Market Analysis: Global Automotive Test Equipment Market
Global Automotive Test Equipment Market is expected to grow to a projected value of USD 2.95 billion by 2026, rising from its initial estimated value of USD 2.14 billion in 2018, registering a CAGR of 4.13% in the forecast period of 2019-2026. This rise in market value can be attributed to the overall growth of the automotive market that has been a result of increased demand for vehicles.
Market Definition: Global Automotive Test Equipment Market
Automotive test equipment includes those devices and equipments that are used for the detection of faults and detecting the capabilities of vehicles by testing their performance and operations. These devices and equipments test the vehicles in challenging conditions and detect the efficacy and effectiveness in various scenarios such as autonomous driving effectiveness, crash prevention, damage on impact prevention and others.
- Growth in adoption of autonomous vehicles and the need for proper R&D and testing for the capabilities of autonomous vehicles
- Growing concerns regarding the environment and presence of strict regulations regarding the calculation of emissions from vehicles and automotive
- High levels of costs associated with the application and implementation of advance testing equipment; this factor is expected to act as a restraint to the market growth
Segmentation: Global Automotive Test Equipment Market
- By Product Type
- Chassis Dynamometer
- Engine Dynamometer
- Wheel Alignment Tester
- Vehicle Emission Test System
- By End Market
- OEM R&D/Technical Center
- OEM Assembly Paint
- Authorized Service Centers
- By Vehicle Type
- Commercial Vehicle
- Heavy Commercial Vehicle
- Light Commercial Vehicle
- Passenger Car
- By Application
- Mobile/Tablet Based Equipment
- PC/Laptop Based Equipment
- By Advance Technology
- ECU Testing
- Data Logger
- Simulation Testing
- Autonomous Driving Simulator
- Crash Impact Simulation
- ADAS Testing
- EV Testing
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In August 2018, Horiba announced that they had agreed to acquire Fuelcon AG. This acquisition will help expand the geographical presence of Horiba and help in the expansion of the application portfolio to electric vehicles segments.
- In April 2018, Millbrook Proving Ground announced that they had acquired Revolutionary Engineering, Inc. This acquisition will help in expanding the geographical areas that the company will service in the automotive testing capabilities.
- In April 2016, CME announced the launch of new automotive R&D and testing equipment products produced in collaboration with three automotive R&D companies. The products launched at the Automotive Testing Expo 2016 held in Chennai from April 20-22. CME has launched the HALT/HASS systems which are used for screening and identifying faults in automotive and vehicles.
Competitive Analysis: Global Automotive Test Equipment Market
Global automotive test equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive test equipment market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Automotive Test Equipment Market
Continental AG; Softing AG; ACTIA Group; ABB; Delphi Technologies; Vector Informatik GmbH; Siemens; SGS SA; Robert Bosch GmbH; Horiba; Honeywell International Inc.; TÜV SÜD; PTM Electronics; DENSO CORPORATION; DSA Daten- und Systemtechnik GmbH; Millbrook Proving Ground; Sierra Instruments, Inc.; Intelligent Technology Corp.,Ltd.; MAHA Maschinenbau Haldenwang GmbH & Co. KG; CME; MTS Systems Corporation; SINFONIA TECHNOLOGY CO., LTD.; Racelogic and MOOG INC. are few of the major competitors present in the market.
Research Methodology: Global Automotive Test Equipment Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved