"Empowering Mechanics: Unlocking Opportunities in the Automotive Repair Industry"

 The global automotive garage equipment market in 2022 was US$ 24.4 billion and is estimated to be US$ 26.8 billion in 2023. Future Market Insights has mentioned in its reports that the smart agriculture solution market is predicted to expand at a CAGR of 8.94% between 2023 and 2033, totalling around US$ 63.1 billion by 2033.

One of the key trends influencing the market is the introduction of digitalization in the automobile sector. Additionally, the creation of new mobility solutions is being encouraged by automation in software, systems, and services, which is raising the need for repair and maintenance services.

For autonomous, hybrid, and electric vehicles, numerous automakers are investing in the development of electric and digital technology. On the market, this is anticipated to have a favourable effect.

Consumers all around the world are choosing lightweight automobiles and two-wheelers due to growing worries about carbon emissions, which has led to a significant increase in the market for electric and hybrid passenger vehicles.

Numerous independent and franchised garages provide services designed exclusively for small, electric automobiles at reasonable pricing. Further driving up sales of automotive garage equipment is the soaring need for emission equipment in both new and used passenger vehicles.

For more information: https://www.futuremarketinsights.com/reports/automotive-garage-equipment-market

Key Takeaways from the Market Study

  • The global automotive garage equipment market expanded at a CAGR of 7.12% between 2017 and 2022.
  • Demand for automotive garage equipment is projected to increase at a 4.3% CAGR, in comparison with the 3.7% CAGR registered between 2018 and 2022.
  • The United States is home to a large automotive industry holding a significant part with a value share of 31.2%.
  • North America’s automotive garage market is expected to account for 36.9% of the total market share.
  • China is expected to set to account for 40.3% of the global market share.
  • Japan holds a market share of 16.9%.
  • Introduction of new franchisee garages in India is expected to boost the market in the forthcoming years with a CAGR of 7.15%.
  • Increasing sales of two-wheelers such as mopeds, motorbikes, and scooters in the country are expected to boost the market in Australia at a CAGR of 6%.
  • Europe’s automotive garage equipment market is forecasted to account for 54.1% of the total market share, notably driven by increasing sales of luxury vehicles.
  • Two-wheeler mobility solutions in the United Kingdom at a CAGR of 7.92%.
  • Refurbishment of old garages is likely to drive sales of garage lift systems.
  • Sales of lifting equipment are expected to remain high over the assessment period with a market share of 44%.
  • Servicing premium cars are estimated to boost demand for independent garages for car workshops.
  • Inexpensive labor costs and the growing availability of premium car servicing equipment might drive sales with a market share of 33.2%.
  • Increasing repair services for passenger vehicles is expected to boost sales of light vehicles.
  • Sales in the light vehicles segment are projected to increase over the forthcoming years with a market share of 23.1%.

High demand for electric and hybrid passenger vehicles across the globe acts as one of the major drivers of the automotive garage equipment market”, comments a Future Market Insights Analyst.

Key Innovation of the Market Players in the Market

  • In June 2023, ISTOBAL showcased its new M'WASH3 PRO rollover at Autozum 2023, the leading Austrian trade show for the car wash, service station, and dealership industry, held at Messezentrum Salzburg (Stand 09-0200).

The company is exhibiting for the first time at a show and on the international market. This innovative high-end equipment is aimed at increasing profitability in carwashes and improving the user experience through efficient and connected technology.

Some of the prominent players in the global market are-

  • MAHA Maschinenbau Haldenwang Gmbh & Co. KG
  • Snap-on Incorporated
  • Robert Bosch GmbH
  • Continental AG
  • Forward Lift Company (Dover Corporation)
  • VisiCon Automatisierungstechnik GmbH
  • Standard Tools and Equipment Co.
  • Symach Srl
  • Nussbaum Automotive Solutions
  • SAMVIT GARAGE EQUIPMENT
  • Sarveshwari Engineers
  • PULI Industries (Guangzhou Jingjia Auto Equipment Co., Ltd.)
  • Boston Garage Equipment Ltd.
  • Arex Test Systems B.V.
  • LKQ Coatings Ltd.
  • Aro Equipments Pvt. Ltd
  • Istobal S.A.
  • Con Air Equipment Private Limited
  • Oil Lube Systems Pvt Ltd.
  • Gray Manufacturing Company, Inc.

Comments

Post a Comment

Popular posts from this blog

Electric Vehicle Charging Station Market Analysis and Market Studies To 2033

  The global   electric vehicle charging station market   is projected to have a high-paced CAGR of 26.6% during the forecast period. The current valuation of the EV charging station market is US$ 10,768.2 Million in 2023. The value of the EV charging station market is anticipated to reach a high of US$ 113,889.1 Million by the year 2033. Restrictive pollution and fuel economy rules, government incentives, and an increase in the number of electric car sales are all factors driving the demand for Electric Vehicle charging station. Advancements in technology and software for electric vehicle charging are predicted to change how EV owners use and benefit from these services. Smart car API and charging networks, for instance, accurately determine an electric vehicle's charge time before the driver plugs the car into a station. Green energy is also projected to play an important role in both public and household electric vehicle charging locations. For owners of EVs, carbon emissions ar
Read more

"Market Shifts: Adapting to Changing Trends in the Automotive Turbocharger Sector"

  The global   automotive turbochargers market   is projected to have a high-paced CAGR of 9.5% during the forecast period. The current valuation of the automotive turbochargers market is US$ 14.3 Billion in 2023. The value of the automotive turbochargers market is anticipated to reach a high of US$ 35.4 Billion by the year 2033. Some key features driving the demand for automotive turbochargers are last-mile delivery and ever-changing mobility services. The present conventional turbocharger market is predicted to develop slowly due to the maturation of the sector and the quick shift to hybrid cars in the face of tight restrictions. Nonetheless, the leading players are developing improved turbos for fuel cells and electric cars, resulting in a massive potential addressable market throughout the projection period. Request a Sample of this Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-135 Moreover, regulatory authorities, such as the United States Environmental Protec
Read more

Aircraft Cabin Interior Market Revenue, Future And Business Analysis By Forecast 2031

  According to ESOMAR-certified Future Market Insights’ (FMI), the  aircraft cabin interior market  is expected to expand at 2.70% CAGR throughout the forecast period. The market is highly competitive with United Technologies Corporation, Safran S.A., Diehl Stiftung & Co. KG, HAECO Group, Honeywell International, Inc., and Panasonic Avionics Corporation encompassing around 50% of global market shares. According to International Civil Aviation Organization, incorporation of low-cost carrier aircrafts in air transport sector has significantly influenced the aircraft cabin interior market. Thriving tourism sector, increase in air traffic, and growing flight iteration are factors driving the market growth. Surge in new aircraft orders and rising popularity of in-flight entertainment system and aesthetic lighting system will proliferate the market demand in upcoming years. Aircraft cabin interior market is anticipated to grow at a healthy pace owing to increasing demand for custom, luxu
Read more