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Allied Market Research

Garage Equipment Market by Garage Type (OEM Authorized Garage and Independent Garage), by Application (Body Shop Equipment, Diagnostic & Testing Equipment, Emission Equipment, Lifting Equipment, Washing Equipment, Wheel & Tire Equipment, and Others), by Installation Type (Mobile and Fixed), by Function Type (Electronic and Mechanical), and by Vehicle Type (Commercial Vehicle and Passenger Vehicle): Global Opportunity Analysis and Industry Forecast, 2020–2027

A09076
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Jan 2021 | 55 Views
 
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COVID-19

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Garage Equipment Market Outlook - 2027

The need for timely preventive maintenance has gained significant importance in recent years. Most of the consumers are trying to keep their vehicle in proper condition as vehicle have become a vital product for everyday lives. The daily commuter segment is increasingly focusing on maintenance of the vehicles. Moreover, this has led to rise in garage equipment market. With rising safety equipment and increasing vehicular design changes, the need for advanced equipment have proliferated. The garage equipment consists of wheel and tire service equipment, lifting equipment, vehicle diagnostic & testing equipment, body shop equipment, washing equipment, and other tools.     

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD)

  Segments covered

Garage type, Application, Installation type, Function type, Vehicle type

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa

  Companies covered

Autec, Hunter Engineering Company, Ravaglioli, LINCOLN ELECTRIC HOLDINGS, CORGHI, Automotive Equipment International, CEMB USA, Hennesy Industries, HIGHVELD GARAGE EQUIPMENT, Intergrated Garage Equipment, Manatec Electronics Private Limited

 

COVID-19 scenario analysis: 

  • People around the world are observing social distancing measures by self-isolating, quarantining or working from home to halt the spread of the global COVID-19 pandemic.
  • Various industries have redirected the investments of R&D to sustain the core operation.
  • While the coronavirus (COVID-19) situation is constantly changing, the safety priority amidst the vehicle owner remain constant.
  • However, shortage of workers at vehicle garage services due to lockdown measures is affecting the market. 
  • Additionally, decrease in number of vehicles on roads due to the pandemic is affecting the business of vehicle garage and garage equipment market simultaneously.   

Top impacting factors: market scenario analysis, trends, drivers and impact analysis

Surge in production and sales of vehicles is primarily driving the Garage Equipment market. Additionally, increasing safety concerns amongst car consumers is favoring the garage equipment market. Besides, rising sales of used vehicles is propelling the market of garage equipment. Moreover, various mandates for regular inspection of vehicles are proliferating the market of garage equipment. However, increasing quality and decreasing cost of original equipment parts is reducing the repair activities and thereby hampering the market of garage equipment. Furthermore, introduction of newer technologies in automotive aftermarket is fueling the market growth. 

The garage equipment market trends are as follows:

New product launch to surge the market

With rising automotive demand across the world, the automotive and automotive component manufacturers are increasingly focusing on new product development activities to increase the customer base. Additionally, the rising development of electric vehicle is provoking the manufacturers to improve their product range and quality. In 2019, OMCN launched a new lift model 190/EV which is designed especially for electric vehicles. The lift is aimed to easily install and remove battery packs in electric vehicles. 

Increase in training centers to drive the growth

The demands from modern vehicle have increased significantly with the launch of newer technologies. Besides, the rising innovation and increasing investment in research and development have fulfilled the requirements for modern vehicles. The garage equipment market has also witnessed numerous developments to improve the durability and quality of the product. Moreover, the launch of newer highly efficient garage equipment has opened new doors for training centers. In 2019, MAHA has developed a new training center in Halden Wang. The center will provide hands-on training to workshop technicians.  

Key segments covered:

Segments

Sub-segments

  Garage type

  • OEM authorized garage
  • Independent garage

  Application

  • Body Shop Equipment
  • Diagnostic & Testing Equipment
  • Emission Equipment
  • Lifting Equipment
  • Washing Equipment
  • Wheel & Tire Equipment
  • Others

  Installation type

  • Mobile
  • Fixed

  Function type

  • Electronic
  • Mechanical

  Vehicle type

  • Commercial vehicle
  • Passenger vehicle


Key benefits of the report:

  • This study presents the analytical depiction of the Garage Equipment industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed Garage Equipment market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the garage equipment market research report:

  • Which are the leading market players active in the Garage Equipment market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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