Garage Equipment Market Share, Current and Future Industry Trends with Forecasts 2026

Garage Equipment Market report provides major statistics on the state of the industry and is a valuable source of opportunities and developments for firms and individuals attentive in the market. This report majorly focused on the Garage Equipment market growth in demand, investment, trade and productivity with company profiles, product picture and specification. Garage Equipment market report forecasts revenues for key applications across key regions with Manufacturing Cost Structure Analysis, Product Overview and Scope of Garage Equipment market.

Global Garage Equipment Market is valued approximately at USD 5.67 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 7.50% over the forecast period 2019-2026. Garage Equipment are the equipment that are used to keep vehicle in good condition, as regular maintenance becomes highly essential.

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Various equipment that are being used in garage for maintenance of vehicle are lifting equipment, tire changer, emission equipment, wheel balancer and others equipment. For any automotive repair shop, the garage equipment are very crucial to deliver efficiency and perform  certain tasks. Rising production of vehicles such as cars, stringent emission norms by regulatory bodies and high utilization of connectivity services are few factors responsible for high CAGR of the market over the forecast period. For instance: Globally, it is estimated that cars production is nearly 73.5 billion in 2017, represent an increase from 72.1 billion in 2016, as per International Organization of Motor Vehicle Manufacturers (OICA). Moreover, rising demand for electronic control unit and other electronic features as well as increasing integration of advanced driver assistance system (ADAS) in vehicles are the major factor likely to offer lucrative growth opportunity to the market in the upcoming years. However, international trade regulations and increasing cost of vehicles are few factors anticipated to restrain the growth of global Garage Equipment market during the forecast period.

The regional analysis of global Garage Equipment Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the automotive industry is increasingly inclined towards technology, innovation and development of high-performance and fuel-efficient vehicles coupled with increasing number of vehicles in the region.
However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as rising demand for connected cars, high presence of independent garages & OEM dealerships, increasing sales of new energy vehicles and stringent emission policies that would create lucrative growth opportunities for the Garage Equipment market across Asia-Pacific region.
Major market player included in this report are:
Dover Corporation
Continental AG
Robert Bosch GmbH
Snap-On Incorporated
Fortive Corporation
Cemb S.P.A
Boston Garage Equipment Ltd
Aro Equipment Pvt. Ltd
Arex Test Systems B.V.
Beissbarth Automotive Service Equipment

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Function Type:
Mechanical
Electronic

By Garage Type:
OEM Authorized Garage
Independent Garage

By Installation Type:
Mobile
Fixed

By Equipment Type:
Body Shop Equipment
Diagnostic & Testing Equipment
Emission Equipment
Others

By Vehicle Type:
Passenger Car
Commercial Vehicle

Analysis of regional landscape:

  • Based on geographical terrain, the Garage Equipment market is segmented into North America, Europe, Asia-Pacific, Southeast Asia, Middle East and Africa, South America.
  • A performance summary of each region..
  • Insights into the total sales, growth rate, and revenue generated by each geography is provided.

Summary of the regional outlook documented in this report:

  • Consumption pattern and consumption rate with respected to each region.
  • Predicted consumption rates over the forecast period.
  • Market forecasts of key regions are detailed in the report.
  • Consumption market share solely based on the regional contribution.
  • Market share held by the listed geographies.

Full Report link:https://www.marketstudyreport.com/reports/global-garage-equipment-market-size-research?utm_source=MarketWatch&utm_medium=RV 

COVID-19, the disease it causes, surfaced in late 2019, and now had become a full-blown crisis worldwide. Over fifty key countries had declared a national emergency to combat coronavirus. With cases spreading, and the epicentre of the outbreak shifting to Europe, North America, India and Latin America, life in these regions has been upended the way it had been in Asia earlier in the developing crisis. As the coronavirus pandemic has worsened, the entertainment industry has been upended along with most every other facet of life. As experts work toward a better understanding, the world shudders in fear of the unknown, a worry that has rocked global financial markets, leading to daily volatility in the U.S. stock markets.

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