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(2023-2032) Automotive Test Equipment Global Market Trends And Forecast Report | By Types, Applications, Regions And Players Include Robert Bosch GmbH, Vector Informatik, ABB Ltd., Delphi Automotive PLC, Actia S.A
Automotive Test Equipment Global Market
Automotive Test Equipment Market Size, Growth Rate, And Forecast
The global automotive test equipment market size grew from $13.41 billion in 2022 to $14.4 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive test equipment market size is expected to grow to $19.26 billion in 2027 at a CAGR of 7.5%.
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Automotive Test Equipment Market Drivers
Growth in the adoption of autonomous vehicles is expected to propel the growth of the automotive test equipment market. The increasing availability of autonomous vehicles at affordable prices and growing customer preference for highly secured vehicles with autonomous features to reduce their driving burden have contributed to the increased adoption of autonomous vehicles across the globe.
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Automotive Test Equipment Market Segments
• By Product Type: Chassis Dynamometer, Engine Dynamometer, Vehicle Emission Test system, Wheel Alignment Tester
• By End User: Original Equipment Manufacturer (OEM) assembly plant, Original Equipment Manufacturer (OEM) R&D, technical center, Authorized Service Center
• By Vehicle Type: Passenger Car, Commercial Vehicles
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Automotive Test Equipment market.
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Automotive Test Equipment Market Key Players
Major competitors in the Automotive Test Equipment market include Robert Bosch GmbH, Vector Informatik, ABB Ltd., Delphi Automotive PLC, Actia S.A., Continental AG, Horiba Ltd., Softing AG, Teradyne Inc., Siemens AG, Denso Corporation, TÜV SÜD, PTM Electronics, DSA Daten- und Systemtechnik GmbH
The Business Research Company's "Global Automotive Test Equipment Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Automotive Test Equipment Market Include:
1. Executive Summary
2. Automotive Test Equipment Market Characteristics
3. Automotive Test Equipment Market Trends And Strategies
4. Automotive Test Equipment Market - Macro Economic Scenario
5. Automotive Test Equipment Market Size And Growth
………
28. Key Mergers And Acquisitions In The Automotive Test Equipment Market
29. Automotive Test Equipment Market Future Outlook and Potential Analysis
30. Appendix
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