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(Transportation-News.com, December 18, 2019 ) Global Automotive Test Equipment market is expected to grow at a CAGR of 5.1% during the forecast period 2019-2026.
Automotive Testing Market Overview
Automotive testing is the process of inspecting vehicles to make sure that;-
• They meet the required industry standards.
• Certifying that the manufactured components are suitable for the intended use.
• Testing is to ensure the effective functioning of all automotive components and systems.
• Automotive testing is performed for measuring engine wear, engine oil consumption, fuel dilution and evaporation and clogging of after-treatment systems.
• Some examples of automotive testing equipment used are engine dynamometer, vehicle emission test system, wheel alignment tester, chassis dynamometer, fatigue testing, impact testers, tire plunger testers, fogging testers, etc.
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Market Trends
• 20th Automotive Testing Expo, Europe had more than 400 exhibitors who were the biggest audience to date and occupied the highest floor space. More than 9,000 visitors visited the Expo across three full days of the event.
Market Growth Factors
• An increase in the growth of the automotive industry is projected to fuel the growth in automotive testing market size during the forecast period. The market benefits from rising in stringent safety norms about safety and fuel efficiency of vehicles for ensuring vehicle roadworthiness, safety, and emission standards.
• The increase in awareness in end-users regarding safety standards, quality, and operational excellence are enhancing the growth of this market.
• The key drivers for this market are the synchronization of standards and the rise in the demand for vehicles in developing countries. An increase in production volumes of vehicles globally is anticipated to spell growth for the market.
Market Key Company Profiles
• Some key players’ active and occupying considerable automotive testing market share are Robert Bosch GmbH, ABB Ltd., Honeywell International, ACTIA Group and Siemens AG among others.
Geographical Analysis
• Asia Pacific’s automotive testing market is projected to register a growing CAGR during the forecast period.
• Many automotive OEMs are planning to shift their manufacturing base to the Asia Pacific, as the region is considered to be a low-cost production destination.
• As a result, due to the increased presence of manufacturing plants in the Asia Pacific, the demand for the automotive testing market is anticipated to grow at a faster pace.
• North America & Europe are mature markets for automotive testing and is expected to show moderate growth during the forecast period.
• The OEMs in North America and Europe are focusing on efforts to improve the automotive testing equipment.
• Adding more strict emission norms regarding CO2, NOx is the factor contributing to the overall demand of the automotive testing market in North America.
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