Global Automotive Emission Test Equipment Market 2023-2030
MARKET OUTLOOK
As per Triton’s research report, the global automotive emission test equipment market is anticipated to progress with a CAGR of 5.18% during the forecast period 2023-2030.
The market’s growth is promoted by factors such as stringent government legislation to reduce vehicular emissions and directives for opacity meter use. The rising concerns pertaining to emissions have been addressed across various nations, resulting in the implementation of various rules. For instance, the US Department of Transportation introduced a nationwide program focused on lowering GHG emissions and boosting the economy. Further, the EPA has created emission guidelines under the Clean Air Act. These steps are expected to fuel the adoption of vehicle emission test equipment.
However, lack of compliance with emission norms and reduced demand for test equipment due to EV adoption hampers the overall market’s expansion globally.
REGIONAL OUTLOOK
The global automotive emission test equipment market encompasses Asia-Pacific, North America, Latin America, Europe, and the Middle East and Africa regions.
Globally, the Asia-Pacific is anticipated to emerge as the fastest-growing region over the forecast period. The region’s growth is attributed to the rising air pollution crisis across multiple nations, including China and India. In this regard, high population growth has led to a rise in demand for vehicles, which further contributes to emission levels. This has prompted several OEMs to innovate and adopt technologically advanced solutions like opacity meters. Therefore, as stated above, these factors are anticipated to create several opportunities for the automotive emission test equipment market in the near future.
COMPETITIVE OUTLOOK
The notable companies listed in the automotive emission test equipment market are Tüv Nord Group, Wager Company, SGS SA, Horiba Ltd, ABB Ltd, Capelec, AVL List GmbH, Applus+, Continental AG, Ecom America Ltd, Gemco Equipment Ltd, Opus Group AB, Robert Bosch GmbH, Sierra Instruments Inc, TEXA SpA, TÜV SÜD, Beryl Technologies LLC, CPS Products Inc, Hella Gutmann Solutions GmbH, and Premier Diagnostics.
Robert Bosch GmbH provides various products and solutions, including auto parts and accessories, motor vehicle technology, household appliances, security systems, packaging technology, and solar inverters, among others. The company serves clients across automobile, consumer electronics, and BPO industries via sales and service partners and subsidiaries. With headquarters in Germany, Robert Bosch operates across North America, Latin America, Asia-Pacific, and Middle East & Africa.