Global Garage Equipment Market By Garage Type (OEM Authorized Garage, Independent Garage and Franchise Garages), Installation Type (Mobile and Fixed), Function Type (Electronic and Mechanical), Equipment Type (Body Shop Equipment, Diagnostic and Test Equipment, Emission Equipment, Lifting Equipment, Washing Equipment, Wheel and Tire Equipment and Others), Vehicle Type (Passenger Vehicles and Commercial Vehicles), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights of Garage Equipment Market
Data Bridge Market Research analyses that the garage equipment market would exhibit a CAGR of 4.69% for the forecast period. Rising demand for passenger vehicles especially in the emerging economies, shifting tastes and preferences of individuals leading to increasing levels of customization in vehicles and increased focus of the manufacturers on the technological advancements are the major factors attributable to the growth of garage equipment market. This signifies that, the global garage equipment market would stand tall by USD 9.809 billion by the year 2028.
From the name itself, it is clear that garage equipment is the collection of tools, products and devices which are used by the garage owners or mechanics to provide highly advanced service quality to the customers. In other words, garage equipment such as tire changer, wheel balancer, emission equipment, and lifting equipment are used to maintain the health of the vehicles.
Growth in the airbags and safety bags in the vehicles has resulted in growth in the market value. Growth in the overall production of automobiles coupled with increasing purchasing power parity will also create lucrative growth opportunities for the market. Increased sale of second-hand/pre-owned vehicles will also foster the market growth. Stringent regulations imposed by the government on regular inspection of vehicles will further carve the way for the growth of market.
However, trade regulations and unfavourable conditions for heavy equipment will pose a major challenge to the market growth rate. Also, fluctuations in the prices of raw materials will hamper the market growth rate. High costs associated with servicing and maintenance of luxury vehicles will further restrict the scope of growth for the market.
This garage equipment market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on garage equipment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Garage Equipment Market Scope and Market Size
The garage equipment market is segmented on the basis of garage type, installation type, function type, equipment type and vehicle type. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of garage type, the garage equipment market has been segmented into OEM authorized garage, independent garage and franchise garages.
- On the basis of installation type, the garage equipment market is segmented into mobile and fixed.
- On the basis of function type, the garage equipment market is segmented into electronic and mechanical.
- On the basis of equipment type, the garage equipment market is segmented into body shop equipment, diagnostic and test equipment, emission equipment, lifting equipment, washing equipment, wheel and tire equipment and others. Body shop equipment segment is sub-segmented into welding machines, paint spray booth, preparation station and plastic repair kits. Diagnostic and test equipment segment is sub-segmented into suspension tester, play detectors, brake testers, emission testers and air-con recovery system. Lifting equipment segment is sub-segmented into single post lift, two post lift and four post lift and scissor lift. Wheel and tire equipment wheel alignment systems, wheel balancers, tire inflator and tire changer. Others segment is sub-segmented into tool kit, lube equipment, drills and grinders.
On the basis of vehicle type, the garage equipment market is segmented into passenger vehicles and commercial vehicles.
Garage Equipment Market Country Level Analysis
The global garage equipment market is analysed and market size insights and trends are provided by country, garage type, installation type, function type, equipment type and vehicle type as referenced above.
The countries covered in the garage equipment market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the garage equipment market and will continue to flourish its trend of dominance during the forecast period owing to the prevalence of advanced technologies such as internet of things and increased focus on the development of high-performance and fuel-efficient vehicles. Asia-Pacific region is set to witness unprecedented growth during the forecast period and will project the highest compound annual growth (CAGR) rate. This is because of the easy availability of raw materials and surge in the automobile production in this region.
The country section of the garage equipment market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Garage Equipment Market Share Analysis
The garage equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to garage equipment market.
The major players covered in the garage equipment market report are MAHA Maschinenbau Haldenwang GmbH & Co. KG, Snap-on Incorporated., Robert Bosch GmbH, Continental AG, Vehicle Service Group SM, VisiCon Automatisierungstechnik GmbH, Standard Tools and Equipment Co., Symach s.r.l., Otto Nußbaum GmbH & Co. KG, M/s Samvit Garage Equipments, Sarveshwari, Guangzhou Jingjia Auto Equipment Co., Ltd., Boston Garage Equipment Ltd, Arex Test Systems bv, Euro Car Parts Ltd T/A LKQ Coatings, Aro Equipments Pvt. Ltd, ISTOBAL, Con Air., Oil Lube Systems Pvt Ltd. and Gray Manufacturing among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
SKU-