The North America Automotive Test Equipment Market would witness market growth of 4.3% CAGR during the forecast period (2024-2031).
The US market dominated the North America Automotive Test Equipment Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $698.6 million by 2031. The Canada market is experiencing a CAGR of 6.5% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 5.6% during (2024 - 2031).
The automotive industry is undergoing a transition that is marked by the adoption of cutting-edge technology, more stringent regulatory frameworks, and a greater focus on efficiency, safety, and sustainability. At the heart of this transformation lies the increasing need for robust testing mechanisms to validate modern vehicles' performance, reliability, and compliance with regulatory and consumer expectations.
This necessity has facilitated the growth and development of this market, which is essential for the environmental, safety, and quality performance of automobiles, ranging from conventional internal combustion engine (ICE) vehicles to the most advanced electric and autonomous vehicles.
Mexico, the world’s seventh-largest passenger vehicle manufacturer, also witnessed increased production of electric and hybrid vehicles, leading to rising demand for automotive test equipment. In 2022, EV and hybrid production in Mexico reached 51,065 units, marking an 8.5% increase from 2021. The country’s automotive industry benefits significantly from trade agreements like the United States-Mexico-Canada Agreement (USMCA), which fosters investment from global automakers. As Mexico continues to scale up EV production and exports, the need for cutting-edge testing equipment to evaluate vehicle emissions, battery systems, and overall safety is expected to grow significantly. Consequently, this market is experiencing additional growth as a result of the region's dedication to the development of sustainable transportation solutions and the reduction of carbon emissions. This development has further solidified North America's status as a major participant in the development of next-generation vehicle testing technologies.
Free Valuable Insights: The Automotive Test Equipment Market is Predict to reach USD 3.66 Billion by 2031, at a CAGR of 5.0%
Based on Vehicle, the market is segmented into Passenger Vehicle, Light Commercial Vehicle, and Heavy Commercial Vehicle. Based on Application Tools, the market is segmented into Handheld Scan Tool, PC/Laptop-Based Scan Tool, and Mobile Device-Based Scan Tool. Based on Product, the market is segmented into Chassis Dynamometer, Engine Dynamometer, Vehicle Emission Test System, and Wheel Alignment Tester. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Vehicle
By Application Tools
By Product
By Country
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