The automotive test equipment market is predicted to witness significant growth through the forecast period 2023 – 2030 with increasing motor vehicle production across the world. In addition, the introduction of mandatory regulations to reduce fuel emission, improve vehicle safety and repair and maintenance policies in major countries across the world.  All these factors are expected to drive the market for automotive test equipment in the next five years. This study on “Automotive Test Equipment Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2023 – 2030” helps trade partner across the value chain of automotive test equipment industry to identify key investment opportunities in the market.

The research study on automotive test equipment market includes an in-depth analysis of the market driving and restraining factors related to global automotive test equipment industry. The report also provides current and future industry trends in the global as well as regional automotive test equipment market. The report includes precise information of pricing, demand-supply, and technology development. High-level analysis such as consumer behaviour analysis, PESTEL, value chain and market attractive analysis included in the report helps industry players to identify key investment areas in this industry.

The market study on automotive test equipment also provides market estimates and forecast of different types of automotive test equipment market size in the global, regional and country-level markets in terms of both revenue (US$ Bn) and volume (number of units sold). The automotive test equipment market is segmented on the basis of product type, technology and region. The report also includes cross-sectional analysis on the regional and country-level i.e. regional market size by vehicle type. This study includes market historical market size (2020-2021), market estimate (2021), and forecast for the period 2023 – 2030 in terms of volume and revenue.

The report profiles key players in the global automotive test equipment industry. Company profiles include extensive information about financial overview, business strategies, product portfolio, major competitors, recent developments and regional positioning of these manufacturers. The report also provides comprehensive analysis about global market competition, regional market players and suppliers and positioning of key market players in the global market along with their market winning strategies.

Chassis dynamometer is commonly used for millage accumulation and emission testing. This segment accounted for the largest revenue share in 2021 and expected witness considerable growth through the forecast period 2023 - 2030. This growth is primarily attributed to its increasing installations at original equipment manufacturers’ (OEM) plants. Vehicle emission test system equipment category is expected to witness the fastest growth with the initiative taken by several countries to reduce vehicle emissions and greenhouse gases (GHG). U.S., Japan, China and Europe are major markets for vehicle emission test equipment. Engine dynamometer testing equipment are used to measure torque and power from the coupled engine. Engine dynamometer is used in vehicle testing factories and automotive service centres to evaluate vehicle and engine performance. Wheel alignment testers are also expected to witness considerable growth with increasing vehicles production and introduction of wireless wheel alignment testing solutions.

Most of the automotive test equipment are handheld which includes emission analyzers, gas analyzers, battery testers, fuel pressure testers, air pressure and vacuum testers, thermometers, airbag scan tools and simulators, and others. The handheld scan tool segment accounted for the largest revenue share in 2020 and is expected to maintain its dominating position throughout the forecast period 2023 – 2030.  Mobile device-based scan tools are expected to witness the fastest growth with continuous evolution in the user-friendly applications based car diagnostic and analyzing solutions. Vehicles manufacturers are introducing advanced vehicles equipped with electronic components and car diagnostic computers. This influencing the demand for mobile device-based scan tools. PC and laptop-based solutions are gaining popularity in wheel alignment testing application.

The global automotive testing equipment market is classified into four major regions i.e. North America, Europe, Asia Pacific and Rest of the World (RoW). The Rest of the world region is further classified into South America, Africa and the Middle East.

North America is expected to witness significant demand for automotive testing equipment with increasing sale of motor vehicles, stringent emission regulations, increasing vehicle fleet and introduction of mandatory vehicle repair and maintenance laws. Asia Pacific is the largest regional market for automotive test equipment solutions and also expected to be the fastest growing regional market for automotive testing equipment throughout the forecast period 2023 – 2030 due to rising vehicle production and increasing number of independent service centers and workshops particularly in China, India and Southeast Asia.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Automotive Test Equipment market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Automotive Test Equipment market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Automotive Test Equipment market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Automotive Test Equipment market?
• Which is the largest regional market for Automotive Test Equipment market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Automotive Test Equipment market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Automotive Test Equipment market worldwide?