Automotive testing tools are used for testing, detecting, and improving the electrical circuits in automotive to determine the proper set-up, adjustment, and maintenance of electrical systems and control panels. Automotive electrical testing tools include multimeters, circuit testers, Amp clamps, and scanning tools. Multimeters are the most widely used automotive electrical testing tools, which are used to perform the functions of ammeters, ohmmeters, and voltmeters. It measures alternating current, direct current, alternating voltage, direct voltage, and resistance in electrical circuits of automotives. Some advanced multimeters are also used to measure temperature, frequency, capacitance, vacuum, and pressure. Automotive circuit testers are used for identifying trace wires and cables without damaging the insulation. It determines the presence or absence of an electronic voltage. Test light, test lamp, and mains tester are some of the circuit testers used in automotives. The market environment for electrical testing tools changes frequently with innovations. This market is also affected by environmental conditions since extreme heat and cold can have adverse impact on the functioning of the electrical testing tools.
The automotive testing tools market is supported by the rise in vehicle production globally. The markets of Asia Pacific and Europe are dominant in the production of vehicles. With a highly developed manufacturing sector supported by advanced technologies, these developing nations produce high-end vehicles. Apart from supply of vehicles, the market also has sufficient demand for these vehicles owing to a population with high disposable income. High disposable income supported by improved standard of living and busier lifestyle patterns, fuel the demand for more vehicles. Economic development is also characterised by increase in trade within and between nations across the globe. All these factors lead to an increase in demand for transport to facilitate easier movements. Use of inexpensive testing tools, especially testing screwdrivers can cause accidents in case of a short circuit and high energy faults. High advanced equipment like digital multimeters are costly. Therefore, safety concerns related to the use of inexpensive mechanical testing tools and high cost of digital testing tools are the major restraining factors of this market.
The market for automotive electrical testing tools can be segmented by types of tools, vehicle types, and by application. By types of tools the products include battery testers, circuit testers, ignition testers, and multi-testers. By application, the market can be segmented on the basis of regular maintenance, inspection purpose, electrical engineering design, and quality control among others. By type of vehicles, the use of automotive electrical test tools can be segmented into two wheelers and passenger cars, which is further bifurcated into SUVs and others, commercial vehicles, and aircrafts.
The global market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and Latin America.Asia Pacific leads the market followed by Europe and North America. Asia Pacific is characterised by a highly advanced and technologically endowed manufacturing sector. Europe, the manufacturing hub of luxury vehicles also has huge growth potential. Both these regions are leading manufacturers of vehicles as well. In Asia Pacific, Japan, China, and other South East Asian nations leads the market. India is emerging and improving its manufacturing and automobile sector and is expected to show commendable growth over the forecast period.
Some of the leading players in this market are Tektronix (U.S.), Fluke (U.S.), Amprobe (U.S.), Ametek (U.S), The Chain Enterprises Company (Taiwan), Sanwa Electric Corporation (Japan), Hong Kong Texas Co. Ltd. (Hong Kong), DSA Systems, Inc. (Switzerland), AOS Technologies AG (Switzerland), and Berndorf Band GmbH (Austria), among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.