Garage Equipment Market Size, Share , Latest Trends, Key Players And Forecast To 2033

"The new report published by The Business Research Company, titled Garage Equipment Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the garage equipment market size has grown strongly in recent years. It will grow from $7.32 billion in 2023 to $7.96 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The garage equipment market size is expected to see strong growth in the next few years. It will grow to $11.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%.

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The Impact Of Electric Vehicle Adoption On The Garage Equipment Market
The increasing popularity of electric vehicles is expected to propel the growth of the garage equipment market going forward. Electric vehicles refer to automobiles that are powered by electricity stored in batteries. The popularity of electric vehicles is due to a reduction in greenhouse gas emissions and less reliance on fossil fuels compared to traditional gasoline-powered cars. Garage equipment supports EVs by providing the necessary tools and technology for their unique maintenance and repair needs. This specialized equipment helps mechanics handle everything from essential maintenance to complex diagnostics and repairs, ensuring electric vehicles' smooth operation and longevity. For instance, in April 2024, according to the International Energy Agency, a France-based intergovernmental autonomous organization, in 2023, global sales of electric cars approached 14 million, a rise from 14% in 2022. Therefore, the increasing popularity of electric vehicles is driving the growth of the garage equipment market.

Innovations In Alignment Scissor Lifts
Major companies operating in the garage equipment market are developing advanced products such as alignment scissor lifts to enhance precision in wheel alignment, improve safety, and increase efficiency in servicing electric and conventional vehicles. Alignment scissor lifts are vehicle lifts designed for precise wheel alignment, featuring adjustable platforms, high stability, and integrated lighting for inspections. For instance, in July 2022, Snap-on, a US-based machinery manufacturing company, launched the Sun SSL 6400 Alignment Scissor Lift 4T. The Sun SSL 6400 Alignment Scissor Lift 4T is a 4.8m, 4000kg capacity lift ideal for small garages and tire centers. It offers configurable turntable positioning, an open-front design, quad electro-hydraulic rams, and LED illumination for precise wheel alignments. With a certified maximum lifting capacity of 4000 kg (8800 lbs) and a lifting range of 230 mm to 1900 mm (9 into 75 in), this lift is designed for wheel alignment and is ideal for smaller garages and tire centers.

The garage equipment market covered in this report is segmented -

1) By Equipment Type: Body Shop Equipment, Diagnostic And Test Equipment, Emission Equipment, Lifting Equipment, Washing Equipment, Wheel And Tire Equipment, Other Equipment Types
2) By Garage Type: Original Equipment Manufacturer (OEM) Authorized Garage, Independent Garage, Franchise Garages
3) By Installation Type: Mobile, Fixed
4) By Function Type: Electronic, Mechanical
5) By Vehicle Type: Passenger Vehicles, Commercial Vehicles

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Major companies operating in the garage equipment market are Continental AG, Snap-on Incorporated, John Bean, Hunter Engineering Company, BendPak Inc., Launch Tech Co. Ltd., Stertil BV, Gray Manufacturing, Rotary Lift, Hofmann Equipment, EAE Automotive Equipment Co. Ltd., Ravaglioli, Giuliano Industrial S.p.A., Boston Garage Equipment, Istobal, Nussbaum Automotive Lifts Inc., Oil Lube Systems Pvt Ltd., Werther International S.p.A., Forward Lift, Con Air Equipments Pvt. Ltd., MAHA India Automotive Testing Equipment Private Limited, Sarveshwari Engineers

Contents of the report:
1. Executive Summary
2. Garage Equipment Market Report Structure
3. Garage Equipment Market Trends And Strategies
4. Garage Equipment Market - Macro Economic Scenario
5. Garage Equipment Market Size And Growth
…..
27. Garage Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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