Automotive Garage Equipment Market Share, Revenue, Demand, Key Manufacturers, Upcoming Trends, Challenges, Growth Drivers and Business Opportunities Till 2033

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Automotive Garage Equipment Market Share, Revenue, Demand, Key Manufacturers, Upcoming Trends, Challenges, Growth Drivers and Business Opportunities Till 2033: SPER Market Research



 Published: Apr-2024
 Author: SPER Analyst


Global Automotive Garage Equipment Market is projected to be worth USD 38.24 billion by 2033 and is anticipated to surge at a CAGR of 7.71%.

The term "automotive garage equipment" describes the devices and equipment used in auto repair facilities for vehicle diagnostics, maintenance, and repairs. Vehicle lifts, tire changers, wheel alignment machines, diagnostic instruments, and oil change equipment are just a few examples of this equipment. The growing need for auto maintenance and repair services is fueling the market for automotive garage equipment, which is expanding steadily. The market is expanding as a result of increased vehicle ownership, the necessity for routine maintenance, and improvements in automotive technology. The growth of the market is also being aided by technological developments in automotive garage equipment. Aiming to meet the increasing need for dependable and superior equipment in vehicle repair shops, manufacturers are launching novel items that enhance efficiency and precision.

Global Automotive Garage Equipment Market Driving Factors and Challenges
The introduction of autonomous vehicles, the implementation of advanced connection features, OEM and government focus on electric vehicles, the use of sensor data for preventive maintenance, and worries about passenger and vehicle safety are some of the drivers driving the industry. The market for garage equipment is mostly propelled by rising auto sales and manufacturing. The market for garage equipment is also gaining from growing customer concerns about safety. 

Moreover, the demand for garage equipment is being driven by a rise in sales of old cars. In addition, the garage equipment market is expanding due to the various regulations pertaining to routine car inspections. The introduction of fresh technology in the auto aftermarket is also driving the sector. Moreover, repair operations decrease as original equipment parts become more affordable and of higher quality, which dampens the growth of the garage equipment market. Insufficient facilities for automobile testing will lead to a decrease in the production of progressive and innovative items and a decline in the quality of automotive testing.


Impact of COVID-19 on Global Automotive Garage Equipment Market
The COVID-19 pandemic had a detrimental influence on the market since initial lockdowns resulted in garage closures and a decrease in vehicle manufacturing. But as regulations loosened in the first half of 2021, the market picked up steam again. Since the majority of consumers began using personal vehicles to suit their daily commuting demands, used car sales and consumer propensity toward vehicle maintenance have been the primary drivers of consumer demand in the automotive sector.

Global Automotive Garage Equipment Market Key Players
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such Arex Test Systems bv, Gray Manufacturing, Snap-On Incorporated, Vehicle Service Group SM, Bosch Limited, Continental AG, MAHA Maschinenbau Haldenwang GmbH & Co. KG, Boston Garage Equipment Ltd, M/s Samvit Garage Equipments.


Global Automotive Garage Equipment Market Segmentation

By Type: Based on the Type, Global Automotive Garage Equipment Market is segmented as; OEM, Independent.

By Application: Based on the Application, Global Automotive Garage Equipment Market is segmented as; Body Shop, Diagnostic & Testing, Emission, Lifting, Wheel & Tire, Washing.

By Installation: Based on the Installation, Global Automotive Garage Equipment Market is segmented as; Mobile, Fixed.

By Function: Based on the Function, Global Automotive Garage Equipment Market is segmented as; Mechanical, Electronic.

By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe. 

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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