Automotive Test Equipment Market Share Overview:
Many of the leading automotive manufacturers like McLaren, Ferrari and Porsche sense the opportunities in the market and focus heavily on building hybrid engines for their vehicles. In addition to hybrid vehicles, electric vehicles are also observing immense demand across developing countries like India and China, which MRFR touts to be a significant growth booster in the automotive testing tools market.
The Automotive Test Equipment Market Share 2023 is all set to achieve a strong valuation of close to USD 4.5 billion by 2032, presumes Market Research Future (MRFR). The market is also anticipated to progress at a rate of 4% between 2024 and 2032, reveals the study by MRFR. We will provide COVID-19 impact analysis with the report, offering an in-depth review of the market following the coronavirus disease outbreak.
Top Drivers and Key Challenges
MRFR identifies the top impacting factors to be the increasing concerns with regard to vehicle safety and the growing number of road accidents. Road accidents have surged at an alarming pace across regions where less strict safety rules are prevalent, leading to higher need for safety features and change in purchase behavior of the customers. This factor has also prompted manufacturers to concentrate more on developing better quality passive and active safety features in their vehicles. The mounting safety consciousness among drivers has led to a dire need for strict quality checks, boosting the demand for automotive test equipment. The market for automotive test equipment can also be positively impacted by the soaring popularity of hybrid vehicles, a trend that is expected to gain more prevalence in the coming years.
Get Free Sample Report of Automotive Test Equipment Market Share
Prominent Companies
Softing AG (Germany), Honeywell International Inc. (US), ABB Ltd (Switzerland), Advantest Corp (Japan), Teradyne Inc. (US), Horiba Ltd. (Japan), Siemens (Germany), Robert Bosch GmbH (Germany), Actia S.A. (France), Delphi Automotive PLC (UK), are the most prominent companies in the Automotive Test Equipment Market Share.
What is automotive testing equipment?
Automotive testing equipment is a broad term that encompasses a wide range of tools and machines used to assess the performance, safety, and functionality of vehicles and their components. These equipments are crucial for ensuring that cars meet industry standards and are safe for drivers and passengers.
Here's a breakdown of the different categories:
- Vehicle Testing Equipment: This includes machines used for performance testing like dynamometers (to measure engine power and torque), chassis dynamometers (to simulate real-world driving conditions), and emission analyzers (to measure exhaust gases).
- Component Testing Equipment: This type of equipment is used to test individual parts of a vehicle, such as engines, transmissions, brakes, and electrical systems. Examples include engine dynamometers, stress rigs, and vibration testers.
- Diagnostic Tools: These are handheld or computerized devices used by mechanics to troubleshoot problems with vehicles. Common examples include scan tools, multimeters, and oscilloscopes.
All these tools and machines fall under the umbrella of automotive testing equipment.
An automotive tester, on the other hand, is a specific tool, usually electronic, used to diagnose problems with a vehicle's electrical system. It can read and interpret data from the vehicle's sensors and computers, helping mechanics identify the source of an issue. Scan tools are a common type of automotive tester.
Recent News
May 2020
AB Dynamics is now an owner of a new testing service division, to bring down the mounting complexity of automotive tests. These testing services will be segmented into three sections, namely training, testing and consultancy. The company’s Simpia toolchain software, an automotive test equipment, will prevent repetitive AV or ADAS tests and can facilitate perfect replication on the test track, from virtual testing on simulators to real life.
Automotive Test Equipment Market Share COVID-19 Analysis
The novel coronavirus has left every industry in a lurch, including the automotive sector. The short term impact has led to manufacturing units closing down due to the lockdown policy imposed by the governments. Production units are facing issues in the form of lack of staff because of the social distancing practice induced by the pandemic. SARS-CoV-2 has resulted in showrooms getting closed shut, and a downfall has been noted in vehicle sales across the world. The automotive industry is struggling in the light of economic crisis due to the COVID-19 outbreak, coupled with disruption in the supply chain network across the globe.
Having said that, the automotive industry can expect some relief from the several mitigation measures that are being taken by governments of various regions. For instance, the European Union is backing the automotive industry with the Pandemic Emergency Purchase Program, which helps buy commercial papers and sovereign bonds from the commercial firms and member states while maintaining liquidity within the financial system. EU has also relaxed its regulations and is willing to expand the size of any asset purchase for extended period. With the advent of contingency plans across countries and financial institutions proposing relief plans, the automotive industry and in turn, the automotive test equipment can remain profitable despite the COVID-19 impact.
Automotive Test Equipment Market Share Segmentation
The automotive test equipment industry has been considered for segments such as product type, vehicle type as well as application.
The product types listed in the market study are chassis dynamometer, wheel alignment tester, vehicle emission test system and engine dynamometer.
The vehicle type-based categories include light commercial vehicle, heavy commercial vehicle and passenger car.
The application areas of automotive test equipment include pc/laptop-based scan tool, handheld scan tool, mobile device-based scan tool, and more.
Regional Outlook
The key markets for automotive test equipment covered in the report are North America, APAC or Asia Pacific, Europe, and RoW or the rest of the world.
The biggest gainer in the coming years is expected to be the APAC market, backed by the consistent growth in the urban population, considerable spending on technological innovation, and the surge in automobile exports. Japan, India and China are the most lucrative markets in the region, since these countries are increasingly observing expansion of the manufacturing sector and the emerging trend of chassis dynamometers and other innovative automotive products.
Europe, with the second lead in the global market, profits from financial stability and the massive customer base in the automotive industry. The high demand for vehicles also prompts leading manufacturers in the region to boost their manufacturing activities to produce more advanced vehicles fitted with the latest technologies. It is also projected that the competition between vendors in the Automotive Test Equipment Market Share can intensify in the following years, in light of the increasing technological innovations and product extensions.
Read more:
Automotive Special Purpose Logic Ic Market
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian