Automotive Garage Equipment

Automotive Garage Equipment

Global Automotive Garage Equipment Market to Reach US$7.8 Billion by 2030

The global market for Automotive Garage Equipment estimated at US$6.5 Billion in the year 2023, is expected to reach US$7.8 Billion by 2030, growing at a CAGR of 2.6% over the analysis period 2023-2030. Passenger Vehicles Vehicle Type, one of the segments analyzed in the report, is expected to record a 3.4% CAGR and reach US$5.7 Billion by the end of the analysis period. Growth in the Commercial Vehicles Vehicle Type segment is estimated at 0.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.7 Billion While China is Forecast to Grow at 5.0% CAGR

The Automotive Garage Equipment market in the U.S. is estimated at US$1.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.7 Billion by the year 2030 trailing a CAGR of 5.0% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 0.5% and 1.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.3% CAGR.

Global Automotive Garage Equipment Market - Key Trends & Drivers Summarized

What Is Driving the Demand for Automotive Garage Equipment Today?

The automotive garage equipment market is expanding rapidly, driven by the rising need for advanced maintenance and repair tools in workshops and service centers worldwide. One of the key factors fueling this growth is the increasing number of vehicles on the road, particularly in developing regions, which has escalated the demand for regular servicing and diagnostic equipment. Moreover, stricter regulations regarding vehicle safety and emissions have made periodic inspections mandatory in many countries, further increasing the need for sophisticated garage equipment like diagnostic scanners, wheel aligners, and emission testing systems. The expansion of the electric vehicle (EV) segment also demands specialized garage equipment tailored to the unique maintenance needs of EVs, such as battery management tools.

How Are Technological Advancements Shaping Garage Equipment?

Technological advancements are significantly reshaping the automotive garage equipment landscape, leading to more efficient, precise, and user-friendly tools. Automation and connectivity are two major trends, with smart diagnostic tools now capable of interfacing with vehicle systems wirelessly, providing accurate and real-time diagnostics. The rise of advanced driver assistance systems (ADAS) has also necessitated specialized equipment for calibration and repair, which is being increasingly adopted by workshops. Additionally, the integration of AI and machine learning into diagnostic tools allows for predictive maintenance, thereby reducing downtime and improving service efficiency. The push towards sustainability is leading to innovations such as energy-efficient lifting systems and tools designed for recycling vehicle components.

How Are Consumer Expectations and Market Dynamics Impacting Garage Equipment?

Consumer expectations for quick and reliable service are influencing the demand for state-of-the-art automotive garage equipment. As modern vehicles become more complex, equipped with a variety of electronic control units and sophisticated systems, consumers expect workshops to have the capability to diagnose and fix problems swiftly. This expectation is pushing service centers to invest in advanced diagnostic and repair tools that minimize labor and turnaround time. Moreover, the growing popularity of electric vehicles presents a unique challenge, as traditional garage tools are not always suitable for EV maintenance, necessitating the adoption of new, specialized equipment that caters specifically to electric powertrains and battery systems.

The Growth in the Automotive Garage Equipment Market Is Driven by Several Factors.

The growth in the automotive garage equipment market is driven by several factors, including the increasing vehicle population worldwide and the growing complexity of vehicle systems, which require specialized maintenance tools. Stricter safety and emission norms have also mandated regular vehicle checks, boosting the demand for advanced diagnostic, testing, and inspection equipment. The rise of electric and hybrid vehicles has necessitated the use of unique garage tools for servicing battery and electric components. Additionally, advancements in ADAS and autonomous vehicle technologies have created a need for calibration and repair tools capable of maintaining these complex systems. Furthermore, technological integration, such as wireless diagnostics and AI-driven predictive maintenance, is making garage equipment more efficient, driving adoption across service centers.

Select Competitors (Total 46 Featured) -

• Autec Inc.
• Automotive Equipment International (Pty) Ltd.
• CEMB USA
• CORGHI
• Hennessy Industries, LLC
• Hunter Engineering Co.
• Ravaglioli S.p.A
• The Lincoln Electric Company

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