NEW YORK, March 16, 2021 /PRNewswire/ — The automotive dyno market and it is poised to grow by USD 190.18 mn during 2020-2024, progressing at a CAGR of over 3% during the forecast period, according to Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the automotive dyno market.
Frequently Asked Questions:
- What are the major trends in the market?
Need for over-the-air testing, inspection, and certification (TIC) for vehicles is a major trend driving the growth of the market.
- At what rate is the market projected to grow?
The market will accelerate at a CAGR of over 3% and the incremental growth of the market is anticipated to be USD 190.18 mn.
- Who are the top players in the market?
ATS Automation Tooling Systems Inc., AVL List GmbH, Dynomerk Controls, Froude Inc., HORIBA Ltd., Meidensha Corp., Mustang Dynamometer, Power Test Inc., SAKOR Technologies Inc., and Taylor Dynamometer, are some of the major market participants.
- What is the key market driver?
The dependence on software-based systems is one of the major factors driving the market.
- How big is the APAC market?
The APAC region will contribute to 70% of the market share..
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ATS Automation Tooling Systems Inc., AVL List GmbH, Dynomerk Controls, Froude Inc., HORIBA Ltd., Meidensha Corp., Mustang Dynamometer, Power Test Inc., SAKOR Technologies Inc., and Taylor Dynamometer are some of the major market participants. The dependence on software-based systems will offer immense growth opportunities. In a bid to help players strengthen their market…
Read More: Automotive Dyno Market to Grow by $ 190.18 mn in 2020, ATS Automation