Report Id: SNS/AUTO/1756 | June 2022 | Region: Global | 130 Pages
Report Scope & Overview:
Automotive Garage Equipment Market Size was valued at USD 7.59 billion in 2022 and is expected to reach USD 13.64 billion by 2030 and grow at a CAGR of 7.6% over the forecast period 2023-2030.
A vehicle garage where cars are stored and repaired must be well-equipped to perform services such as washing, lubrication, and tire and battery replacement. An automotive garage has specialized equipment such as lifting tackle, car lifts, tire inflation, tire changing machines, and wheel balance machines, as well as other fixtures, tools, and jigs.
Preventive maintenance has grown in importance in recent years due to the necessity of performing it on time. Vehicles have become such an essential part of our daily lives that many people go to great lengths to ensure that they are in good working order. Vehicle upkeep is becoming more important to commuters.
Furthermore, this has led to an increase in the market for garage equipment. The requirement for advanced equipment has increased as a result of increasing safety equipment and vehicle design improvements. Garage equipment includes wheel and tire servicing, lifts, car diagnostic and testing equipment, body shop, and other items such as washing and drying equipment.
In November 2021, Forward Lift Company announced a new range of adapter kits for the company's mobile column lifts. These attachments allow forklift specialists to lift and operate a larger range of forklifts, allowing them to handle pallet trucks and heavy vehicles more simply.
The Garage Equipment market is primarily driven by an increase in car production and sales.
The industry is benefiting from rising customer awareness of safety hazards in automobiles.
Market demand is being fueled by an increase in the number of people purchasing secondhand cars.
Repairs are decreasing due to improvements in original equipment components quality and lower costs.
The market for garage equipment is being flooded by a variety of laws for frequent car inspections.
The rise of the automotive aftermarket is being fueled by the advent of innovative technology.
Because of the advent of more energy-efficient garage equipment, training facilities now have more options.
Because there are not enough research and development facilities for automobile testing.
A lack of available staff at certain vehicle garage services.
IMPACT OF COVID-19:
The COVID-19 epidemic has spread throughout the world. The WHO's classification of coronavirus as a pandemic in March 2020 resulted in lockdowns being enacted in the majority of countries. The stringent limits imposed by government authorities have prompted industry participants to allow their staff to operate remotely and virtually. The implementation of automated developed technologies to decrease human interaction in manufacturing and production facilities, on the other hand, is predicted to boost the broad growth of the worldwide automotive garage equipment market throughout the forecast period, which will conclude in 2028. The widespread use of technologies, such as automated machinery and modern electronics, ensured the continuity of corporate operations during the epidemic and increased labor efficiency.
KEY MARKET PLAYERS:
Robert Bosch GmbH (Germany), Continental AG (Germany), Aro Equipments Pvt. Ltd (India), Istobal S.A. (US), Guangzhou Jingjia Auto Equipment Co., Ltd (China), Boston Garage Equipment Ltd (UK), Arex Test Systems B.V. (Netherlands), Nussbaum Automotive Solutions Lp (US), Vehicle Service Group (US), Gray Manufacturing Company, Inc. (US), MAHA Mechanical Engineering Haldenwang GmbH & Co. KG (Germany) are some of the affluent competitors with significant market share in the Automotive Garage Equipment Market.
Market, By Garage Type:
Based on the garage type segment, the global market has been divided into OEM authorized garages and independent garages. Independent mechanics have seen a huge increase in sales of authentic aftermarket parts and accessories as a way to draw in high-end vehicle owners. As a result, more and more automobile owners are having their vehicles serviced at independent garages rather than at OEM-approved garages.
Market, By Application:
The global market has been divided into Body Shop Equipment, Diagnostic & Testing Equipment, Emission Equipment, Lifting Equipment, Washing Equipment, Wheel & Tire Equipment, and Others based on the application segment. According to industry analysts, the CAGR for emission equipment is predicted to be the greatest in the coming years. An exhaust gas analyzer is a device that measures the amount of exhaust gas in a vehicle.
Market, By Function Type:
The global market has been divided into electrical, and mechanical based on the function type segment.
By Garage Type:
OEM authorized garage
Body Shop Equipment
Diagnostic & Testing Equipment
Wheel & Tire Equipment
By Function Type:
In 2021, the automotive garage equipment market in the Asia Pacific was expected to account for 38.76 percent of the global total. The region's automotive garage equipment market is being propelled by upcoming emission standards in the Asia Pacific. Economic growth in Europe, particularly in the EU-5 countries, is expected to fuel demand for automobile garage equipment over the projection period.
When it comes to car maintenance, high standards of living and increased disposable incomes in North America and Europe are expected to drive demand for automotive garage equipment, which is expected to drive demand for automotive garage equipment. Due to the rising demand for a pleasant and relaxing driving experience across the world's countries both developed and developing, experts predict that the market for smooth and comfortable vehicles will grow rapidly.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 7.59 Billion|
|Market Size by 2030||US$ 13.64 Billion|
|CAGR||CAGR of 7.6% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Garage Type (OEM authorized garage, independent garage)
• by Application (Body Shop Equipment, Diagnostic & Testing Equipment, Emission Equipment, Lifting Equipment, Washing Equipment, Wheel & Tire Equipment, Others)
• by Function Type (Electrical, Mechanical)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Robert Bosch GmbH (Germany), Continental AG (Germany), Aro Equipments Pvt. Ltd (India), Istobal S.A. (US), Guangzhou Jingjia Auto Equipment Co., Ltd (China), Boston Garage Equipment Ltd (UK), Arex Test Systems B.V. (Netherlands), Nussbaum Automotive Solutions Lp (US), Vehicle Service Group (US), Gray Manufacturing Company, Inc. (US), MAHA Mechanical Engineering Haldenwang GmbH & Co. KG (Germany)|
|Key Drivers||•The Garage Equipment market is primarily driven by an increase in car production and sales.
•The industry is benefiting from rising customer awareness of safety hazards in automobiles.
|RESTRAINTS||•Repairs are decreasing due to improvements in original equipment components quality and lower costs.
•The market for garage equipment is being flooded by a variety of laws for frequent car inspections.
Frequently Asked Questions (FAQ) :
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
188.8.131.52 United Kingdom
184.108.40.206 South Korea
220.127.116.11 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Automotive Garage Equipment Market Segmentation, By Garage Type
8.1 OEM authorized garage
8.2 Independent garage
9. Global Automotive Garage Equipment Market Segmentation, By Application
9.1 Body Shop Equipment
9.2 Diagnostic & Testing Equipment
9.3 Emission Equipment
9.4 Lifting Equipment
9.5 Washing Equipment
9.6 Wheel & Tire Equipment
10. Global Automotive Garage Equipment Market Segmentation, by Function Type
11. Regional Analysis
11.2 North America
11.2.1 the USA
11.3.2 the UK
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Continental AG (Germany),
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Robert Bosch GmbH (Germany)
12.3 Aro Equipments Pvt. Ltd (India)
12.4 Istobal S.A. (US)
12.5 Guangzhou Jingjia Auto Equipment Co., Ltd (China)
12.6 Boston Garage Equipment Ltd (UK)
12.7 Arex Test Systems B.V. (Netherlands)
12.8 Nussbaum Automotive Solutions Lp (US)
12.9 Vehicle Service Group (US)
12.10 Gray Manufacturing Company, Inc. (US)
12.11 MAHA Mechanical Engineering Haldenwang GmbH
12.12 Co. KG (Germany)
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.