PUBLISHER: The Business Research Company | PRODUCT CODE: 1531968
PUBLISHER: The Business Research Company | PRODUCT CODE: 1531968
Garage equipment comprises tools, machinery, and devices used in automotive repair, maintenance, and service operations within a garage or workshop. This equipment is crucial for diagnosing, fixing, and maintaining vehicles, ensuring their safety and efficiency on the road. It enables mechanics to perform various tasks, from basic repairs to complex diagnostics and overhauls, efficiently and to a high standard.
The main types of garage equipment include body shop equipment, diagnostic and test equipment, emission equipment, lifting equipment, washing equipment, wheel and tire equipment, and others. Body shop equipment involves tools and machinery for repairing vehicle body damage, such as paint booths and dent repair tools. These tools are used across different types of garages, including OEM-authorized garages, independent garages, and franchise garages, with installations available in both mobile and fixed configurations. They operate using electronic and mechanical systems, catering to passenger and commercial vehicles alike.
The garage equipment market research report is one of a series of new reports from The Business Research Company that provides garage equipment market statistics, including the garage equipment industry global market size, regional shares, competitors with garage equipment market share, detailed garage equipment market segments, market trends, and opportunities, and any further data you may need to thrive in the garage equipment industry. These garage equipment market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The garage equipment market size has grown strongly in recent years. It will grow from $7.32 billion in 2023 to $7.96 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. During the historic period, growth can be attributed to several factors, the need for continuous training of technicians on new technologies, an expanding market for luxury and high-performance vehicles, changes in legislation affecting the automotive industry, standardization of vehicle parts and systems, and the increasing import and export of vehicles.
The garage equipment market size is expected to see strong growth in the next few years. It will grow to $11.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. In the forecast period, growth can be attributed to several factors, the influence of insurance policies on vehicle repairs, ongoing infrastructure development, changing consumer expectations and demand for faster service, the expansion of vehicle warranty services and their coverage, and partnerships with original equipment manufacturers (OEMs). Major trends during this period include the adoption of advanced driver assistance systems (ADAS), the integration of Internet of Things (IoT) in garage equipment, the adoption of telematics systems, advancements in 3D printing for producing parts, and the development of smart workshops with automated and connected tools.
The garage equipment market is set to experience growth due to the increasing popularity of electric vehicles. Electric vehicles are powered by electricity stored in batteries and are gaining popularity due to their reduced greenhouse gas emissions and decreased reliance on fossil fuels compared to traditional gasoline-powered cars. Garage equipment plays a crucial role in supporting electric vehicles by providing the tools and technology necessary for their unique maintenance and repair requirements. This specialized equipment enables mechanics to handle everything from routine maintenance to complex diagnostics and repairs, ensuring the smooth operation and longevity of electric vehicles. For example, the International Energy Agency reported that global sales of electric cars approached 14 million in 2023, marking a significant increase from 14% in 2022, driving the growth of the garage equipment market.
Key players in the garage equipment market are focusing on developing advanced products such as alignment scissor lifts to improve precision in wheel alignment, enhance safety, and boost efficiency in servicing both electric and conventional vehicles. Alignment scissor lifts are designed specifically for precise wheel alignment, featuring adjustable platforms, high stability, and integrated lighting for inspections. For instance, Snap-on, a US-based machinery manufacturing company, introduced the Sun SSL 6400 Alignment Scissor Lift 4T in July 2022. This lift, with a capacity of 4.8m and 4000kg, is ideal for small garages and tire centers. It offers configurable turntable positioning, an open-front design, quad electro-hydraulic rams, and LED illumination for precise wheel alignments. With a certified maximum lifting capacity of 4000 kg (8800 lbs) and a lifting range of 230 mm to 1900 mm (9 to 75 in), it is tailored for wheel alignment and suited for smaller garages and tire centers.
In March 2023, Alliance Automotive Group, a UK-based motor vehicle manufacturing company, acquired Direct Auto Parts Ltd. for an undisclosed amount. This acquisition is aimed at expanding market reach and consolidating operations, leveraging established customer bases, and enhancing regional presence for strategic growth. Direct Auto Parts Ltd. (DAP) is a US-based company specializing in manufacturing garage equipment, including tools, compressors, generators, heaters, job boxes, jump starters, and storage solutions.
Major companies operating in the garage equipment market are Continental AG, Snap-on Incorporated, John Bean, Hunter Engineering Company, BendPak Inc., Launch Tech Co. Ltd., Stertil BV, Gray Manufacturing, Rotary Lift, Hofmann Equipment, EAE Automotive Equipment Co. Ltd., Ravaglioli, Giuliano Industrial S.p.A., Boston Garage Equipment, Istobal, Nussbaum Automotive Lifts Inc., Oil Lube Systems Pvt Ltd., Werther International S.p.A., Forward Lift, Con Air Equipments Pvt. Ltd., MAHA India Automotive Testing Equipment Private Limited, Sarveshwari Engineers
North America was the largest region in the garage equipment market in 2023. The regions covered in the garage equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the garage equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The garage equipment market consists of sales of automotive lifts, workshop tools, air compressors, air tools, pressure washers, fluid transfer equipment, and analytical equipment. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Garage Equipment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on garage equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for garage equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The garage equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.