Automotive Electrical Testing Market: Global Industry Analysis And Forecast (2024-2030)

Global Automotive Electrical Testing Market size was valued at US$ 62.90 Mn. in 2023 and the total Automotive Electrical Testing revenue is expected to grow at 20.70% from 2024 to 2030, reaching nearly US$ 234.78 Mn.
Automotive Electrical Testing Market Overview:
Automobile testing equipment is used in the automotive industry to test, identify, and improve electrical circuits to establish the appropriate setup, adjustment, and maintenance of electrical systems and control panels. Multimeters, circuit testers, Amp clamps, and scanning instruments are examples of automotive electrical testing tools. Multimeters are the most often used vehicle electrical testing equipment, serving as ammeters, ohmmeters, and voltmeters. It detects alternating current, dc voltage, alternating voltage, and resistance in automobile electrical circuits. Temperature, frequency, capacitance, vacuum, and pressure are all measured using advanced multimeters.To know about the Research Methodology :- Request Free Sample Report

The market environment for electrical testing instruments is always changing due to technological advancements. Environmental circumstances also have an impact on this industry, since high heat and cold can have an unfavorable effect on the operation of electrical testing instruments.

Report Scope:

The report explores the Automotive Electrical Testing market's segments by Product, Vehicle Type, Application, and Region. Growth across segments helps in the analysis of niche pockets of growth and tactics for approaching the market, as well as determining primary application areas and differences in target markets. The regional section of the report includes market-impacting aspects and legislation changes in the market that affect present and future market trends. Bottom-Up approaches are used to estimate and analyze the market size.

The data provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. The report investigates the Automotive Electrical Testing market's drivers, limitations, prospects, and barriers. MMR report includes investor recommendations based on a thorough examination of the Automotive Electrical Testing market's contemporary competitive scenario. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2023.

The Key competitors in the market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included the research of the annual and financial reports of these key competitors; whereas, primary research included interviews, surveys, and opinions of industry leaders and industry experts such as experienced front-line staff, CEOs, and marketing executives.
Market Dynamics:
Rising vehicle production and growing awareness of vehicle testing have increased demand for the Automotive Electrical Testing market.

Vehicle electrification continues to rise each year with all indications pointing to this trend increasing in the future. The increasing use of hybrid and fully electric vehicles to meet "green energy" and e-mobility goals, the urge for the greater reliability that electronic components generally provide, and the need to reduce automotive recalls (which are primarily due to mechanical rather than electrical failures) are all factors contributing to this development. Due to this growth of Vehicles around the globe, the awareness about Vehicle safety and testing has increased. These are the major factor driving the market growth during the forecast period. Vehicle Testing provides automotive electrical and electronic component safety, maintains the life of the vehicles, Saving time & money as well.

Governments are increasingly focused on implementing strict regulations on the automobile industry.

The global automobile industry is governed by a variety of government rules concerning passenger safety as well as environmental considerations such as emission levels, fuel economy, and noise pollution. These regulations/standards have a direct impact on and affect the design of vehicle components. Strict government regulations require automakers to include safety measures like seatbelts, airbags, and crumple zones in their vehicles. Tariffs and other trade obstacles are imposed by major regulatory agencies to penalize and deter producers from violating pollution and safety standards, such as the ongoing use of faulty equipment. This drives automakers to create more fuel-efficient vehicles with reduced emissions while simultaneously adding safety measures.

Changing regulations/standards across regions restraining the market growth.

With the globalization of trades and enterprises, various local norms and standards are expected to create difficulties in product acceptability on a global scale. This leads to disputes between local and international norms, restricting the market growth. Variations in regulatory requirements among areas result in disparities in tax rates, incurring additional expenditures for businesses such as hiring employees to handle tax-related issues, etc. Automotive Testing organizations are subject to local laws and must follow the legislation and standards of the countries in which they operate, which may restrict their efficiency.
Automotive Electrical Testing Market Segment Analysis:
By Product, The chassis dynamometer held the largest revenue share of about 40% in 2023 and is expected to maintain its dominance at the end of the forecast period. This is attributed to low-cost production and an increase in the number of automobile manufacturing facilities in developing countries. It also helps to assess the overall functioning of a vehicle's drivetrain and is widely utilized for pollution testing and mileage accumulation. Engine dynamometers, wheel alignment testers, and vehicle emission test systems are other product areas in the automotive test equipment industry. A dynamometer is a machine that measures power, force, or torque. During normal emission testing cycles, the chassis dynamometer and engine dynamometer replicate chassis and engine road loads, respectively.

The vehicle emission test system segment is expected to grow significantly during the forecast period for Automotive Electrical Testing Market. This is due to growing awareness about automobile emissions, a demand for a lighter carbon impact, and tough regulatory regulations. In 2019, the wheel alignment tester had strong growth. It facilitates the adjustment of wheel angles per manufacturer requirements. These factors are driving the growth of the segment.

By Vehicle Type, The passenger car segment accounted for the highest market share of xx% in 2023 and is expected to maintain its dominance at the end of the forecast period. With the growing urban population and its transportation requirements, due to their minimal operating costs, electric vehicles are preferred over IC engine-powered vehicles, making them the preferred choice for end-users. Additionally, the growing concern in industrialized European and North American countries about rising environmental pollution caused by IC engine vehicle propulsion is expected to increase demand for electric passenger cars. Customers' increasing purchasing power, combined with rising demand for passenger automobiles in established and emerging markets, have all contributed to segment growth. The rising complexity of standards relevant to vehicle safety performance has driven demand for automotive testing equipment and hence, these factors driving the segment growth.

By Application, The handheld scan tool segment held the largest revenue share of xx% in 2023 and is expected to grow rapidly during the forecast period. Vacuum and air pressure testers, thermometers, gas analyzers, fuel pressure testers, battery testers, and emission analyzers are some examples of handheld scan devices. Scan tools are designed to interface with a vehicle's onboard diagnostic system to support the diagnostic procedure.

PC/laptop-based equipment also contributed a significant revenue share in 2023 and is expected to grow substantially during the forecast period. It is a hardware and software package that includes all of the necessary wires and software. These tools assess torque and horsepower, evaluate fuel efficiency, and may map and log sensor data. As a result, many technicians choose to collect and evaluate car component data. The mobile device-based scan tool category is expected to grow at a CAGR of xx%. This is due to these technologies' capacity to prevent potential errors, mobility, and ease of use.
Regional Insights:
The Asia Pacific region held the highest revenue share of the Automotive Electrical Testing Market of around xx% in 2023 and is expected to lead the market at the end of the forecast period followed by Europe and North America. The industrial market in the Asia Pacific is highly advanced and highly developed due to this Asia Pacific area has evolved into a manufacturing hub and is expected to be a major market. The huge population of nations such as China and India, which account for more than 38% of the globe's population, is a key component contributing to the region's growth.

Moreover, several beneficial government measures conducted in these areas to revive the car sector, which suffered the heat of COVID-19, are expected to boost the market growth. Additionally, growing urbanization and the development of smart cities would drive the growth of the market, accelerating the development of this industry. The region's automotive demand is being driven by increased spending by consumers. Moreover, due to low manufacturing costs and the availability of inexpensive labor, several OEMs have either established or worked with domestic car makers. The Asia Pacific is home to important providers of automotive test equipment, owing to continuous improvements in security mechanisms and technological advancements.

Europe, the luxury automobile manufacturing center, has enormous development potential as well. This region is also a major market for the Automotive Electrical Testing Market. Europe is expected to grow rapidly and dominate the market at the end of the forecast period, owing to rising demand for low-emission cars, which is forcing OEMs to rethink and create new solutions for powertrain, thermal, and exhaust systems. Germany has the largest market in Europe for automotive engineering services due to the presence of major automobile manufacturers such as Continental AG and Robert Bosch GmbH. In addition, the government's strict road safety standards and rising support for electrification in the automotive industry would drive market growth.

North America is expected to have the third-largest market share owing to rising EV demand. Additionally, the growing popularity of connected EVS is expected to promote the region's development throughout the forecast period. The market's rapid growth may also be ascribed to technologically advanced infrastructure and the presence of technical behemoths. The Middle East is expected to supply more resources than Latin America and Africa together. This is due to early adoption as well as government measures to stimulate the development of improved EV test equipment.

All these factors which eventually contribute to the growth of the market across the regions are further covered in the report.

The objective of the report is to present a comprehensive analysis of the Automotive Electrical Testing market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Automotive Electrical Testing market dynamics, and structure by analyzing the market segments and projecting the Automotive Electrical Testing market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Automotive Electrical Testing market make the report investor’s guide.
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Automotive Electrical Testing Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 62.90 Mn.


Forecast Period 2024 to 2030 CAGR:
20.7%
Market Size in 2030:
US $ 234.78 Mn.


 Segments Covered:
by Product
Chassis Dynamometer
Engine Dynamometer
Wheel Alignment Tester
Vehicle Emission Test System


by Vehicle Type
Passenger Vehicle
Commercial Vehicle


by Applications
Handheld Scan Tool
Mobile Device-Based Scan Tool
PC/Laptop-Based Scan Tool



Automotive Electrical Testing Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina and Rest of South America)
Automotive Electrical Testing Market Key Players are:
1. Tektronix
2. Fluke
3. Amprobe
4. Ametek
5. The Chain Enterprises Company
6. Sanwa Electric Corporation
7. Hong Kong Texas Co. Ltd.
8. DSA Systems, Inc.
9. AOS Technologies AG
10.Berndorf Band GmbH
11.Bosch
12.Siemens
13.Delphi Technologies
14.Continental
15.Honeywell
16.ABB
17.Softing
18.Horiba
19.SGS

FAQs:

1. Which is the potential market for Automotive Electrical Testing in terms of the region?
Ans. The Asia-Pacific region is the potential market for Automotive Electrical Testing in terms of the region.

2. What are the opportunities for new market entrants?
Ans. The key opportunity in the market is new initiatives from governments that provide funding for Automotive Electrical Testings.

3. What is expected to drive the growth of the Automotive Electrical Testing market in the forecast period?
Ans. Rising vehicle production and growing awareness of vehicle testing have increased demand for the Automotive Electrical Testing market.

4. What is the projected market size & growth rate of the Automotive Electrical Testing Market?
Ans. The Automotive Electrical Testing Market size was valued at USD 62.90 Million in 2023 and the total Automotive Electrical Testing revenue is expected to grow by 20.70% from 2024 to 2030, reaching nearly USD 234.78 Million.

5. What segments are covered in the Automotive Electrical Testing Market report?
Ans. The segments covered are Product, Vehicle Type, Application and, Region.