Automotive Emission Test Equipment Market New Opportunities For Industry Growth And Forecast To 2025
The global automotive emission test equipment market size is anticipated to reach USD 869.8 million by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 5.1% during the forecast period. The demand for automotive emission test systems is estimated to increase owing to stringent regulations associated with vehicle exhaust emissions and soaring need for regular periodic technical inspections (PTI) that are aimed at regulating gaseous emissions from exhaust vehicles. Rising concerns to limit adverse environmental effects caused by passenger and light-duty vehicles are also expected to drive the automotive emission test equipment market over the forecast period.
The emission test equipment segment held the largest share in the automotive emission test system market in 2018. It is likely to maintain its dominance in through 2025, on account of surging demand for testing equipment worldwide, especially from automobile manufacturers. Furthermore, the emission test services segment in the automotive emission test system market is a developed business sector across the U.S. and EU member nations. The growth of the segment can be attributed to increasing demand for service centers owing to emission targets mentioned by governments of EU countries.
Asia Pacific is poised to register the highest CAGR over the forecast period. The growth of the region can be attributed to surging adoption of emission norms and growing emphasis on ensuring that automobile manufacturers comply with the same, especially in developing countries such as China and India. These countries are focusing extensively on regulating, monitoring, and reducing greenhouse gas (GHG) emissions in order to cut down adverse effects on environment due to excessive GHG emissions by vehicle exhaust systems.
The adoption rate of periodic technical inspections, vehicle emission norms & standards, and inspection & maintenance programs is high in Europe and North America. European countries such as the U.K., Germany, France, Italy, Spain, the Netherlands, and Finland are already following vehicle emission stringent rules & regulations and have laid down strict standards & norms so as to regulate GHG emissions and other hazardous effects of pollutants emitted by vehicle exhaust systems. Therefore, Europe spearheaded the global vehicle emission test system market in 2018 owing to presence of several testing equipment manufacturers and emission testing service providers.
Key market participants in the global automotive emission test equipment market include HORIBA, Ltd., Opus Inspection, TÜV Nord Group, Gemco Equipment Ltd, and TEXA S.p.A.
Access Research Report of Automotive Emission Test Equipment Market @ https://www.grandviewresearch.com/industry-analysis/automotive-emission-test-equipment-market
Further key findings from the report suggest:
- The emission test software segment is anticipated to register considerable growth over the forecast period. The software is used to analyze and measure data conducted through various test & inspection system
- The demand for opacity meters/smoke meters is estimated to increase over the coming years, as these devices are used to measure optical properties of smoke emitted by diesel engines
- Europe was the highest revenue-generating regional market in 2018 owing to domicile of a large number of emission testing equipment manufacturers, software developers, and related service providers
- Some of the key participants in the vehicle emission test system market are SGS SA, Sierra Instruments, Inc., Gordon-Darby, Inc., Wager Company, and Applus+.
Access Press Release of Automotive Emission Test Equipment Market @ https://www.grandviewresearch.com/press-release/global-automotive-emission-test-equipment-market