Global Automotive Garage Equipment Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

"Global Automotive Garage Equipment Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global automotive garage equipment market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. Global automotive garage equipment market report has been segmented on the basis of product type, vehicle type, garage type, and region.

Introduction:

Automobiles are designed with advanced technology to offer high performance features such as high speed, and enhancement of overall efficiency. With advancements in performance, safety and repair of vehicles are equally important. Continuous changes in the automotive sector, such as lightweight engine to make comfortable ride, adoption of airbags for safety purpose, and advancement in equipment such as tire changer, automotive jacks, welding tools, wheel balancer, lifting equipment, and others plays an important role to the automotive garage equipment market.

Market Dynamics:

Increasing automotive production, stringent rules and regulations regarding vehicle’s fuel efficiency, emission norms, and rising demand for garage equipments are some of the factors expected to drive the growth of the target market over the forecast period. Moreover, urbanization, increasing disposable income, and standard of living in emerging countries are contributing to growth of the automotive industry and automotive garage equipment market subsequently. Another prominent factor anticipated to drive the automotive garage equipment market is increasing average age of vehicles and increasing sales of used vehicles, which triggers demand for replacement and maintenance of vehicle components. Also, increasing number of manufacturers authorized service centers and emergence of multi-brand service centers also expected to bolster additional demand for automotive garage equipments over the long run.

Increasing preference towards quality and authentic products, service centers are entering into partnerships with OEM’s which create a lucrative opportunity to grow the market during forecast period.

Segment Analysis:

On the basis of product type, wheel & tire service equipment segment is expected to hold significant share in the market over the forecast period. The growing vehicle production and the rising demand for improved vehicle aspects are expected to drive the target market.

On the basis of vehicle type of the market segmented into two wheelers, passenger cars, heavy commercial vehicle (HCV), and light commercial vehicle (LCV). The two wheelers segment is projected to grow at faster pace owing to increasing demand for automobiles in the developing countries.

On the basis of garage type, target market is consisting automotive dealerships, independent garage, and others (specialty shops and Tire shops). The automotive dealerships segment is estimated to be the largest revenue contributing segment in the target market.

Geographical Analysis:

The Asia Pacific automotive garage equipment market is expected to dominate the global automotive garage equipment market owing to presence of number of independent garages and OEM dealerships in countries in the region. Increasing per capita income, stringent safety norms, and rising demand for premium and luxury cars in the region plays an important role for growth of the automotive garage equipment market. North America accounts for significant share in the global market in terms of revenue and is expected to maintain its growth rate over the forecast period. The Europe market accounts for moderate revenue share in the global market and is expected to witness considerable growth over the next 10 years. Moreover, the market in Middle East & Africa are also expected to register moderate growth rate over the forecast period.

Global Automotive Garage Equipment Market Segmentation:

Automotive Garage Equipment Market, by Product Type:

• Lifting Equipment
• Testing Equipment
• Diagnostic Instruments
• Wheel & Tire Service Equipment
• Washing Equipment
• Others (Air Compressors, Battery Chargers, Safety Glasses, Paint Guns etc.)

Automotive Garage Equipment Market, by Vehicle type:

• Two Wheelers
• Passenger Cars
• Heavy Commercial Vehicle (HCV)
• Light Commercial Vehicle (LCV)

Automotive Garage Equipment Market, by Garage Type:

• Automotive Dealerships
• Independent Garage
• Others (Specialty Shops and Tire shops)

 Automotive Garage Equipment Market, by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa