COVID-19 impact on Automotive Test Equipment Market

The COVID-19 pandemic has led to the suspension of vehicle production and supply disruptions, which have brought the automotive industry to a halt. Lower vehicle sales will be a major concern for automotive OEMs for the next few quarters. According to experts, there is a slim chance of vehicle sale recovery in 2020. However, the automotive test equipment might experience an increased growth rate, which can be attributed to the increasing regulations concerned with the GHG emission from the vehicles. The increasing energy conservation movement/regulations concerned with automobiles will also impact the automotive test equipment market positively.

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Major automotive test equipment providers such as Bosch, Continental, etc. have announced the suspension of production due to the lowered demand, supply chain bottlenecks, and to protect the safety of their employees in France, Germany, Italy, and Spain during the COVID-19 pandemic. As a result, the demand for automotive testing equipment is expected to decline in 2020. Manufacturers are likely to adjust production to prevent bottlenecks and plan production according to demand from OEMs and tier 1 manufacturers.

The global Automotive Test Equipment Market size is expected to show growth at a CAGR of 4.1% from USD 3.0 billion in 2020 to reach USD 3.7 billion by 2025. Increasing vehicle production and stringent government regulations pertaining to vehicle testing are anticipated to boost the automotive test equipment market. Moreover, the major factors driving this growth are increasing vehicle production and rising electronic architecture in modern vehicles.

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The vehicle emission test system segment is projected to have the highest growth rate in the automotive test equipment market, by product type, during the forecast period of 2020-2025. Various countries across the globe are coming up with stringent regulations concerned with emission testing, for instance, in India, all new cars are expected to be issued with pollution certificates which are expected to be valid for a year, post which, vehicles need to be tested for pollution levels every six months.

Mobile/ tablet-based equipment is projected to have the highest growth rate in the automotive test equipment market, by application, during the forecast period of 2020-2025. Technological advancements have enabled make mobiles and tablets much smarter and efficient. The fact that these are much more mobile and data easily accessible enables the growth of the mobile/tablet-based equipment segment.

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Key Players

The global automotive test equipment market is dominated by major players such as ABB (Switzerland), Robert Bosch GmbH (Germany), Horiba Ltd(Japan), Honeywell (US), Siemens AG (Germany), and Delphi Technologies (UK).

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• Automotive Test Equipment Market, By Advanced Technology at the regional level
• Automotive Test Equipment Market, By Product Type at country level
• Automotive Test Equipment Market, By End Market at country level

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This release was published on openPR.