Automotive Test Equipment Market Growth and Status Explored in a New Research Report 2020
A recent market research report, Automotive Test Equipment Market, provides insightful information to clients increasing their basic leadership size and examines distinct significant aspects of the business, including industry surroundings, segmentation analysis, and competitive outlook. It can enable manufacturers or change their production and marketing strategies in order to envisage maximum growth. The study identifies specific and important factors affecting the market for the automotive test equipment during the forecast period.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Robert Bosch GmbH
- Honeywell International Inc
- ABB Ltd.
- Delphi Automotive PLC
- Actia S.A.
- Advantest Corp
- Horiba Ltd.
- Teradyne Inc.
According to the report due to increasing demand from the automobile industry for various applications is expected to drive the market growth of the automotive test equipment market during the forecast period.
The increasing demand for safety and comfort features has resulted in tremendous developments and R&D initiatives by OEMs and automobile suppliers to check electronic components and comply with government regulations. Furthermore, due to the incorporation of electronic technology the overall weight of the vehicles has increased. Automotive fuel consumption and emissions regulations would improve the market demand for car test equipment.
Automotive testing methods are used to check a vehicle’s quality and performance. In addition, they are used to test various other vehicle variables such as fuel consumption, fuel dilatation, etc., along with a vehicle’s after tuning performance figures. There are various types of gear such as wheel alignment, engine dyno, frame dyno, etc. Testing ensures vehicles are safe and stable.
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Segmentation for better understanding of this market and its growth prospects :
Based on vehicle type, the passenger car segment is expected to be the largest vehicle test equipment market during the forecast period. Growing consumer buying power and increasing demand for passenger vehicles in developing and developed countries have led to the growth of the passenger vehicle automotive test equipment industry. In addition, the increasing stringency of emission-related regulations and vehicle safety efficiency in several countries has inflated the market for automotive testing equipment.
Based on the application, the computer-based segment expected to significant growth. Computer-based testing equipment is primarily a package of hardware and software, covering all the cables, hardware and software required. The features of these computer-based systems are the ability to map and log sensor data, measure fuel efficiency, and estimate horsepower and torque.
Regional segmentation and analysis to understand growth patterns:
The market has been segmented in major regions to understand the global development and demand patterns of this market. Asia Pacific region dominates the market during the forecast period due to it emerged as a hub for automobile production.
The growing consumer purchasing power has intensified the region’s demand for automobiles. Price advantages for OEMs, low levels of automotive penetration and increased production of automobiles create lucrative market opportunities for automotive manufacturers and suppliers of automotive components.
Also, several major OEMs have also opened production plants in the region or joined hands with major domestic vehicle manufacturers, due to the availability of cheap labor and low cost of production. The Asia Pacific area is home to main car test equipment suppliers such as Horiba (Japan), Autel (China), and Sinfonia (Japan).
With many multinational manufacturers based in this area, North America and Western Europe were major markets for the automotive sector. In these regions, the automotive sector has been competitive in terms of technological advances and product shifts. With the development of the region’s automotive sector the Middle East promises strong market potential. Countries including the UAE, Saudi Arabia, Qatar, and Iran have diversified the industrial sector over the last few decades to boost the economy.
Market Segmentation:
By Type:
- Wheel Alignment
- Engine Dyno
- Chassis Dyno
- Vehicle Emission Test System
By Vehicle Type:
- Passenger Vehicles
- Commercial vehicles
By Application:
- Handheld Scan Tool
- Computer-Based Scan Tools
- Mobile Device Based Tools
By Region:
o North America
o Western Europe
o Eastern Europe
o Asia Pacific
o Middle East
o Rest of the World
Objectives of this report:
• To estimate market size for automotive test equipment market on regional and global basis.
• To identify major segments in automotive test equipment market and evaluate their market shares and demand.
• To provide a competitive scenario for the automotive test equipment market with major developments observed by key companies in the historic years.
• To evaluate key factors governing the dynamics of automotive test equipment market with their potential gravity during the forecast period.
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