The North America Automotive Garage Equipment Market would witness market growth of 6.4% CAGR during the forecast period (2023-2030).
Automotive garage equipment refers to tools and machinery used in automotive repair shops, service centres, and garages. These tools are essential for diagnosing, maintaining, and repairing vehicles. Modern vehicles have advanced technologies, electronics, and intricate mechanical components. As a result, these needs to evolve to address the complexity of these vehicles. Adopting diagnostic tools, computerized systems, and specialized equipment is essential to effectively identify and address issues within the intricate systems of contemporary automobiles. The automotive fleet is expanding, and vehicles on the road are aging.
Consumer expectations regarding the quality and efficiency of automotive services are higher than ever. Customers are inclined towards service providers employing advanced equipment for quicker diagnostics, precise repairs, and enhanced service quality. Automotive service centres invest in cutting-edge technology to fulfil these expectations and maintain their competitive edge. The increasing popularity of electric and hybrid vehicles introduces new challenges and opportunities for the automotive service industry. Service providers need to adapt and invest in specialized equipment to cater to the unique requirements of these alternative propulsion systems.
As per the International Trade Administration, Mexico City is the world’s fifth most populous city, with 21 million people and 33.4 million vehicles. In 2018, Mexico recorded a 68 percent increase in EV sales, and hybrid vehicle sales surpassed 17,800 units compared to 2017. 955,393 electric and hybrid vehicles were sold in 2019 from January through September. The growth of electric vehicles in Mexico necessitates the development of a robust charging infrastructure. Automotive garage equipment, such as charging station installation tools and diagnostics for EV charging systems, becomes essential for servicing and maintaining this infrastructure in Mexico. The increasing number of EV charging stations in Mexico requires maintenance and periodic servicing in Mexico. With the rise of electric vehicles, there is a growing need for training programs to educate technicians on EV maintenance and repair in Mexico. Hence, the factors mentioned above will drive the regional market growth.
The US market dominated the North America Others Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $430.9 million by 2030. The Canada market is experiencing a CAGR of 10.2% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 9.4% during (2023 - 2030).
Free Valuable Insights: The Automotive Garage Equipment Market is Predict to reach USD 29 Billion by 2030, at a CAGR of 7.2%
Based on Garage Type, the market is segmented into Independent Garages, and OEM Authorized Garages. Based on Equipment Type, the market is segmented into Wheel & Tire Equipment, Lifting & Hoisting Equipment, Diagnostic & Testing Equipment, Washing Equipment, Hand Tools & Power Tools, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Garage Type
By Equipment Type
By Country
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