About Automotive Tools
Automotive tools are used for automotive, construction, and DIY repairs. Automotive tools include toolsets, screwdriver sets, ratchets, wrenches and wrench sets, nut drivers, and other accessories along with portable power stations, jump starters, automotive battery chargers, and power inverters. The rising production of vehicles are propelling the growth of the automotive tools market in the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Automotive Tools is a fragmented market due to the presence of a large number of established competitors. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.The Vendors having a strong hold in the market are Mac Tools, Delphi Automotive PLC, Denso Corporation, and Continental AG. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Automotive Tools market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Mac Tools (United States), Delphi Automotive PLC (Ireland), Denso Corporation (Japan), Continental AG (Germany), Robert Bosch GmbH (Germany), Snap on Incorporated (United States), Hickok Incorporated (United States), tanley Black & Decker, Inc. (United States), ATD Tools, Inc. (United States) and Nupla Tools (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Akar Tools Limited India (India).
Segmentation Overview
AMA Research has segmented the market of Global Automotive Tools market by Type (Wrenches and Sockets, Allen Wrenches, Specialty Tools and Others), Application (Car Repair Shop, 4s Shop, Personal Use and Others) and Region.
On the basis of geography, the market of Automotive Tools has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. OEMs will boost the Automotive Tools market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rise in Number of Automotive Workshops
Market Growth Drivers:
Increasing Automotive Industry Globally and Rising Demand of Automotive Tools From the Maintainance and Repair Shops
Challenges:
Technological Advances that Maximize Automotive Tools
Restraints:
Intense Competition among the Competitors and High Cost of Advanced Technology Equipment
Opportunities:
Technological Advancement and Development In Automotive Tools is Creates the Opportunities for Market
Market Leaders and their expansionary development strategies
In October 2020, BorgWarner Inc. acquired Delphi Technologies. The combination of BorgWarner and Delphi Technologies is expected to strengthen BorgWarner's electronics and power electronics, capabilities, and scale, making it a leader in electric propulsion systems that BorgWarner believes is well-positioned to capitalize on future propulsion migrations.
In January 2019, Bosch Power Tools India, a leading supplier of power tools for the construction, woodworking, and metalworking industries, introduced the GWS 800 Professional to its range of powerful angle grinders. Moreover, with this launch, the localization share of Bosch power tools in India will reach 55% by 2023.
Key Target Audience
Automotive Tools Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors and Other
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.