The global ADAS (Advanced Driver Assistance Systems) calibration equipment market is projected to reach approximately USD 277.8 million in 2023. Over the next decade, demand for ADAS calibration equipment is expected to grow at a compound annual growth rate (CAGR) of 12.6%, with market value anticipated to exceed USD 911.2 million by 2033. The increasing popularity of ADAS in modern vehicles is a key growth driver, as these systems enhance safety, reduce accident risks, and add comfort for drivers.
Historically, the ADAS calibration equipment market registered a moderate CAGR of 6.3% from 2018 to 2022 and reached US$ 249.2 million by 2022. The rapid advancement of the automotive sector and the increasing adoption of advanced driving technologies drive the expansion of the ADAS calibration equipment market. An upsurge in the adoption of ADAS technology is expected to boost the global sales of ADAS calibration equipment. In addition, increasing incidences of road accidents and the implementation of stringent regulations regarding the improvement of passenger safety also propel the ADAS calibration equipment market forward in the upcoming years.
Key Takeaways:
- While a lack of awareness of the technology may stymie market growth; it is estimated that the integration of advanced technology and the introduction of camera-based systems will strengthen market prospects.
- The US will dominate the North American ADAS calibration system market with a share of 22.9% in 2023.
- In 2023, the ADAS calibration system market in the U.K will account for 3.4% of the global market share.
- By vehicle type, the passenger vehicles segment will account for 70% of the market sales.
- Based on the end-user, the automotive OEM segment will create high demand for the market.
Competitive Landscape
Autel Intelligent Technology Corp., Ltd., Launch Tech Co., Ltd., Mahle GmbH, Robert Bosch GmbH, and TEXA S.p.A, among others, are some of the significant players in the ADAS calibration equipment market profiled in the full version of the report.
Eminent market players are focusing on manufacturing advanced ADAS calibration equipment products. These enterprises also employ various mergers and acquisition strategies to strengthen their market position. For instance, in April 2022, Autel introduced IA900WA, a new wheel alignment and ADAS calibration frame.
Key players
- Robert Bosch GmbH
- Mahle GmbH
- HELLA GmbH & Co. KGaA
- TEXA S.p.A
- Autel Intelligent Technology Corp., Ltd.
- Launch Tech Co., Ltd.
- COJALI S.L.
- Hofmann Megaplan GmbH
- The Burke Porter Group
- Hunter Engineering Company
- BorgWarner Inc. (Delphi Technologies)
ADAS Calibration Equipment Segmentation
By Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
By End User:
- Automotive OEMs
- Tier 1 Suppliers
- Service Stations
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
Report Preview: https://www.futuremarketinsights.com/reports/adas-calibration-equipment-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
