The global garage equipment market is projected to grow at a CAGR 6.49% rate during the forecast period. Factors such as the advent of autonomous vehicles, implementation of advanced connectivity features, OEM and government focus on electric vehicles, use of sensor data for preventive maintenance, and concerns of vehicle and passenger safety are driving the market.
The emission equipment segment is expected to be the fastest-growing market during the forecast period. The increasing pollution level is one of the major concerns for the government and OEMs around the world. Common emission equipment includes exhaust gas analyzers, diesel smoke meters, and emission testers. This equipment measures various pollutants such as carbon monoxide, carbon dioxide, and nitrogen oxides.
Independent garages are expected to lead the garage equipment market during the forecast period. Post-warranty, majority of the car owners approach independent garages due to inexpensive labor cost in these garages. Also, the usage of genuine after-market products has grown significantly in the independent garages to attract premium car owners. Usage of authorized products and affordable labor costs made independent garages, a preferred option for preventive maintenance such as routine repairs, oil check-ups, and others.
North America is expected to lead the market during the forecast period. The North American automotive industry is one of the most advanced in the world. The US is the major country fuelling the growth in the region. The automotive industry in the country is inclined towards innovation, technology, and development of high-performance and fuel-efficient vehicles. The advancements in sensors and IoT devices had led the OEMs to implement advanced features.
Key market players include Arex Test Systems B.V. (Netherland), Gray Manufacturing Company Inc. (US), Snap-On Incorporated (US), Vehicle Service Group (US), Robert Bosch (Germany), Continental AG (Germany), Maha Maschinenbau Haldenwang GmbH & Co. (Germany), Boston Garage Equipment Ltd (UK) and many others.
· How will increasing vehicle parc impact the growth of garage equipment?
· What is the impact of stringent emission norms on the market?
· What are the upcoming trends in garage equipment? What impact would they make post-2022?
· What are the key strategies adopted by the top players to increase their revenue?
· Which are the highest revenue-generating countries in the world?
1.1. Market Definition
1.2. Study Scope
1.3. Study Period
1.4. Market Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Research Design
2.4. Data Validation
2.5. Limitations and Assumptions
3. Executive Summary
4. Market Dynamics
4.1.1.Increasing Sales of Pre-Owned Vehicles
4.1.2.Vehicle Inspection Mandates
4.2.1.Demand for ECU and Other Electronic Features
4.2.2.Strict Emission Regulations
4.3.2.International Trade Regulations
5. Garage Equipment Market, By Function Type
6. Garage Equipment Market, By Garage Type
6.1. OEM Authorized Garage
6.2. Independent Garage
7. Garage Equipment Market, By Installation Type
8. Garage Equipment Market, By Equipment Type
8.1. Body Shop Equipment
8.2. Diagnostic & Testing Equipment
8.3. Emission Equipment
8.4. Lifting Equipment
8.5. Washing Equipment
8.6. Wheel & Tire Equipment
9. Garage Equipment Market, By Vehicle Type
9.1. Passenger Car
9.2. Commercial Vehicle
10. Garage Equipment Market, By Region
10.1. Asia Pacific
10.1.4. South Korea
10.1.5. Rest of Asia Pacific
10.2.7. Rest of Europe
10.3. North America
10.4. Rest of the World (RoW)
11. Company Profiles
11.1. Dover Corporation
11.2. Continental AG
11.3. Robert Bosch GmbH
11.4. Snap-On Incorporated
11.5. Fortive Corporation
11.6. Cemb S.P.A
11.7. Boston Garage Equipment Ltd
11.8. Aro Equipments Pvt. Ltd
11.9. Arex Test Systems B.V.
11.10. Gray Manufacturing Company
11.11. Guangzhou Jingjia Auto Equipment Co. Ltd
11.12. Maha Maschinenbau Haldenwang GmbH & Co
*Company introduction, financial information, recent developments, SWOT analysis
12. Conclusion and Recommendations
13.2. Related Reports