Global automotive test equipment market
Global automotive test equipment market was valued at US$ 2.23 Bn in 2019 and is expected to reach US$ 3.12 Bn by 2027, at a CAGR of 3.94% during a forecast period.
Automotive test equipment is used to test the impact on handbrake tension, engine oil consumption, and interaction between fuel and lubricant. Automotive test equipment aid maintains the efficiency of the overall performance of the vehicle, hence play a vital role in enhancing the overall life of the vehicle.
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The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding automotive test equipment market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in automotive test equipment market.
Growing public preference toward vehicles with improved control over stability and more riding comfort is expected to fuel the automotive test equipment market during the forecast period. Efforts are in progress to improve hybrid vehicles across the world. Hybrid vehicles are the combination of petrol or diesel engines with electric motors. Augmented maintenance of diesel engines is estimated to boost the automotive test equipment market during the forecast period. Moreover, increasing sales of electric vehicles are also estimated to strengthen the growth of automotive test equipment market in upcoming years. Emergent automobile aftermarket services is also a major factor which is likely to boost the growth of market. However, presence of on-demand taxi operators and rising preference for public transport among a part of population are restraining the sales of new vehicles. This factor is expected to impede the growth of market over the forecast period.
Passenger vehicle segment is expected to witness significant growth during the forecast period. Rising purchasing power of customers and growing demand for passenger vehicles in emerging and advanced countries have contributed to the growth of the automotive test equipment market for passenger vehicles. Moreover, the increasing stringency of mandates related to emissions and vehicle safety performance in some countries has inflated the demand for automotive test equipment.
A chassis dynamometer is to measure vehicle performance with the aid of torque and speed measurements taken from roller drums that load the vehicle drive train through contact with the wheels. Various types of chassis dynamometers are used for the testing of LCVs and HCVs, depending upon the capacity of a vehicle. Owing to strict emission norms and demand for accuracy, mostly 1 roller chassis dynamometer is used in place of 2 rollers for enlargement of new vehicles.
Asia Pacific is projected to account for the largest market share during the forecast period owing to the availability of cheap labor and low production cost, many major OEMs have launched production plants. Increasing purchasing power of consumers has triggered the demand for automobiles in the region. North America is expected to hold a significant market share over the forecast period owing to the early adoption of automotive up-gradation and increasing consumer preference for advanced vehicles.
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Scope of the Global Automotive Test Equipment Market
Global Automotive Test Equipment Market by Vehicle
• Passenger Vehicle
• Commercial Vehicle
Global Automotive Test Equipment Market by Product
• Engine Dynamometer
• Chassis Dynamometer
• Vehicle Emission Test System
• Wheel Alignment Tester
Global Automotive Test Equipment Market by Application
• Mobile/Tablet Based Equipment
• PC/Laptop Based Equipment
Global Automotive Test Equipment Market by End Market
• OEM Assembly Plant
• OEM R&D /Technical Center
• Authorized Service Center
Global Automotive Test Equipment Market by Geography
• North America
• Middle East & Africa
• South America
Key Players operating in the Global Automotive Test Equipment Market
• Honeywell Industrial Inc.
• Siemens AG
• Robert Bosch GmbH
• ABB Ltd
• Delphi Automotive PLC
• Softing AG
• Horiba Ltd.
• SGS S.A
• Actia S.A.
• AVL List GmbH
• Sierra Instruments
• SPACE S.R.L
• Freese Enterprises
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