The latest report on Automotive Garage Equipment Market by Infinium Global Research gives complete coverage of the Automotive Garage Equipment Market by Type (lifting equipment, testing equipment, diagnostic instruments, wheel & tire service equipment, and washing equipment), garage type (OEM dealership, and independent garage), vehicle type (passenger cars, and commercial vehicle) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of Automotive Garage Equipment such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Increase in the Number of OEM Dealerships is the Most Noticeable Trend Witnessed in the Industry
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 gas 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.
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Increased the Demand for Automotive Garage Equipment
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 the 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.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Automotive Garage Equipment.
- Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.