Automotive test equipment is primarily used to execute quality control tests in order to ensure effective vehicle performance. Automotive test equipment are utilized to test the impact on handbrake tension, interaction between fuel and lubricant, and engine oil consumption. Automotive test equipment help maintain the efficiency of the overall performance of the vehicle, and thus play a vital role in enhancing the overall life of the vehicle.
Increasing production volumes of both passenger as well as commercial vehicles are expected to drive the automotive test equipment market during the forecast period. Increasing demand for high performance vehicles that has been witnessed in recent years is anticipated to further boost the automotive test equipment market in the next few years. Increasingly stringent norms and regulations regarding improvement of fuel efficiency by reduction in vehicular emissions are being laid down by governments of various nations across the world. This is expected to boost the automotive test equipment market in the near future.
Rising public preference toward vehicles with enhanced control over stability and more riding comfort is further anticipated to fuel the automotive test equipment market during the forecast period. Efforts are in progress to develop hybrid vehicles across the world. Hybrid vehicles are the combination of diesel or petrol engines with electric motors. Increased maintenance of diesel engines is anticipated to boost the automotive test equipment market during the forecast period.
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A comparatively low maturity of the automotive test equipment market in developed economies such as North America and Europe is expected to hamper the automotive test equipment market to some extent during the forecast period.
Based on vehicle type, the automotive test equipment market can be divided into passenger vehicles and commercial vehicles. The commercial vehicles segment can be further sub-segmented into light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), and buses & coaches. The passenger vehicles segment is anticipated to expand at a significant growth rate during the forecast period owing to the increasing demand for passenger vehicles in recent years.