The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global automotive garage equipment market is on a steady ascent, marking a rise from $7.58 billion in 2022 to $8.07 billion in 2023, exhibiting a commendable compound annual growth rate (CAGR) of 6.5%. Projections are optimistic, foreseeing a further boost to $10.81 billion by 2027, with a CAGR of 7.6%. This growth is driven by transformative factors reshaping the automotive landscape.

1. Riding the Wave: Autonomous Vehicles as Catalysts The advent of autonomous vehicles is a pivotal force propelling the automotive garage equipment market forward. As vehicles capable of operating without human intervention become increasingly prevalent, the automotive industry is witnessing a paradigm shift. The surge in autonomous vehicles aligns with the anticipation of new mobility solutions in the automotive sector driven by automation in systems, software, and services.

• Diverse Forms of Automation: Depending on the level of automation, various types of self-driving vehicles are emerging.
• Real-World Examples: Meituan’s autonomous delivery cars in Beijing’s Shunyi District and the expected global production of 800,000 self-driving cars between 2023 and 2030 illustrate the expanding role of automation.

2. Industry Players Shaping the Landscape Key players in the automotive garage equipment market play a crucial role in steering the industry’s trajectory. Among them are influential entities such as Gray Manufacturing Company Inc., Snap-On Incorporated, and Continental AG, each contributing to the sector’s growth and evolution.
3. Technological Leap: Advancements Driving Change Technological advancements stand out as a defining trend in the automotive garage equipment market. The industry is undergoing a transformation, with equipment manufacturers continually innovating to enhance operational efficiency and streamline day-to-day workshop activities.

• Innovative Offerings: Cemb, an Italy-based garage equipment manufacturer, introduced Argos Drivethru, a wheel alignment inspection system, showcasing the industry’s commitment to cutting-edge technology.
• Enhanced Operations: New technologies are making workshops easier to manage and boosting overall production capabilities.

4. Market Segmentation: Understanding the Dynamics A nuanced understanding of the automotive garage equipment market is essential, and segmentation provides clarity on its multifaceted nature.

• By Installation Type: Mobile, Fixed
• By Vehicle Type: Passenger Cars, Commercial Vehicles
• By Type: Lifting Equipment, Body Shop Equipment, Wheel and Tire Service Equipment, Vehicle Diagnostic and Testing Equipment, Washing Equipment, Other Types
• By Application: Automotive OEM Dealerships, Franchise Stores, Independent Garages

5. Regional Dominance: Asia-Pacific Takes the Lead As of 2022, Asia-Pacific emerges as the dominant region in the automotive garage equipment market. The region’s prominence is underscored by its robust automotive industry and a burgeoning demand for garage equipment.

View More On The Automotive Garage Equipment Market Report 2023 – https://www.thebusinessresearchcompany.com/report/automotive-garage-equipment-global-market-report

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The Automotive Garage Equipment Global Market Report 2023  provides comprehensive insights on the automotive garage equipment market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the automotive garage equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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