LONDON--(BUSINESS WIRE)--The automotive battery testers market is expected to grow by USD 96.6 million during 2020-2024. The report also provides competitive insights into the market impact and new opportunities created due to the COVID-19 pandemic. According to the latest market research report by Technavio, the impact is going to be significant in the first quarter. It will eventually lessen the subsequent quarters – with a limited impact on the full-year economic growth.
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Globally, the average service life of vehicles has increased considerably over the years. For instance, the average age of light utility vehicles in the US has increased from 8 years in 1995 to 12 years in 2016. Besides, modern vehicles have rigid construction, a long-lasting and highly durable engine, and undergo regular maintenance at periodic intervals. This has increased the demand for automotive maintenance and repair services worldwide. These factors are creating the demand for essential automotive components such as batteries, which is driving the market growth.
As per Technavio, the convenience of online purchase of automotive products such as battery testers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024. To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43104
Automotive Battery Testers Market: Convenience of Online Purchase of Automotive Products such as Battery Testers
The growing popularity of e-commerce platforms has increased the online sale of automotive components, especially in developed countries such as the US and the UK. This can be attributed to the high adoption of smartphones and the increasing penetration of the internet worldwide. Also, benefits offered by online stores such as the availability of discounts and the ability to compare prices, features, and reviews have increased the growth of the automotive aftermarket parts market over e-commerce platforms. This trend is positively influencing the growth of the global automotive battery testers market.
“The development of touchscreen battery testers and improving automotive aftermarket distribution channel and supply chain network will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Automotive Battery Testers Market: Segmentation Analysis
This market research report segments the automotive battery testers market by Type (Simple battery testers and integrated battery testers) and Region (APAC, Europe, North America, South America, and MEA).
The APAC region led the automotive battery testers market in 2019, followed by Europe, North America, South America, and MEA respectively. Due to the strong economic growth potential of key automotive markets such as China and India, the APAC region will register the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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