Automotive Test Equipment Market by Product (Engine, Chassis, and Transmission Dynamometer, Vehicle Emission, Wheel Alignment, & Fuel Injection Pump Tester), End Market, Vehicle, Application, Advance Technology, and Region - Global Forecast to 2025
“Strict government regulations regarding fuel efficiency and carbon emissions and an increase in sales of passenger cars and commercial vehicles have driven the automotive test equipment market globally.”
The global automotive test equipment market size is estimated to grow from USD 3.0 billion in 2020 at a CAGR of 4.1% to reach USD 3.7 billion by 2025. Increased advancements in the test equipment technology will boost the automotive test equipment market. However, maintaining a balance between high accuracy, performance, quality, and cost act as a hurdle for the growth of the automotive test equipment market.
“Improved performance of the PC/laptop equipment, in terms of processing power and storage, is expected to drive the PC/laptop-based equipment market.”
PC/Laptop based testing equipment is primarily a hardware and software bundle, covering all the necessary cables, hardware, and software. These PC-based systems are boasted with an extremely rich feature-set, such as the capability to plot and log sensor data, calculate fuel efficiency, estimate horsepower, and torque.
Main highlights of this segment
Large, easy-to-read display; capable of displaying graphs, fuel maps, and digital gauges in full color.
Unlimited processing power: For calculating and graphing real-time parameters on-the-fly, without any lag.
Gigabytes of storage: Worth of data recording capability.
A wide selection of diagnostic software that can be easily updated
“OEM R&D/technical center market is projected to grow fastest during the forecast period.”
Heavy investments by vehicle manufacturers in research and development for the automobile technologies are contributing to the growth of the test equipment market. To offer high-quality products and features in the vehicles, the automakers make various automotive components that undergo testing processes to comply with the standards as per the regulations. This factor makes the R&D centers of vehicle manufacturers a major testing hub for the assessment of several automotive mechanisms and advanced technologies. Hence, the OEM R&D/technical center market of the automotive test equipment market, by the end market type, is projected to grow the fastest.
“North America is expected to record the second largest market during the forecast period.”
Asia Pacific is estimated to be the largest automotive market, followed by North America and Europe. North America is home to leading vehicle manufacturers such as Ford Motors, General Motors, and Tesla. The North American automotive industry has witnessed rapid development because of favorable policies adopted by the governments in the manufacturing sector. The US is estimated to account for the largest share of the North American automotive test equipment market during the forecast period. The US automotive industry is highly inclined toward innovation, technology, and the development of high-performance and fuel-efficient vehicles. Factors such as stringent emission norms and rising demand for vehicle dynamics are expected to propel the automotive test equipment market in North America.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the automotive test equipment market.
By Company Type: OEM - 45% Tier I - 30%, Tier II - 15%, and Tier III - 10%,
By Designation: C Level Executives - 35%, Directors - 25%, and Others - 40%
By Region: North America - 30%, Europe - 20%, Asia Pacific - 35%, Rest of the World- 15%
The automotive test equipment market comprises of major manufacturers such as ABB (Switzerland), Bosch (Germany), Horiba (Japan), Honeywell (US), Delphi (UK), and Siemens (Germany).
The market study covers the automotive test equipment market across different segments. It aims at estimating the market size and future growth potential of this market across different segments such as by product type, vehicle type, application type, end market type, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall automotive test equipment market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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