Garage Equipment Market Report, Analysis, Opportunities by 2031
The Garage Equipment Market is expected to register a CAGR of 8.2% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Type (Lifting Equipment, Diagnostic and Testing Equipment, Emission Testing Equipment, Body Shop Equipment, Washing Equipment, Wheel and Tire Equipment, Others), Function (Mechanical, Electronic), Garage Type (OEM Authorized Garage, Independent Garage), Installation Type (Fixed, Mobile). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Garage Equipment Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Garage Equipment Market Segmentation
Type- Lifting Equipment
- Diagnostic and Testing Equipment
- Emission Testing Equipment
- Body Shop Equipment
- Washing Equipment
- Wheel and Tire Equipment
- Others
- Mechanical
- Electronic
- OEM Authorized Garage
- Independent Garage
- Fixed
- Mobile
- Fixed
- Mobile
Strategic Insights
Garage Equipment Market Growth Drivers- Growth of Automotive Industry: The global garage equipment market is highly dominated by the automotive industry. As the automotive industry grows, the demand for garage equipment increases linearly.
Technological Advancements: New improvements in garage equipment technology, especially in diagnostic and testing tools, are growing the market significantly. It helps in vehicle maintenance to become efficient and accurate, hence encouraging garages and service centers to adopt them more frequently.
- Evolution of Electric Vehicles: The evolving demand for EVs would attract the electric vehicle market towards such equipment used in garages, as the consumers' demand for EVs will likewise increase the need for specialized equipment to service and maintain them, which is acting as a driver for the market.Development of OEM Authorized Garages: The number of OEM authorized garages is increasing. Such garages employ high-end equipment that are expected to look upon the industry standards for obtaining certification from manufacturers.
- Focus on Sustainability: Growing emphasis on sustainability has become a common trend in the garage equipment market. Hence, sustainable equipment and sustainable practices which reduce waste and energy consumption are on the gains toward reducing consumption of energy and waste globally.Increasing Number of Companies: The growing number of garage equipment and service provider companies are growing and which is anticipated have a positive impact on the overall market scenario.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Garage Equipment Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Garage Equipment Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The Garage Equipment Market is estimated to witness a CAGR of 8.2% from 2023 to 2031
The major factors driving the Garage Equipment Market is Growth of Automotive Industry and Technological Advancements
Focus on Sustainability and Number of Companies is the key future trend of the Garage Equipment Market
The leading players operating in the Garage Equipment Market include Automotive Equipment International, CORGHI, Hennesy Industries, HIGHVELD GARAGE EQUIPMENT, Hunter Engineering Company, LINCOLN ELECTRIC HOLDINGS, Maha Maschinenbau Haldenwang Gmbh and Co, Manatec Electronics Private Ltd., Ravaglioli, Vehicle Service Group
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Garage Equipment Market - By Type
1.3.2 Garage Equipment Market - By Function
1.3.3 Garage Equipment Market - By Garage Type
1.3.4 Garage Equipment Market - By Installation Type
1.3.5 Garage Equipment Market - By Vehicle Type
1.3.6 Garage Equipment Market - By Region
1.3.6.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. GARAGE EQUIPMENT MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. GARAGE EQUIPMENT MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. GARAGE EQUIPMENT MARKET - GLOBAL MARKET ANALYSIS
6.1. GARAGE EQUIPMENT - GLOBAL MARKET OVERVIEW
6.2. GARAGE EQUIPMENT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. GARAGE EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. LIFTING EQUIPMENT
7.3.1. Overview
7.3.2. Lifting Equipment Market Forecast and Analysis
7.4. DIAGNOSTIC AND TESTING EQUIPMENT
7.4.1. Overview
7.4.2. Diagnostic and Testing Equipment Market Forecast and Analysis
7.5. EMISSION EQUIPMENT
7.5.1. Overview
7.5.2. Emission Equipment Market Forecast and Analysis
7.6. BODY SHOP EQUIPMENT
7.6.1. Overview
7.6.2. Body Shop Equipment Market Forecast and Analysis
7.7. WASHING EQUIPMENT
7.7.1. Overview
7.7.2. Washing Equipment Market Forecast and Analysis
7.8. WHEEL AND TIRE EQUIPMENT
7.8.1. Overview
7.8.2. Wheel and Tire Equipment Market Forecast and Analysis
7.9. OTHERS
7.9.1. Overview
7.9.2. Others Market Forecast and Analysis
8. GARAGE EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - FUNCTION
8.1. OVERVIEW
8.2. FUNCTION MARKET FORECASTS AND ANALYSIS
8.3. MECHANICAL
8.3.1. Overview
8.3.2. Mechanical Market Forecast and Analysis
8.4. ELECTRONIC
8.4.1. Overview
8.4.2. Electronic Market Forecast and Analysis
9. GARAGE EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - GARAGE TYPE
9.1. OVERVIEW
9.2. GARAGE TYPE MARKET FORECASTS AND ANALYSIS
9.3. OEM AUTHORIZED GARAGE
9.3.1. Overview
9.3.2. OEM Authorized Garage Market Forecast and Analysis
9.4. INDEPENDENT GARAGE
9.4.1. Overview
9.4.2. Independent Garage Market Forecast and Analysis
10. GARAGE EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - INSTALLATION TYPE
10.1. OVERVIEW
10.2. INSTALLATION TYPE MARKET FORECASTS AND ANALYSIS
10.3. FIXED
10.3.1. Overview
10.3.2. Fixed Market Forecast and Analysis
10.4. MOBILE
10.4.1. Overview
10.4.2. Mobile Market Forecast and Analysis
11. GARAGE EQUIPMENT MARKET - REVENUE AND FORECASTS TO 2028 - VEHICLE TYPE
11.1. OVERVIEW
11.2. VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
11.3. PASSENGER CARS
11.3.1. Overview
11.3.2. Passenger Cars Market Forecast and Analysis
11.4. COMMERCIAL VEHICLES
11.4.1. Overview
11.4.2. Commercial Vehicles Market Forecast and Analysis
12. GARAGE EQUIPMENT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
12.1. NORTH AMERICA
12.1.1 North America Garage Equipment Market Overview
12.1.2 North America Garage Equipment Market Forecasts and Analysis
12.1.3 North America Garage Equipment Market Forecasts and Analysis - By Type
12.1.4 North America Garage Equipment Market Forecasts and Analysis - By Function
12.1.5 North America Garage Equipment Market Forecasts and Analysis - By Garage Type
12.1.6 North America Garage Equipment Market Forecasts and Analysis - By Installation Type
12.1.7 North America Garage Equipment Market Forecasts and Analysis - By Vehicle Type
12.1.8 North America Garage Equipment Market Forecasts and Analysis - By Countries
12.1.8.1 United States Garage Equipment Market
12.1.8.1.1 United States Garage Equipment Market by Type
12.1.8.1.2 United States Garage Equipment Market by Function
12.1.8.1.3 United States Garage Equipment Market by Garage Type
12.1.8.1.4 United States Garage Equipment Market by Installation Type
12.1.8.1.5 United States Garage Equipment Market by Vehicle Type
12.1.8.2 Canada Garage Equipment Market
12.1.8.2.1 Canada Garage Equipment Market by Type
12.1.8.2.2 Canada Garage Equipment Market by Function
12.1.8.2.3 Canada Garage Equipment Market by Garage Type
12.1.8.2.4 Canada Garage Equipment Market by Installation Type
12.1.8.2.5 Canada Garage Equipment Market by Vehicle Type
12.1.8.3 Mexico Garage Equipment Market
12.1.8.3.1 Mexico Garage Equipment Market by Type
12.1.8.3.2 Mexico Garage Equipment Market by Function
12.1.8.3.3 Mexico Garage Equipment Market by Garage Type
12.1.8.3.4 Mexico Garage Equipment Market by Installation Type
12.1.8.3.5 Mexico Garage Equipment Market by Vehicle Type
12.2. EUROPE
12.2.1 Europe Garage Equipment Market Overview
12.2.2 Europe Garage Equipment Market Forecasts and Analysis
12.2.3 Europe Garage Equipment Market Forecasts and Analysis - By Type
12.2.4 Europe Garage Equipment Market Forecasts and Analysis - By Function
12.2.5 Europe Garage Equipment Market Forecasts and Analysis - By Garage Type
12.2.6 Europe Garage Equipment Market Forecasts and Analysis - By Installation Type
12.2.7 Europe Garage Equipment Market Forecasts and Analysis - By Vehicle Type
12.2.8 Europe Garage Equipment Market Forecasts and Analysis - By Countries
12.2.8.1 Germany Garage Equipment Market
12.2.8.1.1 Germany Garage Equipment Market by Type
12.2.8.1.2 Germany Garage Equipment Market by Function
12.2.8.1.3 Germany Garage Equipment Market by Garage Type
12.2.8.1.4 Germany Garage Equipment Market by Installation Type
12.2.8.1.5 Germany Garage Equipment Market by Vehicle Type
12.2.8.2 France Garage Equipment Market
12.2.8.2.1 France Garage Equipment Market by Type
12.2.8.2.2 France Garage Equipment Market by Function
12.2.8.2.3 France Garage Equipment Market by Garage Type
12.2.8.2.4 France Garage Equipment Market by Installation Type
12.2.8.2.5 France Garage Equipment Market by Vehicle Type
12.2.8.3 Italy Garage Equipment Market
12.2.8.3.1 Italy Garage Equipment Market by Type
12.2.8.3.2 Italy Garage Equipment Market by Function
12.2.8.3.3 Italy Garage Equipment Market by Garage Type
12.2.8.3.4 Italy Garage Equipment Market by Installation Type
12.2.8.3.5 Italy Garage Equipment Market by Vehicle Type
12.2.8.4 United Kingdom Garage Equipment Market
12.2.8.4.1 United Kingdom Garage Equipment Market by Type
12.2.8.4.2 United Kingdom Garage Equipment Market by Function
12.2.8.4.3 United Kingdom Garage Equipment Market by Garage Type
12.2.8.4.4 United Kingdom Garage Equipment Market by Installation Type
12.2.8.4.5 United Kingdom Garage Equipment Market by Vehicle Type
12.2.8.5 Russia Garage Equipment Market
12.2.8.5.1 Russia Garage Equipment Market by Type
12.2.8.5.2 Russia Garage Equipment Market by Function
12.2.8.5.3 Russia Garage Equipment Market by Garage Type
12.2.8.5.4 Russia Garage Equipment Market by Installation Type
12.2.8.5.5 Russia Garage Equipment Market by Vehicle Type
12.2.8.6 Rest of Europe Garage Equipment Market
12.2.8.6.1 Rest of Europe Garage Equipment Market by Type
12.2.8.6.2 Rest of Europe Garage Equipment Market by Function
12.2.8.6.3 Rest of Europe Garage Equipment Market by Garage Type
12.2.8.6.4 Rest of Europe Garage Equipment Market by Installation Type
12.2.8.6.5 Rest of Europe Garage Equipment Market by Vehicle Type
12.3. ASIA-PACIFIC
12.3.1 Asia-Pacific Garage Equipment Market Overview
12.3.2 Asia-Pacific Garage Equipment Market Forecasts and Analysis
12.3.3 Asia-Pacific Garage Equipment Market Forecasts and Analysis - By Type
12.3.4 Asia-Pacific Garage Equipment Market Forecasts and Analysis - By Function
12.3.5 Asia-Pacific Garage Equipment Market Forecasts and Analysis - By Garage Type
12.3.6 Asia-Pacific Garage Equipment Market Forecasts and Analysis - By Installation Type
12.3.7 Asia-Pacific Garage Equipment Market Forecasts and Analysis - By Vehicle Type
12.3.8 Asia-Pacific Garage Equipment Market Forecasts and Analysis - By Countries
12.3.8.1 Australia Garage Equipment Market
12.3.8.1.1 Australia Garage Equipment Market by Type
12.3.8.1.2 Australia Garage Equipment Market by Function
12.3.8.1.3 Australia Garage Equipment Market by Garage Type
12.3.8.1.4 Australia Garage Equipment Market by Installation Type
12.3.8.1.5 Australia Garage Equipment Market by Vehicle Type
12.3.8.2 China Garage Equipment Market
12.3.8.2.1 China Garage Equipment Market by Type
12.3.8.2.2 China Garage Equipment Market by Function
12.3.8.2.3 China Garage Equipment Market by Garage Type
12.3.8.2.4 China Garage Equipment Market by Installation Type
12.3.8.2.5 China Garage Equipment Market by Vehicle Type
12.3.8.3 India Garage Equipment Market
12.3.8.3.1 India Garage Equipment Market by Type
12.3.8.3.2 India Garage Equipment Market by Function
12.3.8.3.3 India Garage Equipment Market by Garage Type
12.3.8.3.4 India Garage Equipment Market by Installation Type
12.3.8.3.5 India Garage Equipment Market by Vehicle Type
12.3.8.4 Japan Garage Equipment Market
12.3.8.4.1 Japan Garage Equipment Market by Type
12.3.8.4.2 Japan Garage Equipment Market by Function
12.3.8.4.3 Japan Garage Equipment Market by Garage Type
12.3.8.4.4 Japan Garage Equipment Market by Installation Type
12.3.8.4.5 Japan Garage Equipment Market by Vehicle Type
12.3.8.5 South Korea Garage Equipment Market
12.3.8.5.1 South Korea Garage Equipment Market by Type
12.3.8.5.2 South Korea Garage Equipment Market by Function
12.3.8.5.3 South Korea Garage Equipment Market by Garage Type
12.3.8.5.4 South Korea Garage Equipment Market by Installation Type
12.3.8.5.5 South Korea Garage Equipment Market by Vehicle Type
12.3.8.6 Rest of Asia-Pacific Garage Equipment Market
12.3.8.6.1 Rest of Asia-Pacific Garage Equipment Market by Type
12.3.8.6.2 Rest of Asia-Pacific Garage Equipment Market by Function
12.3.8.6.3 Rest of Asia-Pacific Garage Equipment Market by Garage Type
12.3.8.6.4 Rest of Asia-Pacific Garage Equipment Market by Installation Type
12.3.8.6.5 Rest of Asia-Pacific Garage Equipment Market by Vehicle Type
12.4. MIDDLE EAST AND AFRICA
12.4.1 Middle East and Africa Garage Equipment Market Overview
12.4.2 Middle East and Africa Garage Equipment Market Forecasts and Analysis
12.4.3 Middle East and Africa Garage Equipment Market Forecasts and Analysis - By Type
12.4.4 Middle East and Africa Garage Equipment Market Forecasts and Analysis - By Function
12.4.5 Middle East and Africa Garage Equipment Market Forecasts and Analysis - By Garage Type
12.4.6 Middle East and Africa Garage Equipment Market Forecasts and Analysis - By Installation Type
12.4.7 Middle East and Africa Garage Equipment Market Forecasts and Analysis - By Vehicle Type
12.4.8 Middle East and Africa Garage Equipment Market Forecasts and Analysis - By Countries
12.4.8.1 South Africa Garage Equipment Market
12.4.8.1.1 South Africa Garage Equipment Market by Type
12.4.8.1.2 South Africa Garage Equipment Market by Function
12.4.8.1.3 South Africa Garage Equipment Market by Garage Type
12.4.8.1.4 South Africa Garage Equipment Market by Installation Type
12.4.8.1.5 South Africa Garage Equipment Market by Vehicle Type
12.4.8.2 Saudi Arabia Garage Equipment Market
12.4.8.2.1 Saudi Arabia Garage Equipment Market by Type
12.4.8.2.2 Saudi Arabia Garage Equipment Market by Function
12.4.8.2.3 Saudi Arabia Garage Equipment Market by Garage Type
12.4.8.2.4 Saudi Arabia Garage Equipment Market by Installation Type
12.4.8.2.5 Saudi Arabia Garage Equipment Market by Vehicle Type
12.4.8.3 U.A.E Garage Equipment Market
12.4.8.3.1 U.A.E Garage Equipment Market by Type
12.4.8.3.2 U.A.E Garage Equipment Market by Function
12.4.8.3.3 U.A.E Garage Equipment Market by Garage Type
12.4.8.3.4 U.A.E Garage Equipment Market by Installation Type
12.4.8.3.5 U.A.E Garage Equipment Market by Vehicle Type
12.4.8.4 Rest of Middle East and Africa Garage Equipment Market
12.4.8.4.1 Rest of Middle East and Africa Garage Equipment Market by Type
12.4.8.4.2 Rest of Middle East and Africa Garage Equipment Market by Function
12.4.8.4.3 Rest of Middle East and Africa Garage Equipment Market by Garage Type
12.4.8.4.4 Rest of Middle East and Africa Garage Equipment Market by Installation Type
12.4.8.4.5 Rest of Middle East and Africa Garage Equipment Market by Vehicle Type
12.5. SOUTH AND CENTRAL AMERICA
12.5.1 South and Central America Garage Equipment Market Overview
12.5.2 South and Central America Garage Equipment Market Forecasts and Analysis
12.5.3 South and Central America Garage Equipment Market Forecasts and Analysis - By Type
12.5.4 South and Central America Garage Equipment Market Forecasts and Analysis - By Function
12.5.5 South and Central America Garage Equipment Market Forecasts and Analysis - By Garage Type
12.5.6 South and Central America Garage Equipment Market Forecasts and Analysis - By Installation Type
12.5.7 South and Central America Garage Equipment Market Forecasts and Analysis - By Vehicle Type
12.5.8 South and Central America Garage Equipment Market Forecasts and Analysis - By Countries
12.5.8.1 Brazil Garage Equipment Market
12.5.8.1.1 Brazil Garage Equipment Market by Type
12.5.8.1.2 Brazil Garage Equipment Market by Function
12.5.8.1.3 Brazil Garage Equipment Market by Garage Type
12.5.8.1.4 Brazil Garage Equipment Market by Installation Type
12.5.8.1.5 Brazil Garage Equipment Market by Vehicle Type
12.5.8.2 Argentina Garage Equipment Market
12.5.8.2.1 Argentina Garage Equipment Market by Type
12.5.8.2.2 Argentina Garage Equipment Market by Function
12.5.8.2.3 Argentina Garage Equipment Market by Garage Type
12.5.8.2.4 Argentina Garage Equipment Market by Installation Type
12.5.8.2.5 Argentina Garage Equipment Market by Vehicle Type
12.5.8.3 Rest of South and Central America Garage Equipment Market
12.5.8.3.1 Rest of South and Central America Garage Equipment Market by Type
12.5.8.3.2 Rest of South and Central America Garage Equipment Market by Function
12.5.8.3.3 Rest of South and Central America Garage Equipment Market by Garage Type
12.5.8.3.4 Rest of South and Central America Garage Equipment Market by Installation Type
12.5.8.3.5 Rest of South and Central America Garage Equipment Market by Vehicle Type
13. INDUSTRY LANDSCAPE
13.1. MERGERS AND ACQUISITIONS
13.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
13.3. NEW PRODUCT LAUNCHES
13.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
14. GARAGE EQUIPMENT MARKET, KEY COMPANY PROFILES
14.1. AREX TEST SYSTEMS BV
14.1.1. Key Facts
14.1.2. Business Description
14.1.3. Products and Services
14.1.4. Financial Overview
14.1.5. SWOT Analysis
14.1.6. Key Developments
14.2. ARO EQUIPMENTS PVT. LTD
14.2.1. Key Facts
14.2.2. Business Description
14.2.3. Products and Services
14.2.4. Financial Overview
14.2.5. SWOT Analysis
14.2.6. Key Developments
14.3. BOSTON GARAGE EQUIPMENT LTD
14.3.1. Key Facts
14.3.2. Business Description
14.3.3. Products and Services
14.3.4. Financial Overview
14.3.5. SWOT Analysis
14.3.6. Key Developments
14.4. CEMB S.P.A.
14.4.1. Key Facts
14.4.2. Business Description
14.4.3. Products and Services
14.4.4. Financial Overview
14.4.5. SWOT Analysis
14.4.6. Key Developments
14.5. CONTINENTAL AG
14.5.1. Key Facts
14.5.2. Business Description
14.5.3. Products and Services
14.5.4. Financial Overview
14.5.5. SWOT Analysis
14.5.6. Key Developments
14.6. DOVER CORPORATION
14.6.1. Key Facts
14.6.2. Business Description
14.6.3. Products and Services
14.6.4. Financial Overview
14.6.5. SWOT Analysis
14.6.6. Key Developments
14.7. FORTIVE CORPORATION
14.7.1. Key Facts
14.7.2. Business Description
14.7.3. Products and Services
14.7.4. Financial Overview
14.7.5. SWOT Analysis
14.7.6. Key Developments
14.8. GRAY MANUFACTURING
14.8.1. Key Facts
14.8.2. Business Description
14.8.3. Products and Services
14.8.4. Financial Overview
14.8.5. SWOT Analysis
14.8.6. Key Developments
14.9. ROBERT BOSCH GMBH
14.9.1. Key Facts
14.9.2. Business Description
14.9.3. Products and Services
14.9.4. Financial Overview
14.9.5. SWOT Analysis
14.9.6. Key Developments
14.10. SNAP-ON INCORPORATED
14.10.1. Key Facts
14.10.2. Business Description
14.10.3. Products and Services
14.10.4. Financial Overview
14.10.5. SWOT Analysis
14.10.6. Key Developments
15. APPENDIX
15.1. ABOUT THE INSIGHT PARTNERS
15.2. GLOSSARY OF TERMS
1. Arex Test Systems BV
2. Aro Equipments Pvt. Ltd
3. Boston Garage Equipment Ltd
4. CEMB S.p.A.
5. Continental AG
6. Dover Corporation
7. Fortive Corporation
8. Gray Manufacturing
9. Robert Bosch GmbH
10. Snap-on Incorporated
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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