DUBLIN, Sept. 17, 2019 /PRNewswire/ -- The "Garage Equipment Market by Type (OEM, Independent), Application (Body Shop, Diagnostic & Testing, Emission, Lifting, Wheel & Tire, Washing), Installation (Mobile, Fixed), Function (Mechanical, Electronic), Vehicle, and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The garage equipment market is projected to grow from USD 6.1 billion in 2019 to USD 10.7 billion by 2027, at a CAGR of 7.4%.
Factors such as the increasing demand for pre-owned vehicles, rising vehicle inspection mandates, stringent emission regulations, and adoption of advanced technologies are expected to boost the market. However, international trade regulations and increasing competition are the key challenges in the automotive garage equipment market.
The study covers the garage equipment market across various segments. It aims at estimating the market size and future growth potential of this market across different segments such as garage type, application, installation, function, vehicle, and region. The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and acquisitions.
The automotive industry has evolved significantly over the past decade. Developments of the connected car, autonomous driving, and electric vehicles have played an important role in this evolution. The advent of electric vehicles and connected vehicles has shifted the focus of automotive OEMs from mechanical components in a vehicle to electronic components and connectivity features. Numerous sensors such as long-range radars, high-definition cameras, motion sensors, and other electronics are added for a smarter and comfortable driving experience.
The upcoming electric vehicles will require new and advanced garage equipment to diagnose the batteries and related circuitries. Also, OEMs are banking on vehicle telematics to enhance value addition for their customers. The onboard ECU would generate a huge amount of vehicle data. OEMs plan to utilize this data to inform the owner about necessary maintenance and schedule periodic repairs.
The garage equipment market is dominated by global players such as Vehicle Service Group (US), Continental AG (Germany), Robert Bosch (Germany), Snap-on Incorporated (US), Fortive Corporation (US), Boston Garage Equipment Group Ltd (UK), and others. These companies develop new products, adopt expansion strategies, and establish collaborations, partnerships, and mergers & acquisitions to gain traction in the garage equipment market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.2 Market Dynamics
6 Industry Trends
6.1 Porter's Five Forces
6.2 Value Chain Analysis
6.3 Macro Indicator Analysis
7 Automotive Garage Equipment Market, By Garage Type
7.2 OEM Authorized
7.3 Independent Garage
8 Automotive Garage Equipment Market, By Vehicle Type
8.2 Passenger Car
8.3 Commercial Vehicle
9 Automotive Garage Equipment Market, By Application Type
9.2 Body Shop Equipment
9.3 Diagnostic & Testing Equipment
9.4 Emission Equipment
9.5 Lifting Equipment
9.6 Washing Equipment
9.7 Wheel & Tire Equipment
10 Automotive Garage Equipment Market, By Installation Type
11 Automotive Garage Equipment Market, By Function Type
12 Automotive Garage Equipment Market, By Region
13 Competitive Landscape
13.2 Market Ranking Analysis
13.3 Competitive Scenario
13.4 Competitive Leadership Mapping
13.4.1 Visionary Leaders
13.4.3 Dynamic Differentiators
13.4.4 Emerging Companies
14 Company Profiles
14.1 Cemb S.P.A.
14.2 Boston Garage Equipment
14.3 Aro Equipments
14.5 Vehicle Service Group
14.6 Continental AG
14.7 Robert Bosch
14.8 Gray Manufacturing Company
14.9 Snap-On Incorporated
14.10 Guangzhou Jingjia Auto Equipment Co., Ltd
14.11 Hennessy Industries
14.12 Maha Mechanical Engineering Haldenwang GmbH & Co
14.13 Beissbarth Automotive Service Equipment
For more information about this report visit https://www.researchandmarkets.com/r/3irnhh
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