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Automotive Garage Equipment Market Size - By Equipment (Body Shop, Diagnostic & Testing, Emission, Lifting Equipment, Washing, Wheel & Tire), By Installation (Mobile, Fixed), By Function (Electronic, Mechanical), By Garage, By Vehicle & Forecast, 2024 - 2032
Report ID: GMI8638
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Published Date: March 2024
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Report Format: PDF
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Premium Report Details
Base Year: 2023
Companies covered: 20
Tables & Figures: 270
Countries covered: 25
Pages: 240
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Automotive Garage Equipment Market Size
Automotive Garage Equipment Market size was valued at USD 9.1 billion in 2023 and is estimated to register a CAGR of over 4.5% between 2024 and 2032. As more EVs hit the roads, specialized tools for EV maintenance, such as charging stations and battery diagnostics, are in high demand. Additionally, increased awareness of equipment benefits, like safety enhancements and efficiency improvements, prompts garages to invest in advanced tools, contributing to market growth and innovation. For instance, in May 2023, Mahle and Midtronics partnered to create EV battery service tools, providing workshops for safe and efficient maintenance of Li-ion batteries, and covering diagnostics and maintenance for all brands.
Technological advancements and a heightened focus on vehicle maintenance are driving significant growth in the automotive garage equipment market. As vehicles become more complex, advanced diagnostic tools, smart lifts, and integrated software solutions are in demand. Consumers are also keeping vehicles longer, emphasizing the need for quality maintenance. This trend pushes garage equipment manufacturers to innovate, meeting the market's demand for tools that enhance efficiency, accuracy, and overall vehicle longevity. For instance, in March 2024, Dylect introduced two new products to its automotive equipment lineup: the Smart Tyre Inflator, designed for efficient tire inflation, and the Car Vacuum Cleaner, enhancing vehicle cleanliness and convenience.
The automotive garage equipment industry encounters initial hurdles, such as stringent safety and environmental regulations. However, these regulations drive the development of safer, more eco-friendly tools. Moreover, addressing the shortage of skilled manpower presents an opportunity for training programs and partnerships between equipment manufacturers and educational institutions, ensuring a competent workforce. These challenges ultimately foster a culture of continuous improvement and professional development within the industry.
Automotive Garage Equipment Market Trends
The surge in demand for sophisticated diagnostic equipment is a key trend propelling the market forward. As vehicles become more complex with advanced systems like ADAS and hybrid powertrains, the need for precise and efficient diagnostics grows. Garage equipment manufacturers are responding by developing innovative tools capable of handling these complexities. This trend improves maintenance accuracy and efficiency and ensures vehicles are serviced to meet modern safety and performance standards, fueling market growth. For instance, in October 2023, Midtronics introduced its groundbreaking AI battery tester, showcasing the innovative MDX-AI core technology for the first time in a product.
Automotive Garage Equipment Market Analysis
Based on vehicle, the market is divided into passenger vehicle and commercial vehicle. The passenger vehicle segment is expected to hold around 63% of the market share by 2032. With millions of cars on the road, demand for garage equipment such as lifts, diagnostic tools, and tire changers remains consistently high. As consumers prioritize vehicle upkeep and safety, workshops, and garages invest in advanced equipment to efficiently service this segment, driving its significant share in the market.
Based on equipment, the automotive garage equipment market is categorized into body shop equipment, diagnostic & testing equipment, emission equipment, lifting equipment, washing equipment, wheel & tire equipment, and others. The lifting equipment segment accounted for a market share of around 25% in 2023. From hydraulic lifts to scissor jacks, these tools are essential for accessing the undercarriage and performing repairs. Automotive workshops rely heavily on efficient lifting solutions to enhance productivity and ensure safety. As the demand for timely and precise repairs grows, the lifting equipment segment remains pivotal in the automotive industry, offering crucial support to maintenance operations.
Asia Pacific automotive garage equipment market recorded around 40% of the revenue share in 2023. The burgeoning automotive industry in the region, in line with increasing vehicle ownership, has propelled the demand for garage equipment. Countries like China and India, with their expanding automotive sectors, have significantly contributed to this growth. As workshops and service centers invested in modern equipment to meet rising demands, Asia Pacific emerged as a pivotal contributor to the market's success.
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:
Automotive Garage Equipment Industry News
The automotive garage equipment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) and shipments (Units) from 2021 to 2032, for the following segments:
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Market, By Equipment
Market, By Installation
Market, By Function
Market, By Garage
Market, By Vehicle
The above information is provided for the following regions and countries: