Global Automotive Test Equipment Market Expected Reach Us$ 675 Mn by 2023 – Credence Research

According to a new market report published by Credence Research Inc “Automotive Test Equipment Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2022,” the global Automotive Test Equipment Market is expected to grow at a CAGR of 6.25% between 2016 and 2023 to reach US$ 675 Mn by 2023.

Full Report is Available at http://www.credenceresearch.com/report/automotive-test-equipment-market

The market for automotive test equipment is expected to witness significant growth with increasing production of motor vehicles. In addition, introduction of stringent emission and vehicle repair and maintenance regulations is also expected to support the growth of automotive test equipment market particularly in developed regions. In emerging economies increasing vehicle fleet, expansion of automotive production facilities and rising number of independent vehicle services stations and workshops.automotive-test-equipment-market-by-type

The automotive test equipment market is segmented into engine dynamometer, chassis dynamometer, vehicle emission test system and wheel alignment tester. In 2015, chassis dynamometer accounted for the largest revenue share. This segment is expected to maintain its dominating position with increasing installation at vehicle manufacturing plants and testing facilities. The emission test equipment segment is predicted to witness fastest growth with introduction of stringent vehicle emission control regulations across the world.

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The report also classifies automotive test equipment into handheld scan tool, mobile device-based scan tool and PC/laptop-based scan tool. The handheld scan tool segment accounted for the largest market share in overall automotive test equipment market by application. Mobile-device based scan tool are gaining popularity in developed regions and is expected to witness fastest...