Paving the Way for Progress: Garage Equipment Market Dynamics

The garage equipment market Size is estimated to witness a 4.22% CAGR during the forecast period 2023-2032.

Also, there have been a lot more new construction projects, both in the commercial and residential sectors, as a result of growing urbanisation and industrialisation. As a result, it is anticipated that the market will grow steadily and reach a market size of USD 8.99 billion by 2032.

Post-warranty, most car owners seek private garages due to their low labor expenses. Genuine aftermarket products have also expanded dramatically in independent garages in order to target premium car owners. Furthermore, due to rising repair and maintenance expenses at OEM authorized garages, car owners are opting to have their vehicles serviced at independent garages.

The COVID-19 epidemic has spread throughout the world. The WHO declared coronavirus a pandemic in March 2020, resulting in lockdowns in the majority of countries.

The acceptance of automated developed technologies to minimize human interaction in production and manufacturing facilities, on the other hand, is required to support the pervasive expansion of the market Garage equipment market Size all through the forecast period, which will end in 2027.

Growing sales of excavators and associated items are expected to play a significant role in income generation for the Garage equipment market Share. The items’ increased demand can be traced to their widespread use in the building of residential and business structures.

Garage equipment market Key Players

Robert Bosch GmbH (Germany)
Continental AG (Germany)
Istobal S.A. (US)
Aro Equipments Pvt. Ltd (India)
Guangzhou Jingjia Auto Equipment Co. Ltd (China)
Nussbaum Automotive Solutions Lp (US)
Boston Garage Equipment Ltd (UK)
Arex Test Systems B.V. (Netherlands)

Garage equipment market Industry News

Continental, a market leader, announced TPMS GO, an entry-level service tool for tire pressure monitoring systems, in February 2019. (TPMS).
In July 2019, John Bean entered the worldwide market with the introduction of the John Bean T2545T swing arm tire changer. Because of its compact size and ease of use, it would have been perfect for managing passenger cars and light trucks.
In May 2019, OMCN debuted a newly developed lift model 190/EV, specifically built for electric vehicles, on a global scale.

Garage equipment market Regional Classification

During the forecast period, which ends in 2027, the Asia Pacific region is predicted to dominate the worldwide Garage equipment market Size, led by Europe and North America. The automotive sector in North America is among the most advanced in the world.

The United States has a significant role to play in driving regional growth. The country’s automotive sector is focused on innovation, technologies, and the creation of high-performance, fuel-efficient vehicles.

Garage equipment market Segmentation

The great performance of market segments, followed by rising revenue, can be credited to the growth of the Garage equipment market Size. Furthermore, market segments are anticipated to match the growing wants of the target audience, assisting in the market’s expansion and growth as predicted. As a result, the worldwide Garage equipment market Size is segmented as follows:

Based on garage type