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Automotive Garage Equipment Market Share

Report ID: GMI8638
Published Date: Mar 2024
Report Format: PDF

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Automotive Garage Equipment Market Share

Robert Bosch GmbH and Continental AG hold over 20% of the market share in the automotive garage equipment industry. Companies in this industry employ several key strategies to enhance their market foothold. Key players are strategically expanding their market presence in the automotive garage equipment industry through innovative product offerings and strategic partnerships. By developing cutting-edge technologies, such as advanced diagnostic tools and eco-friendly equipment, they attract a wider customer base seeking efficient and sustainable solutions. These innovations improve the efficiency of vehicle maintenance and cater to the growing demand for environmentally conscious practices in the automotive industry.

Forging strategic partnerships with automotive manufacturers and service centers provides these companies with avenues to penetrate new distribution channels and broaden their customer base. Collaborative ventures and alliances grant them entry into well-established networks, facilitating product showcases in pivotal markets. This approach enables them to fortify their position in the competitive automotive garage equipment industry and enhance the visibility and accessibility of their offerings to a diverse range of clients.

Automotive Garage Equipment Market Companies

Major companies operating in the automotive garage equipment industry are:

Arex Test Systems B.V.
Aro Equipments Pvt. Ltd.
Boston Garage Equipment Ltd.
Continental AG
Gray Manufacturing Company Inc.
Istobal S.A.
LKQ Coatings Ltd.
Ravaglioli S.p.A.
Robert Bosch GmbH
Vehicle Service Group

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of automotive garage equipment reached USD 9.1 billion in 2023 and is set to grow at around 4.5% CAGR between 2024 and 2032, due to increased awareness of benefits, like safety enhancements and efficiency improvements.

The passenger vehicle segment may hold 63% of the market share by 2032, owing to the higher prioritization of vehicle upkeep and safety along with surging investments in workshops, and garages for advanced equipment.

The lifting equipment segment recorded 25% of the automotive garage equipment market share in 2023, led by their rising essentiality for accessing the undercarriage and performing repairs.

Asia Pacific held over 40% of the market share in 2023, due to the burgeoning automotive industry in the region, in line with increasing vehicle ownership.