Global Automotive Dyno Market 2019-2023
About Automotive Dyno
An automotive dynamometer or dyno is an automotive test equipment for recording several parameters such as force, torque, power, and speed of the vehicle.
Technavio’s analysts forecast the global automotive dyno market will register a revenue of close to USD 1.2 billion during the period 2019-2023.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive dyno market for 2019-2023. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Dyno Market 2019-2023
Technavio recognizes the following companies as the key players in the global automotive dyno market: AVLLIST, HORIBA, Meidensha, and Power Test.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing vehicle population across geographies. The automotive industry is witnessing favorable conditions across multiple geographies. Vehicle production numbers, including passenger cars and commercial vehicles. stood around 101.04 million units in 2018 (as per actuals for Jan-Aug 2018. and estimated for Sep-Dec 2018), and this is expected to reach some 117.02 million units by 2023 at a CAGR of 2.98%”
According to the report, one driver in the market is increasing growth rates in APAC. The high growth rates witnessed in APAC signal a huge opportunity for automotive players. India and China will continue to remain key target markets for them during the forecast period given high consumption of vehicles in the two countries. India adopted Euro 4-equivalent emission standards, the Bharat Stage IV, in 2017.
Further, the report states that one challenge in the market is capital-intensive nature of testing facilities and dynamometer machines. Dyno machines and setup (test cells) are considered capital-intensive. The average price of an engine/chassis dynamometer machine is around $75,000. Moreover. setting up a testing facility is more expensive. The capital intensity of dynamometers makes them a huge investment for testing service providers.
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