A recent report published by Infinium Global Research on automotive garage equipment market provides in-depth analysis of segments and sub-segments in the global as well as regional automotive garage equipment market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automotive garage equipment market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automotive garage equipment market. According to the report, the global automotive garage equipment market is projected to grow at a CAGR of 4.24% over the forecast period of 2019-2025.
Increasing technological advancements are changing the automotive garage equipment market, which enables its operators to work efficiently. In January 2019, WORKY’s touchless exhaust extraction system was adopted by the Porsche Center Tonbridge at its new flagship dealership. This system is the most advanced exhaust gases extracting solution that extracts the gases regardless of the size and position of the exhaust pipes. An increase in the number of OEM dealerships is the most noticeable trend witnessed in the market.
The increase in the population led to a high demand for transportation, which fueled the growth of the automotive industry. This is the major driving factor for the growth of the automotive garage equipment market. Moreover, increasing pollution levels have led the governments to implement stringent regulation on vehicle emissions. This encourages customers to maintain and repair their vehicles timely in order to reduce the emission and also improve the fuel efficiency of the vehicle. These government regulations boost the growth of the automotive garage equipment market. Furthermore, people are becoming aware of the fuel efficiency and life of the vehicle, which is directly related to the proper maintenance of the vehicle. This has increased the demand for automotive garage equipment. However, the higher cost related to the maintenance and repair of some vehicles is the major restraining factor of the automotive garage equipment market. Nevertheless, increasing penetration of OEM franchise and up gradation of the existing independent garages is anticipated to offer favorable opportunities to the players in the market.
In terms of region, Asia-Pacific generated the highest revenue for the automotive garage equipment, dominating the global market. The largest market share of the Asia-Pacific region attributed to a large number of independent garages and the presence of leading OEM dealerships. Moreover, the high production and sale of passenger cars and light commercial vehicles in the Asia-Pacific region are anticipated to boost the automotive garage equipment market in this region.
The report on global automotive garage equipment market covers segments such as type, garage type, and vehicle type. On the basis of type, the sub-markets include lifting equipment, testing equipment, diagnostic instruments, wheel & tire service equipment, and washing equipment. On the basis of garage type, the sub-markets include OEM dealership, and independent garage. On the basis of vehicle type, the sub-markets include passenger cars, and commercial vehicle.
The report provides profiles of the companies in the market such as Istobal S.A., Robert Bosch GmbH, Continental AG, Gray Manufacturing Company, Inc., Arex Test Systems B.V., Nussbaum Automotive Solutions Lp, Guangzhou Jingjia Auto Equipment Co., Ltd, Boston Garage Equipment Ltd, Vehicle Service Group, LLC, Aro Equipments Pvt. Ltd., and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automotive garage equipment market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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