Automotive Garage Equipment Market Growth Potential & Forecast, 2032

 Automotive Garage Equipment Market is projected to accrue USD 13.5 billion by 2032. The rising global vehicle population and the increasing demand for regular vehicle maintenance and repair services will favor the market growth. As per International Energy Agency (IEA), in 2023, nearly 14 million new electric cars were registered worldwide, increasing the total number of electric vehicles on the roads to 40 million. With more people owning and using cars, the need for efficient and well-equipped automotive garages is growing correspondingly.

Rapid advancement of automotive technologies, including electric and hybrid vehicles is also necessitating specialized garage equipment for servicing and repairs. As the automotive industry evolves, garage manufacturers are eyeing innovations to meet the specific needs of these new types of vehicles. Government regulations and standards regarding emissions and safety are becoming increasingly stringent, making way for advanced equipment for compliance testing and maintenance. Increasing number of automotive factories and manufacturing facilities, especially in developing regions is also driving the market growth.

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Automotive garage equipment market from the OEM authorized garage segment will register noteworthy CAGR from 2024 to 2032. As these facilities are required to meet stringent standards set by vehicle manufacturers, they make  use of high-quality, specialized equipment. With customers preferring authorized service centers for their expertise, reliability and genuine parts handling, these garages are investing heavily in state-of-the-art inspection equipment, lifts, filling machines, and other advanced equipment to ensure the highest level of performance.

Automotive garage equipment industry from the body shop equipment segment may exhibit a decent growth rate over 2024-2032 due to the rising incidence of vehicular accidents and the increasing demand for aesthetic vehicle repairs and customizations. Lately, the preferences of consumers is shifting towards maintaining the appeal and resale value of their vehicles.  The increasing demand for advanced body shop equipment, such as paint booths, dent pullers and welding machines will add to the segment growth.

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Europe automotive garage equipment industry size will register a robust CAGR from 2024 to 2032. The stringent regulatory standards and increasing emphasis on vehicle safety and emissions control in European countries is propelling the demand for advanced diagnostic and maintenance equipment in automotive garages. The rapid deployment of electric and hybrid vehicles in the region is necessitating specialized garage equipment for service and maintenance. Leading automobile manufacturers and the strong aftermarket network in Europe will also support the demand for sophisticated garage equipment, such as lifts, wheel mounting devices and inspection equipment.

Partial chapters of report table of contents (TOC):

Chapter 1   Methodology & Scope

1.1    Research design

1.1.1    Research approach

1.1.2    Data collection methods

1.2    Base estimates and calculations

1.2.1    Base year calculation

1.2.2    Key trends for market estimates

1.3    Forecast model

1.4    Primary research & validation

1.4.1    Primary sources

1.4.2    Data mining sources

1.5    Market definitions

Chapter 2   Executive Summary

2.1    Industry 3600 synopsis, 2021 - 2032

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.2    Supplier landscape

3.2.1    Raw material providers

3.2.2    Component supplier

3.2.3    Manufacturers

3.2.4    Distributors

3.2.5    End users

3.3    Profit margin analysis

3.4    Technology & innovation landscape

3.5    Patent analysis

3.6    Price trend analysis

3.7    Cost structure analysis

3.8    Key news & initiatives

3.9    Regulatory landscape

3.10    Impact forces

3.10.1    Growth drivers

3.10.1.1    The rising demand for vehicles globally

3.10.1.2    The growing aftermarket automotive sector

3.10.1.3    The average age of vehicles on the road has been increasing

3.10.1.4    Environmental regulations mandating emission testing and vehicle inspection

3.10.2    Industry pitfalls & challenges

3.10.2.1    Cost constraints

3.10.2.2    The shortage of skilled automotive technicians and mechanics

3.11    Growth potential analysis

3.12    Porter’s analysis

3.13    PESTEL analysis

About Global Market Insights:

 

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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