Automotive Test Equipment Market Share, Size, Trends, And Business Opportunity Analysis Report 2019 include historic data, with forecast data to 2025. Automotive Test Equipment Industry report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2025.
Market Research Future’s (MRFR’s) analysis of the global automotive test equipment market reveals a possibility of remarkable growth throughout the forecast period (2017-2025). The achieved CAGR would help the market in exceeding the predicted valuation by the end of 2025. Automotive test equipment are needed to check the performance of vehicles such as fuel dilution, lubricant condition, oil consumption, and others.
The global automotive test equipment industry is expecting significant growth in sync with the burgeoning automotive industry. Major concerns regarding safety and ecological issues are factors that can trigger the market growth. These factors are likely to play even bigger roles owing to the thrust generated by government regulations. In the coming years, the automotive test equipment industry is all set to grow more with increasing participation from China, Japan, and South Korea.
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MRFR placed their case study of the global automotive test equipment market on the basis of segmentation by product type, vehicle type, and applications. These segmentations carry detailed report of both volume-wise and value-wise information due to which the understanding of the market becomes more comprehensive.
Based on the product type, the global automotive test equipment market can be segmented into wheel alignment tester, engine dynamometer, chassis dynamometer, and vehicle emission test system. The vehicle emission test is gaining much boost due to strict government regulations regarding carbon footprint.
Based on the vehicle type, the global automotive test equipment market can be segmented into light commercial vehicle, heavy commercial vehicle, and passenger cars. The passenger cars segment is expected to draw substantial revenue due to its market proliferation.
Based on the application, the global automotive test equipment market can be segmented into PC/ laptop-based scan tool, handheld scan tool, mobile device-based scan tool, and others. The handheld scan tool segment is expecting growth in sales during the forecast period.
Based on the region, MRFR segmented their report on the global automotive test equipment market by North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW). This analysis reveals the growth pockets that can impact the market considerably during the forecast period. At the same time, it eases the assessment process of the market by making the analysis more specific.
The APAC market has the upper-hand in the global automotive test equipment market. Efforts made by China to take on global leaders are providing much-thrust to the regional market. At the same time, several developing countries have provided alluring opportunities to market leaders to influence their expansion plans which has given rise to new manufacturing facilities. Japan and South Korea are also doing substantially well and their further growth is assured during the forecast period. Growth in the regional automotive sector is always proportionate to the growth in the intake of automotive test equipment.
Europe has the second-best market. The regional growth is a result of a well-structured automotive industry. The industry is benefitting from the presence of several market titans, such a Mercedes, BMW, Volkswagen, and others.
North American market is witnessing a surge in automobile industry which is directly responsible for the rising intake of the automotive test equipment market.
Several companies are getting involved in the global automotive test equipment market. Their strategic moves are inspiring their individual growth, as well as, impacting the market expansion from various sides. These companies are Honeywell International Inc. (U.S.), Delphi Automotive PLC (U.K.), ABB Ltd. (Switzerland), Teradyne Inc. (U.S.), Robert Bosch GmbH (Germany), Softing AG (Germany), Advantest Corp (Japan), Horiba Ltd. (Japan), Actia S.A. (France), and others.
In April 2019, Keysight Technologies received the OmniAir Qualified Test Equipment (OQTE) for their OmniAir Consortium. This technology is a vehicle-to-everything (V2X) test solution and is getting much traction from several leading automotive manufacturers and suppliers who are willing to invest in such technologies to increase their safety and efficiency levels.
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