Automotive Test Equipment Market is Expected to Experience Significant Growth During 2017-2022

Automotive test equipment market is expected to grow with the CAGR of approximately 6% from 2016 to 2022.

One of the key drivers of growth of the automotive test equipment market is the initiative taken by the original equipment manufacturers for the production of automotive test equipment with enhanced features. The ability of the automotive test equipment to control the stability of the vehicles and to provide rider comfort in driving, is contributing to the growth of this market. The rules and regulations laid down by the government for controlling carbon dioxide emissions from vehicles are also leading to the increased adoption of automotive test equipment. The increase in demand of automotive due to rise in the purchasing power, is also expected to contribute to the growth of this region. The stringent vehicle emission regulations laid down by emission control authorities are also expected to spur the growth in the region of North America and Europe.

The report has been analyzed based on the product type, vehicle type, application and region. On the basis of vehicle type, passenger cars segment is expected to dominate the market, owing to the increase in the demand of the passenger cars in developing economies. The passenger cars need proper testing of all components before actually being introduced on road. The automated test equipment in passenger cars helps in providing advanced safety features for the drivers.

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Asia-Pacific accounts for the highest market share
Asia-Pacific region is expected to dominate the market as it is the leading region in production of automobiles. With increase in the population and rise in the economic status of the residents in this region, the demand for automobiles is increasing rapidly. This is leading to the growth of the automotive test equipment market here. Mobile-device based scan tools are expected to witness very fast growth as all automobile manufacturers are manufacturing advanced vehicles, which are equipped with analyzing solutions and user friendly diagnostic solutions

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The key players of Global automotive test equipment market are Robert Bosch GmbH (Germany), Honeywell International Inc. (U.S.), ABB Ltd (Switzerland), Delphi Automotive PLC (U.K.), Actia S.A. (France), Advantest Corp (Japan), Horiba Ltd. (Japan), Softing AG(Germany) and Teradyne Inc. (U.S.) among others.

This research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the global engineering plastic market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.

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