Garage Equipment Market worth $10.7 billion by 2027

1. MarketsandMarkets Presents Garage Equipment Market worth $10.7 billion by 2027 https://www.marketsandmarkets.com/Market-Reports/garage-equipment-market-27815176.html

2. The report "Garage Equipment Market by Type (OEM, Independent), Application (Body Shop, Diagnostic & Testing, Emission, Lifting, Wheel & Tire, Washing), Installation (Mobile, Fixed), Function (Mechanical, Electronic), Vehicle, and Region - Global Forecast to 2027" The global garage equipment market is projected to grow from USD 6.1 billion in 2019 to USD 10.7 billion by 2027, at a CAGR of 7.4%. The growth of the garage equipment market is driven by the rising number of on-road vehicles, sales of electric vehicles, installation of advanced features in vehicles, and high implementation of connectivity services.. Get the PDF Brochure For This Report: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=27815176 Browse 56 market data Tables and 46 Figures spread through 122 Pages and in-depth TOC on "Garage Equipment Market ” https://www.marketsandmarkets.com/PressReleases/garage-equipment.asp

3. Passenger car is expected to be the largest segment of the market The passenger car segment is expected to be the largest market during the forecast period. The adoption of sensors and utilization of vehicle data for assisted driving and predictive maintenance have created a broader scope for automotive workshops. More timely maintenance will increase the demand for advanced garage equipment in the future. Also, growing customer demand for safer and comfortable passenger vehicles has compelled OEMs to incorporate more in vehicle safety, advanced connectivity features, and smart infotainment systems. Such advanced electronics will require a periodic diagnosis for proper functioning, leading to demand advanced diagnostic tools in the future. OEM launched vehicles with essential safety features such as collision avoidance system, automotive night vision, anti-lock braking system, and adaptive cruise control to comply with the latest safety standards. The automakers are expected to incorporate such safety features in the base and mid variants of upcoming vehicles due to consumer demand for safer vehicles. Hence, the demand for various automotive garage equipment is expected to increase. Request Sample of the report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=27815176

4. Lifting equipment is expected to lead the automotive garage equipment market The lifting equipment is the most frequently used and must-have equipment for an automotive workshop. This equipment helps technicians in performing repairs and diagnostics easily and efficiently. Equipment manufacturers offer vehicle lifts with enormous configurations and customizations to best suit the garage demands. For instance, two posts, four-post, in-ground lifts, scissor lifts, low rise lifts are offered to be used for passenger vehicles. Additionally, mobile column lifts and parallelogram lifts are used for commercial vehicles. The global Garage Equipment Market is dominated by major players such as Arex Test Systems B.V. (Netherland), Gray Manufacturing Company Inc. (US), Snap-On Incorporated (US), Vehicle Service Group (US), Robert Bosch (Germany), Continental AG (Germany), MahaMaschinenbauHaldenwang GmbH & Co. (Germany), Boston Garage Equipment Ltd (UK) and many others Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=27815176

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