Automotive garage equipment consist of specialized machinery and tools that are used for repair, maintenance, and modification of vehicles. This equipment is essential to perform routine maintenance and servicing of vehicles to make them perform efficiently and improve their overall performance. Automotive garage equipment may include handheld tools, power tools or specialized machinery to carry out dedicated work in a vehicle. The automotive garage equipment market is driven by increase in automobile sales globally, increase in demand for vehicle restoration, modification, and upgradation, and increase in vehicle complexity and advancement in automotive garage equipment. Moreover, the volatility in prices of raw materials is hampering the growth of the market. However, development of connected garage equipment and rise in demand for electric vehicles (EVs) and hybrid vehicles are anticipated to create a lucrative growth opportunity for companies operating in the automotive garage equipment market.
Increase sales of privately owned cars, particularly in the developing countries of Asia-Pacific and Latin America is creating more demand for its maintenance and service. Furthermore, due to increase in government focus on promoting the use of electric vehicles, alternative fuel vehicles, and hybrid vehicle, sales of vehicles have further increased, and due to the high complexity of these vehicles, the demand for its maintenance and service has increased; thus, driving the demand for garage equipment.
Modern automobiles are becoming advanced in terms of functionality, design, and technology, which has increased the complexity of modern automobiles as they utilize more sensors and other computer-operated electronics and hardware. Due to strengthening government rules and regulations related to increase in vehicle safety, reducing emissions, and increase in fuel efficiency, modern vehicles are equipped with technologies such as ADAS, emergency braking, hybrid powertrains, autonomous driving, advanced infotainment, and others. As automobile manufacturers are integrating more features in an automobile, the vehicle is becoming more and more complex, thus creating more demand for automotive garage equipment.
Many automobile enthusiasts are willing to spend a huge sum of money on the restoration of older car models, mostly from the 70s, 80s, and 90s, such as the older model Cadillac, Buick Roadster, Mercedez Benz, and Mazda RX-7. Automobile enthusiasts and car collectors spend huge amount of money on restoring older-generation cars while incorporating advanced technology and improving their performance. Classic vintage cars also fetch high market value after restoration, thus becoming a valuable asset for the owner. Similarly, there is increasing inclination toward vehicle modifications, which include upgrading car components such as tires, exhaust systems, suspension, modified air intakes, spoilers, full body kits, paint works, and others. Thus, rise in inclination of consumers towards vehicle upgradation and visual enhancement of older generation cars has created increase in demand for automotive garage equipment as they are extensively used in restoration and modification projects.
However, Prices of raw materials such as iron, steel, special alloys, plastics, and other materials used in the production of automotive garage equipment are constantly fluctuating. Also, there are constraints on the quality and sourcing of these raw materials. Automotive garage equipment includes heavy machinery such as lifts, diagnostics tools, and others, which require steel and iron to manufacture. The pricing of these raw materials has a significant impact on the overall price of the component, thus hampering the overall growth of the automotive garage equipment market.
The automotive garage equipment market is segmented into component, garage type, and region. On the basis of component, the market is divided 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 market is segmented into OEM-authorized garages and independent garages. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Furthermore, the market is very competitive with a few big manufactures dominating the overall global market share To maintain their market positions, top companies operating in the market are prioritizing on innovation, product uniqueness, and collaboration with other industry players. The key companies profiled in the market research report are 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.
Increase sales of privately owned cars, particularly in the developing countries of Asia-Pacific and Latin America is creating more demand for its maintenance and service. Furthermore, due to increase in government focus on promoting the use of electric vehicles, alternative fuel vehicles, and hybrid vehicle, sales of vehicles have further increased, and due to the high complexity of these vehicles, the demand for its maintenance and service has increased; thus, driving the demand for garage equipment.
Modern automobiles are becoming advanced in terms of functionality, design, and technology, which has increased the complexity of modern automobiles as they utilize more sensors and other computer-operated electronics and hardware. Due to strengthening government rules and regulations related to increase in vehicle safety, reducing emissions, and increase in fuel efficiency, modern vehicles are equipped with technologies such as ADAS, emergency braking, hybrid powertrains, autonomous driving, advanced infotainment, and others. As automobile manufacturers are integrating more features in an automobile, the vehicle is becoming more and more complex, thus creating more demand for automotive garage equipment.
Many automobile enthusiasts are willing to spend a huge sum of money on the restoration of older car models, mostly from the 70s, 80s, and 90s, such as the older model Cadillac, Buick Roadster, Mercedez Benz, and Mazda RX-7. Automobile enthusiasts and car collectors spend huge amount of money on restoring older-generation cars while incorporating advanced technology and improving their performance. Classic vintage cars also fetch high market value after restoration, thus becoming a valuable asset for the owner. Similarly, there is increasing inclination toward vehicle modifications, which include upgrading car components such as tires, exhaust systems, suspension, modified air intakes, spoilers, full body kits, paint works, and others. Thus, rise in inclination of consumers towards vehicle upgradation and visual enhancement of older generation cars has created increase in demand for automotive garage equipment as they are extensively used in restoration and modification projects.
However, Prices of raw materials such as iron, steel, special alloys, plastics, and other materials used in the production of automotive garage equipment are constantly fluctuating. Also, there are constraints on the quality and sourcing of these raw materials. Automotive garage equipment includes heavy machinery such as lifts, diagnostics tools, and others, which require steel and iron to manufacture. The pricing of these raw materials has a significant impact on the overall price of the component, thus hampering the overall growth of the automotive garage equipment market.
The automotive garage equipment market is segmented into component, garage type, and region. On the basis of component, the market is divided 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 market is segmented into OEM-authorized garages and independent garages. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Furthermore, the market is very competitive with a few big manufactures dominating the overall global market share To maintain their market positions, top companies operating in the market are prioritizing on innovation, product uniqueness, and collaboration with other industry players. The key companies profiled in the market research report are 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.
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Key Market Segments
By Equipment Type
- Lifting and Hoisting Equipment
- Diagnostic and Testing Equipment
- Wheel and Tire Equipment
- Hand Tools and Power Tools
- Washing Equipment
- Others
By Garage Type
- OEM Authorized Garages
- Independent Garages
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Southeast Asia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- SK Tools LLC
- MAHA Maschinenbau Haldenwang GmbH & Co. KG
- Boston Garage Equipment
- Hofmann Megaplan GmbH
- ravaglioli.com
- Mac Tools
- Robert Bosch GmbH
- Snap-On Incorporated
- Hunter Engineering Company
- Continental AG
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AUTOMOTIVE GARAGE EQUIPMENT MARKET, BY EQUIPMENT TYPE
CHAPTER 5: AUTOMOTIVE GARAGE EQUIPMENT MARKET, BY GARAGE TYPE
CHAPTER 6: AUTOMOTIVE GARAGE EQUIPMENT MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- SK Tools LLC
- MAHA Maschinenbau Haldenwang GmbH & Co. KG
- Boston Garage Equipment
- Hofmann Megaplan GmbH
- ravaglioli.com
- Mac Tools
- Robert Bosch GmbH
- Snap-On Incorporated
- Hunter Engineering Company
- Continental AG
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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