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Driving Automotive Garage Equipment Market Growth in 2025: The Role of Autonomous Vehicles Propel Surge In The Automotive Garage Equipment Market
Automotive Garage Equipment
What Will the Automotive Garage Equipment Industry Market Size Be by 2025?
The market size for automotive garage equipment has experienced significant growth in the recent past. It is projected to escalate from $8.74 billion in 2024 to $9.41 billion in 2025, yielding a compound annual growth rate (CAGR) of 7.7%. Factors such as the increased demand for automotive repair and maintenance, strict emission norms, growth of independent repair facilities, safety and inspection policies, along with government efforts towards the automotive industry have contributed to this growth during the historical period.
What's the Long-Term Growth Forecast for the Automotive Garage Equipment Market Size Through 2029?
The market size of automotive garage equipment is projected to exhibit robust expansion in the coming years, with an expected valuation of $13.01 billion in 2029 and a compound annual growth rate (CAGR) of 8.4%. The expected growth during the forecast timeline can be ascribed to the development of electric vehicle charging infrastructure, accessibility of fleet management services, emphasis on energy-efficient equipment, sustainability, and eco-friendly approaches, and efforts towards retrofitting and upgradation. The advancement in technology, diagnostic and calibration tools, automation and robotics, remote supervision and upkeep, and subscription-based diagnostic tools will be the key trends in the forecast period.
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What Are the Key Growth Drivers Fueling the Automotive Garage Equipment Market Expansion?
The emergence of self-driving cars is significantly fueling the expansion of the automotive garage equipment industry. These autonomous vehicles, which can function without a human operator, come in various types depending on their level of automation. Their prevalence is on an upward trend since future transport solutions in the car industry are expected to lean heavily on automated systems, software, and services. Automotive garage equipment is adapting in line with green legislation and the changing consumer attitudes towards safety and efficiency. For example, Arizona-based Gerber Injury Law predicts that the production of autonomous vehicles will hit 800,000 units worldwide between 2023 and 2030. Furthermore, Carsurance, a website providing details and resources about car insurance companies, predicts a 16% annual growth in the autonomous vehicle sector. This rise in autonomous vehicles is indeed propelling the expansion of the automotive garage equipment industry.
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What Are the Key Trends Driving Automotive Garage Equipment Market Growth?
Leading companies in the automotive garage equipment market are spearheading efforts to roll out advanced solutions such as automatic car washing. This system performs the vehicle exterior cleaning operation without manual input, utilizing automated machinery and equipment. Midtronics, a U.S. company with a specialization in crafting advanced battery management equipment for the automotive industry, made headlines in November 2023 with the launch of their MVT handheld battery tester. This device is designed with several applications in mind, focusing specifically on providing a precise analysis of discharged in-vehicle batteries without the need for pre-charging. It offers instantaneous results, requiring minimum user intervention, making it suitable for swift lane examination scenarios. The tester is capable of evaluating batteries even in situations where the Cold Cranking Amps (CCA) rating isn't apparent or during vehicle system noise disruptions, guaranteeing dependable operation under tough circumstances.
How Is the Automotive Garage Equipment Market Segmented?
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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Which Companies Are Leading the Charge in Automotive Garage Equipment Market Innovation?
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
Which Regions Are Leading the Global Automotive Garage Equipment Market in Revenue?
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.
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