Global automotive test equipment marketPosted by pallavi on April 6th, 2021 Global automotive test equipment market was valued at US$ 2.23 Bn in 2019 and is expected to reach US$ 3.12 Bn by 2027, at a CAGR of 3.94% during a forecast period. Automotive test equipment is used to test the impact on handbrake tension, engine oil consumption, and interaction between fuel and lubricant. Automotive test equipment aid maintains the efficiency of the overall performance of the vehicle, hence play a vital role in enhancing the overall life of the vehicle. The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis. The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding automotive test equipment market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in automotive test equipment market. Passenger vehicle segment is expected to witness significant growth during the forecast period. Rising purchasing power of customers and growing demand for passenger vehicles in emerging and advanced countries have contributed to the growth of the automotive test equipment market for passenger vehicles. Moreover, the increasing stringency of mandates related to emissions and vehicle safety performance in some countries has inflated the demand for automotive test equipment. A chassis dynamometer is to measure vehicle performance with the aid of torque and speed measurements taken from roller drums that load the vehicle drive train through contact with the wheels. Various types of chassis dynamometers are used for the testing of LCVs and HCVs, depending upon the capacity of a vehicle. Owing to strict emission norms and demand for accuracy, mostly 1 roller chassis dynamometer is used in place of 2 rollers for enlargement of new vehicles. Asia Pacific is projected to account for the largest market share during the forecast period owing to the availability of cheap labor and low production cost, many major OEMs have launched production plants. Increasing purchasing power of consumers has triggered the demand for automobiles in the region. North America is expected to hold a significant market share over the forecast period owing to the early adoption of automotive up-gradation and increasing consumer preference for advanced vehicles.
Global Automotive Test Equipment Market by Vehicle • Passenger Vehicle • Engine Dynamometer • Mobile/Tablet Based Equipment • OEM Assembly Plant • North America • Honeywell Industrial Inc. This Report Is Submitted By :Maximize Market Research Company Customization of the report: Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities. About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors. Like it? Share it!More by this author |