Automotive Maintenance Tools Market – By Product, By Vehicle Type, By Mode of Operation, By Sales Channel , By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030
Automotive Maintenance Tools Market Overview
Automotive Maintenance Tools Market is forecast to reach $26 billion by 2030, after growing at a CAGR of 5.9% during 2024-2030. The market growth can be attributed to the increasing demand for maintenance and servicing, growing emphasis on vehicle safety, performance and fuel efficiency and the growing interest in DIY repair. Additionally, the increasing adoption of electric vehicles is also propelling the growth of this market. The demand for automotive maintenance tools is expected to increase significantly due to the growing vehicle production and the rising emphasis on efficient vehicle maintenance.
A growing trend in the automotive maintenance tools market is the integration of smart and connected tools. New vehicles, complete with 100 or more electronic control units (ECUs), have become highly complex networks and this increases the pressure to develop more efficient tools and systems to effectively diagnose the ECUs. Due to the complexity of modern vehicle electronics, automotive professionals now rely on advanced diagnostic tools. Sophisticated scanners, oscilloscopes, and software applications are essential for accurately identifying and resolving vehicle problems. Multi-functional tools have become increasingly popular in the automotive maintenance tools market due to their versatility, efficiency, and space-saving benefits. For instance, tools like multi-bit screw drivers, ratchet and socket sets and multi-function pilers allow technicians to quickly switch between different tasks without having to find and retrieve multiple individual tools. This efficiency can significantly reduce the time spent on maintenance and repairs.
Automotive Maintenance Tools Market Report Coverage
The report: “Automotive Maintenance Tools Market – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Automotive Maintenance Tools Market.
Attribute | Segment |
---|---|
By Product |
|
By Vehicle Type |
|
By Mode of Operation |
|
By Sales Channel |
|
By Geography |
|
COVID-19 / Ukraine Crisis - Impact Analysis:
- The COVID-19 pandemic disrupted the global automotive industry impacting the demand for automotive maintenance tools. Reduced vehicle production and sales coupled with supply chain disruptions led to a decline in the demand for tools used in vehicle maintenance and repair. However, as several service centers and repair shops remained shut due to lockdowns, there was a demand for DIY tools as consumers themselves began maintenance and service of their vehicles.
- The Russia-Ukraine war disrupted supply chains for certain components but the overall impact on the automotive maintenance tools industry has been relatively minimal. However, the war indirectly affected the demand for maintenance tools through inflation and economic uncertainty.
Key Takeaways
Hand Tools is the Largest Segment
The Hand Tools segment held the largest share in Global Automotive Maintenance Tools Market. Hand tools can be used for a wide range of tasks from simple repairs to more complex repairs. Compared to power tools, hand tools are generally more affordable, making them accessible to a wider range of users. Hand tools are generally more reliable and less prone to breakdowns than power tools, making them a dependable option for automotive maintenance. As per the International Organization of Motor Vehicle Manufacturers (OICA), globally nearly 9.3 million vehicles were sold in 2023 compared to 8.2 million vehicles in 2022. As the number of vehicles on the roads continues to rise, the need for maintenance and repair activities also increases thereby driving the demand for automotive maintenance tools.
Passenger Vehicles Dominate the Market
The passenger vehicle segment held the largest share in the Global Automotive Tools Maintenance Market. According to The European Automobile Manufacturers’ Association (AECA), passenger cars account for 83% of EU motor vehicle production, with almost 10.9 million units built per year. Over the coming years, the Automotive Maintenance market is expected to be dominated by passenger vehicles due to their high demand, the increasing number of vehicles on the road including the adoption of EVs, Passenger vehicles make up the majority of the Automotive Maintenance Tools industry. The expanding global vehicle fleet, including passenger cars leads to a higher demand for automotive tools. More vehicles on the road translates to more frequent maintenance and repairs, sustaining the market for automotive tools.
APAC Leads the Market
Asia Pacific held the dominant share in the automotive maintenance tools market up to a share of 41% and the region is expected to register the fastest growth rate in the near future. Increasing passenger vehicles sales across Countries like China, India, Japan are fuelling the market growth. As per the Global EV Outlook 2024 by the International Energy Agency (IEA), the market share of electric cars in China could reach up to 45% in 2024. Moreover, rapid growth in the automotive aftermarket industry due to aging vehicles and increasing use of second-hand cars is also driving the market growth in this region. For instance, sales of used vehicles in China surged 14.54% year on year in the first seven months of 2023, data from the China Automobile Dealers Association shows.
Growth in Automotive Production and Advancements in Technology Boosts the Growth
The global increase in automotive production and sales driven by economic growth and rising consumer demand fuels the need for automotive tools. The market is being fueled by the ongoing need for regular vehicle maintenance. Continuous advancements in automotive technology including the development of electric vehicles (EVs), hybrid vehicles and advanced driver-assistance systems (ADAS) necessitate specialized tools for diagnostics, repair and maintenance. ADAS technologies offer a range of features designed to enhance driver safety and assist in avoiding collisions. In July 2024, the EU's New Vehicle General Safety Regulation (GSR2) came into force which requires the installation of several advanced driver assistance systems (ADAS) in order to update the minimum performance standards for motor vehicles. These required systems include intelligent speed assist (ISA), autonomous emergency braking (AEB), driver drowsiness and attention warning (DDAW) and emergency lane-keeping systems (ELKS). Such technologies contribute to the growth of maintenance tools market.
Do-It-Yourself (DIY) Automotive Repair Drives the Market
The growing trend of do-it-yourself (DIY) automotive repair among consumers encourages the purchase of automotive tools. Access to online tutorials and resources empowers vehicle owners to perform basic maintenance and repairs at home boosting the sales of automotive tools. DIY enthusiasts typically require tools that are easy to use, affordable and suitable for home garages. This has led to a growing demand for consumer-oriented tools such as basic hand tools, simple power tools and diagnostic scanners. To cater to the DIY market, manufacturers have introduced new tool categories such as home mechanic kits and simplified diagnostic tools. In November 2023, Gearwrench launched two new floor jacks and four new jack stands for the automotive maintenance. Gearwrench’s jack stands will be available in 2 Ton, 3 Ton, 6 Ton and 12 Ton capacities and are built with a heavy-duty all steel construction. The jack stands have an adjustable ratcheting bar that locks in place with a double lock pin, which helps to prevent accidental height adjustments during use.
High Initial Investment and Tool Costs to Hamper the Market
The substantial initial investment required for advanced automotive tools and diagnostic equipment can pose a challenge, particularly for smaller repair shops and independent mechanics. This financial hurdle could potentially hinder market growth as it may limit access to the latest technology for some businesses. As the complexity of modern vehicles is increasing especially EVs and vehicles with advanced electronic systems require advanced automotive tools which require high capital.
For more details on this report - Request for Sample
Automotive Maintenance Tools Market Key Players
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Automotive Maintenance Tools Market. The top 10 players in the Automotive Maintenance Tools Market are
1. Stanley
2. Matco Tools
3. Bosch
4. Makita Corporation
5. Ingersoll Rand
6. Stahlwille
7. Apex Tool Group
8. Hitachi
9. Einhell Service
10. Tolsen Tools
Scope of the Report:
Report Metric | Details |
---|---|
Base Year Considered |
2023 |
Forecast Period |
2024–2030 |
CAGR |
5.9% |
Market Size in 2030 |
$26 Billion |
Segments Covered |
By Product, By Vehicle Type, By Mode of Operation, By Sales Channel and By Geography.
|
Geographies Covered |
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Belgium and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand, Thailand, Malaysia and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
Key Market Players |
1. Stanley 2. Matco Tools 3. Bosch 4. Makita Corporation 5. Ingersoll Rand 6. Stahlwille 7. Apex Tool Group 8. Hitachi 9. Einhell Service 10. Tolsen Tools |
For more Automotive Market reports, please click here
LIST OF TABLES
1.Global Market Segmentation by Type Market 2023-2030 ($M)
1.1 Battery Chargers Market, Market 2023-2030 ($M) - Global Industry Research
1.2 Automotive Specialized Tools Market, Market 2023-2030 ($M) - Global Industry Research
1.3 Creepers and Creeper Casters Market, Market 2023-2030 ($M) - Global Industry Research
1.4 Drain and Drip Pans Market, Market 2023-2030 ($M) - Global Industry Research
1.5 Electric Vehicle Charging Station Market, Market 2023-2030 ($M) - Global Industry Research
1.6 Funnel Market, Market 2023-2030 ($M) - Global Industry Research
1.7 Measuring Cups/Pitcher/Scoop Market, Market 2023-2030 ($M) - Global Industry Research
2.Global Major Vendors Market 2023-2030 ($M)
2.1 GreatNeck Market 2023-2030 ($M) - Global Industry Research
2.2 Unior d.d. Market 2023-2030 ($M) - Global Industry Research
2.3 Mobletron Electronics Market 2023-2030 ($M) - Global Industry Research
2.4 R. Laurence Market 2023-2030 ($M) - Global Industry Research
2.5 JET Tools Market 2023-2030 ($M) - Global Industry Research
2.6 Sir Tools Market 2023-2030 ($M) - Global Industry Research
2.7 Matco Tools Market 2023-2030 ($M) - Global Industry Research
2.8 Lisle Corporation Market 2023-2030 ($M) - Global Industry Research
2.9 Thexton Manufacturing Company Market 2023-2030 ($M) - Global Industry Research
2.10 Mac Tools Market 2023-2030 ($M) - Global Industry Research
2.11 Stahlwille Market 2023-2030 ($M) - Global Industry Research
2.12 Aspov Hydraulicss Market 2023-2030 ($M) - Global Industry Research
3.Global Market Segmentation by Type Market 2023-2030 (Volume/Units)
3.1 Battery Chargers Market, Market 2023-2030 (Volume/Units) - Global Industry Research
3.2 Automotive Specialized Tools Market, Market 2023-2030 (Volume/Units) - Global Industry Research
3.3 Creepers and Creeper Casters Market, Market 2023-2030 (Volume/Units) - Global Industry Research
3.4 Drain and Drip Pans Market, Market 2023-2030 (Volume/Units) - Global Industry Research
3.5 Electric Vehicle Charging Station Market, Market 2023-2030 (Volume/Units) - Global Industry Research
3.6 Funnel Market, Market 2023-2030 (Volume/Units) - Global Industry Research
3.7 Measuring Cups/Pitcher/Scoop Market, Market 2023-2030 (Volume/Units) - Global Industry Research
4.Global Major Vendors Market 2023-2030 (Volume/Units)
4.1 GreatNeck Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Unior d.d. Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 Mobletron Electronics Market 2023-2030 (Volume/Units) - Global Industry Research
4.4 R. Laurence Market 2023-2030 (Volume/Units) - Global Industry Research
4.5 JET Tools Market 2023-2030 (Volume/Units) - Global Industry Research
4.6 Sir Tools Market 2023-2030 (Volume/Units) - Global Industry Research
4.7 Matco Tools Market 2023-2030 (Volume/Units) - Global Industry Research
4.8 Lisle Corporation Market 2023-2030 (Volume/Units) - Global Industry Research
4.9 Thexton Manufacturing Company Market 2023-2030 (Volume/Units) - Global Industry Research
4.10 Mac Tools Market 2023-2030 (Volume/Units) - Global Industry Research
4.11 Stahlwille Market 2023-2030 (Volume/Units) - Global Industry Research
4.12 Aspov Hydraulicss Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America Market Segmentation by Type Market 2023-2030 ($M)
5.1 Battery Chargers Market, Market 2023-2030 ($M) - Regional Industry Research
5.2 Automotive Specialized Tools Market, Market 2023-2030 ($M) - Regional Industry Research
5.3 Creepers and Creeper Casters Market, Market 2023-2030 ($M) - Regional Industry Research
5.4 Drain and Drip Pans Market, Market 2023-2030 ($M) - Regional Industry Research
5.5 Electric Vehicle Charging Station Market, Market 2023-2030 ($M) - Regional Industry Research
5.6 Funnel Market, Market 2023-2030 ($M) - Regional Industry Research
5.7 Measuring Cups/Pitcher/Scoop Market, Market 2023-2030 ($M) - Regional Industry Research
6.North America Major Vendors Market 2023-2030 ($M)
6.1 GreatNeck Market 2023-2030 ($M) - Regional Industry Research
6.2 Unior d.d. Market 2023-2030 ($M) - Regional Industry Research
6.3 Mobletron Electronics Market 2023-2030 ($M) - Regional Industry Research
6.4 R. Laurence Market 2023-2030 ($M) - Regional Industry Research
6.5 JET Tools Market 2023-2030 ($M) - Regional Industry Research
6.6 Sir Tools Market 2023-2030 ($M) - Regional Industry Research
6.7 Matco Tools Market 2023-2030 ($M) - Regional Industry Research
6.8 Lisle Corporation Market 2023-2030 ($M) - Regional Industry Research
6.9 Thexton Manufacturing Company Market 2023-2030 ($M) - Regional Industry Research
6.10 Mac Tools Market 2023-2030 ($M) - Regional Industry Research
6.11 Stahlwille Market 2023-2030 ($M) - Regional Industry Research
6.12 Aspov Hydraulicss Market 2023-2030 ($M) - Regional Industry Research
7.South America Market Segmentation by Type Market 2023-2030 ($M)
7.1 Battery Chargers Market, Market 2023-2030 ($M) - Regional Industry Research
7.2 Automotive Specialized Tools Market, Market 2023-2030 ($M) - Regional Industry Research
7.3 Creepers and Creeper Casters Market, Market 2023-2030 ($M) - Regional Industry Research
7.4 Drain and Drip Pans Market, Market 2023-2030 ($M) - Regional Industry Research
7.5 Electric Vehicle Charging Station Market, Market 2023-2030 ($M) - Regional Industry Research
7.6 Funnel Market, Market 2023-2030 ($M) - Regional Industry Research
7.7 Measuring Cups/Pitcher/Scoop Market, Market 2023-2030 ($M) - Regional Industry Research
8.South America Major Vendors Market 2023-2030 ($M)
8.1 GreatNeck Market 2023-2030 ($M) - Regional Industry Research
8.2 Unior d.d. Market 2023-2030 ($M) - Regional Industry Research
8.3 Mobletron Electronics Market 2023-2030 ($M) - Regional Industry Research
8.4 R. Laurence Market 2023-2030 ($M) - Regional Industry Research
8.5 JET Tools Market 2023-2030 ($M) - Regional Industry Research
8.6 Sir Tools Market 2023-2030 ($M) - Regional Industry Research
8.7 Matco Tools Market 2023-2030 ($M) - Regional Industry Research
8.8 Lisle Corporation Market 2023-2030 ($M) - Regional Industry Research
8.9 Thexton Manufacturing Company Market 2023-2030 ($M) - Regional Industry Research
8.10 Mac Tools Market 2023-2030 ($M) - Regional Industry Research
8.11 Stahlwille Market 2023-2030 ($M) - Regional Industry Research
8.12 Aspov Hydraulicss Market 2023-2030 ($M) - Regional Industry Research
9.Europe Market Segmentation by Type Market 2023-2030 ($M)
9.1 Battery Chargers Market, Market 2023-2030 ($M) - Regional Industry Research
9.2 Automotive Specialized Tools Market, Market 2023-2030 ($M) - Regional Industry Research
9.3 Creepers and Creeper Casters Market, Market 2023-2030 ($M) - Regional Industry Research
9.4 Drain and Drip Pans Market, Market 2023-2030 ($M) - Regional Industry Research
9.5 Electric Vehicle Charging Station Market, Market 2023-2030 ($M) - Regional Industry Research
9.6 Funnel Market, Market 2023-2030 ($M) - Regional Industry Research
9.7 Measuring Cups/Pitcher/Scoop Market, Market 2023-2030 ($M) - Regional Industry Research
10.Europe Major Vendors Market 2023-2030 ($M)
10.1 GreatNeck Market 2023-2030 ($M) - Regional Industry Research
10.2 Unior d.d. Market 2023-2030 ($M) - Regional Industry Research
10.3 Mobletron Electronics Market 2023-2030 ($M) - Regional Industry Research
10.4 R. Laurence Market 2023-2030 ($M) - Regional Industry Research
10.5 JET Tools Market 2023-2030 ($M) - Regional Industry Research
10.6 Sir Tools Market 2023-2030 ($M) - Regional Industry Research
10.7 Matco Tools Market 2023-2030 ($M) - Regional Industry Research
10.8 Lisle Corporation Market 2023-2030 ($M) - Regional Industry Research
10.9 Thexton Manufacturing Company Market 2023-2030 ($M) - Regional Industry Research
10.10 Mac Tools Market 2023-2030 ($M) - Regional Industry Research
10.11 Stahlwille Market 2023-2030 ($M) - Regional Industry Research
10.12 Aspov Hydraulicss Market 2023-2030 ($M) - Regional Industry Research
11.APAC Market Segmentation by Type Market 2023-2030 ($M)
11.1 Battery Chargers Market, Market 2023-2030 ($M) - Regional Industry Research
11.2 Automotive Specialized Tools Market, Market 2023-2030 ($M) - Regional Industry Research
11.3 Creepers and Creeper Casters Market, Market 2023-2030 ($M) - Regional Industry Research
11.4 Drain and Drip Pans Market, Market 2023-2030 ($M) - Regional Industry Research
11.5 Electric Vehicle Charging Station Market, Market 2023-2030 ($M) - Regional Industry Research
11.6 Funnel Market, Market 2023-2030 ($M) - Regional Industry Research
11.7 Measuring Cups/Pitcher/Scoop Market, Market 2023-2030 ($M) - Regional Industry Research
12.APAC Major Vendors Market 2023-2030 ($M)
12.1 GreatNeck Market 2023-2030 ($M) - Regional Industry Research
12.2 Unior d.d. Market 2023-2030 ($M) - Regional Industry Research
12.3 Mobletron Electronics Market 2023-2030 ($M) - Regional Industry Research
12.4 R. Laurence Market 2023-2030 ($M) - Regional Industry Research
12.5 JET Tools Market 2023-2030 ($M) - Regional Industry Research
12.6 Sir Tools Market 2023-2030 ($M) - Regional Industry Research
12.7 Matco Tools Market 2023-2030 ($M) - Regional Industry Research
12.8 Lisle Corporation Market 2023-2030 ($M) - Regional Industry Research
12.9 Thexton Manufacturing Company Market 2023-2030 ($M) - Regional Industry Research
12.10 Mac Tools Market 2023-2030 ($M) - Regional Industry Research
12.11 Stahlwille Market 2023-2030 ($M) - Regional Industry Research
12.12 Aspov Hydraulicss Market 2023-2030 ($M) - Regional Industry Research
13.MENA Market Segmentation by Type Market 2023-2030 ($M)
13.1 Battery Chargers Market, Market 2023-2030 ($M) - Regional Industry Research
13.2 Automotive Specialized Tools Market, Market 2023-2030 ($M) - Regional Industry Research
13.3 Creepers and Creeper Casters Market, Market 2023-2030 ($M) - Regional Industry Research
13.4 Drain and Drip Pans Market, Market 2023-2030 ($M) - Regional Industry Research
13.5 Electric Vehicle Charging Station Market, Market 2023-2030 ($M) - Regional Industry Research
13.6 Funnel Market, Market 2023-2030 ($M) - Regional Industry Research
13.7 Measuring Cups/Pitcher/Scoop Market, Market 2023-2030 ($M) - Regional Industry Research
14.MENA Major Vendors Market 2023-2030 ($M)
14.1 GreatNeck Market 2023-2030 ($M) - Regional Industry Research
14.2 Unior d.d. Market 2023-2030 ($M) - Regional Industry Research
14.3 Mobletron Electronics Market 2023-2030 ($M) - Regional Industry Research
14.4 R. Laurence Market 2023-2030 ($M) - Regional Industry Research
14.5 JET Tools Market 2023-2030 ($M) - Regional Industry Research
14.6 Sir Tools Market 2023-2030 ($M) - Regional Industry Research
14.7 Matco Tools Market 2023-2030 ($M) - Regional Industry Research
14.8 Lisle Corporation Market 2023-2030 ($M) - Regional Industry Research
14.9 Thexton Manufacturing Company Market 2023-2030 ($M) - Regional Industry Research
14.10 Mac Tools Market 2023-2030 ($M) - Regional Industry Research
14.11 Stahlwille Market 2023-2030 ($M) - Regional Industry Research
14.12 Aspov Hydraulicss Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
2.Canada Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
3.Mexico Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
4.Brazil Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
5.Argentina Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
6.Peru Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
7.Colombia Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
8.Chile Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
9.Rest of South America Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
10.UK Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
11.Germany Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
12.France Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
13.Italy Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
14.Spain Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
15.Rest of Europe Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
16.China Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
17.India Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
18.Japan Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
19.South Korea Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
20.South Africa Global Automotive Maintenance Tools Market Revenue, 2023-2030 ($M)
21.North America Global Automotive Maintenance Tools By Application
22.South America Global Automotive Maintenance Tools By Application
23.Europe Global Automotive Maintenance Tools By Application
24.APAC Global Automotive Maintenance Tools By Application
25.MENA Global Automotive Maintenance Tools By Application
The Automotive Maintenance Tools Market is projected to grow at 5.9% CAGR during the forecast period 2024-2030.
The Automotive Maintenance Tools Market size is estimated to be $17.5 billion in 2023 and is projected to reach $26 billion by 2030
The leading players in the Automotive Maintenance Tools Market are Stanley, Matco Tools, Bosch, Makita Corporation, Ingersoll Rand and others
The integration of smart and connected tools and demand for multifunctional tools are some of the major Automotive Maintenance Tools Market trends in the industry which will create growth opportunities for the market during the forecast period.
Increasing demand for maintenance and servicing, growing emphasis on vehicle safety, performance and fuel efficiency & popularity of DIY repair are the driving factors of the market.