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Automotive Chassis Dynamometer Market Report 2024 To 2033 Key players Mustang Dynamometer, Ono Sokki Co. Ltd., Sierra Instruments Inc.
Automotive Chassis Dynamometer Market Share
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According to The Business Research Company's, The automotive chassis dynamometer market size has grown steadily in recent years. It will grow from $0.2 billion in 2023 to $0.21 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to increased urbanization and congestion in cities, rising consumer awareness, rise in disposable income, strong economic growth in emerging markets.
The automotive chassis dynamometer market size is expected to see steady growth in the next few years. It will grow to $0.24 billion in 2028 at a compound annual growth rate (CAGR) of 3.4%. The growth in the forecast period can be attributed to rising population density, increasing use of automation and digitalization in rolling stock, sustainable energy integration, increased connectivity and iot integration. Major trends in the forecast period include all-wheel drive (awd) dynamometer testing, integration with vehicle dynamics control systems, electric and hybrid powertrain testing, portable and modular dynamometer designs, increased emphasis on emissions testing.
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Market Drivers and Trends:
The increasing manufacturing of automobiles is expected to drive the automotive chassis dynamometer market in the forecast period. Automotive chassis dynamometers are used in vehicles to measure torque and are also used to analyze various suspension problems, environmental performance, emission performance, and overall vehicle performance. The increasing automobiles manufacturing is expected to generate high demand for this test equipment. For instance, car manufacturing in India grew to 30.82 lakh units in 2021, compared to 24.33 lakh units in 2020. Hence, the increasing production of automobiles is expected to drive the market.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Mustang Dynamometer, Ono Sokki Co. Ltd., Sierra Instruments Inc., Rototest Ab, Saj Test Plant Pvt Ltd., Kratzer Automation AG, Horiba Ltd., Meidensha Corporation, Taylor Dynamometer Inc., Power Test Inc., Dyno Dynamics, Dynapack Asia Group, Elektrodyne Industries Private Ltd., V-tech Dynamometers, Shin Nippon Tokki Co. Ltd., AVL List GmbH, SAKOR Technologies Inc., Dynojet Research Inc., MAHA Maschinenbau Haldenwang GmbH & Co. KG, Hofmann Prüftechnik GmbH, National Technical Systems Inc., Kinetic Systems Inc., SuperFlow Dynamometers & Flowbenches, AccuDyne Systems Inc., BOSCH Automotive Service Solutions Inc., Spoon Sports USA, Froude Hofmann Ltd., Racelogic Ltd., Chassis Dynamometer Services Inc., OPELMEX
Automotive Chassis Dynamometer Market 2024 Key Insights:
• The automotive chassis dynamometer market size is expected to see steady growth in the next few years. It will grow to $0.24 billion in 2028 at a compound annual growth rate (CAGR) of 3.4%.
• Increased Automobile Manufacturing Fuels Demand For Automotive Chassis Dynamometers
• The Rise Of Portable Chassis Dynamometers In The Automotive Industry
• Asia-Pacific was the largest region in the automotive chassis dynamometer market in 2023
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