Automotive Test Equipment Market
Automotive Test Equipment Market Global Industry Assessment & Forecast
#
Pages:
169
2021
Nov - 2021
VMR-2021-0741
Segments Covered
By
Product Type Chassis Dynamometer, Engine Dynamometer, Wheel Alignment Tester, Vehicle Emission Test System
-
By
Application Handheld Scan Tool, Mobile Device-Based Scan Tool, PC/Laptop-Based Scan Tool
-
By
Vehicle Type Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
Snapshot
 Forecast
Years:
|
2021 - 2028 |
 Historical
Years:
|
2016 - 2020 |
 Revenue
2021: |
2.82 Billion |
 Revenue 2028:
|
9.35 Billion |
 Revenue CAGR
(2021 - 2028): |
4.52% |
Fastest Growing Region (2022 -
2028)
|
Asia Pacific |
Customization Offered
Cross-segment Market Size and
Analysis
for Mentioned Segments- Additional Company Profiles (Upto 5
With
No Cost)
- Additional Countries (Apart From
Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request
Customization Speak To
Analyst
Research Methodology: Automotive Test Equipment Market - Global Market Assessment, 2021 - 2028
The global Automotive Test Equipmentmarket research study is based on a comprehensive research methodology that is used to arrive at the market estimations and forecasts. This methodology aid analysts and to learn and understanding market facts and insights from the innermost levels of the market. The whole research process involves 3 major activities: Secondary Research, Primary Research, and Data Triangulation. Secondary resources are utilized to gain insights on the market and later primary research is conducted to revalidate the information and conclusion derived from the secondary research. Out of the total primary respondents, 24% were from North America, 29% were from Europe, 31% were from the Asia Pacific, and the rest of the respondents were from Latin America and MEA.
Secondary Research
Primary Research:
The information gained/procured from the secondary data sources is validated through extensive primary interviews with industry experts across the Automotive Test Equipment supply chain. The primary research is also conducted to identify key players in the market and to gather and validate already procured information pertaining to their market-specific financial information. Moreover, primary research is used to gain/validate information about:
- Automotive Test Equipment market size at regional and country level
- Understanding market developments, future growth prospects, and upcoming challenges
- Overview of the Automotive Test Equipment supply chain and overall ecosystem
Data Triangulation and Market Size Estimations
The information procured from the secondary and primary resources is undergone through data triangulation methods to attain more accurate results on quantitative and qualitative analysis for specific market research studies. This helps to study any minutest details of the market along with building a clearer market-specific view for revenue estimations, industry trends, within each end-use industry, and estimate future trends within the market. After arriving at the global market numbers, top-down and bottom-up approaches are used to estimate, validate and finalize the market size of the Automotive Test Equipment market.
FAQ
Frequently Asked Question
What is the global demand for Automotive Test Equipment in terms of revenue?
-
The global Automotive Test Equipment valued at 2.82 Billion in 2020 and is expected to reach 9.35 Billion in 2028 growing at a CAGR of 4.52%%.
Which are the prominent players in the market?
-
The prominent players in the market are Intertek, Tecnicas Reunidas de Automocion, Presto Testing Instruments, SPACE S.R.L, Robert Bosch, Freese Enterprises, Moog, Horiba, Sierra Instruments, Honeywell International, AB Dynamics, ABB, SENSORS INDIA, Delphi Automotive, Tesscorn, ACTIA Group, Advantest, Sushma Industries, ATS ELGI, SAJ, EM Test..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 4.52%% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Automotive Test Equipment include
- The increasing concerns for environmental sustainability are anticipated to prompt the automotive manufacturers to integrate several changes in the manufacturing of the automobiles. The automotive players are now incorporating test equipment and implementing it to detect the emission levels in accordance with the law. There are emission standards implemented by regulatory that every vehicle must follow. The vehicle emission test system tests whether the vehicle follows the required standards of the industry. Furthermore, these test equipment can also be utilized in detecting the emission level of passenger cars and improve its fuel efficiency are factors driving the market.
- The rising vehicle sale and manufacturing across the globe is anticipated to augment the growth of the automotive test equipment market during the forecast period. This is owing to the rapid urbanization, industrialization, rising disposable income of the consumers, and advancement of technologies. Furthermore, the adoption of personal vehicles has also increased the global sales and production of automobiles which is driving the growth of the automotive test equipment market.
Which region accounted for the largest share in the market?
-
Asia Pacific was the leading regional segment of the Automotive Test Equipment in 2020.
