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Automotive Test Equipment Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026

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The global automotive test equipment market is expected to value over $2 billion by 2026 end and recording a CAGR of 3.75% during the forecast period 2019-2026. The automotive industry is progressing at a significant level. For the product to propel
Automotive Test Equipment Market Global Trends, Market Share, Industry Size,
Growth, Opportunities, and Market Forecast 2019 to 2026
The global automotive test equipment market is expected to value over $2 billion by
2026 end and recording a CAGR of 3.75% during the forecast period 2019-2026.
The automotive industry is progressing at a significant level. For the product to
propel forward the mechanism that makes the product needs to keep up with the
technological development and so does the testing equipment.
The automotive industry has been the most popular industry and strives hard to
deliver qualitative and innovative mobility solutions. The thorough testing of vehicles
by employing ultra-modern automotive test equipment is of utmost importance to
maintain a brand image in the competitive market. Automotive test equipment is the
primary means of testing vehicles for quality control purposes to guarantee efficient
vehicle performance. Technological advancements like vehicle automation, ever
expanding vehicle manufacturing companies (both new and existing), rising demand
for automotive testing for functions like vehicle emission system, fuel and lubricant
interaction, wheel alignment, engine efficiency, etc. are factors contributing to
tremendous growth in automotive test equipment. To prevent environmental impact
stringent emission criteria is further boosting the market growth.
Global Automotive Test Equipment Market Dynamics:
The global automotive test equipment market is anticipated driven by below aspects
during the forecasted period- Stringent emission regulations in lieu of environmental awareness and need to
control the emission of harmful gases like carbon dioxide and nitrogen dioxide
- The rising automotive industry in both emerging and developed nations across the
globe
- Technological advancements in vehicle manufacturing processes
The overall automotive test equipment market is facing a challenge of:
- Delivering innovative technologically advanced automotive test equipment that
performs quality control in timesaving fashion and produces accurate results
- Market maturity in developed nations
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Global Automotive Test Equipment Market Segmentation Insights
Global Automotive Test Equipment Market, by Vehicle Type:
- Commercial Vehicle
- Passenger Cars
Passenger cars segment is the most widespread segment and is expected to
experience significant CAGR during the forecasted period. The rise in demand for
personal vehicles in emerging and developed economies due to the increase in the
purchasing power amongst the general public will also contribute to the growth of
the market for the coming years.
Global Automotive Test Equipment Market, by Product Type:
-
Vehicle Emission Test System
Wheel Alignment Test
Chassis Dynamometer
Engine Dynamometer
Global Automotive Test Equipment Market, By Application:
- PC/Laptop Based Equipment
- Mobile/Tablet-Based Equipment
PC/Laptop based equipment is estimated to account for the largest market size
during the forecast period` This equipment is primarily a hardware and software
bundle, covering all the necessary cables, hardware, and software. Used and
preferred by technicians, this segment is forecasted to grow at the highest CAGR.
Global Automotive Test Equipment Market, By End Market:
- OEM R&D/Technical Center
- OEM Assembly Plant
- Authorized Service Centers
Global Automotive Test Equipment Market, by Region:
- Europe
- North America
- APAC
- Latin America
- Rest of the World
Factors such as readily available skilled and affordable labour, favourable
government policies to encourage automotive manufacturing industry for massproduction in Asia-Pacific region are anticipated to put the region on the forefront of
global automotive test equipment market during the forecasted period.
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Competitive Landscape:
- Tier 1 players- established companies in the market with a major market share
- Tier 2 players
- Emerging players which are growing rapidly
- New Entrants
The global market is dominated by top firms such as ABB (Switzerland), Bosch
(Germany), Horiba (Japan), Honeywell (US), Siemens (Germany), and Delphi (UK).
These companies have strong global networks and offer a variety of products.
Innovation, mergers, and expansion are core strategies used by these companies.
FutureWise Takeaways
-Growth prospects
- SWOT analysis
- Key trends
- Key data points affecting market growth
Objectives of the Study:
- To provide with an exhaustive analysis on automotive test equipment market by
vehicle type, product type, application, end market, and region
- To cater comprehensive information on factors impacting market growth (drivers,
restraints, opportunities, and industry-specific restraints)
- To evaluate and forecast micro-markets and the overall market
- To predict the market size, in key regions (along with countries)—North America,
Europe, Asia Pacific, Latin America, and the Middle East
- To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
- Profiling of companies to evaluate their market shares, strategies, financials and
core competencies
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com
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