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Automotive Maintenance Tools Market 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. 

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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.

AttributeSegment

By Product

Hand Tools

Power Tools

Diagnostic Tools

Others

By Vehicle Type

Passenger Vehicle

Light Commercial Vehicle

Heavy Commercial Vehicle

By Mode of Operation

Manual

Electric

By Sales Channel

Online

Offline

By Geography

North America (U.S, Canada and Mexico)

Europe (Germany, France, UK, Italy, Spain, Netherlands, Belgium and Rest of Europe),

Asia-Pacific (China, Japan, South Korea, India, Australia, Indonesia, 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).

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.

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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.

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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.

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High Initial Investment and Tool Costs to Hamper the Market

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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 MetricDetails

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

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