The global automotive test equipment market size was evaluated at $3.40 billion in 2023 and is slated to hit $5.09 billion by the end of 2032 with a CAGR of nearly 4.57% between 2024 and 2032.
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Market for Automotive Test Equipment: Development Prospective Factors
The implication of quality checks on vehicles is driving the global acceptance of automotive testing equipment. The control of the general performance, lifetime, and operation of a vehicle depends mostly on automotive test equipment. They are implied in closely examining engine wear, engine oil consumption, fuel dilution, lubrication aeration, hand brake tension.
The automobile testing tools guarantees general vehicle performance, safety, efficiency, and functionality. The global safety criteria for the automobile sector probably will drive the market for automotive test equipment in the next years. To follow strict safety criteria set by their individual governments, the original equipment manufacturers (OEMs) of cars all throughout the world mostly depend on automotive testing equipment. Rising concern of automotive OEMs about technical advancement and up-gradation of automotive test equipment is expected to boost the automotive test equipment market over the stated timeframe.
Future growth in the automotive test equipment market is expected to be mostly attributed to the growing demand for highly efficient vehicles. Still, the additional technical up-grading costs could affect the future automobile test equipment industry.
Together with market trends, drivers, and limitations of the automotive test equipment industry, this paper presents a thorough study of the global automotive test equipment. This study features a thorough competitive scenario and product line of the main suppliers. Furthermore included is a study of Porter’s Five Forces model for the market to help one grasp the competitive terrain in it.
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The Global Automotive Test Equipment Market is segmented based on product, application and region
Global Automotive Test Equipment Market: Product Segment Analysis
● Chassis Dynamometer
● Engine Dynamometer
● Wheel Alignment Tester
● Vehicle Emission Test System
Global Automotive Test Equipment Market: Application Segment Analysis
● Handheld Scan Tool
● Mobile Device-Based Scan Tool
● PC/Laptop-Based Scan Tool
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The Global Automotive Test Equipment market profiles key players such as:
● Siemens AG
● ACTIA Group S.A
● Robert Bosch GmbH
● Delphi Automotive PLC
● ABB Ltd
● EM TEST GmbH
● Presto Stantest Pvt. Ltd
● Sierra Instruments, Inc
● Moog, Inc
The automotive test equipment market by geography comprises North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. Growing security issues among big businesses mean North America is probably going to play a significant role in the global automotive test equipment market going forward. Thanks to the presence of internationally well-known automotive test equipment manufacturers like Siemens in the area, the European automotive test equipment market is expected to show interesting expansion in the next years.
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