According to FMI, the Automotive Test Equipment market share is estimated to be valued at US$ 3.1 Bn in 2022 and is projected to increase at a CAGR of 4.3% in the forecast period from 2022 to 2032.
Automotive test equipment is primarily used for adjustment of vehicle performance and executing the quality tests on the vehicle. Automotive test equipment are used for measuring the engine wear, lubricant aeration, engine oil consumption, fuel dilution and evaporation and clogging of after-treatment systems. These test equipment are also used for testing the impact on engine oil consumption, hand brake tension and for interaction between fuel and lubricant. The examples of automotive test equipment are used as engine dynamometer, vehicle emission test system, wheel alignment tester, chassis dynamometer, fatigue testing, impact testers, tire plunger testers, fogging testers, etc.
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Automotive test equipment are providing control over the stability of the vehicle and excelling the riding comfort, these advantages are fuelling the market for automotive test equipment.
Automotive Test Equipment Market: Drivers and Challenges
Expected growth in automotive industry is projected to fuel the growth in automotive test equipment market during the forecast period. As original equipment manufacturers are technologically advancing the automotive test equipment, the global automotive test equipment industry is expected to experience a growth during the forecast period. The growing demand for automotive test equipment from Asia Pacific and Middle East is fuelling the growth of the global automotive test equipment market. Stringent emission regulations regarding CO2 and NOX are boosting the demand for automotive test equipment globally.
Automotive test equipment market is facing a challenge of market maturity in the developed economies such as U.S.A., Canada, etc.
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Automotive Test Equipment Market: Overview
The global automotive test equipment market is expected to expand at a CAGR of around 4-7% during the forecast period (2016-2025), due to stringent government emission regulations (CO2 and NOX) and technological advancements.
Automotive Test Equipment Market: Key Players
Some of the key market participants in global automotive test equipment market are Robert Bosch gmbh, Siemens AG, Honeywell Industrial Inc., ABB Ltd, Delphi Automotive PLC, Actia S.A., etc.
The global automotive test equipment market can be segmented on the basis of type of vehicle, type of product and by regions.
Based on type of vehicle, the global automotive test equipment market is segmented as:
- Passenger Vehicles
- Commercial Vehicles
Based on type of product, the global automotive test equipment market is segmented as:
- Vehicle emission test system
- Wheel alignment tester
- Chassis dynamometer
- Engine dynamometer
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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