Dublin, Jan. 20, 2021 (GLOBE NEWSWIRE) -- The "Automotive Test Equipment Market by Product (Engine, Chassis, and Transmission Dynamometer, Vehicle Emission, Wheel Alignment, & Fuel Injection Pump Tester), End Market, Vehicle, Application, Advance Technology, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global automotive test equipment market is projected to reach USD 3,703 Million by 2025, at a CAGR of 4.1%. Major Players are Robert Bosch (Germany), Delphi Technologies (UK), Siemens (Germany), Horiba Ltd (Japan), Honeywell International Inc (US), etc.
Strict government regulations regarding fuel efficiency and carbon emissions and an increase in sales of passenger cars and commercial vehicles have driven the automotive test equipment market globally
Increased advancements in the test equipment technology will boost the automotive test equipment market. However, maintaining a balance between high accuracy, performance, quality, and cost act as a hurdle for the growth of the automotive test equipment market.
Improved performance of the PC/laptop equipment, in terms of processing power and storage, is expected to drive the PC/laptop-based equipment market
PC/Laptop based testing equipment is primarily a hardware and software bundle, covering all the necessary cables, hardware, and software. These PC-based systems are boasted with an extremely rich feature-set, such as the capability to plot and log sensor data, calculate fuel efficiency, estimate horsepower, and torque.
Main highlights of this segment:
- Large, easy-to-read display; capable of displaying graphs, fuel maps, and digital gauges in full color.
- Unlimited processing power: For calculating and graphing real-time parameters on-the-fly, without any lag.
- Gigabytes of storage: Worth of data recording capability.
- A wide selection of diagnostic software that can be easily updated
OEM R&D/technical center market is projected to grow fastest during the forecast period
Heavy investments by vehicle manufacturers in research and development for the automobile technologies are contributing to the growth of the test equipment market. To offer high-quality products and features in the vehicles, the automakers make various automotive components that undergo testing processes to comply with the standards as per the regulations. This factor makes the R&D centers of vehicle manufacturers a major testing hub for the assessment of several automotive mechanisms and advanced technologies. Hence, the OEM R&D/technical center market of the automotive test equipment market, by the end market type, is projected to grow the fastest.
North America is expected to record the second largest market during the forecast period
Asia Pacific is estimated to be the largest automotive market, followed by North America and Europe. North America is home to leading vehicle manufacturers such as Ford Motors, General Motors, and Tesla. The North American automotive industry has witnessed rapid development because of favorable policies adopted by the governments in the manufacturing sector. The US is estimated to account for the largest share of the North American automotive test equipment market during the forecast period. The US automotive industry is highly inclined toward innovation, technology, and the development of high-performance and fuel-efficient vehicles. Factors such as stringent emission norms and rising demand for vehicle dynamics are expected to propel the automotive test equipment market in North America.
Research Coverage
The market study covers the automotive test equipment market across different segments. It aims at estimating the market size and future growth potential of this market across different segments such as by product type, vehicle type, application type, end market type, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Market Dynamics
- Drivers
- Increasing Electric Vehicle Production and Autonomous Vehicle Testing
- Increasing Electronic Architecture in Modern Vehicles
- Rise in Stringent Emissions Norms to Prevent Environmental Impact
- Technological Advancements in Automotive Test Equipment
- Restraints
- High Cost of Advanced Technology Equipment
- Lack of Trained Workforce for Advanced Test Equipment
- Lack of R&D Facilities for Automotive Test Equipment
- Opportunities
- Analyzing Real-Time Vehicle Data and Simulation Testing
- Increased Demand for High-Performance Vehicles
- Growing Demand for Onboard Diagnostic Tools
- Challenges
- Maintaining a Balance Between High Cost & Performance of Test Equipment
Companies Mentioned
- ABB
- Actia Group
- Ampro Testing Machines
- Autel
- AVL
- Continental AG
- Delphi Technologies
- Denso
- DSA Daten- Und Systemtechnik
- EM Test
- Fluke
- Honeywell International Inc
- Horiba, Ltd.
- Intertek
- Ipetronik
- Maha Maschinenbau Haldenwang
- Moog
- MTS
- NSM Solutions
- PTM Electronics
- Racelogic
- Robert Bosch GmbH
- Rohde-Schwarz
- SGS SA
- Siemens
- Sierra Instruments
- Sinfonia
- Softing AG
- TUV SUD
- Vector Informatik GmbH
For more information about this report visit https://www.researchandmarkets.com/r/tlugsd
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