Automotive Garage Equipment Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
Global Automotive Garage Equipment Market: Overview
Vehicles play an important role in the day-to-day lives of people. As such, it is important to keep vehicles in sound condition, which requires regular maintenance of vehicles. Different equipments are needed for the maintenance of vehicles, such as lifting equipment, emission equipment, wheel balancer, and tire changer. Norms related to emission are getting increasingly strict. In addition, constant evolution in the automotive industry, including utilization of airbags for safety purposes, utilization of electronics for a safe and comfortable rise, and growing popularity of lightweight engine for fuel efficiency requires advanced equipment for its maintenance. This factor is likely to fuel development for the global automotive garage equipment market in the years to come.
The global automotive garage equipment market has been segmented based on garage type, equipment, vehicle, and region. The main objective of providing such a comprehensive report is to provide a deep insight into the market.
Global Automotive Garage Equipment Market: Notable Developments
The global automotive garage equipment market has witnessed some developments in the last few years. One of such markets developments is mentioned below:
Some of the key market players of the global automotive garage equipment market are
Global Automotive Garage Equipment Market: Growth Drivers
Technological Progress in the Automotive Industry to Shoot Up Demand in the Market
The growth of the global automotive garage equipment market is expected to be driven by the continuous technological innovation of the automation industry. Ongoing global pandemic Covid-19 has dampened the growth of the automotive industry due to lockdowns, job losses and shut down of manufacturing activities. However, it is expected that once lockdowns are lifted and business returns to normal, the automotive industry is expected to observe rapid growth. The growth of the automotive industry is likely to open up avenues of growth for the global automotive garage equipment market in the years to come.
Introduction of various new technologies including digitalization-based, advanced business models based is estimated to drive the demand for automotive garage equipment in the years to come. Besides, a rise in awareness about the safety and maintenance of vehicles is expected to boost the sales of automotive garage equipment. There has been a rise in the demand for customization, rise in the number of body shops, technical inspection centers, and vehicle repair and maintenance garages. These factors are estimated to fuel expansion of the global automotive garage equipment market in the near future.
Global Automotive Garage Equipment Market: Regional Outlook
In the last few years, Asia Pacific is estimated to emerge as one of the leading regions in the global automotive garage equipment market. The region is also likely to retain is territorial supremacy over the tenure of assessment. Such growth of the region is ascribed to the growing consumer inclination toward independent automotive garage, entry of new franchises, and need to refurbishment of existing repair stations. Rise in the number of two-wheelers and four-wheelers in countries like Vietnam, India, and China is likely to play important role in driving the growth of the global automotive garage equipment market in the near future.
The global automotive garage equipment market is segmented as:
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