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Automotive Test Equipment Market Drivers, restraint and Key Development:
1) Growth in adoption of autonomous vehicles and the need for proper R&D and testing for the capabilities of autonomous vehicles 2) Growing concerns regarding the environment and presence of strict regulations regarding the calculation of emissions from vehicles and automotive
High levels of costs associated with the application and implementation of advance testing equipment; this factor is expected to act as a restraint to the market growth
1)In August 2018, Horiba announced that they had agreed to acquire Fuelcon AG. This acquisition will help expand the geographical presence of Horiba and help in the expansion of the application portfolio to electric vehicles segments. 2) In April 2018, Millbrook Proving Ground announced that they had acquired Revolutionary Engineering, Inc. This acquisition will help in expanding the geographical areas that the company will service in the automotive testing capabilities.
Automotive Test Equipment Market Key Competitors: Continental AG; Softing AG; ACTIA Group; ABB; Delphi Technologies; Vector Informatik GmbH; Siemens; SGS SA; Robert Bosch GmbH; Horiba; Honeywell International Inc.; TÜV SÜD; PTM Electronics; DENSO CORPORATION; DSA Daten- und Systemtechnik GmbH; Millbrook Proving Ground; Sierra Instruments, Inc.; Intelligent Technology Corp.,Ltd.; MAHA Maschinenbau Haldenwang GmbH & Co. KG; CME; MTS Systems Corporation; SINFONIA TECHNOLOGY CO., LTD.; Racelogic and MOOG INC. are few of the major competitors present in the market.
Automotive Test Equipment Market Analysis: Global Automotive Test Equipment Market is expected to grow to a projected value of USD 2.95 billion by 2026, rising from its initial estimated value of USD 2.14 billion in 2018, registering a CAGR of 4.13% in the forecast period of 2019-2026. This rise in market value can be attributed to the overall growth of the automotive market that has been a result of increased demand for vehicles.
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Competitive Landscape: Global automotive test equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive test equipment market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Some of the Major Highlights of TOC covers: Global Automotive Test Equipment Market
Chapter 1: Methodology & Scope
Definition and forecast parameters
Methodology and forecast parameters
Chapter 2: Executive Summary
Chapter 3: Automotive Test Equipment Market Insights
Technological and innovation landscape
Chapter 4: Automotive Test Equipment Market, By Region
Chapter 5: Company Profile
Thanks for reading this article, you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.
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Reason to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Automotive Test Equipment Market
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- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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