Press release
2023 Automotive Test Equipment Market Size, Share, Growth, Latest Trends, Industry Analysis By 2032
Automotive Test Equipment Market
The Business Research Company's Automotive Test Equipment Global Market Report 2023 identifies adoption of autonomous vehicles as the major driver for the Automotive Test Equipment market's growth in the forecast period. 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. Autonomous vehicle manufacturers rely on automotive test equipment to ensure the vehicle performance meets international regulations and safety standards, therefore, creating an increased demand for automotive test equipment.
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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Major competitors in the Automotive Test Equipment market are 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, Millbrook Proving Ground, Sierra Instruments, MAHA Maschinenbau Haldenwang GmbH, MTS Systems Corporation, Racelogic, and Moog Ig
A key trend in the Automotive Test Equipment market includes Strategic partnerships and collaborations. Major companies operating in the automotive test equipment market are focused on strategic partnerships to develop innovative products and strengthen their market position.
Read More On The Global Automotive Test Equipment Market Report Here:
https://www.thebusinessresearchcompany.com/report/automotive-test-equipment-global-market-report
The Automotive Test Equipment market is segmented -
1) By Product Type: Chassis Dynamometer, Engine Dynamometer, Vehicle Emission Test system, Wheel Alignment Tester
2) By End User: Original Equipment Manufacturer (OEM) assembly plant, Original Equipment Manufacturer (OEM) R&D, technical center, Authorized Service Center
3) 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.
The Business Research Company's "Global Automotive Test Equipment Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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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
.......
26. Africa Automotive Test Equipment Market
27. Automotive Test Equipment Market Competitive Landscape And Company Profiles
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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