Automotive Garage Equipment Market Size

Automotive Garage Equipment Market Analysis

The Automotive Garage Equipment Market size is estimated at USD 8.10 billion in 2024, and is expected to reach USD 11.20 billion by 2029, growing at a CAGR of 4% during the forecast period (2024-2029).

The demand in the automotive garage equipment market is driven by the upgradation of existing repair shops and independent garages and increasing vehicle sales in emerging economies such as India and Brazil.

For example, according to the International Trade Council, Brazil anticipates a 60% surge in electric and hybrid car sales in 2024 based on a stellar performance in 2023, where sales experienced an impressive 91% growth.

Moreover, the market is anticipated to expand as OEMs start prioritizing the accumulation of data on enhancing vehicle performance, which will elevate the need for suitable automotive garage equipment.

In addition, as automakers are gravitating toward technical breakthroughs and the creation of fuel-efficient automobiles, there is likely to be an increase in the demand for automotive garage equipment. Automotive garage equipment manufacturers are experiencing growth in demand for commercial vehicle wheel aligners as extensive fleets of commercial vehicles are now showing greater interest in the advantages of wheel alignment.

• For instance, in October 2023, Totalkare, a key distributor of Hunter’s cutting-edge heavy-duty wheel alignment equipment, announced a partnership with Hunter Engineering Company, bringing a trio of products to the forefront of the commercial vehicle maintenance industry.

Asia-Pacific, followed by Europe and North America, is expected to witness notable growth over the forecast period. The surge in vehicle production and vehicle production across major countries in these regions and increasing safety concerns among car consumers are expected to drive the demand for automotive garage equipment.