Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Automotive Test Equipment Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The latest comprehensive market research on the global automotive test equipment industry, detailing crucial market segments, progressive technologies, and future growth prospects, has been officially released and is now available. This benchmark report meticulously analyzes the burgeoning automotive test equipment market, which is integral to the vehicle manufacturing process and continued advancements in automotive technology.
The dossier offers an in-depth analysis of key product types including chassis dynamometers, engine dynamometers, vehicle emission test systems, and wheel alignment testers. These instrumentations serve a vital role in ensuring vehicles adhere to safety regulations and achieve the highest standards of performance and reliability.
The report highlights a significant uptick in market growth, with forecasts projecting an increase from $14.21 billion in 2023 to an estimated $19.5 billion by 2028, marking a robust compound annual growth rate (CAGR) of 6.6%. Factors driving this escalation are diverse, encompassing the growing complexity of automotive systems, increased focus on regulatory compliance, and rising safety concerns among consumers.
Within the automotive test equipment market, innovations such as electric and autonomous vehicles are notably reshaping the landscape. These sectors particularly demand advanced testing of environmental factors, cybersecurity, and software integration. The anticipated expansion of autonomous vehicle adoption, with market estimates reaching $1 trillion by 2030, heralds a marked rise in demand for specialized automotive test equipment.
The current wave of ascension in the passenger vehicle sector further cements the necessity for automotive test equipment. As production numbers escalate, the industry's need for stringent testing to comply with global safety standards is more paramount than ever.
In response to these market dynamics, strategic collaborations among industry leaders are fostering innovation and solidifying market dominance. Cutting-edge platforms facilitating the rigorous testing of technologies such as Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicle (AV) technologies, remain at the forefront of these partnerships.
Key players shaping the automotive test equipment arena are dedicated to technological strides, propelling the industry forward with sophisticated validation tools and automation solutions that promise greater precision and efficiency in vehicle testing.
The Asia-Pacific region emerges as the report's frontrunner in market size and growth potential, poised to continue its rapid expansion across the forecast period. The comprehensive research includes detailed country-specific insights, rounding out the global perspective with a granular analysis of regional trends and market movements.
A selection of companies mentioned in this report includes
- Robert Bosch GmbH
- Vector Informatik GmbH
- Asea Brown Boveri Ltd.
- Siemens AG
- Actia SA
- Continental AG
- Horiba Ltd.
- Softing AG
- Teradyne Inc.
- MTS Systems Corporation
- Denso Corporation
- Technischer Überwachungsverein SÜD
- PTM Electronics Inc.
- MAHA Maschinenbau Haldenwang GmbH & Co. KG
- DSA Daten- und Systemtechnik GmbH
- Millbrook Proving Ground Ltd.
- Sierra Instruments Inc.
- Snap-on Incorporated
- AVL List GmbH
- Delphi Technologies
- SGS SA
- Honeywell International Inc.
- SAKOR Technologies Inc.
- National Instruments Corporation
- Cosworth Ltd.
- Danaher Corporation
- MK Test Systems Ltd.
- Sun Electric Corporation
- Cincinnati Test Systems Inc.
- Dewesoft d. o. o
For more information about this report visit https://www.researchandmarkets.com/r/t4ftlz
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