HOME Research Insight The Automotive Test Equipment Market has been a Rapid Increase in the Number of Technological Advancements

The Automotive Test Equipment Market has been a Rapid Increase in the Number of Technological Advancements

The global automotive test equipment market is estimated to be USD 442.9 Million in 2016, and is projected to reach USD 600.7 Million by 2021, growing at a CAGR of 6.29% from 2016 to 2021. Asia-Pacific is estimated to lead the market in 2016; China, Japan, and India are key contributors to the automotive test equipment market in the region.

There has been a rapid increase in the number of technological advancements in the automotive test equipment market. This can be primarily attributed to the increasingly stringent emission norms and safety standards imposed by governments in various countries. Several companies have developed application-based features that enable smartphone integration for vehicle testing. For instance, Actron, a company that provides repair and diagnostic equipment, has released an application named Torque Pro for mobile devices, which allows users to perform vehicle diagnostics using their mobile phones. This application works wirelessly by connecting to the OBD-II serial port using Bluetooth technology. Torque Pro is also used to monitor the performance of the vehicle.

The automotive test equipment market is dominated by global players such as Delphi Automotive PLC, Siemens AG, Robert Bosch GmbH, ABB Ltd., and Honeywell International Inc., and comprises numerous local players as well. As of 2016, the top five players account for over 60% of the market share. Robert Bosch GmbH is estimated to dominate the global automotive test equipment market.

Robert Bosch GmbH was founded in 1886. The company is headquartered in Stuttgart, Germany, and is one of the leading global suppliers of technology and services. It operates in four business sectors: mobility solutions, industrial technology, consumer goods, and energy & building technology. The company is conducting R&D to develop systems for automotive applications that comply with stringent safety norms. It is also focusing on expanding its global footprint; for instance, it invested USD 214.7 million in establishing an automotive R&D center in Vietnam in 2014. The new center focuses on computer-aided design (CAD) and simulation and testing of automotive technologies.

Siemens AG is a global leader in terms of electrical engineering and electronics. It was established in 1847, and is headquartered in Munich, Germany. The company offers various products and services for the automobile test equipment segment, including end-of-line testing equipment, end-of-line diagnostics, and development of test rigs. It aims to expand its global presence, and is focusing on developing new and innovative products. The company plans to expand its Grand Prairie facility in the U.S. by 25%. The expansion at Grand Prairie would include new circuit breaker manufacturing production lines and testing facilities.

Related Reports:

Automotive Test Equipment Market by Vehicle Type (Passenger Car, LCV, & HCV), Product Type, Application Type (Handheld Scan tool, Mobile Based scan tool, & PC/Laptop Based Scan Tool), & by Geography - Global Trends and Forecast to 2021

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