Automotive Test Equipment Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Automotive Test Equipment Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Automotive Test Equipment Market

The automotive test equipment market size was valued at USD 10.11 billion in 2022, and the market is now projected to grow from USD 10.42 billion in 2023 to USD 13.20 billion by 2030, exhibiting a CAGR of 3.44% during the forecast period of 2023-2030.

The COVID-19 pandemic undesirably impacted the automotive industry, embracing the automotive testing market. The range and nature of the impact diverse depending on numerous aspects, such as the period and strictness of lockdowns, the supply chain disturbances, and the overall economic conditions. The pandemic disturbed worldwide supply chains, prominent to disruptions in the making and delivery of automobile test equipment.

Testing of the equipment is vital for estimating the presentation of electric and hybrid automobiles, embracing battery systems, electronic motors, charging infrastructure, and powertrain incorporation. Electric vehicles depend on batteries for power. Testing of an automotive equipment is vital for estimating the presentation, volume, and security of batteries. This embraces tests for battery range, charging efficiency, thermal management, and sturdiness. The prompt surge in battery technology for electric vehicles needs constant development of the equipment needed to test them.

Automakers are unceasingly spending in R&D activities to improve the effectiveness and dependability of their testing processes. This is motivating the improvement of new testing equipment technologies that can deliver quicker, more precise, and more consistent test outcomes which will surge the automotive test equipment market growth.

Comprehensive Analysis of Automotive Test Equipment Market

The market can be segmented in various ways, depending on the focus of analysis such as by location, by propulsion and by vehicle type. Based on location, the market is classified into production testing and service testing. Based on propulsion, the market is categorized into ICE and EV. Based on vehicle type, the market is segmented into passenger cars and commercial vehicles.

Asia Pacific region is dominating the automotive test equipment market share due to growing manufacturing and deals of both traditional and electric vehicles.

The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include HORIBA Ltd. (Japan), Siemens AG (Germany), Continental AG (Germany), Robert Bosch GmbH (Germany), ABB (Switzerland), PHINIA Inc. (U.S.), MAHA Maschinenbau Haldenwang GmbH & Co. KG (Germany), K.S. Engineers (Austria), Softing Automotive Electronics GmbH (Germany), Vector Informatik GmbH (Germany) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In June 2022, ORIBA UK associated with Sentronics to present a novel fuel consumption sensor, Ultrasonic Fuel Consumption Measurement Sensor, HORIBA RealFlow, for the automotive market. The sensor delivers real-time measurement of fuel consumption for automotive validation and verification test applications.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2017-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2017-2021

Growth Rate CAGR of 3.44% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Location

Production Testing

Service Testing

By Propulsion

ICE

EV

By Vehicle Type

Passenger Cars

Commercial Vehicles

By Region

North America (By Location, By Propulsion, By Vehicle Type, By Country)

U.S. (By Vehicle Type)

Canada (By Vehicle Type)

Mexico (By Vehicle Type)

Europe (By Location, By Propulsion, By Vehicle Type, By Country)

U.K. (By Vehicle Type)

Germany (By Vehicle Type)

France (By Vehicle Type)

Rest of Europe (By Vehicle Type)

Asia Pacific (By Location, By Propulsion, By Vehicle Type, By Country)

China (By Vehicle Type)

India (By Vehicle Type)

Japan (By Vehicle Type)

South Korea (By Vehicle Type)

Rest of Asia Pacific (By Vehicle Type)

Rest of the world (By Vehicle Type, By Material, By Sales Channel, By Country)


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