Automotive testing equipments have gained significant market portion due to the emphasis placed on testing automobiles before they are made available to end users. Market reports linked to the healthcare industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is anticipated to advance at an accelerated CAGR in the forecast period.
The need to perform checks on automobiles and test the performance of vehicles is reaching significant momentum as manufacturers aim to provide the best quality in the end products. The automobile industry is significantly emphasizing on the USP of safety, which is projected to expand the market share of automotive test equipment substantially in the forecast period.
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Segmental Analysis
The segmentation of the automotive test equipment market globally is carried out on the basis of product type, vehicle type, application, and region. On the basis of product type, the market is segmented into engine dynamometer, wheel alignment tester, vehicle emission test system and chassis dynamometer. The segmentation of the automotive test equipment market by vehicle type are heavy commercial vehicle, light commercial vehicle and passenger cars. The application segment of the automotive market consists of handheld scan tool, mobile device-based scan tool, PC/ Laptop based scan tool and others. On the basis of region, the market comprises of North America, Asia Pacific, Europe and rest of the world.
Detailed Regional Analysis
The regional analysis of the automotive test equipment market comprises of regions such as North America, Asia Pacific, Europe and the rest of the world. The Asia Pacific region is anticipated to control the automotive test equipment market owing to the incorporation of progressive features in the automotive industry and the surge in demand from developing nations such as China and India. The move of original equipment manufacturers to this region has led to a decline in the cost of procurement of the automotive test equipment. The European region is anticipated to be the second major automotive test equipment market by the end of the forecast period. The increased levels of disposable income of end users and the current big customer base have directed to the increase in the demand for vehicles in the region, which in turn has created a rise in the manufacturing activities by local automotive manufacturers. These factors are expected to positively lead to the development of the automotive test equipment market in the European region.
Competitive Analysis
The background for growth plans has equipped the market for potential new entrants. The improvement in the products and services is the chief factor escalating the market’s productivity and controlling the trends that are acquiring distinction in the market. The progress in the products and services is the foremost factor in growing the market’s productivity and controlling the trends that are acquiring standing in the market. The changes seen in terms of strategy execution and creation are varying the expansion pace of the market. The shortfalls in the market are filled due to the implementation of suitable supply chain strategies. The progress patterns are revised in tandem to the customer preferences to realize maximum growth, and in the long run, profitability. The critical success factors and players’ tendencies are gradually escalating by the strategies being used by market contenders.
The strategic contenders present in the automotive test equipment market are Honeywell International Inc. (U.S.), Robert Bosch GmbH (Germany), Delphi Automotive PLC (U.K.), Actia S.A. (France), Softing AG(Germany), ABB Ltd. (Switzerland), Horiba Ltd. (Japan), Advantest Corp (Japan), and Teradyne Inc. (U.S.) and others.
Industry Updates:
Sep 2018 Kistler Instruments is making its automotive vehicle test and measurement equipment, which is consumed by many OEMs globally, accessible via a rental service to the smaller specialist vehicle and component producers that cannot validate the capital investment in equipment needed for short-term projects.
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