Automotive Test Equipment Market - Competitive Insights, Influencing Factors, Market Size & Forecasting (2016-2028)

This detailed market study focuses on the data obtained from various primary and secondary sources and is analyzed using different tools. It helps in gaining insights about the potential of the market for growth which can facilitate the investors in identifying scope and opportunities. The analysis also provides details of each segment in the global Automotive Test Equipment Market.

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According to the report due to increasing demand from the automobile industry for various applications is expected to drive the market growth of the automotive test equipment market during the forecast period.

The increasing demand for safety and comfort features has resulted in tremendous developments and R&D initiatives by OEMs and automobile suppliers to check electronic components and comply with government regulations. Furthermore, due to the incorporation of electronic technology the overall weight of the vehicles has increased. Automotive fuel consumption and emissions regulations would improve the market demand for car test equipment.

Automotive testing methods are used to check a vehicle's quality and performance. In addition, they are used to test various other vehicle variables such as fuel consumption, fuel dilatation, etc., along with a vehicle's after tuning performance figures. There are various types of gear such as wheel alignment, engine dyno, frame dyno, etc. Testing ensures vehicles are safe and stable.

With an emphasis on both organic and inorganic growth strategies, there have been several primary developments done by major companies like Robert Bosch GmbH, Honeywell International Inc, ABB Ltd., Delphi Automotive PLC, Teradyne Inc, Advantest Corp, Horiba Ltd., and Actia S.A.

Segmentation for better understanding of this market and its growth prospects :

Based on vehicle type, the passenger car segment is expected to be the largest vehicle test equipment market during the forecast period. Growing consumer buying power and increasing demand for passenger vehicles in developing and developed countries have led to the growth of the passenger vehicle automotive test equipment industry. In addition, the increasing stringency of emission-related regulations and vehicle safety efficiency in several countries has inflated the market for automotive testing equipment.

Based on the application, the computer-based segment expected to significant growth. Computer-based testing equipment is primarily a package of hardware and software, covering all the cables, hardware and software required. The features of these computer-based systems are the ability to map and log sensor data, measure fuel efficiency, and estimate horsepower and torque.

This report provides:

1) An overview of the Global Automotive Test Equipment Market globally and related technologies.
2) Analysis of global market trends, estimates of each year and annual compound growth rate projections (CAGRs).
3) Identification of new market opportunities and targeted promotional plans for Global Automotive Test Equipment Market devices
4) Discussion of R&D and demand for new products and new applications
5) Comprehensive company profiles of key industry players.

The researchers have studied the market in-depth and have come up with major segments like product type, application, and region. Based on their market share, growth prospects, and CAGR, each and every segment and its sub-segments are studied. Each market segment offers in-depth information on market outlook, both qualitative and quantitative.

Regional segmentation and analysis to understand growth patterns:

The market has been segmented in major regions to understand the global development and demand patterns of this market. Asia Pacific region dominates the market during the forecast period due to it emerged as a hub for automobile production.

The growing consumer purchasing power has intensified the region's demand for automobiles. Price advantages for OEMs, low levels of automotive penetration and increased production of automobiles create lucrative market opportunities for automotive manufacturers and suppliers of automotive components.

Also, several major OEMs have also opened production plants in the region or joined hands with major domestic vehicle manufacturers, due to the availability of cheap labor and low cost of production. The Asia Pacific area is home to main car test equipment suppliers such as Horiba (Japan), Autel (China), and Sinfonia (Japan).

With many multinational manufacturers based in this area, North America and Western Europe were major markets for the automotive sector. In these regions, the automotive sector has been competitive in terms of technological advances and product shifts. With the development of the region's automotive sector the Middle East promises strong market potential. Countries including the UAE, Saudi Arabia, Qatar, and Iran have diversified the industrial sector over the last few decades to boost the economy.

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Key Factors Impacting Market Growth:
o Growth in demand from the automobile industry
o Increasing demand from consumers for fuel-efficient vehicles

Market Segmentation:

By Type:
Wheel Alignment
Engine Dyno
Chassis Dyno
Vehicle Emission Test System

By Vehicle Type:
Passenger Vehicles
Commercial vehicles

By Application:
Handheld Scan Tool
Computer-Based Scan Tools
Mobile Device Based Tools

By Region:
North America
By Country (US, Canada, Mexico)
By Type
By Vehicle Type
By Application

Western Europe
By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
By Type
By Vehicle Type
By Application

Eastern Europe
By Country (Russia, Turkey, Rest of Eastern Europe)
By Type
By Vehicle Type
By Application

Asia Pacific
By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
By Type
By Vehicle Type
By Application

Middle East
By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
By Type
By Vehicle Type
By Application

Rest of the World
By Region (South America, Africa)
By Type
By Vehicle Type
By Application

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This release was published on openPR.