Global Automotive Test Equipment Market Business Research Survey Report- Zion Market Research
Overview of the Global Automotive Test Equipment Market
The Global Automotive Test Equipment Market Industry Report provides a prediction and analysis of the global and regional automotive test equipment market. The study contains historical data for 2015, 2016, and 2017 as well as a revenue-based estimate for 2018 through 2024. (USD Million). The analysis discusses market drivers and restraints for automotive test equipment, as well as their impact on demand during the projection period. In addition, the research contains a global analysis of market opportunities for automotive test equipment.
This research provides a thorough overview of the global automotive test equipment market, including industry trends, growth drivers, and restraints. This research contains a comprehensive analysis of the competitive landscape and the product offerings of the leading suppliers. In order to comprehend the competitive landscape of the market, a Porter's Five Forces analysis has also been incorporated. The study includes an analysis of market attractiveness, in which all segments are compared based on market size, growth rate, and overall attractiveness.
Get FREE PDF Format of this Report: https://www.zionmarketresearch.com/sample/automotive-test-equipment-market
Questions Frequently Asked About This Report
1: How large is the market for automobile test equipment?
Ans: The global market for automotive test equipment is anticipated to reach $722 million by 2024.
2: What is the growth rate of the Automotive Test Equipment market?
Ans: A CAGR of little more than 6.31 percent between 2018 and 2024
3: Who are the key players in the market for Automotive Test Equipment?
Ans: Bosch, Siemens, Delphi Technologies, Continental, Honeywell, ABB, Softing, Horiba, and SGS are just a few of the main participants in the Automotive Test Equipment market.
4. What factors are driving the market for automotive test equipment?
Ans: The increasing use of electronic components in modern automobiles, rising automobile manufacturing, and a growing desire for electric vehicles are factors that are driving market expansion.
5. Which region is anticipated to hold the most market share for automotive test equipment?
Ans: Asia-Pacific is anticipated to hold the largest market share for automotive test equipment.
Lack of R&D facilities for automobile test equipment is a constraint.
Globally required strict emission standards and regulations have pushed original equipment manufacturers (OEMs) to test their vehicles thoroughly to assure compliance. Modern vehicles, such as hybrid automobiles with hybrid powertrains, necessitate many forms of testing equipment, including mobile equipment and others. Few businesses, like Ricardo (UK), Intertek (UK), and Horiba (Japan), offer testing solutions for hybrid vehicles. Diverse automobile manufacturers outsource these testing services, resulting in a rise in the vehicle's overall price, which impacts vehicle sales. The testing of hybrid vehicles necessitates advanced research, as these vehicles require specialised testing equipment. The absence of R&D facilities for vehicle testing would result in less innovative and advanced goods and reduce the quality of vehicle testing.
Increasing demand for onboard diagnostic equipment
In recent years, the demand for OBD testing has increased due to the self-diagnostic capacity of OBD devices. OBD enables comprehensive engine control. In addition to detecting vehicle issues, OBD tools provide emission control by alerting the driver of impending component failure. OBD-diagnostic II's capabilities allow users or mechanics to detect vehicle issues. With the use of OBD equipment, the user may read the state of the engine and diagnose the problem on his or her own, rather than visiting an auto shop.
Smartphones and other application-based wireless devices are typically preferred by consumers. Various OBD-II-compatible programmes have been created by testing instrument developers. Actron (US), a provider of repair and diagnostic equipment, has released an application for mobile devices called Torque Pro that enables customers to do automotive diagnostics using their mobile phones. This application connects to the OBD-II serial port wirelessly through Bluetooth technology. Torque Pro is also used to monitor the vehicle's performance.
Read Report Summary: https://www.zionmarketresearch.com/report/automotive-test-equipment-market
Maintaining a balance between the high cost and performance of test equipment is a challenge.
The automotive sector faces a conflict between technological innovation and cost reduction. Compared to conventional test equipment, more expensive technologies, such as advanced test equipment used for testing electric and hybrid vehicles, are available. It takes time for any technology to become widespread enough for its manufacturers to realise economies of scale. In growing markets, there is a demand for entry-level passenger automobiles, and automakers must deliver them at reasonable rates. In this situation, offering expensive testing equipment can be a deterrent. There is always a trade-off between spending costs for product innovation and reducing manufacturing costs for conventional goods. Therefore, the issue is to develop automotive testing equipment that is both efficient and cost-effective.
During the projected period, passenger automobiles are anticipated to represent the largest market segment.
In 2020, it is anticipated that the passenger car category would be the largest market for automotive test equipment. The increasing spending power of consumers and the rising demand for passenger vehicles in developing and developed nations have led to the expansion of the passenger vehicle automotive test equipment market. In addition, the increasing stringency of emissions and vehicle safety performance regulations in a number of nations has increased the demand for automotive test equipment.
During the projection period, authorised service centres are anticipated to account for the greatest market share.
The rise of the automotive test equipment market in authorised service facilities has been driven by the increase in vehicle sales. In addition, the market has witnessed a surge in the number of inventions as a result of the rising demand for driver safety and vehicle diagnosis features that boost the vehicle's longevity. The demand for equipment, software, and repair data has increased as a result of the increasing number of electronic functions in automobiles, stricter pollution rules, and shorter time required for diagnosis.
During the projected period, PC/laptop-based equipment is anticipated to account for the greatest market share.
PC/Laptop-based testing equipment is essentially comprised of hardware and software, including all the necessary cables, hardware, and software. These PC-based systems have the capacity to plot and log sensor data, estimate horsepower and torque, and compute fuel efficiency. Also, many technicians prefer to extract and analyse data from vehicle components utilising PC/laptop-based technology.
To Know More, Want to Buy our Business Reports (as per your research need): https://www.zionmarketresearch.com/buynow/su/automotive-test-equipment-market
During the projection period, the Asia-Pacific region is projected to have the greatest market size.
During the projection period, the Asia-Pacific region is anticipated to be the largest market for automotive test equipment, as it has become a centre for vehicle manufacturing. Increasing consumer spending power has fueled the demand for automobiles in the region. Cost benefits for original equipment manufacturers (OEMs), low automobile penetration levels, and rising vehicle production provide automobile manufacturers and automotive component suppliers with appealing market potential. Due to the availability of inexpensive labour and low production costs, many major OEMs have established production facilities in the region or partnered with native automakers. Horiba (Japan), Autel (China), and Sinfonia are prominent suppliers of automobile test equipment in the Asia-Pacific area (Japan).
领英推荐
Key Players Mentioned in this Reports are
EM Test ,
Ricardo Automotive
Automotive Solutions
Automotive Testing
#automotivetesting #equipment #marketing #market #growth #demand #shares #size #global #latinamerica #strategies #business #africa #middleeast #asiapacific #research #developments
Read other Business Trending Reports