The global automotive garage equipment market size was valued at $17.3 billion in 2022.,and is projected to reach $35.5 billion by 2032, growing at a CAGR of 7.5% from 2023 to 2032.
Report Key Highlighters:
- The market analysis covers 14 countries. The research includes regional and segment analysis of each country in terms of value ($million) for the projected period 2023-2032.
- The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to offer a balanced view of global markets and assist stakeholders in making educated decisions and achieve their most ambitious growth objectives.
- Over 3,700 product literature, annual reports, industry statements, and other comparable materials from major industry participants were reviewed to gain a better understanding of the market.
- The automotive garage equipment market share is highly fragmented, into several players including Ravaglioli S.p.A., Robert Bosch GmbH, Continental AG, Mac Tools, Snap-on Incorporated, MAHA Maschinenbau Haldenwang GmbH & Co. KG, Hofmann Megaplan GMbH, Hunter Engineering Company, SK Professional Tools, and Boston Garage Equipment Ltd. These companies have adopted strategies such as new product launches, contracts, expansions, agreements, mergers, and others to improve their market positioning.
Automotive garage equipment are tools and machinery utilized for the repair, maintenance and diagnostics work in a vehicle. This equipment are an essential part for performing routine inspection and maintenance work of vehicle, in order to make them perform efficiently. Automotive garage equipment may include handheld tools, power tools or specialized machinery to carry out dedicated work in a vehicle.
The global automotive garage equipment market growth is anticipated to witness strong growth rate during the review period, due to increasing inclination of customer towards vehicle modification and aesthetic enhancement such as engine tuning, suspension upgradation, exhaust system replacement, allow wheel replacement, custom paint & vinyl job and other enhancement. The growing inclination of automobile owners towards modification and aesthetic enhancement, due to rise in disposable income and increase penetration of custom modification and paints garages, is positively impacting the market for global automobile garage equipment market.
The sales of automotive garage equipment market is increasing globally owing to growing vehicle complexity in modern automobiles, and increase in demand for vehicle restoration, modification & upgradation, and increasing automotive sales globally. However, the volatility in the price of raw materials is anticipated to hinder the market growth during the review period. Furthermore, the development of the connected garage equipment and rise in demand for electric and hybrid vehicles is anticipated to create lucrative growth opportunities for the companies operating in the global market.
The global automotive garage equipment industry share has been segregated into component, garage type and region. Based on component the global market has been fragmented into lifting and hoisting equipment, diagnostic and testing equipment, wheel and tire equipment, hand tools and power tools, washing equipment, and others. By garage type the global automobile garage equipment market has been analyzed across OEM-authorized garages and independent garages. Based on region the global market is segmented into North America, Europe, Asia-Pacific, and LAMEA region.
In addition, the increase in sales of privately owned vehicles on a global level, especially in developing countries in the Latin-America and Asia-Pacific regions is escalated the demand for their regular maintenance and repair, thus creating more demand for automotive garage equipment. Likewise, the increase in government focus on promoting the use of electric and alternative fuel vehicles driving the demand for garage equipment. Furthermore, increase in privately owned garages or home garages in developed countries is anticipated to provide lucrative market growth opportunities during the forecast period.
Key Developments in the Automotive Garage Equipment Industry
The leading companies are adopting strategies such as acquisition, agreement, expansion, partnership, contracts, and product launches to strengthen their market position.
- On 1 September 2022, Continental AG launched DX280 DC and the CCP800, two exhaust emissions testers for car workshops. Through this strategy, Continental expanded its range of workshop equipment to get garages & testing organizations ready for upcoming legal tightening regarding vehicles‐™ particulate emissions.
- On 1 July 2021, SK Professional Tools was acquired by Hangzhou GreatStar Industrial Co., Ltd a major hand tool manufacturing company in Asia the acquisition will help in collaborating both the company patents, technology, and resources and serve a wide range of client base globally.
- On 1 December 2021, ravaglioli.com partnered with TEXA, a leader in the design, industrialization and construction of diagnostic tools and devices for remote diagnosis, to expand its automotive workshop offering & collaborate on new product development with combined technologies. This strategy offers expanded automotive workshops designed to respond to the challenges that have been introduced by new generations of vehicles.
- On 9 January 2020, Boston Garage Equipment launched easy-to-use, fully wireless decelerometer. The equipment can automatically transferred the data to the control PC via Bluetooth as soon as the device is within proximity.
Increasing Automobile Sales Globally
Over the course of the past ten years, worldwide sales of automobiles have increased significantly. The surge can be associated to innovations in technology as well as a surge in disposable income among individuals, particularly in developing nations.
For example according to a recent survey by published by the European Automobile Manufacturer Association the global car sales have increased by around 9% in the first three quarter of 2023.The Europe market witnessed sales growth of 20.4% from January to September in 2023 . Similarly, the Russia and Ukraine markets also experienced recovery after a substantial decline in 2022. In North America, car sales increased by 15.5% despite high inflation and rise in interest rates. In the Asia-Pacific region, particularly in Japan, sales increased by 17.8% despite the semiconductor shortage in 2022. Moreover, the India automobile market grew by 8.8% due to introduction of new vehicle models, rise in disposable income among consumer , and increased inclination of people towards personal mobility. Likewise, the South America market witnessed a stable growth rate during the same time as compared to other regions. The global automobile sales are linked to increase in governments inclination to push consumers toward buying electric vehicles by providing tax benefits and subsidies. Also, many countries globally have introduced vehicle scrapping policies, which include replacing old vehicles to lower CO2 emissions emitted through them. The growth of automobile sales globally is positively creating the need for more maintenance and services; thus, driving the demand for automobile garage equipment.
Increase in Vehicle Complexity and Advancement in Automotive Garage Equipment
Todays automobiles are becoming more complex due to implementation of modern technology, development of functionality & design, and increasing complexity of vehicles. Similarly, modern automobiles also utilized high end sensors and computer operated hardware and electronics.
Regulatory bodies globally have enacted certain laws pertaining to lower emissions from vehicles, increasing safety and overall performance of automobiles. Similarly, modern vehicles are equipped with ADAS, emergency braking, hybrid powertrains, autonomous driving, enhanced infotainment system, and others technologies. These new technologies integration make automobile more complex further creating demand for sophisticated garage equipment for their regular maintenance work.
Moreover, rapid advancement in garage equipment technology enabled system developers to integrate cutting-edge artificial intelligence and data analytics technology to enhance garage equipment efficiency and functionality. Likewise, in recent decade there has been increase penetration of predictive maintenance in vehicles for real time diagnostics and remote monitoring. Likewise, there is increasing inclination of consumers and fleet operators towards regular maintenance to ensure longevity and performance of vehicles. Thus, increase in vehicle complexity is creating more demand for regular vehicle maintenance and servicing, thus driving the automotive garage equipment market trends.
Volatility in Prices of Raw Materials
Raw materials prices specifically for iron, steel, plastic, special alloys and other materials required for manufacturing of automotive garage equipment, are seeing constant fluctuation in their prices. Likewise, there are limitations on sourcing of these raw materials. Automobile garage equipment includes heavy machinery such as lifts, diagnostics tools, and others, that require steel, iron and other metals to manufacture. The constant fluctuation in price of these raw material resulted in increasing overall cost of the overall equipment. Fluctuation in price of these raw materials have strong impact on production cost and profit margins ultimately hampering the growth of the automotive garage equipment market demand. Additionally, the shortage in raw materials resulted in delay in production of overall equipment and affect manufacturers, distributors, and end-users, thus hampering the entire supply chain.
Development of Connected Garage Equipment
Automotive garage equipment utilizes communication technology in order to interact and coordinate with each other, gather data, and collaborate with other garage equipment systems are termed as connected garage equipment. Connected garage equipment are equipped with sensors, connectivity modules, and integrated software, that enable real time information sharing, receiving software updates and in some instance operate autonomously. The connected garage also enables operators to remotely monitor and manage the garage operation by utilizing real time information, thus helping in efficiently handling workflow and improving time and resource management.
In 2019, The Driver and Vehicle Standards Agency (DVSA) and the Garage Equipment Association (GEA) announced they would be enforcing all new and replacement MOT testing equipment to be able to connect to new electronic recording services. The use of connected garage equipment for testing will reduce human error, eliminate slow processes, and eliminate fraud. With the help of MOT-connected equipment, some of this data can be sent to the DVSA MOT Testing Service (MTS) immediately from the test equipment. Thus, the development of connected garage equipment is anticipated to create lucrative growth opportunities for companies operating in the market.
Russia-Ukraine War Impact on Automotive Garage Equipment Industry
The Russia-Ukraine war has minimal impact on the global automotive garage equipment market outlook. However, hardware manufacturers of the garage equipment faced a severe shortage of raw materials that were sourced from Russia and Ukraine. In particular, with Russia being a major steel exporter globally, the war led to increase price of raw steel. The war also resulted in lowered production, limited supply, and disruption in the supply chain; thus, increasing the overall price for garage equipments. However, the demand for garage equipment grew in Russia and Ukraine as more vehicles were transformed or modified for use in military purposes. Furthermore, increase in demand for repair work needed for damaged vehicles in the battlefield further escalated the demand for automobile garage equipment.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the automotive garage equipment market analysis from 2022 to 2032 to identify the prevailing market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global market trends, key players, market segments, application areas, and market growth strategies.
Automotive Garage Equipment Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 35.5 billion |
 Growth Rate | CAGR of 7.5% |
 Forecast period | 2022 - 2032 |
 Report Pages | 278 |
 By Equipment Type |
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 By Garage Type |
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 By Region |
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 Key Market Players | Mac Tools, Hunter Engineering Company, Continental AG, Boston Garage Equipment, MAHA Maschinenbau Haldenwang GmbH & Co. KG, SK Tools LLC, Robert Bosch GmbH, Snap-On Incorporated, Hofmann Megaplan GmbH, ravaglioli.com |
Advanced Diagnostic Equipment are upcoming trend in the automotive garage equipment market.
Vehicle maintenance and service is the leading application of automotive garage equipment market.
Asia-Pacific is the largest region for the automotive garage equipment market.
The automotive garage equipment industry was valued at $17.28 in 2022.
Robert Bosch GmbH, Mac Tools, and MAHA Maschinenbau Haldenwang GmbH & Co. KG are some of the major companies operating in the market.
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