The market for automotive test equipment is expected to grow at a CAGR of around 3.5% from 2020 to 2027 and expected to reach the market value of around US$ 2,990.4 Mn by 2027.
Automotive test equipment is used to execute quality control tests particularly to ensure effective vehicle performance. This equipment are utilized to test the impact on handbrake tension, the interaction between fuel and lubricant, and engine oil consumption to maintain vehicle performance with efficiency.
The increasing electric vehicle production and autonomous vehicle testing across the globe are primarily driving the market growth. The increasing electronic architecture in modern vehicles and technological advancements in the automotive test equipment sector is supporting growth. The rising stringent emissions norms to prevent environmental impact by vehicle emissions are additionally propelling the market value. Furthermore, increased demand for high-performance vehicles and analysis of real-time vehicle data and simulation testing is projected to create potential demand over the period. The growing demand for onboard diagnostic tools and monetization of vehicle data is further expected to provide potential opportunities over the forecast period
On the other side, the high cost of advanced technology equipment and lack of trained & skilled workforce for advanced test equipment are the factors likely to hinder the market value.
Passenger Vehicle accounted for the major revenue share in the global market
By vehicle type, the passenger vehicle segment is leading the automotive test equipment market in 2019. The segment is also projected to maintain its demand over the forecast timeframe from 2020 to 2027. The segment is gaining growth on account of the increasing demand worldwide. The increasing need for advanced passenger vehicle features along with efficient working is accelerating the segmental market value.
PC/Laptop-Based Scan Tool segment has registered dominance in the Global Automotive Test Equipment Market
On the basis of application, the PC/laptop-based scan tool segment is dominating the global market with maximum revenue share (%). The segment is also projected to maintain its dominance over the forecast timeframe from 2020 to 2027. The features associated with the PC/laptop-based scan tool such as the capability to plot and log sensor data, calculate fuel efficiency and estimate horsepower and torque are supporting its growth in the global market.
The Asia Pacific is leading the Global Automotive Test Equipment Market with maximum share
In 2019, the Asia Pacific region accounted for the maximum revenue share (%) of the automotive test equipment market. The region is further anticipated to maintain its dominance throughout the estimated period from 2020 to 2027. The high demand and production of passenger vehicles in the region are supporting the market value. The major economies of the region including Japan, China, and India are major contributors to the regional market value. The changing lifestyle and increasing disposable income of people along with their emerging economies are boosting the demand. Moreover, the region is also projected to exhibit the fastest growth over the estimated period.
The prominent players profiled in the report include ABB, Bosch, Continental, Delphi Technologies, Honeywell, Horiba, SGS, Siemens, and Softing. The major players were involved in strategic developments for increasing the profit share in regional as well as global market. The major investments were announced for the technological advancements associated with the changing vehicle infrastructure and consumer demand.
Market By Product
Wheel Alignment Tester
Vehicle Emission Test System
Market By Vehicle Type
Light Commercial Vehicle
Heavy Commercial Vehicle
Market By Application
Handheld Scan Tool
Mobile Device-Based Scan Tool
PC/Laptop-Based Scan Tool
Market By Geography
Middle East & Africa
The market for automotive test equipment is expected to reach a market value of around US$ 2,990.4 Mn by 2027.
The market for automotive test equipment is expected to grow at a CAGR of around 3.5% from 2020 to 2027.
The PC/laptop-based scan tool is the leading segment by application in the automotive test equipment market.
The passenger vehicle is the leading segment by vehicle type in the automotive test equipment market.
The increasing electric vehicle production and autonomous vehicle testing, increasing electronic architecture in modern vehicles and technological advancements in the automotive test equipment sector, and rising stringent emissions norms to prevent environmental impact by vehicle emission are some of the key drivers of the global automotive test equipment market.
ABB, Bosch, Continental, Delphi Technologies, Honeywell, Horiba, SGS, Siemens, and Softing are the prominent players in the market.
Asia Pacific held the highest market share in the automotive test equipment market.