Automotive Garage Equipment Market to cross $13.5 Bn by 2032, Says Global Market Insights Inc.

The global automotive garage equipment market is predicted to surpass USD 13.5 billion by 2032, as per a research study by Global Market Insights Inc. This growth is driven by the increasing global vehicle population and the demand for regular vehicle maintenance and repair services. As of 2023, nearly 14 million new electric cars were registered worldwide, increasing the total number of electric vehicles on the roads to 40 million.

Advanced garage equipment, such as lifts, wheel alignment devices, and inspection equipment, play a crucial role in ensuring safe and efficient vehicle operation. The shift towards preventative maintenance, due to increasingly complex and sophisticated vehicles, requires high-end garage locking technology for diagnostics and repairs.

Rapid advancements in automotive technologies, including electric and hybrid vehicles, necessitate specialized garage equipment for servicing and repairs. As the automotive industry evolves, garage manufacturers are focusing on innovations to meet the specific needs of these new vehicle types.

Government regulations and standards regarding emissions and safety are becoming increasingly stringent, leading to a demand for advanced equipment for compliance testing and maintenance. The increasing number of automotive factories and manufacturing facilities, especially in developing regions, is also driving the growth of the automotive garage equipment market.

The body shop equipment segment may exhibit significant growth due to the rising incidence of vehicular accidents and the increasing demand for aesthetic vehicle repairs and customizations. The preferences of consumers are shifting towards maintaining the appeal and resale value of their vehicles. As a result, there is an increasing demand for advanced body shop equipment such as paint booths, dent pullers, and welding machines.

The OEM authorized garage segment is expected to register notable CAGR from 2024 to 2032. These facilities are required to meet stringent standards set by vehicle manufacturers and therefore make use of high-quality, specialized equipment.

The European automotive garage equipment market is expected to register a robust CAGR from 2024 to 2032. The stringent regulatory standards and increasing emphasis on vehicle safety and emissions control in European countries are driving the demand for advanced diagnostic and maintenance equipment in automotive garages. The rapid deployment of electric and hybrid vehicles in the region is necessitating specialized garage equipment for service and maintenance.

Key players in the automotive garage equipment industry include Arex Test Systems B.V., Vehicle Service Group, Aro Equipments Pvt. Ltd., Boston Garage Equipment Ltd., Robert Bosch GmbH, Continental AG, Gray Manufacturing Company Inc., Ravaglioli S.p.A., Istobal S.A., and LKQ Coatings Ltd. These companies are actively investing in R&D activities to meet specific needs and expanding their manufacturing capacities to cater to end-users.

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