Press release
Top Factor Driving Garage Equipment Market Growth in 2025: The Impact Of Electric Vehicle Adoption On The Garage Equipment Market
Garage Equipment Market Share
The growing popularity of electric vehicles is anticipated to drive the growth of the garage equipment market. Electric vehicles, powered by electricity stored in batteries, are gaining traction due to their ability to reduce greenhouse gas emissions and lessen dependence on fossil fuels compared to conventional gasoline-powered cars. Garage equipment plays a vital role in supporting electric vehicles by offering tools and technology necessary for their maintenance and repairs, covering everything from basic maintenance to intricate diagnostics. For example, in April 2024, the International Energy Agency reported that global electric car sales reached nearly 14 million in 2023, a 14% increase from 2022. Thus, the rising adoption of electric vehicles is fueling the growth of the garage equipment market.
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What is the future CAGR of the garage equipment market, and how will it impact industry expansion?
The garage equipment market has experienced strong growth. It will grow from $7.96 billion in 2024 to $8.7 billion in 2025, at a CAGR of 9.3%. The growth is linked to the need for continuous training of technicians, increased demand for luxury and high-performance vehicles, regulatory changes, standardization of vehicle parts, and the growing import/export of vehicles.
The garage equipment market is expected to reach $12.26 billion by 2029 with a CAGR of 9.0%. Growth factors include the impact of insurance policies on vehicle repairs, infrastructure development, consumer demand for faster services, and vehicle warranty expansion. Trends include advanced driver assistance systems, IoT integration, and 3D printing for parts.
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What are the most significant trends transforming the garage equipment market today?
Major companies in the garage equipment market are innovating with products like alignment scissor lifts to enhance wheel alignment precision, improve safety, and increase service efficiency for electric and conventional vehicles. Alignment scissor lifts are specifically designed for accurate wheel alignment and feature adjustable platforms for high stability. For instance, in July 2022, Snap-on, a US-based machinery manufacturer, introduced the Sun SSL 6400 Alignment Scissor Lift 4T, a compact lift with a 4000kg capacity and enhanced features like quad electro-hydraulic rams and LED lighting for precise alignment in smaller garages and tire centers.
Which key market segments comprise the garage equipment market and drive its revenue growth?
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
Subsegments:
1) By Body Shop Equipment: Spray Booths, Frame Machines, Dent Repair Equipment, Paintless Dent Removal (Pdr) Tools
2) By Diagnostic And Test Equipment: Vehicle Diagnostics Scanners, Tire Pressure Monitoring System (Tpms) Tools, Emission Testing Systems, Battery Testers
3) By Emission Equipment: Exhaust Gas Analyzers, Particulate Matter (Pm) Testers, Nitrogen Oxide (Nox) Analyzers
4) By Lifting Equipment: Vehicle Lifts, Floor Jacks, Scissor Lifts, Wheel Dollies
5) By Washing Equipment: Car Wash Systems, High-pressure Washers, Vehicle Cleaning Equipment
6) By Wheel And Tire Equipment: Tire Changers, Wheel Balancers, Wheel Alignment Systems
7) By Other Equipment Types: Air Compressors, Battery Chargers, Workshop Tools
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Which geographical regions are pioneering growth in the garage equipment market?
North America was the largest region in the garage equipment market in 2023. The regions covered in the garage 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 garage equipment market?
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
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What Is Covered In The Garage Equipment Global Market Report?
•Market Size Forecast: Examine the garage equipment market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the garage equipment market for a structured understanding.
•Key Players Overview: Analyze major players in the garage equipment market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the garage equipment market.
•Segment Contributions: Evaluate how different segments drive overall growth in the garage equipment market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the garage equipment market.
•Industry Challenges: Identify potential risks and obstacles affecting the garage equipment market.
•Competitive Landscape: Review strategic developments in the garage equipment market, including expansions, agreements, and new product launches.
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