Automotive Garage Equipment Market Summary
As per Market Research Future Analysis, the Automotive Garage Equipment market is projected to grow from USD 6.73 Billion in 2024 to USD 9.37 Billion by 2032, with a CAGR of 4.22% during the forecast period. The market was valued at USD 6.46 Billion in 2023. Key drivers include the demand for exhaust emission control, fast vehicle identification, and the integration of digital systems in vehicles. The rise in vehicle production and sales, along with safety concerns and mandates for regular inspections, further support market growth. However, the increasing quality and decreasing costs of original equipment parts may hinder repair activities.
Key Market Trends & Highlights
The Automotive Garage Equipment market is witnessing significant trends driven by technological advancements and increasing vehicle maintenance needs.
- Market growth is supported by the increasing demand for tire and wheel servicing equipment, particularly in the passenger cars segment.
- The North American market is expected to dominate due to higher disposable incomes and vehicle maintenance trends.
- The Asia-Pacific region is projected to grow at the fastest CAGR from 2024 to 2032, driven by forthcoming emission norms.
- Digitalization in automotive systems is leading to a rise in demand for diagnostic and calibration tools.
Market Size & Forecast
2024 Market Size | USD 6.73 Billion |
2032 Market Size | USD 9.37 Billion |
CAGR | 4.22% |
Major Players
Key players include Robert Bosch GmbH, Continental AG, Istobal S.A., Aro Equipments Pvt. Ltd, Guangzhou Jingjia Auto Equipment Co., Ltd, Nussbaum Automotive Solutions Lp, Boston Garage Equipment Ltd, Arex Test Systems B.V., and Vehicle Service Group.