18-Mar-2020: 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.
In
depth research report on 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+.
Grand View Research
has segmented the global automotive emission test equipment market based on solution,
emission equipment, and region:
Automotive Emission Test Equipment Solution Outlook (Revenue,
USD Million, 2014 - 2025)
·
Emission Test Equipment
·
Emission Test Software
·
Emission Test Services
Automotive Emission Test Equipment Outlook (Revenue, USD
Million, 2014 - 2025)
·
Opacity Meters/Smoke Meters
·
Other Vehicle Emission Test Equipment
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About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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