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Rise In The Adoption Of Autonomous Vehicle Driver: A Major Catalyst in the Evolution of the Automotive Test Equipment Market in 2025
Automotive Test Equipment Market Size
The progression in the acceptance of autonomous vehicles is anticipated to fuel the expansion of the automotive test equipment market. The rising accessibility of autonomous vehicles at reasonable costs and the escalating customer preference for highly safe vehicles equipped with autonomous functionalities that lessen their driving responsibilities have been instrumental in the escalated usage of autonomous vehicles worldwide. The manufacturers of autonomous vehicles depend on automotive test equipment to verify that the vehicle's performance aligns with global regulations and safety guidelines, hence causing a surge in demand for automotive test equipment. For example, in December 2022, according to a study by the Insurance Institute for Highway Safety, a U.S-based charity, it is forecasted that 3.5 million autonomous vehicles will be functioning on American highways by 2025. In addition, 4.5 million autonomous vehicles are predicted to be in operation by 2030. Consequently, the growing demand for semi-autonomous and autonomous vehicles propels the expansion of the automotive smart display market. Hence, the surge in the acceptance of autonomous vehicles is likely to stimulate demand for automotive test equipment during the prediction period.
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What is the future CAGR of the automotive test equipment market, and how will it impact industry expansion?
In recent times, the size of the automotive test equipment market has shown vigorous growth. It is projected that the market will increase from $14.87 billion in 2024 to $15.7 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.6%. Factors attributing to this growth in the historical period include the demand for safety and regulatory compliance, consumer safety worries, the escalating complexity of vehicles, and the worldwide expansion of automotive manufacturing.
The market size for automotive testing equipment is anticipated to experience significant expansion in the forthcoming years. The market is projected to increase to $20.81 billion by 2029, with a compound annual growth rate (CAGR) of 7.3%. The propelling factors for growth during the predicted period include the evolution of electric and self-driving vehicles, environmental evaluation for electric vehicles, software and firmware examination, cybersecurity scrutiny, the transition to shared mobility, and end-of-line trials. Key trends that will be prominent during the prediction period encompass connectivity and advanced driver-assistance systems (ADAS), the fourth industrial revolution and intelligent manufacturing, electromagnetic compatibility (EMC) testing, incorporating artificial intelligence (AI), and simulation alongside virtual testing.
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What are the most significant trends transforming the automotive test equipment market today?
Key businesses in the automotive test equipment market are prioritizing the creation of technologically forward products, like ADAS test equipment, in their strategy to ensure modern vehicles' safety, reliability, and performance. ADAS test equipment is a specialized assortment of tools and systems designed to assess and verify the efficacy, precision, and safety of Advanced Driver Assistance Systems (ADAS) in automobiles, confirming their correct functionality in diverse conditions. For example, AB Dynamics, a UK-based automotive test and verification solutions provider, introduced its ADAS/AV test equipment, the LaunchPad Spin, in March 2023. Engineered to mimic demanding urban test situations, the LaunchPad Spin simulates dynamic movements and accommodates several vulnerable road user (VRU) targets. It has a maximum speed of 30 km/h (20 mph) and features torque vectoring driven wheels and a precision steered front wheel capable of continuous 360-degree rotation without an end stop. This innovative combo gives the platform supposedly unrivaled market maneuverability, enabling it to accurately depict abrupt direction changes that give drivers or AEB systems limited reaction time.
Which key market segments comprise the automotive test equipment market and drive its revenue growth?
The automotive test equipment market covered in this report is segmented -
1) By Product Type: Chassis Dynamometer, Engine Dynamometer, Vehicle Emission Test system, Wheel Alignment Tester
2) By Vehicle Type: Passenger Car, Commercial Vehicles
3) By End User: Original Equipment Manufacturer (OEM) assembly plant, Original Equipment Manufacturer (OEM) R&D, technical center, Authorized Service Center
Subsegments:
1) By Chassis Dynamometer: Eddy Current Chassis Dynamometers, Load Control Chassis Dynamometers, All-Wheel Drive Chassis Dynamometers,
2) By Engine Dynamometer: Hydraulic Engine Dynamometers, Electrical Engine Dynamometers, AC Or DC Engine Dynamometers
3) By Vehicle Emission Test System: Portable Emission Measurement Systems (PEMS), On-Board Diagnostics (OBD) Systems, Exhaust Gas Analyzers
4) By Wheel Alignment Tester: 2D Wheel Alignment Systems, 3D Wheel Alignment Systems, Portable Wheel Alignment Systems
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What regions are at the forefront of automotive test equipment market expansion?
Asia-Pacific was the largest region in the automotive test equipment market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive test equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the automotive test equipment market?
Major companies operating in the automotive test equipment market include Robert Bosch GmbH, Vector Informatik GmbH, Asea Brown Boveri Ltd., Siemens AG, Actia SA, Continental AG, Horiba Ltd., Softing AG, Teradyne Inc., MTS Systems Corporation, Denso Corporation, Technischer Überwachungsverein SÜD, PTM Electronics Inc., MAHA Maschinenbau Haldenwang GmbH & Co. KG, DSA Daten- und Systemtechnik GmbH, Millbrook Proving Ground Ltd., Sierra Instruments Inc., Snap-on Incorporated, AVL List GmbH, Delphi Technologies, SGS SA, Honeywell International Inc., SAKOR Technologies Inc., National Instruments Corporation, Cosworth Ltd., Danaher Corporation, MK Test Systems Ltd., Sun Electric Corporation, Cincinnati Test Systems Inc., Dewesoft d. o. o
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What Is Covered In The Automotive Test Equipment Global Market Report?
•Market Size Forecast: Examine the automotive test equipment market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive test equipment market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive test equipment market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive test equipment market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive test equipment market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive test equipment market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive test equipment market.
•Competitive Landscape: Review strategic developments in the automotive test equipment market, including expansions, agreements, and new product launches.
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