Global Automotive Care Equipment Market Overview
As per MRFR analysis, the Automotive Care Equipment Market Size was estimated at 13.24 (USD Billion) in 2023. The Automotive Care Equipment Market Industry is expected to grow from 14.42 (USD Billion) in 2024 to 23.13 (USD Billion) by 2032. The Automotive Care Equipment Market CAGR (growth rate) is expected to be around 8.90% during the forecast period (2024 - 2032).
Key Automotive Care Equipment Market Trends Highlighted
The market for global automotive care equipment, driven by the ownership of more vehicles, technological developments, and consumers' changing tastes, is still in its evolving stages. Key drivers comprise the electric car uprising, which has led to a demand for particular equipment as well as detailing and car wash services’ popularity among consumers. Opportunities are available in developing markets where demand is rising for affordable and accessible solutions in the automobile care industry. For instance, recent trends include the adoption of touchless car wash systems that rely on advanced sensors and automation techniques to improve efficacy. Furthermore, customer convenience has been improved through the integration of mobile apps and digital payment options, which streamline processes and operations. Emphasis on environmental conservation has also led to the development of eco-friendly products such as water-saving car wash systems. These can be exploited by enterprises operating in the Automotive Care Equipment Market, thereby boosting their growth and responding to the ever-changing needs of their customers.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Care Equipment Market Drivers
Growing Vehicle Ownership and Increasing Demand for Vehicle Maintenance
The increasing number of vehicles on the road is a major driver of growth for the automotive care equipment market. As the number of vehicles increases, so does the need for regular maintenance and repairs. This is driving demand for automotive care equipment, such as lifts, diagnostic tools, and tire changers. In addition to the growing number of vehicles, the increasing complexity of vehicles is also driving demand for automotive care equipment. Modern vehicles are equipped with a variety of sophisticated electronic systems, which require specialized equipment for diagnosis and repair.This is creating opportunities for manufacturers of automotive care equipment to develop and market new products that meet the needs of the changing automotive landscape. Furthermore, the growing popularity of electric vehicles (EVs) is also expected to drive demand for automotive care equipment. EVs require specialized equipment for maintenance and repair, such as charging stations and battery diagnostic tools. This is creating new opportunities for manufacturers of automotive care equipment to develop and market products that cater to the specific needs of the EV market.
Technological Advancements and the Rise of Connected Vehicles
The automotive industry is undergoing a period of rapid technological change, and this is having a significant impact on the automotive care equipment market. The development of new technologies, such as connected vehicles and autonomous driving, is creating new opportunities for manufacturers of automotive care equipment. Connected vehicles are equipped with a variety of sensors and other devices that allow them to communicate with each other and with the cloud.This is creating new opportunities for manufacturers of automotive care equipment to develop products that can remotely monitor vehicle performance and diagnose problems. Autonomous vehicles are also expected to have a significant impact on the automotive care equipment market. As autonomous vehicles become more prevalent, there will be less need for traditional automotive care services, such as oil changes and tire rotations. However, this will also create new opportunities for manufacturers of automotive care equipment to develop products that can support the maintenance and repair of autonomous vehicles.
Increasing Focus on Vehicle Appearance and Customization
In addition to the growing demand for vehicle maintenance and repair, there is also an increasing focus on vehicle appearance and customization. This is driving demand for automotive care equipment, such as car washes, detailing supplies, and aftermarket accessories. The growing popularity of car customization is particularly evident among younger consumers. These consumers are looking for ways to make their vehicles stand out from the crowd, and they are willing to spend money on aftermarket accessories and customization services.This is creating opportunities for manufacturers of automotive care equipment to develop and market products that cater to the specific needs of this growing market.
Automotive Care Equipment Market Segment Insights
Automotive Care Equipment Market Equipment Type Insights
The Automotive Care Equipment Market is segmented by Equipment Type into Diagnostic Equipment, Repair Equipment, Maintenance Equipment, Collision Repair Equipment, Car Wash Equipment, and Specialized Equipment. Among these segments, Diagnostic Equipment held the largest market share in 2023, and it is expected to continue its dominance throughout the forecast period. The growth of this segment can be attributed to the increasing adoption of advanced diagnostic tools by automotive service centers and repair shops. Repair Equipment is another significant segment in the Automotive Care Equipment Market, and it is projected to exhibit steady growth over the forecast period.This growth is driven by the rising number of vehicles on the road and the increasing complexity of vehicle systems. Maintenance Equipment is also expected to witness considerable growth during the forecast period, owing to the growing emphasis on preventive maintenance and the need to maintain vehicles in good condition. Collision Repair Equipment, Car Wash Equipment, and Specialized Equipment are other important segments in the Automotive Care Equipment Market, and they are expected to make significant contributions to the market's overall growth in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Care Equipment Market Vehicle Type Insights
The Vehicle Type segment of the Automotive Care Equipment Market is categorized into Passenger Cars, Commercial Vehicles, Light-Duty Vehicles, Heavy-Duty Vehicles, and Two Wheelers. Among these, Passenger Cars hold a significant market share due to the increasing vehicle production and ownership globally. The growing emphasis on vehicle maintenance and appearance drives the demand for automotive care equipment in this segment. Commercial Vehicles, including buses, trucks, and vans, also contribute a substantial share to the market as they require regular maintenance and repair to ensure optimal performance and safety.Light-Duty Vehicles, such as SUVs and pickup trucks, are witnessing increasing demand due to their versatility and growing popularity in both urban and rural areas. Heavy-Duty Vehicles, including construction equipment and mining vehicles, require specialized care and maintenance, leading to a growing demand for specialized equipment in this segment. Two Wheelers, including motorcycles and scooters, are gaining popularity in many regions, contributing to the overall market growth.
Automotive Care Equipment Market Usage Insights
The Usage segment of the Automotive Care Equipment Market is bifurcated into Professional, DIY (Do-It-Yourself), Fleet Maintenance, Collision Repair, and Car Wash Facilities. The Professional segment holds the largest market share due to the increasing number of automotive repair shops and the growing demand for professional car care services. The DIY segment is expected to witness significant growth owing to the rising popularity of do-it-yourself car care products and the increasing availability of online tutorials and resources. The Fleet Maintenance segment is projected to grow steadily driven by the increasing number of commercial vehicles and the need for regular maintenance and repairs.The Collision Repair segment is anticipated to grow at a moderate pace due to the increasing number of road accidents and the rising demand for collision repair services. The Car Wash Facilities segment is expected to experience steady growth owing to the increasing demand for car wash services and the growing number of car wash facilities.
Automotive Care Equipment Market Power Source Insights
The Automotive Care Equipment Market segmentation by Power Source includes Electric, Pneumatic, Hydraulic, Battery-Powered, and Manual. Among these, the Electric segment is projected to witness significant growth in the coming years. The rising adoption of electric vehicles and the increasing demand for eco-friendly solutions in the automotive industry are driving the growth of this segment. In 2023, the Electric segment accounted for a market share of around 35%, and it is expected to reach a value of over USD 60 billion by 2032, exhibiting a CAGR of 7.2% during the forecast period.The Pneumatic segment is another major segment in the Automotive Care Equipment Market, holding a market share of approximately 28% in 2023. The increasing use of pneumatic tools in automotive workshops and garages due to their efficiency and durability is contributing to the growth of this segment.
Automotive Care Equipment Market Technology Insights
Technology plays a vital role in the growth of the Automotive Care Equipment Market. Advanced technologies such as Computer-Based Diagnostics, Advanced Driver Assistance Systems (ADAS) Calibration, Telemetry and Remote Monitoring, Artificial Intelligence (AI) and Machine Learning (ML), Virtual and Augmented Reality (VR/AR) are driving market growth. Computer-Based Diagnostics allows technicians to diagnose and repair vehicles more efficiently and accurately. ADAS Calibration ensures that safety systems are functioning correctly, improving vehicle safety.Telemetry and Remote Monitoring enables real-time tracking and monitoring of vehicle performance and diagnostics, reducing downtime and costs. AI and ML technologies enhance predictive maintenance and personalized vehicle experiences. The increasing adoption of advanced technologies and the growing demand for vehicle maintenance and repair services are driving this growth.
Automotive Care Equipment Market Regional Insights
The Automotive Care Equipment Market segmentation by region reveals distinct market dynamics and growth patterns. North America holds a significant share of the market, driven by the presence of major automotive manufacturers and a large aftermarket industry. The region is expected to maintain its dominance in the coming years, with a projected revenue of 42.5 billion USD by 2024. Europe follows closely behind, benefiting from a mature automotive sector and a growing demand for car care services. APAC is anticipated to witness the fastest growth, owing to the rising vehicle ownership rates and increasing disposable income in emerging economies.South America and MEA also present lucrative opportunities for market expansion, with growing urbanization and a growing middle class. These regional insights provide valuable guidance for businesses operating in the Automotive Care Equipment Market, enabling them to tailor their strategies to specific market dynamics and growth drivers.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Care Equipment Market Key Players And Competitive Insights
Major players in the Automotive Care Equipment Market industry are constantly striving to gain a competitive edge in the market. Leading Automotive Care Equipment Market players are focusing on innovation and product development to meet the evolving needs of customers. They are also investing in marketing and branding initiatives to increase their visibility and market share. The Automotive Care Equipment Market is highly competitive, with a number of global and regional players vying for market share. Some of the key players in the market include Snap-on Incorporated, Hunter Engineering Company, and Bosch Automotive Service Solutions. These companies offer a wide range of automotive care equipment, including diagnostic tools, repair tools, and maintenance equipment. They also provide training and support services to their customers.Automotive Care Equipment Market development is being driven by a number of factors, including the increasing number of vehicles on the road, the growing popularity of do-it-yourself (DIY) repairs, and the increasing complexity of vehicles.
As the number of vehicles on the road continues to grow, the demand for automotive care equipment is also expected to increase. Automotive Care Equipment Market Competitive Landscape is expected to remain competitive in the coming years. The key players in the market are expected to continue to invest in innovation and product development to gain a competitive edge. They are also expected to focus on expanding their distribution networks and increasing their market share.Snap-on Incorporated is a leading global provider of automotive care equipment. The company offers a wide range of products, including diagnostic tools, repair tools, and maintenance equipment. Snap-on also provides training and support services to its customers. The company has a strong distribution network and a loyal customer base. Bosch Automotive Service Solutions is another leading global provider of automotive care equipment. The company offers a wide range of products, including diagnostic tools, repair tools, and maintenance equipment. Bosch also provides training and support services to its customers. The company has a strong distribution network and a loyal customer base.
Key Companies in the Automotive Care Equipment Market Include
- Continental
- Bosch
- Avery Dennison
- PPG Industries
- Aisin Seiki
- CRC Industries
- Hunter Engineering Company
- 3M
- Wynn's
- ZF
- Valeo
- Sika
- Texa
- Snapon
- Mahle
Automotive Care Equipment Market Industry Developments
The Automotive Care Equipment Market is anticipated to grow from USD 96.33 billion in 2023 to USD 166.7 billion by 2032, exhibiting a CAGR of 6.28%. Growth in the market is attributed to increasing vehicle production and sales, rising demand for automotive maintenance and repair services, and growing adoption of advanced automotive care technologies.Recent news developments in the market include:- In January 2023, Snap-on Incorporated acquired AutoCrib, a leading provider of inventory management solutions for the automotive aftermarket. This acquisition strengthens Snap-on's position in the automotive care equipment market and expands its product portfolio.- In February 2023, Bosch announced the launch of its new Connected Repair solution, which enables technicians to remotely diagnose and repair vehicles using augmented reality technology. This innovation is expected to improve efficiency and productivity in automotive repair shops.These developments indicate the growing emphasis on technological advancements and digital transformation in the automotive care equipment market as companies strive to meet the evolving needs of customers and enhance the overall vehicle ownership experience.
Automotive Care Equipment Market Segmentation Insights
-
Automotive Care Equipment Market Equipment Type Outlook
- Diagnostic Equipment
- Repair Equipment
- Maintenance Equipment
- Collision Repair Equipment
- Car Wash Equipment
- Specialized Equipment
-
Automotive Care Equipment Market Vehicle Type Outlook
- Passenger Cars
- Commercial Vehicles
- Light-Duty Vehicles
- Heavy-Duty Vehicles
- Two Wheelers
-
Automotive Care Equipment Market Usage Outlook
- Professional
- DIY (Do-It-Yourself)
- Fleet Maintenance
- Collision Repair
- Car Wash Facilities
-
Automotive Care Equipment Market Power Source Outlook
- Electric
- Pneumatic
- Hydraulic
- Battery-Powered
- Manual
-
Automotive Care Equipment Market Technology Outlook
- Computer-Based Diagnostics
- Advanced Driver Assistance Systems (ADAS) Calibration
- Telemetry and Remote Monitoring
- Artificial Intelligence (AI) and Machine Learning (ML)
- Virtual and Augmented Reality (VR/AR)
-
Automotive Care Equipment Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2023 |
13.24 (USD Billion) |
| Market Size 2024 |
14.42 (USD Billion) |
| Market Size 2032 |
23.13 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
8.90% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Continental, Bosch, Avery Dennison, PPG Industries, Aisin Seiki, CRC Industries, Hunter Engineering Company, 3M, Wynn's, ZF, Valeo, Sika, Texa, Snapon, Mahle |
| Segments Covered |
Equipment Type, Vehicle Type, Usage, Power Source, Technology, Regional |
| Key Market Opportunities |
Vehicle electrification Growing demand for automotive detailing services Advancements in vehicle care technology Expansion of online channels Government regulations on vehicle maintenance |
| Key Market Dynamics |
Increasing vehicle ownership Technological advancements Rising consumer awareness Government regulations Growing popularity of electric vehicles |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Automotive Care Equipment Market size is valued at USD 96.33 billion in 2023 and is expected to reach USD 166.7 billion by 2032, exhibiting a CAGR of 6.28% during the forecast period.
The Asia-Pacific region is expected to dominate the automotive care equipment market over the forecast period. Factors such as increasing vehicle production, rising disposable income, and growing awareness about vehicle maintenance are contributing to the growth in this region.
Automotive care equipment finds applications in various segments, including car washing, detailing, and maintenance. Car washing equipment accounts for a significant share of the market due to the rising demand for automated and touchless car wash systems.
Major players in the automotive care equipment market include Snap-on Incorporated, Robert Bosch GmbH, 3M Company, and Atlas Copco AB. These companies offer a wide range of products and services, including diagnostic tools, repair equipment, and vehicle lifts.
The growing adoption of electric vehicles and autonomous driving technologies is expected to drive the demand for advanced automotive care equipment. Additionally, the increasing focus on sustainability is leading to the development of eco-friendly and energy-efficient equipment.
The COVID-19 pandemic had a moderate impact on the automotive care equipment market in the short term. However, the market is expected to recover in the long run as vehicle maintenance and repair activities resume.
The automotive care equipment market faces challenges such as the availability of counterfeit products, the high cost of equipment, and the shortage of skilled technicians.
The future of the automotive care equipment market looks promising due to the increasing vehicle ownership, technological advancements, and rising demand for vehicle maintenance and repair services.
Key growth drivers for the automotive care equipment market include the increasing number of vehicles on the road, the growing popularity of car detailing and maintenance services, and the rising demand for advanced diagnostic and repair equipment.
Potential risks associated with investing in the automotive care equipment market include the cyclical nature of the automotive industry, the impact of technological advancements, and the regulatory changes related to vehicle emissions and safety.
