CHICAGO, January 22, 2019 /PRNewswire/ --
According to the new market research report "Automotive Test Equipment Market by Product Type (Engine Dynamometer, Chassis Dynamometer, Vehicle Emission Test System, And Wheel Alignment Tester), Application, End Market, Advance Technology, Vehicle, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Global Automotive Test Equipment Market is projected to grow at a CAGR of 3.95% from USD 2.2 billion in 2018 to reach USD 2.9 billion by 2025. The growth of the Automotive Test Equipment Market is influenced by factors such as rise in stringent emission norms to prevent environmental impact, technological advancements in automotive test equipment, increasing electronic architecture in modern vehicles, and growing vehicle production.
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73 - Tables
48 - Figures
169 - Pages
Passenger Cars: Increased passenger car sales and technological advancement of test equipment is expected to drive the Automotive Test Equipment Market
The passenger cars segment is the largest of all the segments of the Automotive Test Equipment Market and is expected to witness significant growth during the forecast period. The increase in disposable income of consumers has pushed the demand for passenger cars, which, in turn, has driven the growth of the passenger car market of automotive test equipment. Moreover, growing trend of high performance and engine downsizing of passenger cars have created the need for accurate and rigorous testing of automotive parts.
Chassis Dynamometer: increasing number of production plants expected to drive chassis dynamometer market
The main function of a chassis dynamometer is to measure vehicle performance with the help of torque and speed measurements taken from roller drums that load the vehicle drive train through contact with the wheels. Different types of chassis dynamometers are used for the testing of LCVs and HCVs, depending upon the capacity of a vehicle. Owing to stringent emission norms and need for accuracy, mostly 1 roller chassis dynamometer is used in place of 2 rollers for development of new vehicles. Also, increasing investment in R&D in the automotive industry is driving chassis dynamometer market.
Asia Pacific: China is expected to lead the Asia Pacific market
The Asia Pacific region is estimated to be the largest and fastest growing Automotive Test Equipment Market. The region comprises some of the fastest developing economies of the world such as China and India. The Asia Pacific region is home to key suppliers of automotive test equipment such as Horiba (Japan), Autel (China), Denso (Japan), and Ampro Testing Machines (India). Factors such as the availability of cheap labor and favorable government policies help undertake mass production of automotive components in Asia Pacific, which results in lower prices. In addition, high investments by major OEMs in advanced technologies are providing further growth opportunities to the automotive test equipment manufacturers in this region.
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The global Automotive Test Equipment Market is dominated by major players such as ABB (Switzerland), Bosch (Germany), Horiba (Japan), Honeywell (US), Siemens (Germany), and Delphi (UK).
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