Home Press Release Dynamometer Products and Services Market is estimated to hit $ 1.550 billion by 2023

Dynamometer Products and Services Market is estimated to hit $ 1.550 billion by 2023

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According to the new market research report by IndustryARC titled “Dynamometer Product and Services Market: By Type (Absorption, Transmission, Motoring); By Absorption Units (Solid/Hydraulic Frictions, Eddy Current); By Transmission (Epicyclical Train, Belt); By Measurement (Force, Power); By End-User (Manufacturing, Automotive, Kinesiology); By Geography – Forecast (2018-2023)”, the market is driven by the growing demand from the automotive industry.

Global Dynamometer Products and Services market generated revenue of $989.8 million in 2017 and is forecast to reach revenue of $1.550 billion by 2023, growing at a CAGR of 7.6% during 2018-2023.

North America continues to lead the market share during 2018-2023.

The market for dynamometer in 2014 was leading in North America with a 38% share, followed by Europe and Asia-Pacific (APAC) with 28% & 23% share, respectively. In Europe and North America, the dynamometer industry is matured as testing equipment has been practiced since a long time. However, Eastern Europe and South American countries such as Mexico and Brazil, are the potential market due to increased production capacity. On the other hand, the test equipment market of Asia-Pacific and RoW regions are emerging significantly due to the increase in the number of vehicle assembly lines and engine plants, with the growing demand for light, medium and heavy vehicles in countries such as China, India, South Korea, and so on.

North America is the largest market for dynamometers, accounting for revenue of $366.2 million in 2017. This segment is projected to grow to $541.78 million by 2023 as growing demand for hydraulic dynamometers, particularly in the energy and power industry, drive the market. RoW region is forecast to grow at a very slow CAGR of 0.4%, as lack of growth of the manufacturing segment in the Middle East slows down the market. The APAC region is forecast to exhibit the highest CAGR of 9.8% through 2023. The significant investment in the manufacturing sector over the next few years will drive this growth.

In North America, Eddy Current Dynamometers type segment is leading the market that had registered $175.8 million revenue in 2017 and is projected to reach $238.388 million by 2023 at 5.1% CAGR.

Selected / Sample Analysis done in the full Report:

The value chain analysis explains the comprehensive evaluation of each activity involved in the processing of any product/service, and finally delivering it to the end-users. Each stage across the value chain of a product or service is associated with creating some sort of monetary value. The value chain analysis can offer the company to examine every activity across the value chain, and identify the steps where elimination or modification is essential.

Dynamometers can be primarily categorized as devices based on a type of load-induced and the resistive force coupled in the mechanism. The requirements and manufacturing technology for each of these respective devices differ significantly. The Research and Development is generally an in-house facility responsible for evaluating several parameters and specifications that are required to design the signaling devices. These parameters are mainly controlled by the applications where signaling devices need to be integrated. The applications for these devices fall primarily into two categories: manufacturing, and testing based on the end user applications. Based on these categories, the specifications for dynamometers are being laid while simultaneously complying with industry regulations and certification standards.

Once these specifications are laid down, the designing phase deals with the development of a viable product. The prototypes are passed through various iterations until the desired result is achieved. This phase is also responsible for listing the required processing technology, materials and components in order to manufacture the dynamometer. The successive step deals with procuring required components and materials, handled entirely by secondary activity known as inbound logistics. The manufacturing equipment providers provide the necessary machinery and services support for producing the signaling devices. These devices are simultaneously tested and dispatched for outbound logistics. The outbound logistics deals with the pricing and distribution channel of these devices. After the end-user has acquired the requisite dynamometer, the dynamometer manufacturers offer all sorts of installation and maintenance services till the end of the product lifecycle.

Excerpts on Market Growth Factors Mentioned in the Full Report:

In automotive applications, enhanced accuracy, increasing demand for vehicle quality standards, and increasing awareness towards quality in developing countries are the major drivers for dynamometer that are expected to drive market growth.

Electric Motors being the key actuators are creating and maneuvering several industrial operations to offer comprehend massive expansion in their market demand.

The Automotive industry has been a prominent sector observing decent growth rates, particularly in the developing regions including Asia-Pacific (APAC) and Latin America. The growing automotive industry is set to spur the demand for dynamometers.

To access the full report browse the link below


Key Players of the Dynamometer Products and Services Market:

The key players in the market include Horiba (Japan), Meiden America, Inc. (U.S.), Mustang Dynamometer (U.S.), Kistler (Switzerland), Piper test and measurement (U.K.), Wineman Technology, Inc. (U.S.). Horiba (Japan) is the leading manufacturer of dynamometers, which are used in applications to test engines, power train, chassis, motors and so on. The automotive test system is the leading segment for Horiba. They have acquired MIRA, Ltd, a U.K. based vehicle engineering consultancy and testing service provider to complement their existing line of testing equipment products and extend their dominance in the dynamometer market. Horiba is the leading player in the dynamometer industry, with a market share of 17.02% in 2017, owing to the wide range of product portfolio combined with strong distribution channels worldwide.

Horiba, followed by Maiden America, a subsidiary of Meidensha group with a market share of 14.8% in 2017, is the second leading manufacturer of the dynamometer. Meiden America relies on the advanced technologies, strong R&D, and comprehensive product range to meet the emerging demand of test products. Moreover, the continuous investments in R&D activities are likely to increase the market share of the company.

Kristler and Mustang Dynamometer hold the market share of 12.1% and 10.6% respectively in the dynamometer market. With the varied product line across various end applications are likely to fuel their market share in the industry. Also, the strong supply chain across the globe, and years of expertise in the market will help them to extend their dominance in the market.

What can you expect from the report?

The Dynamometer Products & Services Market Report is Prepared with the Main Agenda to Cover the following 20 points:

Market Size by Product Categories

Market trends

Manufacturer Landscape

Distributor Landscape

Pricing Analysis

Top 10 End-user Analysis

Product Benchmarking

Product Developments

Merges & Acquisition Analysis

Patent Analysis

Demand Analysis ( By Revenue & Volume )

Country-level Analysis (10+)

Competitor Analysis

Market Shares Analysis

Value Chain Analysis

Supply Chain Analysis

Strategic Analysis

Current & Future Market Landscape Analysis

Opportunity Analysis

Revenue and Volume Analysis

Media Contact:

Mr. Venkat Reddy

Sales Manager

Email 1: sales@industryarc.com

Contact Sales: +1-614-588-8538 (Ext-101)

About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.

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