Global Automotive Emission Test Equipment Market: Overview
The global automotive emission test equipment market is likely to grow at a healthy rate in the upcoming years. The growing concern over environment and measures to reduce the carbon footprint is expected to lead the automotive emission test equipment market to grow in the forecast period.
Transparency Market Research (TMR) report shares a brief on share, size, trends including drivers and restraints of the global automotive emission test equipment market.
Is something restraining your company’s growth in the Automotive Emission Test Equipment Market? Ask for the Report Brochure here
Global Automotive Emission Test Equipment Market: Notable Developments
The global automotive emission test equipment market has undergone several developments. Some of them are mentioned below.
- In March 2019, the engineers from Switzerland have developed cost effective and simple devices to measure the toxic particle filters. This will help to ban the toxic vehicles from continuing on road.
- In 2018, Ministry of Road Transport and Highways notified the extension of next stage of emission regulations for agricultural tractors, combined harvesters, and construction vehicles. These norms will be laid under the name Bharat Stage 1 with effect from 1st October 2020.
Some of the companies that are prominent players in the global automotive emission testing equipment market consist of TEXA S.p.A., SGS SA, TÜV Nord Group, Gemco Equipment Ltd, Opus Inspection, and AVL LIST GmbH.
Global Automotive Emission Test Equipment Market: Drivers and Restraints
Some factors that lead to growth in the automotive emission test equipment market are as follows:
Rising Awareness to Provide Impetus to Growth
The rising awareness about the increasing carbon foot print and level of pollution affecting the environment are paving way for resort to keep automotive emission at permissible levels. This is expected to lead the growth in the global automotive emission testing market.
Government across the globe has laid down stringent regulations on vehicles emitting hazardous gases. The vehicles such as heavy duty vehicles and passenger vehicles have been brought under the stringent regulations, aiding in the strengthening of the global automotive emission test equipment market in the forthcoming years.
Periodic testing and issuance of certificates by pollution control board are pushing the global automotive test equipment market to surge during the forecast period.
Stuck in a neck-to-neck competition with other brands? Request a Custom Report on competition on Automotive Emission Test Equipment Market here
Technological Advancements to Boost Market
The rising technological advancement such as compact and portable emission measuring devices is nudging the growth in global automotive emission test equipment market in the upcoming years.
Rising number of vehicles on road are expected to fuel the automotive emission test equipment market. Increasing number of authorized service and emission test centers are fuelling the growth in the global market.
The advent of electric vehicles may hinder the growth of the global automotive emission test equipment market over the forecast period.
Nonetheless, rising disposable income and increasing demand for passenger vehicles are expected to surge the growth potential in the global automotive emission test equipment market.
Global Automotive Emission Test Equipment Market: Geographical Analysis
Asia Pacific market is expected to be dominant during the forecast period. Lately, this region has emerged as a new hub for automotive manufacturing companies. This is foretold to be the major region for the automotive testing equipment. The growth in Asia Pacific can be attributed to rising disposable income, increasing demand for passenger vehicles. Further, lucrative offer for the customers, easy availability of loans, low production cost, cheap work force is paving the way for surge in the global automotive emission test equipment market.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.