Automotive Test Equipment Market Growth and Industry Size Analysis with COVID-19 Impact and Latest Trends
Pune, Maharashtra, India, September 17 2020 (Wiredrelease) Absolute Reports Pvt. Ltd :The global automotive test equipment market is likely to derive growth from the escalating demand for precision enhancement in automotive across the world. According to a report by Fortune Business Insights, titled “ Automotive Test Equipment Market Size, Share and Global Trend by End-use (Mobile/Tablet, Based scanning tool, PC/Laptop Based scanning tool, Others), By Vehicle Type (Passenger Vehicle, Commercial Vehicle, Others), and Geography Forecast till 2026,” the market will grow considerably in the coming years due to the growing emphasis on user safety.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/automotive-test-equipment-market-100640
Automotive test equipment innovative devices used to perform quality checks on various automotive test devices. The ability of automotive test equipment to efficiently label the errors and quality ratings of the ‘devices under test’ (DUT) has created an increased adoption for these devices across the world. Automotive test equipment (ATE) is a computerized machine that can read several aspects of the DUT such as lubricant aeration, oil consumption, and fuel dilution. These factors have a direct impact on the operational efficacies of the DUTs. Fortune Business Insights has predicted that the uses of automotive test equipment in applications across diverse industries will fuel the demand for these products from users across the world.
Robert Bosch GmbH, Horiba, Honeywell, Siemens, Delphi, Autel, Sinfonia, Actia S.A., Advantest Corp. , Softing AG and Teradyne Inc., Denso, AVL, Sierra Instruments.
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Increasing Product Launches to Provide Growth Impetus
The increasing applications of automotive test equipment (ATE) have contributed to the growing demand for these products across the world. The high operating efficacies have provided several growth opportunities. The automotive test equipment industry has seen an onslaught of company startups as well as upgrades and collaborations by established companies. In an industry with high market competition, it is difficult to stand out with high sales revenue. With the aim of gaining competitive advantages, companies are focused on introducing innovative products. Fortune Business Insights states that product innovations will help the companies generate substantial automotive test equipment market revenue, subsequently aiding the growth of the global market. In 2016, Horiba announced the launch of a new product, aimed at bettering its portfolio of services in automotive testing equipment. The Service-One was a cost-effective and reliable concept that was incorporated in the design for real-time driving emission testing of vehicles. Fortune Business Insights has predicted that Horiba’s latest product will have a positive influence on the global automotive test equipment market growth. The report encompasses valuable information on several product launches, similar to the Service-One and gauges the impact of such product launches on the global market.
Key Industry Development:
11th September 2018: Bosch (Germany) launched a new product DCI 700 diesel bench with new testing system for injectors embedded in vehicles that has short testing time, ergonomic design and efficient workflow. 29th May 2018: Horiba (Japan), supplier of automotive test equipment, launched its new SERVICE-ONE cost-effective and reliable concept for emission control system designed for Real Driving Emission (RDE) testing of vehicles.
Increasing Automotive Production to Boost the Market in Asia Pacific
The incorporation of latest technologies by leading companies such as Horiba, Sinfonia, and Autel will boost induce growth of the market in this region. With the growing population, countries such as India, Japan, and China have emerged as the hub for automotive production across the Asia Pacific. This, in turn, has led to an increase in the growth of the automotive test equipment market in the Asia Pacific. Fortune Business Insights has predicted that recent advancements products and services made by the companies based in the Asia Pacific will contribute to an increase in the regional automotive test equipment market value. Among all regions, Fortune Business Insights has predicted that Asia Pacific will witness the highest growth due to the incorporation of smart emission measurement systems by majority of the regional market companies.
Key Market Driver-
Technological advancements in autonomous vehicle testing, Increasing electric vehicle production, Rising electronic architecture in vehicles
Key Market Restraint-
High initial cost of integration of test equipment, Lack of trained workforce
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