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Garage Body Shop Equipment Market to Witness Exponential Growth by 2027

01-31-2018 11:38 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Garage Body Shop Equipment Market to Witness Exponential Growth

Automotive garage body shop equipment refers to technical tools used to repair vehicles by which the vehicle is easily accessible for repair and maintenance operations. Vehicle maintenance, repairs and operations (MRO) can be easily done by the use of garage body shop equipment. Maintenance services such as repairing damages, repainting, removing dents as well as overhauling highly damaged automobiles caused by major road accident can be made easier by the use of garage body shop equipment in the global market. The emerging economies where the vehicle production is in high demand is dominated by local garage workshops. The trend of hi-tech specialty mobile van garages is also picking up pace in this regions and the market for automotive garage body shop equipment is also continuously evolving. The replacement of damaged or un-operational auto-components is one of the major driving factors for the impelling growth of garage body shop equipment and its expansion is directly proportional to vehicle production in the global market. Recent research, development and innovation coupled with the technological advancement and improvements for manufacturing lifting equipment which can carry higher payloads with sleek and compact design is acting a catalyst for the growth of global garage body shop equipment market. Furthermore, the advancement in the automation industry (driven by growing population and hence higher disposable income as well as good standard of living) also motivate the growth of the global Garage Body Shop Equipment market

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Market Dynamics: Garage Body Shop Equipment Global Market

The garage body shop equipment market is estimated to gain grip in the market over the forecast period owing to significant drivers, such as noteworthy manufacturing technologies and introduction of novel materials which enhance the operational capacity of the equipment in the global market. Additionally, there are other factors which are also expected to drive the demand for garage body shop equipment, such as the growing automotive MRO industry and manufacturing sector in developed and emerging economies, rising awareness about the benefits of garage body shop equipment, growing consumer consciousness about environment-friendly equipment and other comforts. Manufacturers have strong opportunity to introduce innovative materials and equipment which are being manufactured to meet transitioning consumer demand for dent and damage removal for commercial vehicles. Automotive and oil & gas industries are expected to fuel the demand for garage body shop equipment during the forecast period. This trend in the garage body shop equipment market is estimated to increase due to the rising automotive industries, growing population across the globe.

Currently, key market participants and manufacturers in the garage body shop equipment market which have widespread presence globally dominate the market with their broad distribution network along with their innovative product portfolio, which is a key driving factor for the growth of the global garage body shop equipment market. Additionally, the rising consumer preference towards eco-friendly vehicles has encouraged manufacturers to produce good quality parts, hence they have tied up with several OEMs to develop specific products for automobiles. Lack of awareness about the advantages of garage body shop equipment systems may act as a restraint for the global garage body shop equipment system market.

Market Segmentation: Garage Body Shop Equipment Global Market

The garage body shop equipment market is segmented on the basis of product type, material component and end use.

On the basis of product type, the Garage Body Shop Equipment market is segmented into:

Lifting Equipment
Dent & Damage Removal
Surface Finish
Others
On the basis of garage type, the Garage Body Shop Equipment market is segmented into:

Automotive OEM Dealerships
Franchise Stores
Independent Garages
On the basis of vehicle type, the Garage Body Shop Equipment market is segmented into:

Two Wheeler
PCV and LCV
HCV
On the basis of sales channel, the Garage Body Shop Equipment market is segmented into:

OEM (Original Equipment Manufacturer)
Aftermarket
Regional Outlook: Garage Body Shop Equipment Global Market

Rising automotive sector in Asia-Pacific and MEA is expected to propel the demand of automotive garage body shop equipment market over the forecast period. European countries, especially the EU-5 countries are expected to grow during the forecast period which will in-turn fuel the demand of garage body shop equipment global market. Consumers in North America and Europe live a luxurious lifestyle. This united with higher disposable incomes and standard of living has led to a growth of trend of keeping their vehicles well-maintained, which is in turn estimated to propel the demand for global garage body shop equipment. Moreover, the customers in the global market have increased liking towards smooth and comfortable driving experience and hence, the market is estimated to experience rapid growth in all developed and developing countries in the future. Developing markets in the APEJ region, particularly India and China, are estimated to play a noteworthy role in the rise of the garage body shop equipment in the near future. In countries, such as India and China, automobile industries are growing at a good pace and hence, there is enormous growth prospective for garage body shop equipment in the near future.

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Key Market players: Garage Body Shop Equipment Global Market

Some of the key players in the polyurethanes additives market are:

ELGI GROUP OF COMPANIES
Manatec Electronics Private Limited
Bodyshop Solutions
MADHUS GARAGE EQUIPMENT PVT LTD
Spanesi S.p.A.
Siemens AG
The Eastwood Company.
LKQ Coatings
PRECISION TESTING MACHINES PVT. LTD
Delta Equipments.
Steck Manufacturing Company

ABOUT US:

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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Website: www.futuremarketinsights.com

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