Upsurge in the Automotive Industry to Proliferate Garage Equipment Market

Thu, 08 October 2020 3:52

Rapid advancement in the automotive industry propels the market growth. The automotive industry is one of the major industry globally, with the time the transportation has become easy and convenient owing to the advancement in the automotive industry. The consumption of motor vehicles including passenger cars, motorbike, among others has drastically increased in the last 2-3 decades. For instance, in 2018, the U.S. automotive industry generated a total of USD 545.4 billion and contributed 2.7% to the nation's GDP. According to Statista, in 2017, the global sales of passenger vehicles were around 79.6 million units. Increasing consumption of electric vehicles and continuous innovations in the automotive sector are unlocking lucrative opportunities for the garage equipment market. Moreover, the increasing trend among youngsters and adults regarding car drifting, stunts, and rough driving has surged the need for maintenance due to early decaying of the vehicle, further driving the market growth.

Got questions about your regional growth of

Garage Equipment Market?

Just drop us a line or call on +1 646 480 7505

COVID-19 Impact on the Garage Equipment Market

The automotive industry is severely hit by the COVID-19 outbreak. The sales of new and pre-owned cars have declined drastically. The sales are expected to decelerate by 12 to 14% in China, India, and Europe by the end of 2020. As per the Economic Times, there will be an overall impact of around USD 1.5 to 2 billion per month across the automotive industry. Similarly, the garage equipment market is severely impacted by the pandemic due to lockdowns imposed by governments and rapidly decelerating sales of automobiles.

Key Players

  • Arex Test Systems B.V.
  • Aro Equipments Pvt. Ltd.
  • Boston Garage Equipment Ltd
  • Continental AG
  • Gray Manufacturing Company, Inc.
  • Guangzhou Jingjia Auto Equipment Co., Ltd
  • Istobal S.A.
  • Nussbaum Automotive Solutions Lp
  • Robert Bosch GmbH
  • Vehicle Service Group, LLC.
  • MAHA Maschinenbau Haldenwang GmbH and Co. KG
  • VisiCon Automatisierungstechnik GmbH
  • Standard Tools and Equipment Co.
  • Symach s.r.l.
  • Otto Nußbaum GmbH and Co. K.G.
  • M/s Samvit Garage Equipments
  • Sarveshwari Engineers
  • Euro Car Parts Ltd T/A LKQ Coatings
  • ISTOBAL
  • Con Air Equipments Private Limited
  • Oil Lube Systems Pvt Ltd.
  • Gray Manufacturing
  • AUTEC, Inc.

Garage Equipment Market: Segmentation

By Garage Type

  • OEM Authorized Garage
  • Independent Garage
  • Franchise Garage

By Application

  • Body Shop Equipment
  • Diagnostic and Testing Equipment
  • Emission Equipment
  • Lifting Equipment
  • Washing Equipment
  • Wheel and Tire Equipment

By Installation Type

  • Mobile
  • Fixed

By Function Type

  • Electronic
  • Mechanical

By Vehicle Type

  • Motor Cycle
  • Passenger Vehicle
  • Commercial Vehicle

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • The U.K.
  • Italy
  • Spain
  • The Netherlands
  • Russia
  • The Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Malaysia
  • Singapore
  • Vietnam
  • The Rest of Asia-Pacific

Central and South America and the Caribbean

  • Brazil
  • Argentina
  • Colombia
  • The Rest of Central and South America and the Caribbean

The Middle East

  • Saudi Arabia
  • The UAE
  • Oman
  • Bahrain
  • The Rest of the Middle East

Africa

  • Nigeria
  • South Africa
  • Ghana
  • Tanzania
  • The Rest of Africa

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

View Full Report Buy This Report Now