Global Garage Equipment Market Size is estimated to expand rapidly in coming years, at a CAGR of 7.1 % from 2018 to 2025. In 2017, the global market valuation was USD 6.1 billion, and it is anticipated to be greater than USD xx.xx billion by 2025. The garage equipment market is influenced by factors such as the emergence of autonomous vehicles, the application of sophisticated technology characteristics, Electric Vehicles, and public concentrate, use of sensors information for preventive maintenance. Geographically, North America is expected to be the highest growing region in the global market of garage equipment market.
Global Market Growth Opportunities (Revenue, Growth) By 2017-2025
This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global garage equipment market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global garage equipment market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.
By Application Insights: On the basis of application, global garage equipment market has been segmented into body shop, diagnostic & testing, emission, lifting, wheel & tire, washing. Among which emission equipment segment is expected to be the highest growing segment and is expected to maintain its dominance over the forecast period. The increasing pollution level has become one of the major concern foe government as well as OEM. Government has applied stringent rules to reduce air pollution. Common emission devices include exhaust gas testing devices, diesel smoke measuring devices and emissions testing devices. This device tests different pollutants including carbon monoxide, carbon dioxide and nitrogen oxides. The hygiene circumstances of individuals residing in metropolitan regions are adversely affected by such toxic compounds current in combustion gasses. Long-term exposed to contaminating gasses can even contribute to continuing decreases in fitness.
By Type Insights: On the basis of type, global garage equipment market has been segmented into OEM, independent. Among which independent garages are expected to lead the global garage equipment market. Majority of the vehicle and car owners prefer independent garages due to the inexpensive labor costs. The use of real aftermarket products in the autonomous garages has also increased considerably so that premium car buyers can be attracted. A precautionary preventive maintenance, including regular repairs, oil checks, and more created use of authorized products and inexpensive employment expenses autonomous garages. Finding that vehicle buyers are being served from autonomous garages owing to the growing repair and maintenance costs in the OEM's licensed garages. The requirement for garage appliances in separate garages is increased by such developments.
The garage equipment market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players.
Regionally, North America is expected to be the highest growing region in the global market of garage equipment. The US is the major nation fuelling the development in the region. The automotive business in the nation is slanted towards advancement, innovation, and the improvement of elite and eco-friendly vehicles. The progressions in sensors and IoT gadgets had driven the OEMs to execute propelled highlights. The nation is expected to assume a noteworthy growth in the development of autonomous vehicles in the US. Asia Pacific region is dominating garage equipment market owing to the presence of a number of independent garages and OEM dealerships. Moreover, increasing R&D activities by government and OEM to reduce air pollution is expected to dominate the global market in the forecast period. Further, the growing demand for autonomous vehicles across the region, and growing preference of youth for sporty and powerful vehicles is estimated to boost the garage equipment market in the forecast period.
Global Garage Equipment Market Size, Share Analysis by Region 2017
Global Garage Equipment Market Study Objective
1. To forecast the market size of garage equipment market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.
2. Market analysis and forecast of garage equipment market on the basis of region, substrate, and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.
3. To analyze and elaborate significant factors that will have a major impact on the growth of garage equipment market, such as drivers, restraints, challenges, and opportunities.
4. The regional analysis of garage equipment market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa, and the Asia Pacific.
5. Strategic analysis of micro-markets, in terms of individual prospects, opportunities, growth trends and their involvement in the overall market.
6. To provide detailed analysis of competitive and strategic developments in the garage equipment market like a new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.
Key Players Landscape
Arex Test Systems B.V., Gray Manufacturing Company Inc., Snap-On Incorporated, Vehicle Service Group, Robert Bosch, Continental AG, Maha Maschinenbau Haldenwang GmbH & Co., Boston Garage Equipment Ltd are some of the key players in the market of garage equipment. These players in the garage equipment market are relied upon to profit by the arrangement of key unions with worldwide players in the garage equipment advertise. The market observers the presence of key players who have a solid worldwide presence and firm foundations, combined with differing item portfolios.
Global Garage Equipment Market Study Report Offer You!
The global garage equipment market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end-user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.
Save Your Time
Wide Range of Reports
World Class Market Research
100% Customer Satisfaction
24/7 Customer care Support
Get in touch with us quickly and easily. We are happy to help!
Let's Talk Online