According to Market Research Future (MRFR)’s assessment, the global Automotive Test Equipment Market Size is expected to resonate strong growth opportunities in the foreseeable future. The significant growth of the automotive sector is presumed to dictate the expansion of the market over the next couple of years. The report further asserts that the automotive equipment market is anticipated to exhibit steady but constant growth during the forecast period.
The original equipment manufacturers are emphasizing on product development and technological advancements. It is poised to boost the growth trajectory of the Automotive Test Equipment Market Size in the forthcoming years. Furthermore, the exponential increase in the production and demand for automobiles is likely to favor the expansion of the market over 2022.
The mandates regularizing automotive emissions are found to have a positive influence on market growth. With the emergence of stricter emission norms, the demand for automotive test equipment is presumed to mount in the forthcoming years. In addition, the concerns raised by towering road accidents on a global level is prognosticated to unleash developmental opportunities for the participants of the Automotive Test Equipment Market Size across the review period.
Segmentation
By product type, the global Automotive Test Equipment Market Size has been segmented into wheel alignment tester, engine dynamometer, chassis dynamometer, and vehicle emission test system.
By vehicle type, the Automotive Test Equipment Market Size has been segmented into light commercial vehicle, heavy commercial vehicle, and passenger cars.
By application, the global Automotive Test Equipment Market Size has been segmented into mobile device based scan tool, handheld scan tool, PC/ laptop based scan tool and others.
Regional Analysis
The global Automotive Test Equipment Market Size, by region, has been segmented into Europe, North America, Asia Pacific and the Rest of the World (RoW). Asia Pacific holds the pole position in the global marketplace owing to the thriving automotive sector of the region. The region has emerged as a manufacturing center for automobiles. It is poised to encourage the OEMs to aid the proliferation of the regional market over the next couple of years. Furthermore, the consolidation of fast-developing economies in the region is conducive to market growth.
Europe is estimated to account for the second-largest market share. The region supports a huge customer-base which when coupled with high disposable income is projected to augment the Automotive Test Equipment Market Size. The increasing demand for electric cars is expected to catapult the market on an upward trajectory.
Competitive Dashboard
Some of the key players operating in the global Automotive Test Equipment Market Size include Honeywell International Inc. (U.S.), Robert Bosch GmbH (Germany), ABB Ltd. (Switzerland), Actia S.A. (France), Delphi Automotive PLC (U.K.), Advantest Corp (Japan), Softing AG(Germany), Horiba Ltd. (Japan), and Teradyne Inc. (U.S.).
Industry News
In March 2019, Volkswagen AG, a German multinational automotive manufacturing company, has announced the expedition of its plan for the launch of zero-emission cars which would include about 70 new electric models by 2028.
In November 2018, a joint research & development team from EasyMile, a global leader in autonomous vehicle technology, and Continental, a German automotive manufacturing company, have initiated testing and development of solutions designed for driverless mobility in Singapore.
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