous vehicles in the US. The region saw a rapid growth in commercial vehicle sales of 6.9% to reach 15,152,39 units in 2018. In addition, the growth in logistics demand and innovation are also expected to see North OEMs Americans positively affect the development of the regional market in the coming years.
Related reports:
Automotive test equipment market Research Report: Information by Product Type, Vehicle Type, Application and Region – Forecast to 2030
Market of lubricants for automobiles Research Report Information by Material, Product Type, Application and Region: Forecast to 2028
Alloys for the automotive market Research Report Information Report by Type, by Application, by Vehicle and by Region – Global Forecast to 2030
On the future of market research:
Market Research Future (MRFR) is a global market research company that prides itself on its services, providing comprehensive and accurate analysis of various markets and consumers worldwide. Market Research Future has the distinguished goal of providing optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users and market players for global, regional and country market segments enable our clients to see more, learn more and do more, that help answer your most important. questions
Follow us: LinkedIn | Twitter
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 100
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
