A boom in the automotive sector has given substantial rise to a burgeoning automotive garage equipment market. With the consistent rise in automotive sales, the related service and maintenance sector has experienced tremendous growth over time. Apart from authorized service centers, multi-brand service centers have come into existence, thereby driving additional demand for related garage equipment. With growing automotive and related service and maintenance sectors, the demand for automotive garage equipment is bound to remain strong over the forecast period. Another prominent factor driving the automotive garage equipment market is the increasing average age of vehicles. In addition, growing consumer awareness and spending on vehicle safety are further escalating the automotive garage equipment market’s growth.
Automotive garage equipment includes a wide array of products, including air compressors, automotive jacks, battery chargers, engine tools, jack mounts, welding tools, and other automotive maintenance-related tools. One of the most prominent trends observed in the automotive garage equipment market is the increase in OEM dealerships. With consumers’ increasing preference for quality and authentic products, service centers are increasingly entering into partnerships with OEMs. This is primarily followed by third-party multi-brand service centers with the aim of providing enhanced-quality service to their customers.
Asia Pacific dominates the global automotive garage equipment market and is expected to grow at the highest rate over the forecast period. Asia Pacific is the leading geographical region for the production of light vehicles, with more than 30% of global production. With rising automotive sales, shares of the automotive garage equipment market are set to witness an upswing in the coming years. The automotive garage equipment market is significantly unorganized in the Asia Pacific region. Due to this unorganized nature of the market, the independent garage segment holds the largest share of the automotive garage equipment market in the Asia Pacific.
On the other hand, rising franchise penetration, growing consumer awareness of the quality of service offered, and the pairing up of small independent shops with fleet operators to gain more maintenance contracts are shifting the nature of the automotive garage equipment market towards the organized service sector. Europe holds the second position in market share due to the presence of a huge automobile manufacturing sector.
The global automotive garage equipment market is segmented on the following basis:
- Lifting Equipment
- Testing Equipment
- Diagnostic Instruments
- Wheel and Tire Service Equipment
- Washing Equipment
- Others (air compressors, battery chargers, safety glasses, paint guns, etc.)
- Two Wheelers
- Passenger Cars
- Heavy Commercial Vehicle (HCV)
- Light Commercial Vehicle (LCV)
- Automotive Dealerships
- Independent Garage
- Others (specialty shops, tire shops, etc.)
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
Key players identified in the automotive garage equipment market include, but are not limited to:
Arex Test Systems B.V., Nussbaum Automotive Solutions L.P., Snap-on, Inc., VisiCon Automatisierungstechnik GmbH, Oil Lube Systems Pvt. Ltd., Standard Tools and Equipment Co., Inc., Symach SRL, Gray Manufacturing Company, Inc., Vehicle Service Group, Con Air Equipments Pvt. Ltd., Istobal S.A., LKQ Coatings Ltd., Aro Equipments Pvt. Ltd., Continental AG, Robert Bosch GmbH, MAHA Mechanical Engineering Haldenwang GmbH & Co. KG, MAHA Mechanical Engineering Haldenwang GmbH & Co.