Wilmington, Delaware,, May 21, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Test Lanes Market by Test Type (Emissions Test Lanes, Brake Test Lanes, Suspension Test Lanes, Headlight Alignment Test Lanes, Alignment Test Lanes, and Others), Technology (Manual Test Lanes and Automated Test Lanes), and Vehicle Type (Passenger Cars, Commercial Vehicles, and Motorcycles): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the "Test Lanes Market" was valued at $2.1 billion in 2022, and is estimated to reach $3.7 billion by 2032, growing at a CAGR of 5.6% from 2023 to 2032.
Prime determinants of growth
Stringent regulations that require vehicles to undergo regular testing and inspection, including emissions testing, safety inspections, and assessments of roadworthiness, are expected to increase the demand for test lanes. Rise in vehicle ownership rates, particularly in developing nations, contributes to rise in need for vehicle testing services, thereby bolstering the growth of the test lanes market. Moreover, advancements in automotive technology, such as advanced driver assistance systems (ADAS) and the shift towards vehicle electrification, necessitate specialized testing equipment and facilities, thereby increasing the demand for modernized test lanes. In turn, such factors are anticipated to support the development of the test lanes market during the forecast period.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $2.1 billion |
| Market Size in 2032 | $3.7 billion |
| CAGR | 5.6% |
| No. of Pages in Report | 220 |
| Segments covered | Test Type, Technology, Vehicle Type, and Region |
| Drivers | Stringent regulations mandating regular testing and inspection of vehicles Increasing vehicle ownership rates, particularly in developing economies Growing awareness of road safety issues and the importance of vehicle maintenance and inspection |
| Opportunities | Integration of Digital Technologies |
| Restraints | High Initial Investment |
The emissions test lanes segment to maintain its leadership status during the forecast period.
By test type, the emissions test lanes segment held the highest market share in 2022, accounting for more than one-third of the global test lane market revenue and is estimated to maintain its leadership status during the forecast period, owing to stringent environmental regulations mandating emissions testing for vehicles, thus driving consistent demand for such services. However, the brake test lanes segment is projected to attain the highest CAGR of 6.7% from 2023 to 2032, owing to rise in focus on vehicle safety standards globally.
The automated test lanes segment maintained its lead position during the forecast period.
By technology, the automated test lanes segment accounted for the largest share in 2022, contributing to more than four-fifth of the global test lane market revenue, and is projected to attain the highest CAGR of 5.8% from 2023 to 2032, owing to rise in adoption of automation for efficiency and accuracy in vehicle testing processes.
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The passenger cars segment to maintain its leadership status during the forecast period.
By vehicle type, the passenger cars segment held the highest market share in 2022, accounting for nearly three-fifth of the global test lane market revenue and is estimated to maintain its leadership status during the forecast period, owing to larger volume of passenger cars in vehicle populations and the frequency of mandatory regulatory testing requirements. However, the commercial vehicles segment is projected to attain the highest CAGR of 6.1% from 2023 to 2032, owing to increasing fleet sizes and stringent regulatory mandates.
Asia-Pacific to maintain its dominance by 2032.
Region-wise, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly half of the global test lane market revenue and is expected to witness the fastest CAGR of 6.1% from 2023 to 2032, owing to significant automotive market size, expanding vehicle fleet, and increasing regulatory compliance requirements in the region.
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Leading Market Players: -
- Boston Garage Equipment Ltd.
- Crypton Technology Ltd. (part of Continental Corporation)
- Cormach Test Lane Systems
- MAHA Maschinenbau Haldenwang GmbH & Co. KG
- Hofmann Megaplan
- VTEQ
- Capelec
- Snap On Vehicle Service Group Italy S.r.l.
- Butler Vehicle Service Group Italy S.r.l.
- ATS ELGI.
The report provides a detailed analysis of these key players of the global test lane market. These players have adopted different strategies such as new product launches, collaborations, expansion, acquisition, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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