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New York US, May 11, 2023 (GLOBE NEWSWIRE) — According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Automotive garage equipment Market Research Report Information by Garage Type, Region, Equipment Type, and Vehicle Type – Forecast Till 2030″, the global Automotive garage equipment market is predicted to bolter substantially during the review era from 2022 to 2030 at a substantial growth rate of around 4.22%. The reports further predict the market will acquire nearly USD 10.7 billion by the end of 2030. The documents show that the automotive garage equipment market was valued at nearly USD 6.1 billion in 2022.
Automotive Garage Equipment Market Overview:
Post-warranty, most car owners’ approach independent garages because of the inexpensive labor costs in these garages. Also, genuine after-market products have grown substantially in independent garages to attract premium car owners. Furthermore, given the rising repair and maintenance costs in the OEM-authorized garages, car owners are getting their cars serviced from independent garages. The global Automotive garage equipment industry has lately demonstrated immense development.
Competitive Analysis
The listing of the prominent leaders across the global market for Automotive garage equipment includes players such as:
- Arex Test Systems B.V. (Netherlands)
- Maha Maschinenbau Haldenwang GmbH & Co. (Germany)
- Boston Garage Equipment Ltd (U.K.)
- Snap-On Incorporated (U.S.)
- Gray Manufacturing Company Inc. (U.S.)
- Continental AG (Germany)
- Robert Bosch (Germany)
- Vehicle Service Group (U.S.)
- Among others.
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The primary parameter causing a surge in the performance of the market is the rapid increase in the number of new construction projects in both commercial and residential sectors. Moreover, the growing urbanization and industrialization across the globe are also projected to boost the automotive garage equipment market performance…
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