Automotive Test Equipment Market Overview:
Many of the
leading automotive manufacturers like McLaren, Ferrari and Porsche sense the
opportunities in the market and focus heavily on building hybrid engines for
their vehicles. In addition to hybrid vehicles, electric vehicles are also
observing immense demand across developing countries like India and China,
which MRFR touts to be a significant growth booster in the automotive testing
tools market.
The Automotive Test Equipment Market 2023 is all set to achieve a strong
valuation of close to USD 4.5 billion by 2032, presumes Market Research Future
(MRFR). The market is also anticipated to progress at a rate of 4% between 2024
and 2032, reveals the study by MRFR. We will provide COVID-19 impact analysis
with the report, offering an in-depth review of the market following the
coronavirus disease outbreak.
Top Drivers and Key Challenges
MRFR
identifies the top impacting factors to be the increasing concerns with regard
to vehicle safety and the growing number of road accidents. Road accidents have
surged at an alarming pace across regions where less strict safety rules are
prevalent, leading to higher need for safety features and change in purchase behavior
of the customers. This factor has also prompted manufacturers to concentrate
more on developing better quality passive and active safety features in their vehicles.
The mounting safety consciousness among drivers has led to a dire need for
strict quality checks, boosting the demand for automotive test equipment. The
market for automotive test equipment can also be positively impacted by the
soaring popularity of hybrid vehicles, a trend that is expected to gain more
prevalence in the coming years.
Get Free Sample Report of Automotive Test
Equipment Market
Prominent Companies
Softing AG
(Germany), Honeywell International Inc. (US), ABB Ltd (Switzerland), Advantest
Corp (Japan), Teradyne Inc. (US), Horiba Ltd. (Japan), Siemens (Germany), Robert
Bosch GmbH (Germany), Actia S.A. (France), Delphi Automotive PLC (UK), are the
most prominent companies in the Automotive Test Equipment Market.
What is automotive testing equipment?
Automotive testing
equipment is a broad term that encompasses a wide range of tools and machines
used to assess the performance, safety, and functionality of vehicles and their
components. These equipments are crucial for ensuring that cars meet industry standards
and are safe for drivers and passengers.
Here's a breakdown of the
different categories:
- Vehicle Testing Equipment: This
includes machines used for performance testing like dynamometers (to
measure engine power and torque), chassis dynamometers (to simulate
real-world driving conditions), and emission analyzers (to measure exhaust
gases).
- Component Testing Equipment: This type
of equipment is used to test individual parts of a vehicle, such as
engines, transmissions, brakes, and electrical systems. Examples include
engine dynamometers, stress rigs, and vibration testers.
- Diagnostic Tools: These are
handheld or computerized devices used by mechanics to troubleshoot
problems with vehicles. Common examples include scan tools, multimeters,
and oscilloscopes.
All these tools and
machines fall under the umbrella of automotive testing equipment.
An automotive tester, on
the other hand, is a specific tool, usually electronic, used to diagnose
problems with a vehicle's electrical system. It can read and interpret data
from the vehicle's sensors and computers, helping mechanics identify the source
of an issue. Scan tools are a common type of automotive tester.
Recent News
May 2020
AB Dynamics is
now an owner of a new testing service division, to bring down the mounting complexity
of automotive tests. These testing services will be segmented into
three sections, namely training, testing and consultancy. The company’s Simpia
toolchain software, an automotive test equipment, will prevent repetitive AV or
ADAS tests and can facilitate perfect replication on the test track, from
virtual testing on simulators to real life.
Automotive Test Equipment Market COVID-19
Analysis
The novel
coronavirus has left every industry in a lurch, including the automotive
sector. The short term impact has led to manufacturing units closing down due
to the lockdown policy imposed by the governments. Production units are facing issues
in the form of lack of staff because of the social distancing practice induced
by the pandemic. SARS-CoV-2 has resulted in showrooms getting closed shut, and
a downfall has been noted in vehicle sales across the world. The automotive
industry is struggling in the light of economic crisis due to the COVID-19
outbreak, coupled with disruption in the supply chain network across the globe.
Having said
that, the automotive industry can expect some relief from the several mitigation
measures that are being taken by governments of various regions. For instance,
the European Union is backing the automotive industry with the Pandemic
Emergency Purchase Program, which helps buy commercial papers and sovereign
bonds from the commercial firms and member states while maintaining liquidity
within the financial system. EU has also relaxed its regulations and is willing
to expand the size of any asset purchase for extended period. With the advent
of contingency plans across countries and financial institutions proposing
relief plans, the automotive industry and in turn, the automotive test
equipment can remain profitable despite the COVID-19 impact.
Automotive Test Equipment Market Segmentation
The
automotive test equipment industry has been considered for segments such as product
type, vehicle type as well as application.
The product
types listed in the market study are chassis dynamometer, wheel alignment
tester, vehicle emission test system and engine dynamometer.
The vehicle
type-based categories include light commercial vehicle, heavy commercial
vehicle and passenger car.
The application
areas of automotive test equipment include pc/laptop-based scan tool, handheld
scan tool, mobile device-based scan tool, and more.
Regional Outlook
The key
markets for automotive test equipment covered in the report are North America, APAC
or Asia Pacific, Europe, and RoW or the rest of the world.
The biggest
gainer in the coming years is expected to be the APAC market, backed by the
consistent growth in the urban population, considerable spending on
technological innovation, and the surge in automobile exports. Japan, India and
China are the most lucrative markets in the region, since these countries are
increasingly observing expansion of the manufacturing sector and the emerging
trend of chassis dynamometers and other innovative automotive products.
Europe, with
the second lead in the global market, profits from financial stability and the massive
customer base in the automotive industry. The high demand for vehicles also
prompts leading manufacturers in the region to boost their manufacturing
activities to produce more advanced vehicles fitted with the latest technologies.
It is also projected that the competition between vendors in the Automotive
Test Equipment Market can intensify in the following years, in light of the
increasing technological innovations and product extensions.
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