USD 24.4 billion
Automotive Garage Equipment Market Size, Share, Growth Analysis, By Garage Type (Automotive OEM Dealerships, Franchised Garages), By Equipment Type, By Vehicle Type, By Distribution Channel, By Application, By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2284 |
Region:
Global |
Published Date: November, 2024
Pages:
220
|Tables:
93
|Figures:
72
Automotive Garage Equipment Market Insights
Global Automotive Garage Equipment Market size was valued at USD 7.3 billion in 2022 and is poised to grow from USD 7.8 billion in 2023 to USD 13.5 billion by 2031, growing at a CAGR of 7.1% during the forecast period (2024-2031).
Equipment used in garages to repair automobiles is known as automotive garage equipment. Increasing vehicle sales and growing automotive production are key factors that are estimated to boost the sales of automotive garage equipment over the coming years. Electrification of the automotive industry is projected to create new opportunities for automotive garage equipment suppliers in the future as they look for more advanced equipment to repair modern vehicles. The rising popularity of franchisee garages and increasing demand for vehicle modification among people around the world are predicted to be other factors that could bolster the demand for automotive garage equipment in the long run. Moreover, increasing popularity of DIY mechanic trends are also slated to uplift the automotive garage equipment demand outlook going forward. However, shortage of skilled labor and technicians coupled with high initial investments to purchase the said equipment are slated to be key constraints for automotive garage equipment market development in the future.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
OEM
Fastest Growth
Franchisee Garages
Growth Rate
8.9% CAGR
Global Automotive Garage Equipment Market ($ Bn)
Country Share for North America Region (%)
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Automotive Garage Equipment Market Segmental Analysis
Global Automotive Garage Equipment Market is segmented by Garage Type, Equipment Type, Vehicle Type, Distribution Channel, Application and region. Based on Garage Type, the market is segmented into Automotive OEM Dealerships, Franchised Garages, and Independent Garages. Based on Equipment Type, the market is segmented into Wheel & Tire Service Equipment, Lifting Equipment, Emission Testing Equipment, Vehicle Diagnostic & Testing Equipment, Body Shop Equipment, Washing Equipment, Other Equipment. Based on Vehicle Type, the market is segmented into Passenger Cars, Commercial Vehicles. Based on Distribution Channel, the market is segmented into Online, Offline. Based on Application, the market is segmented into Body Shop, Tire Shop, Car Dealership. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Equipment
Demand for lifting equipment accounts for a major share of the global automotive garage equipment market. High use of lifting equipment to lift all kinds of vehicle for undercarriage work and maintenance allows this segment to account for a major chunk of the market share. Growing use of this type of equipment for the inspection of different kinds of vehicles also allows this segment to boost market growth.
Meanwhile, the sales of wheel and tire alignment equipment are estimated to rise at a notable pace across the forecast period. Wheel alignment and tire alignment services are high in demand as they are essential in maintaining a smooth drive for drivers and allow drivers to have better control of their vehicles. Checking wheel alignment is a common service practice and this also allows this segment to bolster market development in the future.
Analysis by Garage
OEM garage equipment is estimated to account for a major chunk of the global automotive garage equipment market share. Growing automotive production around the world has pushed automotive companies to set up their own service and maintenance facilities, which is projected to favor the sales of automotive garage equipment over the coming years.
On the other hand, the demand for automotive garage equipment from franchisee garages is projected to increase at a rapid pace. The growing number of independent garages turning their business into franchisee garages allows this segment to expand at a noteworthy CAGR across the forecast period.
Global Automotive Garage Equipment Market By Garage
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Automotive Garage Equipment Market Regional Insights
North America is projected to lead the global demand for automotive garage equipment across the forecast period on the back of high spending potential of people in this region and rising popularity of the vehicle modification trend. The United States is slated to be the top market for automotive garage equipment companies in this region as sales of vehicles increases in the country. Moreover, the imposition of strict vehicle safety norms in this region also pushes vehicle owners to visit garages more often to keep their vehicles compliant with local and national road safety regulations.
The Asia Pacific region is slated to emerge as the fastest-growing market for automotive garage equipment in the world. Surging sales of vehicles coupled with an evolving standard of living is forecasted to augment the demand for automotive garage equipment in this region over the coming years. Cheap labor and cheap raw materials also create new opportunities for automotive garage equipment companies to set up their manufacturing facilities in this region. China, India, and South Korea are estimated to be the top markets for automotive garage equipment market players in the Asia Pacific region.
Global Automotive Garage Equipment Market By Region
- Largest
- Fastest
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Automotive Garage Equipment Market Dynamics
Drivers
Emphasis on Vehicle Safety
- Incidence of vehicle accidents has increased around the world, and this has resulted in a hike in awareness regarding vehicle safety. This is why more and more people are bringing their vehicles to garages and driving automotive garage equipment market growth.
Expansion of Aftermarket Industry
- Growing use of automotive aftermarket components for vehicle modification and beautification of vehicles as per owners’ taste is also predicted to bolster the demand for automotive garage equipment over the coming years.
Restraints
Shortage of Skilled Labor
- Using automotive garage equipment requires a certain level of skill and expertise, the shortage of labor and technicians that can use automotive garage equipment is projected to slow down the market growth in the future.
High Initial Costs
- Advanced automotive garage equipment can be quite expensive and not easy to procure for individuals and garages with a limited budget. This is why the high initial costs are projected to impede automotive garage equipment market development going forward.
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Automotive Garage Equipment Market Competitive Landscape
Automotive garage equipment manufacturers should invest in increasing their manufacturing capacity to meet the surging demand and localize their manufacturing activity to create affordable products. Companies can also opt for strategies such as mergers, acquisitions, and collaborations to enhance their global market presence and share in the long run. Collaborating with automotive companies could also offer highly attractive new business opportunities for automotive garage equipment suppliers going forward.
Top Player’s Company Profiles
- Robert Bosch GmbH (Germany)
- Snap-On Incorporated (U.S.)
- Continental AG (Germany)
- Istobal S.A. (Spain)
- Boston Garage Equipment Ltd (U.K.)
- Gray Manufacturing Company Inc. (U.S.)
- Vehicle Service Group (U.S.)
- Arex Test Systems B.V. (Netherlands)
- VisiCon Automatisierungstechnik GmbH (Germany)
- Guangzhou Jingjia Auto Equipment Co. Ltd (China)
- ARO Equipments Pvt. Ltd. (India)
- Hunter Engineering Company (U.S.)
- Corghi S.p.A. (Italy)
- The Lincoln Electric Company (U.S.)
- BendPak Inc. (U.S.)
- CEMB S.p.A. (Italy)
- Hofmann Megaplan GmbH (Germany)
- MAHA Mechanical Engineering Haldenwang GmbH & Co. KG (Germany)
- Teco Automotive Equipment (Italy)
- Nussbaum Automotive Solutions (Germany)
Recent Developments
- In November 2023, Launch Tech UK showcased its new set of garage equipment and diagnostic tools designed for electric vehicles at the Mechanex event.
- In February 2024, Vehicle Service Group (VSG), a renowned name in the automotive space, announced the launch of its new suspended pit lift called Portal Lift 17 Vario for use in the EMEA region.
Automotive Garage Equipment Key Market Trends
- Creation of Electric and Hybrid Vehicle Servicing Equipment: Automotive garage equipment manufacturers can target the growing popularity of electric vehicles and hybrid vehicles to create new equipment that is designed to service and maintain the vehicles as they are fundamentally different from traditional vehicles and same tools cannot be used for them.
Automotive Garage Equipment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per our analysis, growing sales of vehicles and increasing emphasis on vehicle safety are projected to primarily augment the demand for automotive garage equipment over the coming years. However, a lack of skilled technicians and high initial investments are slated to be key roadblocks for automotive garage equipment market development across the forecast period and beyond. North America is slated to account for a dominant chunk of the global automotive garage equipment sales on the back of a robust vehicle restoration culture and high consumer spending potential. Creating affordable automotive garage equipment is slated to be the prime focus of automotive garage equipment companies in the future. Developing automotive garage equipment for electric vehicles and hybrid vehicles will offer new growth opportunities for automotive garage equipment market players.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.3 billion |
| Market size value in 2031 | USD 13.5 billion |
| Growth Rate | 7.1% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Garage Equipment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Garage Equipment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Garage Equipment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Garage Equipment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Garage Equipment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Garage Equipment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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