Garage Equipment are the equipment which are utilized to keep vehicle in good condition, as regular maintenance becomes highly essential. Different type of equipment that are being used in garage for maintenance of vehicle include lifting equipment, tire changer, emission equipment, wheel balancer and others equipment. Also, with advancements in performance, safety and repair of vehicles are equally important. Moreover, continuous changes in the automotive sector, such as lightweight engine to make comfortable ride, adoption of airbags for safety purpose, and advancement in equipment such as automotive jacks, welding tools, wheel balancer, lifting equipment, tire changer and others plays an important role to the garage equipment market.
Global Garage Equipment Market: Key Players
The research study includes profiles of leading companies operating in the global garage equipment market. Key players profiled in the report include: Dover Corporation, Continental AG, Robert Bosch GmbH, Snap-On Incorporated, Fortive Corporation, Cemb S.P.A, Boston Garage Equipment Ltd, Aro Equipment Pvt. Ltd, Arex Test Systems B.V. and Beissbarth Automotive Service Equipment.
Drivers for the Global Garage Equipment Market:
According to current market condition, increasing automotive production, stringent rules and regulations regarding vehicle’s fuel efficiency, emission norms, and rising demand for garage equipment’s are some of the factors expected to drive the growth of the target market over the forecast period. Also, with growing automotive and related service and maintenance sector, the demand for related garage equipment is bound to remain strong over the forecast period. Another prominent factor driving the garage equipment market is increasing average age of vehicle. In addition, growing consumer awareness and spending for vehicle safety is further escalating the garage equipment market growth.
Opportunities for the Global Garage Equipment Market:
Increasing preference towards quality and authentic products, service centers are entering into partnerships with OEM’s which create a lucrative opportunity to grow the market during forecast period. Apart from authorized service center, multi brand service center have come to existence, thereby driving demand for related garage equipment. Moreover, rising demand for electronic control unit and other electronic features as well as increasing integration of advanced driver assistance system in vehicles are the major factor likely to offer lucrative growth opportunity to the market in the upcoming years.
Restrains for the Global Garage Equipment Market:
International trade regulations and increasing cost of vehicles are few factors anticipated to restrain the growth of global garage equipment market during the forecast period. Also, availability of original equipment parts at a lower cost is expected to restrict the rate of garage uses and repair activities will restrict the market growth.
Region Wise, Global Garage Equipment Market Analysis:
On the basis of region global garage equipment market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all Asia Pacific lead the global garage equipment market as Asia pacific is the leading geographical region for production of light vehicle with more than 30% of global production. With the rising in the sales, shares of garage equipment market is set to witness an upswing in the coming year. Due to this unorganized nature of the market, independent garage segment holds largest share of garage equipment market in Asia pacific region. Asia pacific region is followed by North America and Europe.
Global Garage Equipment Market: Product analysis
- OEM authorized garage
- Independent garage
Global Garage Equipment Market: Application analysis
- Body Shop Equipment
- Diagnostic & Testing Equipment
- Emission Equipment
- Lifting Equipment
- Washing Equipment
- Wheel & Tire Equipment
Global Garage Equipment Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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