Automotive Garage Equipment Market Share and SizePosted by Devanand on August 12th, 2022 Market Overview Automotive garage equipment marketthroughout the historic forecast period, which concluded in 2019, the market size topped USD 6.1 billion, and it is expected to increase at a CAGR of 4.22 percent between 2021 and 2027. Furthermore, the number of new development projects in both the residential sector and commercial sectors has increased rapidly, with expanding industrialization and urbanization supporting industry growth. As a result, the market is expected to increase steadily and achieve a market value of USD 10.7 billion. Request Free Sample of Report @ https://www.marketresearchfuture.com/sample_request/7959 Post-warranty, most car owners seek private garages due to their low labor expenses. Genuine aftermarket products have also expanded dramatically in independent garages in order to target premium car owners. Furthermore, due to rising repair and maintenance expenses at OEM authorized garages, car owners are opting to have their vehicles serviced at independent garages. The COVID-19 epidemic has spread throughout the world. The WHO declared coronavirus a pandemic in March 2020, resulting in lockdowns in the majority of countries. The acceptance of automated developed technologies to minimize human interaction in production and manufacturing facilities, on the other hand, is required to support the pervasive expansion of the market automotive garage equipment market all through the forecast period, which will end in 2027. Growing sales of excavators and associated items are expected to play a significant role in income generation for the automotive garage equipment market. The items' increased demand can be traced to their widespread use in the building of residential and business structures. Speak to Analyst @ https://www.marketresearchfuture.com/ask_for_schedule_call/7959 Key Players
Market Segmentation The great performance of market segments, followed by rising revenue, can be credited to the growth of the automotive garage equipment market. Furthermore, market segments are anticipated to match the growing wants of the target audience, assisting in the market's expansion and growth as predicted. As a result, the worldwide automotive garage equipment market is segmented as follows: Based on garage type
Based on application
Based on the installation type
Based on function type
Based on vehicle type
Regional Classification During the forecast period, which ends in 2027, the Asia Pacific region is predicted to dominate the worldwide automotive garage equipment market, led by Europe and North America. The automotive sector in North America is among the most advanced in the world. The United States has a significant role to play in driving regional growth. The country's automotive sector is focused on innovation, technologies, and the creation of high-performance, fuel-efficient vehicles. The country is likely to play an important role in the development of driverless vehicles in the United States. In addition, commercial vehicle sales climbed by 6.9 percent in 2018 to 15,152,39 units. Industry News
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