The chassis dynamometers market is forecasted to experience a growth of 2.5% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 199.1 million in 2023.
The growth of the chassis dynamometers industry is positively influenced by the surge in the manufacturing of automotive. Chassis dynamometers are deployed in vehicles to gauge torque and also to analyze different suspension issues, emission performance, environmental performance, and overall vehicle performance.
The surging automotive manufacturing is projected to create a high demand for this equipment. Take, for example, the statistics of cars manufactured in India. In 2021, it showed manufacturing of 30.82 lakh units, in comparison to 24.33 lakh units manufactured in 2020. Therefore, the rising production of automotive is anticipated to propel market growth.
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The prominent trend of rise in the manufacturing of automotives is projected to propel the automotive chassis dynamometer industry. Moreover, portable versions of this equipment permit users to execute environmental testing in real-world conditions. Further, the equipment also acts as an affordable alternative to their complex, in-house testing units.
The OEMs are generating precise and technologically upgraded chassis dynamometers, due to which the market has been gaining momentum over the last few years. Further, favorable government policies aimed at encouraging fuel-saving automotive infrastructure are also expected to stimulate market growth.
Heightened focus on quality control during the production of vehicles is leading to increased deployment of chassis dynamometers, thus invigorating the transportation sector.
Top Highlights from the FMI’s Analysis of the Chassis Dynamometers Market:
- The United States chassis dynamometers industry is projected to occupy a 12.3% value share in the global market in 2023.
- Germany’s chassis dynamometers market is expected to account for a 5.8% market share in 2023.
- Japan’s chassis dynamometers industry is projected to acquire 5% of the market share in 2023.
- Australia’s chassis dynamometers industry has obtained a 2.4% value share in 2023.
- China’s chassis dynamometers market is predicted to expand at 2.8% CAGR over the forecast period.
- India’s chassis dynamometers industry is projected to gain a 2.9% CAGR over the estimated period.
- The United Kingdom’s chassis dynamometers market is anticipated to register a CAGR of 2.2% over the forthcoming period.
- Based on product type, the double row dynamometers section is expected to gain a market share of 63.2% in 2023.
- Based on end-user, the passenger cars segment is anticipated to acquire 43.2% in 2023.
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Developments in the Market
- In June 2020, Power Test Inc., a United States-based dynamometers and weighty equipment testing systems firm, obtained Taylor Dynamometer Inc. for an unrevealed amount. Taylor Dynamometer Inc. develops chassis, engine, and towing dynamometer test centers. Further, this acquisition is anticipated to empower Power Test to attain access to top products in the market. This deal is expected to be beneficial for Power Test’s clientele, as the company could better meet the product and service requirements across a range of industries and drive new product innovation.
- In 2018, Dyne Systems introduced a novel AC-equipped, mobile chassis dynamometer made for testing over-the-highway trucks. The portable system delivers power-absorbing and motoring incorporated into the trailer. Moreover, the portable chassis dyno permits users to commence testing in about 60 minutes while also providing convenient setup and testing at an altitude of 10,000 ft.