The Automotive Garage Equipment Market size was valued at USD 6.45 billion in 2023 and is expected to reach USD 9.17 billion by 2031 and grow at a CAGR of 4.5% over the forecast period 2024-2031.
The Automotive Garage Equipment Market is set to experience steady growth, driven by several key factors. The expanding used car market, particularly in developing nations, will increase the demand for diagnostic tools and maintenance equipment to ensure the durability of these vehicles. Secondly, government regulations mandating stricter emission standards, such as India's BS-VI compliance, will boost the need for emission testing equipment, prompting workshops to upgrade their tools. Also, the emergence of electric vehicles (EVs) will create a specialized market for service equipment tailored to their needs. Notably, governments in key markets like China are heavily investing in EV infrastructure, with an estimated USD 150 billion investment by 2025. This investment necessitates a corresponding focus on service stations equipped to handle EVs, driving demand for specialized garage equipment.
Get More Information on Automotive Garage Equipment Market - Request Free Sample Report
The future garage will embrace technology, with diagnostic tools integrated into cloud-based platforms for remote monitoring and preventive maintenance. This trend presents a lucrative opportunity for manufacturers capable of innovating and adapting to the changing automotive landscape.
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
Market demand is being fueled by an increase in the number of people purchasing preowned cars.
The expanding preference for pre-owned vehicles is unexpectedly propelling the automotive garage equipment market to new heights. With a growing number of budget-conscious consumers opting for used cars, there's a heightened demand for reliable and effective maintenance solutions. This rush in demand extends beyond basic tools, as workshops are now investing in diagnostic equipment to address the complexities associated with older vehicles. As a broader spectrum of vehicles populate the roads, mechanics are seeking advanced tools to ensure precise repairs.
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
OPPORTUNITIES:
The rise of the automotive aftermarket is being fueled by the advent of innovative technology.
The automotive aftermarket is witnessing a significant upswing, fueled by ongoing advancements in car technology. It's not merely about introducing new parts for enhanced functionalities. The increasing intricacy of vehicles, incorporating electric and hybrid systems alongside advanced driver-assistance features, necessitates a fresh wave of diagnostic tools and repair equipment. In response, the aftermarket is introducing a wide array of solutions, ranging from AI-enhanced scan tools for mechanics to the utilization of 3D printing for spare parts production. This infusion of technology not only ensures the continued operation of these sophisticated vehicles but also empowers independent repair shops to rival dealerships, thereby fostering a more vibrant and innovative aftermarket landscape.
Because of the advent of more energy-efficient garage equipment, training facilities now have more options
CHALLENGES:
Because there are not enough research and development facilities for automobile testing
A lack of available staff at certain vehicle garage services
The conflict in Ukraine has had a noticeable impact on the automotive garage equipment market, although SNS Insider's analysts suggest it's relatively minor, with an estimated decline of under 5%. Nevertheless, disruptions are evident, particularly in the shortage of crucial raw materials such as neon and palladium, often obtained from the region. As a result, production costs have risen by around 10-15%, putting pressure on manufacturers' margins. The war's repercussions extend further, with chip shortages leading to reduced car production, potentially dampening the demand for new garage equipment. However, there could be a compensatory increase in repairs for older vehicles as consumers postpone purchasing new cars. While the long-term consequences of the conflict are uncertain, it has undoubtedly introduced a level of unpredictability into the automotive garage equipment market.
An economic downturn presents a mixed bag for the automotive garage equipment sector. While new car sales typically decline by 10-20%, reducing demand for equipment used in servicing new vehicles, it can also spur an uptick in maintenance and repair requirements. Strapped for cash, consumers tend to hold onto their existing vehicles, leading to a potential 5% increase in demand for replacement parts and general upkeep. This creates an opportunity for workshops to invest in diagnostic tools and service equipment to manage the influx of older vehicles. However, overall market growth may stall due to the initial drop in new equipment purchases, prompting manufacturers to offer enticing financing options and prioritize cost-effective equipment lines to appeal to budget-conscious repair shops.
The automotive garage equipment market can be categorized based on the types of garages it serves. Authorized by Original Equipment Manufacturers (OEM), which once dominated with a share projected to decline to around 40%, emphasize the use of manufacturer-specific tools and advanced diagnostics to adhere to rigorous service standards. In contrast, independent garages command a larger and expanding market share, estimated to surpass 60%. They attract customers with competitive pricing and a broader vehicle range, relying on versatile and cost-effective equipment. Recognizing these distinct garage profiles is essential for automotive equipment manufacturers to customize their offerings and address the unique requirements of each segment.
The automotive garage equipment market can be divided by application, revealing distinct workshop requirements. Lifting equipment stands out as the dominant segment, commanding approximately 25% of the market share. This category includes indispensable tools such as vehicle lifts, hoists, and jacks, essential for elevating vehicles during repair and maintenance tasks. Close behind is emission testing equipment, projected to experience a growth rate exceeding 5.4% due to increasingly stringent environmental regulations. Body shop equipment and diagnostic & testing tools are expected to hold shares of around 15% each, underscoring the significance of collision repair and accurate problem diagnosis in automotive maintenance. Wheel & tire equipment and washing systems collectively contribute around 10% to the market, while the "Others" segment accounts for the remaining 15%, encompassing various specialized tools and emerging technologies.
In 2023, electrical equipment emerged as the dominant force, commanding approximately 65% of the market share. This ascendancy is propelled by the increasing necessity of electronic control systems and diagnostic tools crucial for the maintenance of contemporary vehicles. Meanwhile, mechanical equipment, constituting the remaining 35% share, is poised for sustained expansion. This is attributed to the persistent need for conventional tools and lifting gear, which retain their significance as indispensable elements in any proficient garage setup.
Get Customized Report as per Your Business Requirement - Request For Customized Report
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
By Vehicle Type:
Passenger Vehicles
Commercial Vehicles
REGIONAL ANALYSIS:
In 2023, the automotive garage equipment market in the Asia Pacific was expected to account for 38.76% 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.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
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.
RECENT DEVLEPMENTS:
Robert Bosch GmbH's relentless pursuit of sustainable solutions has led to the development of eco-friendly garage equipment, aligning with global environmental initiatives.
Continental AG's focus on intelligent automation has streamlined operations, enhancing efficiency and accuracy in garage settings.
Hunter Engineering Company's breakthroughs in precision alignment systems have elevated vehicle performance and safety standards.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 6.45 Billion |
| Market Size by 2031 | US$ 9.17 Billion |
| CAGR | CAGR of 4.5% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| 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 (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, 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. |
Major Players of Market 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), and others in final report.
The Automotive Garage Equipment Market is segmented into three segments, by Garage Type, by Application, by Function Type.
Asia Pacific region is dominating the Automotive Garage Equipment Market.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Global Automotive Garage Equipment Market Segmentation, By Garage Type
9.1 Introduction
9.2 Trend Analysis
9.3 OEM authorized garage
9.4 Independent garage
10. Global Automotive Garage Equipment Market Segmentation, By Application
10.1 Introduction
10.2 Trend Analysis
10.3 Body Shop Equipment
10.4 Diagnostic & Testing Equipment
10.5 Emission Equipment
10.6 Lifting Equipment
10.7 Washing Equipment
10.8 Wheel & Tire Equipment
10.9 Others
11. Global Automotive Garage Equipment Market Segmentation, by Function Type
11.1 Introduction
11.2 Trend Analysis
11.3 Electronic
11.4 Mechanical
12. Global Automotive Garage Equipment Market Segmentation, by Vehilce Type
11.1 Introduction
11.2 Trend Analysis
11.3 Passenger Vehicles
11.4 Commercial Vehicles
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Eastern Europe
13.3.1.1 Poland
13.3.1.2 Romania
13.3.1.3 Hungary
13.3.1.4 Turkey
13.3.1.5 Rest of Eastern Europe
13.3.2 Western Europe
13.3.2.1 Germany
13.3.2.2 France
13.3.2.3 UK
13.3.2.4 Italy
13.3.2.5 Spain
13.3.2.6 Netherlands
13.3.2.7 Switzerland
13.3.2.8 Austria
13.3.2.9 Rest of Western Europe
13.4 Asia-Pacific
13.4.1 China
13.4.2 India
13.4.3 Japan
13.4.4 South Korea
13.4.5 Vietnam
13.4.6 Singapore
13.4.7 Australia
13.4.8 Rest of Asia Pacific
13.5 The Middle East & Africa
13.5.1 Middle East
13.5.1.1 UAE
13.5.1.2 Egypt
13.5.1.3 Saudi Arabia
13.5.1.4 Qatar
13.5.1.5 Rest of the Middle East
11.5.2 Africa
13.5.2.1 Nigeria
13.5.2.2 South Africa
13.5.2.3 Rest of Africa
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Colombia
13.6.4 Rest of Latin America
14. Company Profiles
14.1 Continental AG (Germany)
14.1.1 Company Overview
14.1.2 Financial
14.1.3 Products/ Services Offered
14.1.4 SWOT Analysis
14.1.5 The SNS View
14.2 Robert Bosch GmbH (Germany)
14.2.1 Company Overview
14.2.2 Financial
14.2.3 Products/ Services Offered
14.2.4 SWOT Analysis
14.2.5 The SNS View
14.3 Aro Equipments Pvt. Ltd (India)
14.3.1 Company Overview
14.3.2 Financial
14.3.3 Products/ Services Offered
14.3.4 SWOT Analysis
14.3.5 The SNS View
14.4 Istobal S.A. (US)
14.4.1 Company Overview
14.4.2 Financial
14.4.3 Products/ Services Offered
14.4.4 SWOT Analysis
14.4.5 The SNS View
14.5 Guangzhou Jingjia Auto Equipment Co., Ltd (China)
14.5.1 Company Overview
14.5.2 Financial
14.5.3 Products/ Services Offered
14.5.4 SWOT Analysis
14.5.5 The SNS View
14.6 Boston Garage Equipment Ltd (UK)
14.6.1 Company Overview
14.6.2 Financial
14.6.3 Products/ Services Offered
14.6.4 SWOT Analysis
14.6.5 The SNS View
14.7 Arex Test Systems B.V. (Netherlands)
14.7.1 Company Overview
14.7.2 Financial
14.7.3 Products/ Services Offered
14.7.4 SWOT Analysis
14.7.5 The SNS View
14.8 Nussbaum Automotive Solutions Lp (US)
14.8.1 Company Overview
14.8.2 Financial
14.8.3 Products/ Services Offered
14.8.4 SWOT Analysis
14.8.5 The SNS View
14.9 Vehicle Service Group (US)
14.9.1 Company Overview
14.9.2 Financial
14.9.3 Products/ Services Offered
14.9.4 SWOT Analysis
14.9.5 The SNS View
14.10 Others
14.10.1 Company Overview
14.10.2 Financial
14.10.3 Products/ Services Offered
14.10.4 SWOT Analysis
14.10.5 The SNS View
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
15.3.1 Industry News
15.3.2 Company News
15.3.3 Mergers & Acquisitions
16. Use Case and Best Practices
17. Conclusion
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.
The Automotive e-Call Market size was valued at USD 1.51 billion in 2023 and will reach to USD 3.48 billion by 2031 and grow at a CAGR of 11% by 2024-2031
The Fuel Cell Powertrain Market Size was valued at $761.62 million in 2023 & will reach $11958.62 Million by 2031 and grow at a CAGR of 48.2% by 2024-2031
The Automotive Brake Shoe Market Size was valued at USD 10.85 billion in 2023 and is expected to reach USD 19.10 billion by 2031 and grow at a CAGR of 7.55% over the forecast period 2024-2031.
The Electric Vehicle On-board Charger Market Size was valued at USD 4.88 billion in 2023 and is expected to reach USD 19.64 billion by 2031 and grow at a CAGR of 19% over the forecast period 2024-2031.
The Electric Forklift Market size is expected to reach USD 134.28 Billion by 2031, the value for the year 2023 was recorded USD 43.3 Billion and the CAGR is expected to be 15.2% over the forecast year 2024-2031.
The Automotive Seats Market size was valued at USD 53.45 Billion in 2023 and is expected to reach USD 60.21 Billion by 2031. And grow at a CAGR of 1.5% over the forecast period of 2024-2031.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
