What are the Historical Developments and Current Growth Metrics of the Garage Equipment Market?
The garage equipment market has seen considerable growth due to a variety of factors.
• The garage equipment market has seen strong growth in recent years. It is expected to grow from $7.96 billion in 2024 to $8.7 billion in 2025, at a compound annual growth rate (CAGR) of 9.3%.
The growth is attributed to the continuous need for technician training on new technologies, growth in the luxury and high-performance vehicle market, changes in legislation, vehicle parts and systems standardization, and increased vehicle imports and exports.
What Is The Projected Growth Of The Garage Equipment Template Market?
The garage equipment market is expected to maintain its strong growth trajectory in upcoming years.
• The garage equipment market is expected to reach $12.26 billion by 2029, growing at a CAGR of 9.0%.
Growth will be driven by the influence of insurance policies on vehicle repairs, infrastructure development, changing consumer expectations for faster service, the expansion of vehicle warranty services, and partnerships with original equipment manufacturers. Key trends include advanced driver assistance systems, IoT integration in garage equipment, the adoption of telematics systems, advances in 3D printing, and the development of smart workshops with automated tools.
What Are The Key Drivers Fueling Growth In The Garage Equipment Market?
The growing popularity of electric vehicles is expected to drive the growth of the garage equipment market. Electric vehicles, powered by batteries, are becoming more popular due to reduced greenhouse gas emissions and less dependence on fossil fuels compared to traditional vehicles. Specialized garage equipment is needed for maintaining and repairing EVs, ensuring their proper function and long lifespan. According to the International Energy Agency, global electric car sales reached nearly 14 million in 2023, marking a 14% rise from the previous year. This growing demand for EVs is driving the growth of the garage equipment market.
What Are The Principal Market Segments In The Global Garage Equipment Industry?
The garage equipment market covered in this report is segmented –
1) By Equipment Type: Body Shop Equipment, Diagnostic And Test Equipment, Emission Equipment, Lifting Equipment, Washing Equipment, Wheel And Tire Equipment, Other Equipment Types
2) By Garage Type: Original Equipment Manufacturer (OEM) Authorized Garage, Independent Garage, Franchise Garages
3) By Installation Type: Mobile, Fixed
4) By Function Type: Electronic, Mechanical
5) By Vehicle Type: Passenger Vehicles, Commercial Vehicles
Subsegments:
1) By Body Shop Equipment: Spray Booths, Frame Machines, Dent Repair Equipment, Paintless Dent Removal (Pdr) Tools
2) By Diagnostic And Test Equipment: Vehicle Diagnostics Scanners, Tire Pressure Monitoring System (Tpms) Tools, Emission Testing Systems, Battery Testers
3) By Emission Equipment: Exhaust Gas Analyzers, Particulate Matter (Pm) Testers, Nitrogen Oxide (Nox) Analyzers
4) By Lifting Equipment: Vehicle Lifts, Floor Jacks, Scissor Lifts, Wheel Dollies
5) By Washing Equipment: Car Wash Systems, High-pressure Washers, Vehicle Cleaning Equipment
6) By Wheel And Tire Equipment: Tire Changers, Wheel Balancers, Wheel Alignment Systems
7) By Other Equipment Types: Air Compressors, Battery Chargers, Workshop Tools
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How Are New Trends Impacting The Size Of The Garage Equipment Market?
Companies in the garage equipment market are advancing their product lines, such as alignment scissor lifts, to improve safety, precision in wheel alignments, and efficiency in servicing both electric and conventional vehicles. For example, in July 2022, Snap-on launched the Sun SSL 6400 Alignment Scissor Lift 4T, which offers precise wheel alignments with LED illumination, configurable turntables, and a 4000 kg lifting capacity, catering to smaller garages and tire centers.
Who Are the Key Players In The Garage Equipment Market?
Major companies operating in the garage equipment market are:
• Continental AG
• Snap-on Incorporated
• John Bean
• Hunter Engineering Company
• BendPak Inc.
• Launch Tech Co. Ltd.
• Stertil BV
• Gray Manufacturing
• Rotary Lift
• Hofmann Equipment
• EAE Automotive Equipment Co. Ltd.
• Ravaglioli
• Giuliano Industrial S.p.A.
• Boston Garage Equipment
• Istobal
• Nussbaum Automotive Lifts Inc.
• Oil Lube Systems Pvt Ltd.
• Werther International S.p.A.
• Forward Lift
• Con Air Equipments Pvt. Ltd.
• MAHA India Automotive Testing Equipment Private Limited
• Sarveshwari Engineers
What Are The Regional Insights Into The Garage Equipment Market?
North America was the largest region in the garage equipment market in 2023. The regions covered in the garage equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
