Automotive Test Equipment Market
PUBLISHED: 2023 ID: SMRC22771
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Automotive Test Equipment Market

Automotive Test Equipment Market Forecasts to 2028 - Global Analysis By Product (Chassis Dynamometer, Vehicle Emission Test System, Wheel Alignment Tester, Engine Dynamometer and Other Products), Vehicle Type (Light Commercial Vehicle, Passenger Vehicle and Heavy Commercial Vehicle), Application (PC Or Laptop-Based Equipment and Mobile Device-Based Equipment), End User and By Geography

4.2 (43 reviews)
4.2 (43 reviews)
Published: 2023 ID: SMRC22771

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $2.77 BN

Projected Year Value (2028)

US $4.05 BN

CAGR (2022 - 2028)

6.5%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

Europe


According to Stratistics MRC, the Global Automotive Test Equipment Market is accounted for $2.77 billion in 2022 and is expected to reach $4.05 billion by 2028 growing at a CAGR of 6.5% during the forecast period. Automotive test equipment is used to conduct quality control tests on automobiles in order to evaluate and verify their effective performance. Automotive test equipment contributes to vehicle efficiency and consequently plays a significant part in extending the vehicle's overall life. These devices are necessary because they aid in detecting and diagnosing system flaws. It consists of all of the equipment and gadgets required to detect flaws by testing vehicle performance and operation. This includes testing engine oil consumption, the effect of lubricant aeration on handbrake tension, fuel dilution, and so on.

However, after much consideration and reflection, I have decided to pursue other career opportunities. This was not an easy decision for me to make, but I believe it is the right one for my personal and professional development.



Market Dynamics:

Driver:

Rise in stringent emissions norms to prevent environmental impact

The National Highway Traffic Safety Administration (NHSA) of the United States Department of Transportation launched a national programme comprised of new regulations aimed at reducing Greenhouse Gas (GHG) emissions and improving fuel economy. The Environmental Protection Agency (EPA) has also established GHG emissions guidelines under the Clean Air Act to reduce greenhouse gas emissions. The European Union (EU) set tough Euro 6 standards to make cars cleaner by cutting the exhaust emission of hazardous chemicals such as nitrogen oxide (NOx), carbon monoxide (CO), and hydrocarbons. The new Euro 6 standards contain distinct specifications for petrol and diesel vehicles. These factors are propelling the global automotive test equipment market forward.

Restraint:

Lack of R&D facilities for automotive test equipment


Numerous stringent emission requirements and regulations enforced globally have compelled OEMs to efficiently test their vehicles to guarantee that they meet these norms. Contemporary vehicles, such as hybrid cars with hybrid powertrains, necessitate the use of many types of test equipment, such as mobile-based equipment and others. There are only a few companies that offer hybrid car testing options. Hybrid car testing necessitates advanced research because these vehicles necessitate new sorts of test equipment. Lack of R&D facilities for automotive testing would result in less progressive and innovative products, as well as a reduction in automotive testing quality.

Opportunity:

Growing demand for onboard diagnostic tools

The self-diagnostic capacity of OBD technology has boosted the demand for OBD testing in recent years. OBD gives an individual complete control over the engine. OBD tools, in addition to detecting vehicle defects, also help to limit emissions by providing early indications of impending component failure. The troubleshooting properties of OBD-II allow users or technicians to detect vehicle faults. Instead of coming to the auto shop to diagnose the problem, the user can read the state of the engine and diagnose the problem themselves using OBD equipment.

Threat:

Maintaining a balance between high cost & performance of test equipment

The automotive sector is stuck between technical advancement and cost reduction. Technology such as advanced test equipment utilised for electric or hybrid car testing are more expensive than traditional test equipment. It takes time for a technology to gain popularity in order for its manufacturers to benefit from economies of scale. Entry-level passenger cars are in high demand in emerging economies, and automakers must offer their products at reasonable costs. In this scenario, providing expensive test equipment can be a hindrance.

Covid-19 Impact

The COVID-19 pandemic has had a significant influence on all industries, including the automotive industry and key manufacturers. Productivity declines, disruptions in the automotive supply chain, and factory lockdowns all had a significant influence on new car demand, supply, and registrations. Increasing vehicle utilisation necessitates the deployment of more testing equipment. However, due to COVID-19, there is no traffic and no demand for automotive test equipment. Original equipment manufacturers (OEMs) have also ceased manufacturing, reducing demand for automotive test equipment even further.

The chassis dynamometer segment is expected to be the largest during the forecast period

The chassis dynamometer segment is estimated to have a lucrative growth. This is attributed to low-cost production and an increase in the number of automobile manufacturing facilities in developing countries. It also aids in determining the overall functioning of a vehicle's drivetrain and is widely utilised for pollution testing and mileage accumulation. The Chassis Dynamometer measures vehicle performance using torque and speed characteristics. A wheel-dynamometer or chassis testing machine is another name for chassis dynamometer.

The PC or laptop-based equipment segment is expected to have the highest CAGR during the forecast period

The PC or laptop-based equipment segment is anticipated to witness the fastest CAGR growth during the forecast period. The majority of PC/laptop-based testing equipment consists of a hardware and software package that includes all of the necessary cables, hardware, and software. These PC-based systems contain tools for visualising and logging sensor data, calculating fuel economy, and estimating horsepower and torque. Furthermore, many mechanics prefer PC/laptop-based data extraction and analysis solutions for car components.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period. The region serves as a manufacturing centre for automobiles. Rising consumer spending power is fuelling demand for automobiles in the region. Furthermore, due to low production costs and the availability of inexpensive labour, several OEMs have either created production facilities or worked with domestic vehicle manufacturers. Key suppliers of automotive test equipment can be seen throughout Asia Pacific.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period. Several well-known vehicle manufactures have a presence in the region. Furthermore, as a result of the acceptance of safety certification, manufacturers in the region are engaged in offering great safety features that are tested in accordance with many safety requirements. Stringent pollution standards, combined with the introduction of eCall technology in all new vehicle types, are expected to stimulate regional demand during the forecast period.



Key players in the market

Some of the key players profiled in the Automotive Test Equipment Market include Sierra Instruments, DENSO CORPORATION, Honeywell Industrial Inc., Horiba, Ltd, Bosch, Continental AG, Vector Informatik, ABB, Freese Enterprises, Millbrook Proving Ground, Delphi Automotive PLC, AVL List GmbH, PTM Electronics and SGS S.A.

Key Developments:

In March 2020, Actia set up its vehicle inspection center in the Philippines and Laos, with the test seat for hefty good vehicles, light vehicles, and bikes. In the Philippines, the initial 40 inspection centers were opened under the name QWIK. Then again, in Laos, Actia set up two inspection lines for light and substantial products vehicles.

In November 2019, Robert Bosch had technically upgraded the BEA 950 discharge analyzer and Bosch FSA7 40 vehicle framework examination. The FSA 740 highlights the estimation choice for the 48V framework and ergonomic streetcar. The BEA 950 gadget, which is utilized for discharge examination, is presently fitted with a 24-inch huge screen.

In September 2018, Bosch (Germany) dispatched another item DCI 700 diesel seat with another testing framework for injectors implanted in vehicles that have short testing time, ergonomic plan, and effective work process.

In May 2018, Horiba (Japan), provider of auto test gear, dispatched its new SERVICE-ONE savvy and a solid idea for outflow control framework intended for Real Driving Emission (RDE) testing of vehicles.

Products Covered:
• Chassis Dynamometer
• Vehicle Emission Test System
• Wheel Alignment Tester
• Engine Dynamometer
• Other Products

Vehicle Types Covered:
• Light Commercial Vehicle
• Passenger Vehicle
• Heavy Commercial Vehicle

Applications Covered:
• PC Or Laptop-Based Equipment
• Mobile Device-Based Equipment

End Users Covered:
• Authorized Service Center
• OEM Assembly Plant
• OEM R&D/ Technical Center

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Automotive Test Equipment Market, By Product
5.1 Introduction
5.2 Chassis Dynamometer
5.3 Vehicle Emission Test System
5.4 Wheel Alignment Tester
5.5 Engine Dynamometer
5.6 Other Products

6 Global Automotive Test Equipment Market, By Vehicle Type
6.1 Introduction
6.2 Light Commercial Vehicle
6.3 Passenger Vehicle
6.4 Heavy Commercial Vehicle

7 Global Automotive Test Equipment Market, By Application
7.1 Introduction
7.2 PC Or Laptop-Based Equipment
7.3 Mobile Device-Based Equipment

8 Global Automotive Test Equipment Market, By End User
8.1 Introduction
8.2 Authorized Service Center
8.3 OEM Assembly Plant
8.4 OEM R&D/ Technical Center

9 Global Automotive Test Equipment Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa

10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies

11 Company Profiling
11.1 Sierra Instruments
11.2 DENSO CORPORATION
11.3 Honeywell Industrial Inc.
11.4 Horiba, Ltd
11.5 Bosch
11.6 Continental AG
11.7 Vector Informatik
11.8 ABB
11.9 Freese Enterprises
11.10 Millbrook Proving Ground
11.11 Delphi Automotive PLC
11.12 AVL List GmbH
11.13 PTM Electronics
11.14 SGS S.A

List of Tables
1 Global Automotive Test Equipment Market Outlook, By Region (2020-2028) ($MN)
2 Global Automotive Test Equipment Market Outlook, By Product (2020-2028) ($MN)
3 Global Automotive Test Equipment Market Outlook, By Chassis Dynamometer (2020-2028) ($MN)
4 Global Automotive Test Equipment Market Outlook, By Vehicle Emission Test System (2020-2028) ($MN)
5 Global Automotive Test Equipment Market Outlook, By Wheel Alignment Tester (2020-2028) ($MN)
6 Global Automotive Test Equipment Market Outlook, By Engine Dynamometer (2020-2028) ($MN)
7 Global Automotive Test Equipment Market Outlook, By Other Products (2020-2028) ($MN)
8 Global Automotive Test Equipment Market Outlook, By Vehicle Type (2020-2028) ($MN)
9 Global Automotive Test Equipment Market Outlook, By Light Commercial Vehicle (2020-2028) ($MN)
10 Global Automotive Test Equipment Market Outlook, By Passenger Vehicle (2020-2028) ($MN)
11 Global Automotive Test Equipment Market Outlook, By Heavy Commercial Vehicle (2020-2028) ($MN)
12 Global Automotive Test Equipment Market Outlook, By Application (2020-2028) ($MN)
13 Global Automotive Test Equipment Market Outlook, By PC Or Laptop-Based Equipment (2020-2028) ($MN)
14 Global Automotive Test Equipment Market Outlook, By Mobile Device-Based Equipment (2020-2028) ($MN)
15 Global Automotive Test Equipment Market Outlook, By End User (2020-2028) ($MN)
16 Global Automotive Test Equipment Market Outlook, By Authorized Service Center (2020-2028) ($MN)
17 Global Automotive Test Equipment Market Outlook, By OEM Assembly Plant (2020-2028) ($MN)
18 Global Automotive Test Equipment Market Outlook, By OEM R&D/ Technical Center (2020-2028) ($MN)
19 North America Automotive Test Equipment Market Outlook, By Country (2020-2028) ($MN)
20 North America Automotive Test Equipment Market Outlook, By Product (2020-2028) ($MN)
21 North America Automotive Test Equipment Market Outlook, By Chassis Dynamometer (2020-2028) ($MN)
22 North America Automotive Test Equipment Market Outlook, By Vehicle Emission Test System (2020-2028) ($MN)
23 North America Automotive Test Equipment Market Outlook, By Wheel Alignment Tester (2020-2028) ($MN)
24 North America Automotive Test Equipment Market Outlook, By Engine Dynamometer (2020-2028) ($MN)
25 North America Automotive Test Equipment Market Outlook, By Other Products (2020-2028) ($MN)
26 North America Automotive Test Equipment Market Outlook, By Vehicle Type (2020-2028) ($MN)
27 North America Automotive Test Equipment Market Outlook, By Light Commercial Vehicle (2020-2028) ($MN)
28 North America Automotive Test Equipment Market Outlook, By Passenger Vehicle (2020-2028) ($MN)
29 North America Automotive Test Equipment Market Outlook, By Heavy Commercial Vehicle (2020-2028) ($MN)
30 North America Automotive Test Equipment Market Outlook, By Application (2020-2028) ($MN)
31 North America Automotive Test Equipment Market Outlook, By PC Or Laptop-Based Equipment (2020-2028) ($MN)
32 North America Automotive Test Equipment Market Outlook, By Mobile Device-Based Equipment (2020-2028) ($MN)
33 North America Automotive Test Equipment Market Outlook, By End User (2020-2028) ($MN)
34 North America Automotive Test Equipment Market Outlook, By Authorized Service Center (2020-2028) ($MN)
35 North America Automotive Test Equipment Market Outlook, By OEM Assembly Plant (2020-2028) ($MN)
36 North America Automotive Test Equipment Market Outlook, By OEM R&D/ Technical Center (2020-2028) ($MN)
37 Europe Automotive Test Equipment Market Outlook, By Country (2020-2028) ($MN)
38 Europe Automotive Test Equipment Market Outlook, By Product (2020-2028) ($MN)
39 Europe Automotive Test Equipment Market Outlook, By Chassis Dynamometer (2020-2028) ($MN)
40 Europe Automotive Test Equipment Market Outlook, By Vehicle Emission Test System (2020-2028) ($MN)
41 Europe Automotive Test Equipment Market Outlook, By Wheel Alignment Tester (2020-2028) ($MN)
42 Europe Automotive Test Equipment Market Outlook, By Engine Dynamometer (2020-2028) ($MN)
43 Europe Automotive Test Equipment Market Outlook, By Other Products (2020-2028) ($MN)
44 Europe Automotive Test Equipment Market Outlook, By Vehicle Type (2020-2028) ($MN)
45 Europe Automotive Test Equipment Market Outlook, By Light Commercial Vehicle (2020-2028) ($MN)
46 Europe Automotive Test Equipment Market Outlook, By Passenger Vehicle (2020-2028) ($MN)
47 Europe Automotive Test Equipment Market Outlook, By Heavy Commercial Vehicle (2020-2028) ($MN)
48 Europe Automotive Test Equipment Market Outlook, By Application (2020-2028) ($MN)
49 Europe Automotive Test Equipment Market Outlook, By PC Or Laptop-Based Equipment (2020-2028) ($MN)
50 Europe Automotive Test Equipment Market Outlook, By Mobile Device-Based Equipment (2020-2028) ($MN)
51 Europe Automotive Test Equipment Market Outlook, By End User (2020-2028) ($MN)
52 Europe Automotive Test Equipment Market Outlook, By Authorized Service Center (2020-2028) ($MN)
53 Europe Automotive Test Equipment Market Outlook, By OEM Assembly Plant (2020-2028) ($MN)
54 Europe Automotive Test Equipment Market Outlook, By OEM R&D/ Technical Center (2020-2028) ($MN)
55 Asia Pacific Automotive Test Equipment Market Outlook, By Country (2020-2028) ($MN)
56 Asia Pacific Automotive Test Equipment Market Outlook, By Product (2020-2028) ($MN)
57 Asia Pacific Automotive Test Equipment Market Outlook, By Chassis Dynamometer (2020-2028) ($MN)
58 Asia Pacific Automotive Test Equipment Market Outlook, By Vehicle Emission Test System (2020-2028) ($MN)
59 Asia Pacific Automotive Test Equipment Market Outlook, By Wheel Alignment Tester (2020-2028) ($MN)
60 Asia Pacific Automotive Test Equipment Market Outlook, By Engine Dynamometer (2020-2028) ($MN)
61 Asia Pacific Automotive Test Equipment Market Outlook, By Other Products (2020-2028) ($MN)
62 Asia Pacific Automotive Test Equipment Market Outlook, By Vehicle Type (2020-2028) ($MN)
63 Asia Pacific Automotive Test Equipment Market Outlook, By Light Commercial Vehicle (2020-2028) ($MN)
64 Asia Pacific Automotive Test Equipment Market Outlook, By Passenger Vehicle (2020-2028) ($MN)
65 Asia Pacific Automotive Test Equipment Market Outlook, By Heavy Commercial Vehicle (2020-2028) ($MN)
66 Asia Pacific Automotive Test Equipment Market Outlook, By Application (2020-2028) ($MN)
67 Asia Pacific Automotive Test Equipment Market Outlook, By PC Or Laptop-Based Equipment (2020-2028) ($MN)
68 Asia Pacific Automotive Test Equipment Market Outlook, By Mobile Device-Based Equipment (2020-2028) ($MN)
69 Asia Pacific Automotive Test Equipment Market Outlook, By End User (2020-2028) ($MN)
70 Asia Pacific Automotive Test Equipment Market Outlook, By Authorized Service Center (2020-2028) ($MN)
71 Asia Pacific Automotive Test Equipment Market Outlook, By OEM Assembly Plant (2020-2028) ($MN)
72 Asia Pacific Automotive Test Equipment Market Outlook, By OEM R&D/ Technical Center (2020-2028) ($MN)
73 South America Automotive Test Equipment Market Outlook, By Country (2020-2028) ($MN)
74 South America Automotive Test Equipment Market Outlook, By Product (2020-2028) ($MN)
75 South America Automotive Test Equipment Market Outlook, By Chassis Dynamometer (2020-2028) ($MN)
76 South America Automotive Test Equipment Market Outlook, By Vehicle Emission Test System (2020-2028) ($MN)
77 South America Automotive Test Equipment Market Outlook, By Wheel Alignment Tester (2020-2028) ($MN)
78 South America Automotive Test Equipment Market Outlook, By Engine Dynamometer (2020-2028) ($MN)
79 South America Automotive Test Equipment Market Outlook, By Other Products (2020-2028) ($MN)
80 South America Automotive Test Equipment Market Outlook, By Vehicle Type (2020-2028) ($MN)
81 South America Automotive Test Equipment Market Outlook, By Light Commercial Vehicle (2020-2028) ($MN)
82 South America Automotive Test Equipment Market Outlook, By Passenger Vehicle (2020-2028) ($MN)
83 South America Automotive Test Equipment Market Outlook, By Heavy Commercial Vehicle (2020-2028) ($MN)
84 South America Automotive Test Equipment Market Outlook, By Application (2020-2028) ($MN)
85 South America Automotive Test Equipment Market Outlook, By PC Or Laptop-Based Equipment (2020-2028) ($MN)
86 South America Automotive Test Equipment Market Outlook, By Mobile Device-Based Equipment (2020-2028) ($MN)
87 South America Automotive Test Equipment Market Outlook, By End User (2020-2028) ($MN)
88 South America Automotive Test Equipment Market Outlook, By Authorized Service Center (2020-2028) ($MN)
89 South America Automotive Test Equipment Market Outlook, By OEM Assembly Plant (2020-2028) ($MN)
90 South America Automotive Test Equipment Market Outlook, By OEM R&D/ Technical Center (2020-2028) ($MN)
91 Middle East & Africa Automotive Test Equipment Market Outlook, By Country (2020-2028) ($MN)
92 Middle East & Africa Automotive Test Equipment Market Outlook, By Product (2020-2028) ($MN)
93 Middle East & Africa Automotive Test Equipment Market Outlook, By Chassis Dynamometer (2020-2028) ($MN)
94 Middle East & Africa Automotive Test Equipment Market Outlook, By Vehicle Emission Test System (2020-2028) ($MN)
95 Middle East & Africa Automotive Test Equipment Market Outlook, By Wheel Alignment Tester (2020-2028) ($MN)
96 Middle East & Africa Automotive Test Equipment Market Outlook, By Engine Dynamometer (2020-2028) ($MN)
97 Middle East & Africa Automotive Test Equipment Market Outlook, By Other Products (2020-2028) ($MN)
98 Middle East & Africa Automotive Test Equipment Market Outlook, By Vehicle Type (2020-2028) ($MN)
99 Middle East & Africa Automotive Test Equipment Market Outlook, By Light Commercial Vehicle (2020-2028) ($MN)
100 Middle East & Africa Automotive Test Equipment Market Outlook, By Passenger Vehicle (2020-2028) ($MN)
101 Middle East & Africa Automotive Test Equipment Market Outlook, By Heavy Commercial Vehicle (2020-2028) ($MN)
102 Middle East & Africa Automotive Test Equipment Market Outlook, By Application (2020-2028) ($MN)
103 Middle East & Africa Automotive Test Equipment Market Outlook, By PC Or Laptop-Based Equipment (2020-2028) ($MN)
104 Middle East & Africa Automotive Test Equipment Market Outlook, By Mobile Device-Based Equipment (2020-2028) ($MN)
105 Middle East & Africa Automotive Test Equipment Market Outlook, By End User (2020-2028) ($MN)
106 Middle East & Africa Automotive Test Equipment Market Outlook, By Authorized Service Center (2020-2028) ($MN)
107 Middle East & Africa Automotive Test Equipment Market Outlook, By OEM Assembly Plant (2020-2028) ($MN)
108 Middle East & Africa Automotive Test Equipment Market Outlook, By OEM R&D/ Technical Center (2020-2028) ($MN)

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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