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Automotive Garage Equipment Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Automotive Garage Equipment
What Is the Projected Growth of the Automotive Garage Equipment Market?
The size of the automotive garage equipment market has expanded robustly in recent times. It is projected to increase from a value of $8.74 billion in 2024 to reach $9.41 billion in 2025 with a compound annual growth rate (CAGR) of 7.7%. The historical growth is linked to increased demand for automotive repair and maintenance, strict emission standards, the proliferation of independent repair boutiques, safety and inspection rules, and government schemes for the automotive industry.
The market size of automotive garage equipment is anticipated to undergo robust expansion in the imminent years, escalating to a figure of $13.01 billion in 2029, with a compound annual growth rate (CAGR) of 8.4%. This progression during the projected period is credited to factors such as the development of electric vehicle charging infrastructure, enhancements in fleet management services, emphasis on energy-efficient apparatus, sustainable protocols, and practices focused on minimising environmental impact, as well as retrofitting and upgrading activities. Noteworthy trends during this forecast period encompass technological progress, the use of diagnostic and calibration tools, automated systems and robotic solutions, remote monitoring and maintenance services, alongside subscription-based diagnostic devices.
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What Are the Different Automotive Garage Equipment Market Segments?
The automotive garage equipment market covered in this report is segmented -
1) By Installation Type: Mobile, Fixed
2) By Vehicle Type: Passenger Cars, Commercial Vehicles
3) By Type: Lifting Equipment, Body Shop Equipment, Wheel And Tire Service Equipment, Vehicle Diagnostic And Testing Equipment, Washing Equipment, Other Types
4) By Application: Automotive OEM Dealerships, Franchise Stores, Independent Garages
Subsegments:
1) By Mobile: Portable Car Lifts, Mobile Tire Changing Machines, Handheld Diagnostic Tools, Portable Wheel Balancers, Mobile Air Compressors
2) By Fixed: In-Ground Lifts, Above-Ground Lifts, Alignment Racks, Fixed Tire Changers, Dedicated Workstations
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What Are the Primary Drivers Shaping the Automotive Garage Equipment Market?
The rise of autonomous vehicles significantly influences the expansion of the automotive garage equipment market. Autonomous vehicles refer to cars capable of functioning without human intervention. A variety of self-driving cars exist, each differing based on how automated they are. The progression of autonomous vehicles suggest future automotive industry changes will be majorly influenced by systems, software, and services automation. The evolution of automotive garage equipment is a reaction to environmental regulations and changing consumer focus on safety and efficiency. For example, Gerber Injury Law, a law firm based in Arizona, predicts that the manufacture of autonomous vehicles will attain the 800,000-unit milestone globally between 2023 and 2030. Additionally, according to Carsurance, a website with resources and information about car insurance companies, the autonomous vehicle sector is expected to grow by 16% annually. Consequently, the rise of autonomous vehicles prompt the expansion of the automotive garage equipment market.
Which Companies Are Leading in the Automotive Garage Equipment Market?
Major companies operating in the automotive garage equipment market include Robert Bosch GmbH, Continental AG, Boston Garage Equipment Ltd, Snap-On Incorporated, The Lincoln Electric Company, Forward Lift Company, Falcon Machine Tools Co. Ltd., Vehicle Service Group, CORGHI, Oil Lube Systems Pvt Ltd, Con Air Equipment Private Limited, Manatec Electronics Private Limited, Gray Manufacturing Company Inc., Autec Inc., Standard Tools and Equipment, Ravaglioli S.p.A., Sarveshwari Engineers, VisiCon Automatisierungstechnik GmbH, Maha Maschinenbau Haldenwang GmbH & Co. KG, Istobal S.A., Symach, PULI Industries, Aro Equipments Pvt. Ltd., Automotive Equipment International (Pty) Ltd., SAMVIT GARAGE EQUIPMENTS, Arex Test Systems B.V., Nussbaum Automotive Solutions
What Are the Major Trends Shaping the Automotive Garage Equipment Market?
Key players in the automotive garage equipment market are prioritizing the development and launch of advanced solutions, such as automatic car washing systems. These systems are designed to clean the exterior of vehicles using automated machinery, eliminating the requirement for manual work. For example, in November 2023, US company Midtronics - renowned for the development and manufacture of industry-leading battery management equipment and services - unveiled the MVT handheld battery tester. This versatile device is perfect for multiple automotive service applications, delivering precise diagnoses of discharged in-vehicle batteries without any need for prior charging. The user-friendly tester provides immediate test results and excels in rapid testing situations. Importantly, it can evaluate batteries even if the Cold Cranking Amps (CCA) rating isn't visible, or in case of vehicle system noise interference, ensuring trustworthy performance in tough circumstances.
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What Are the Top Revenue-Generating Geographies in the Automotive Garage Equipment Market?
Asia-Pacific was the largest region in the automotive garage equipment market in 2024. The regions covered in the automotive garage equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Garage Equipment Market?
2. What is the CAGR expected in the Automotive Garage Equipment Market?
3. What Are the Key Innovations Transforming the Automotive Garage Equipment Industry?
4. Which Region Is Leading the Automotive Garage Equipment Market?
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