Press release
Automotive Maintenance Tools Market is Considered as One of the Rapidly Growing Dynamic Markets
Automotive maintenance is necessary to ensure safety, comfort, drivability, reliability and longevity of vehicles. Currently, due to rapid advancements and requirement to reduce the time required for transport and logistics, the demand for automotive maintenance tools is increasing significantly. Automotive maintenance tools include battery filler, battery terminal cleaner, boosters, jumper cables, portable power, swivel filter wrench, creepers and creeper casters, drain and drip etc.
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Increasing industrialization has led to the surge in the logistics industry, this in turn has increased the transportation of the goods across geographies. Thus, there is an increase in the maintenance rate of the vehicles and is a major factor contributing to the growth of the global automotive maintenance tools market. Also, the flourishing automobile industry and its mandatory norms to provide each vehicle with a tool kit is the key driver of the global automotive maintenance tools market
However, skills required to operate these automotive maintenance tools is restricting the use of these tools only at service centers that can hamper its aftermarket.
Geographically, the global automotive maintenance tools market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). Eastern Europe & Western Europe are market leaders in the global automotive maintenance tools market owing to its established automobile industries. North America is the second major contributor to the global automotive maintenance tools market mainly due to its automotive hubs in the U.S. Technological advancements in automobile industry of Japan is making it a significant contributor in the global automotive maintenance tools market.
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Also, the presence of automobile companies such as Toyota Motor Corporation and Honda Motors Co. Ltd in Japan is a major factor for its growth in global automotive maintenance tools market. APEJ is anticipated to register healthy CAGR in the global automotive maintenance tools market due to a surge in the number of automobile manufacturing units being set up in this region. Middle East and Africa is recovering from its oil and gas crisis and is anticipated to have a positive landscape in the global automotive maintenance tools market and Latin America is at a nascent stage in the global automotive maintenance tools market.
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