Shop Equipment Global Market Report 2024

Description

Shop equipment encompasses the tools, machinery, and apparatus used in workshops and retail stores to support business operations. The variety of equipment depends on the industry and specific tasks involved.

The main types of shop equipment include lifting equipment, body shop equipment, wheel and tire service equipment, vehicle diagnostic and testing equipment, and washing equipment. In an automotive setting, lifting equipment refers to devices designed to raise and support vehicles for maintenance and repair. This equipment is distributed through various channels, including direct and indirect sales, and is utilized for applications involving both passenger and commercial vehicles.

The shop equipment market research report is one of a series of new reports from The Business Research Company that provides shop equipment market statistics, including shop equipment industry global market size, regional shares, competitors with a shop equipment market share, detailed shop equipment market segments, market trends, and opportunities, and any further data you may need to thrive in the shop equipment industry. This shop equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The shop equipment market size has grown strongly in recent years. It will grow from $109.62 billion in 2023 to $119.79 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth during the historic period can be attributed to several factors such as expansion in manufacturing sectors, rapid urbanization and infrastructure projects, increased demand in the automotive industry driving the need for shop equipment, rising investments in industrial sectors, and heightened environmental awareness.

The shop equipment market size is expected to see strong growth in the next few years. It will grow to $172.44 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The projected growth during the forecast period can be attributed to several factors such as an increasing focus on sustainable practices, the adoption of eco-friendly manufacturing processes, growth in the construction sector, the rise of e-commerce and digital platforms, and the growing popularity of electric vehicles. Major trends expected to influence this growth include the adoption of Industry 4.0 technologies, expansion of additive manufacturing (3D printing), increased use of automation and robotics, integration of the Internet of Things (IoT), and innovations in smart equipment.

The increasing adoption of electric vehicles is projected to drive growth in the shop equipment market. Electric vehicles, powered primarily by electricity and utilizing one or more electric motors for propulsion, are gaining popularity due to rising environmental awareness, cost-efficiency, and supportive government policies. Shop equipment plays a crucial role in maintaining these vehicles safely and effectively, offering the essential tools and infrastructure for maintenance, repair, and charging. For example, in March 2023, the International Energy Agency, a France-based intergovernmental organization, reported that electric vehicle sales exceeded 10 million units in 2022. Additionally, 14% of all new cars sold in 2022 were electric, up from approximately 9% in 2021. This surge in electric vehicle popularity is expected to drive growth in the shop equipment market.

Key players in the shop equipment market are focusing on innovative solutions, such as mobile column lift adapters, to improve the versatility and efficiency of maintenance operations for electric and modern vehicles. Mobile column lift adapters are adjustable components that attach to mobile column lifts, allowing them to lift vehicles with varying configurations and lifting points. For instance, in August 2021, Forward Lift Company, a US-based manufacturer of automotive lifts, launched a new range of frame-engaging mobile column lift adapters designed to enhance the functionality of its mobile column lifts. These adapters enable technicians to lift and service a wider array of forklifts, including reach trucks and pallet trucks, thereby increasing productivity and reducing repair downtime.

In November 2023, Snap-on, a US-based manufacturer of tools and equipment, acquired Mountz Inc. for approximately $40 million. This acquisition supports Snap-on's strategy of expanding its product portfolio and strengthening its market position by incorporating specialized tools and technologies. Mountz Inc., a US-based company, specializes in high-precision torque tools and other shop equipment.

Major companies operating in the shop equipment market are Robert Bosch GmbH, Caterpillar Inc., Stanley Black & Decker, Atlas Copco AB, Textron Inc., Ingersoll Rand Ltd, Makita Corporation, Snap-on Incorporated, Husqvarna Group, Milwaukee Electric Tool Corporation, TTS Tooltechnic Systems AG & Co. KG, Matco Tools, Grizzly Industrial Inc., Klein Tools, JPW Industries Inc., Delta Power Equipment Corporation, Siemens AG, Baileigh Industrial Inc., Emerson Electric Co., Hitachi Koki Co Ltd.

North America was the largest region in the shop equipment market in 2023. The regions covered in the shop equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the shop equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The shop equipment market consists of the sale of retail shop equipment, workshop equipment, automotive shop equipment, and food service shop 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.

Shop 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 shop 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.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for shop equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The shop 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 market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

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.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Type: Lifting Equipment; Body Shop Equipment; Wheel And Tire Service Equipment; Vehicle Diagnostic And Testing Equipment; Washing Equipment
2) By Distribution Channel: Direct Sales; Indirect Sales
3) By Application: Passenger Vehicle; Commercial Vehicle
Companies Mentioned: Robert Bosch GmbH; Caterpillar Inc.; Stanley Black & Decker; Atlas Copco AB; Textron Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r20026

1. Executive Summary

2. Shop Equipment Market Characteristics

3. Shop Equipment Market Trends And Strategies

4. Shop Equipment Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Shop Equipment Market Size and Growth

5.1. Global Shop Equipment Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Shop Equipment Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Shop Equipment Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Shop Equipment Market Segmentation

6.1. Global Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Lifting Equipment
Body Shop Equipment
Wheel And Tire Service Equipment
Vehicle Diagnostic And Testing Equipment
Washing Equipment
6.2. Global Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Direct Sales
Indirect Sales
6.3. Global Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Passenger Vehicle
Commercial Vehicle

7. Shop Equipment Market Regional And Country Analysis

7.1. Global Shop Equipment Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Shop Equipment Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Shop Equipment Market

8.1. Asia-Pacific Shop Equipment Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Shop Equipment Market

9.1. China Shop Equipment Market Overview
9.2. China Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Shop Equipment Market

10.1. India Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Shop Equipment Market

11.1. Japan Shop Equipment Market Overview
11.2. Japan Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Shop Equipment Market

12.1. Australia Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Shop Equipment Market

13.1. Indonesia Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Shop Equipment Market

14.1. South Korea Shop Equipment Market Overview
14.2. South Korea Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Shop Equipment Market

15.1. Western Europe Shop Equipment Market Overview
15.2. Western Europe Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Shop Equipment Market

16.1. UK Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Shop Equipment Market

17.1. Germany Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Shop Equipment Market

18.1. France Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Shop Equipment Market

19.1. Italy Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Shop Equipment Market

20.1. Spain Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Shop Equipment Market

21.1. Eastern Europe Shop Equipment Market Overview
21.2. Eastern Europe Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Shop Equipment Market

22.1. Russia Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Shop Equipment Market

23.1. North America Shop Equipment Market Overview
23.2. North America Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Shop Equipment Market

24.1. USA Shop Equipment Market Overview
24.2. USA Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Shop Equipment Market

25.1. Canada Shop Equipment Market Overview
25.2. Canada Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Shop Equipment Market

26.1. South America Shop Equipment Market Overview
26.2. South America Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Shop Equipment Market

27.1. Brazil Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Shop Equipment Market

28.1. Middle East Shop Equipment Market Overview
28.2. Middle East Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Shop Equipment Market

29.1. Africa Shop Equipment Market Overview
29.2. Africa Shop Equipment Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Shop Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Shop Equipment Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Shop Equipment Market Competitive Landscape And Company Profiles

30.1. Shop Equipment Market Competitive Landscape
30.2. Shop Equipment Market Company Profiles
- 30.2.1. Robert Bosch GmbH
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Caterpillar Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Stanley Black & Decker
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Atlas Copco AB
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Textron Inc.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Shop Equipment Market Other Major And Innovative Companies

31.1. Ingersoll Rand Ltd
31.2. Makita Corporation
31.3. Snap-on Incorporated
31.4. Husqvarna Group
31.5. Milwaukee Electric Tool Corporation
31.6. TTS Tooltechnic Systems AG & Co. KG
31.7. Matco Tools
31.8. Grizzly Industrial Inc.
31.9. Klein Tools
31.10. JPW Industries Inc.
31.11. Delta Power Equipment Corporation
31.12. Siemens AG
31.13. Baileigh Industrial Inc.
31.14. Emerson Electric Co.
31.15. Hitachi Koki Co Ltd.

32. Global Shop Equipment Market Competitive Benchmarking

33. Global Shop Equipment Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Shop Equipment Market

35. Shop Equipment Market Future Outlook and Potential Analysis

35.1 Shop Equipment Market In 2028 - Countries Offering Most New Opportunities
35.2 Shop Equipment Market In 2028 - Segments Offering Most New Opportunities
35.3 Shop Equipment Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer