According to a new report, published by KBV research, The Global Automotive Garage Equipment Market size is expected to reach $29.0 billion by 2030, rising at a market growth of 7.2% CAGR during the forecast period.
Advanced diagnostic tools in the automotive garage equipment market enable technicians to identify and diagnose issues within vehicle systems accurately. This precision helps address problems more effectively, reducing the time required for troubleshooting and enhancing the overall quality of repairs. Workshop management systems and modular equipment design contribute to the optimization of workflow in automotive service centers. Efficient equipment layout, well-managed inventory, and streamlined administrative processes enhance operational efficiency.
The Independent Garages segment is generating highest revenue in the Global Automotive Garage Equipment Market by Garage Type in 2022; thereby, achieving a market value of $23.4 billion by 2030. Independent garages focus on aftermarket service and repairs, offering an alternative to dealership services. This drives the need for comprehensive garage equipment that supports a variety of maintenance and repair tasks, from routine services to complex diagnostics and repairs. Independent garages seek flexible equipment solutions that adapt to different tasks and vehicle types. Versatile garage equipment, such as multi-functional lifts, diagnostic scanners, and tire changers, becomes essential to meet the diverse needs of independent garages.
The Lifting & Hoisting Equipment segment is experiencing a CAGR of 6.6% during (2023 - 2030). Lifting & hoisting equipment are fundamental for conducting thorough vehicle inspections and maintenance. Technicians use lifts to elevate vehicles, allowing them to inspect the undercarriage, suspension, brakes, and other critical components. This ensures comprehensive maintenance and contributes to the overall safety and performance of vehicles. Lifting equipment is crucial for wheel alignment and balancing procedures. Lifts allow technicians to suspend the vehicle off the ground, enabling precise wheel adjustments and ensuring proper alignment. This enhances the safety and performance of the vehicle and contributes to a smoother driving experience.
Full Report: https://www.kbvresearch.com/automotive-garage-equipment-market/
The North America region dominated the Global Automotive Garage Equipment Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $9.7 billion by 2030. The Europe region is poised to grow at a CAGR of 7% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 7.7% during (2023 - 2030).
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