Garage Equipment Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos

 

The automotive industry is experiencing an upsurge due to the continuously rising population and disposable incomes. The demand for garage equipment also increases owing to the increasing number of sales of automotive. Furthermore, due to the rising environmental concerns, governments are emphasizing the adoption of electric vehicles which in turn increases the need for the garage and advanced equipment. Additionally, the rising integration of advanced technology in the garage also catalyzes the market growth of garage equipment.

The Garage Equipment market is expected to grow at a steady rate of around 6% owing to the rising number of motorsports events and the rising number of vehicles. This is attributed to the surge in the production and sales of vehicles, increasing safety concerns amongst car consumers, and rising sales of used vehicles is propelling the market’s growth.int

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 According to UnivDatos Market Insights (UMI)’ research report “Global Garage Equipment Market”, the market is expected to witness robust growth during the forecast period (2022-2028). This is mainly due to the growing sports activities and rising sports franchises.

Based on the garage type, the market has been categorized into OEM authorized garages and independent garages. Among them, the OEM-authorized garages adhesive segment is expected to have significant growth in the market.  The rising demand for authorized and high-quality equipment is attributed to the segmental growth the OEM-authorized garages. Furthermore, the continuously improving technology of the vehicles and integration of the vehicle-specific equipment in the vehicle are also important reasons for the segmental growth.

Based on the application, the market has been categorized into body shop equipment, diagnostic & testing equipment, emission equipment, lifting equipment, washing equipment, wheel & tire equipment, and others. Among them, the emission equipment segment is expected to have significant growth in the market during the forecast period. The rising environmental concerns along with the increasing focus of governmental and non-governmental organizations attributed to the increasing segmental growth of the emission equipment.

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Based on the function type, the market has been categorized into electronic and mechanical. Among them, the electronic segment is expected to have significant growth in the market during the forecast period. The increasing number of electric vehicles and the increasing number of electronic safety & tracking equipment are responsible for the growth of electronics in the garage equipment market.

Asia Pacific to witness extensive growth

For a better understanding of the market adoption of the garage equipment industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The Asia Pacific witnessed the fastest growth during the forecast period. This is mainly due to the rising number of vehicles and the presence of emerging economies along with the increasing disposable income in the region.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Garage Equipment market are Adidas AG, Columbia Sportswear, Dick's Sporting Goods Inc., Fanatics Inc., G-III Apparel Group Ltd., Hanesbrands Inc., Nike Inc., Prada, Puma SE, and Sports Direct International Plc.

“Global Garage Equipment Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.    

Market Segmentation:

1.      By Garage Type (OEM authorized garages and independent garages)

2.      By Application (Body Shop Equipment, Diagnostic & Testing Equipment, Emission Equipment, Lifting Equipment, Washing Equipment, Wheel & Tire Equipment, and Others)

3.      By Function Type (Electronic and Mechanical)

4.      By Region (North America, Europe, Asia-Pacific, Rest of the World)

5.      By Company (Robert Bosch GmbH, Continental AG, Istobal S.A., Aro Equipments Pvt. Ltd., Guangzhou Jingjia Auto Equipment Co. Ltd., Nussbaum Automotive Solutions Lp, Boston Garage Equipment Ltd., Arex Test Systems B.V., Vehicle Service Group, Gray Manufacturing Company Inc.)

Key questions answered in the study:

1.      What are the current and future trends in the global garage equipment industry?

2.      How the industry has been evolving in terms of garage type, application, and function type?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global garage equipment industry?

5.      What is the customer orientation, purchase behavior, and expectations from the global suppliers across various region and countries?