Automotive Diagnostic Scan Tools Market to Garner USD 46.17 Billion, Globally, by 2028 at 5.2% CAGR: Brandessence Market Research
LONDON, Sept. 29, 2022 — Global Automotive Diagnostic Scan Tools Market was accounted for USD 32.38 Billion in 2021, and is expected to reach USD 46.17 Billion by 2028, growing at a CAGR of 5.2% from 2022 to 2028.
Automotive Diagnostic Scan Tools size is going to see an increase in the coming years. The growth is on account of the growing vehicle sales and production as well as an increase in the automotive workshops and a trend of integrating various advanced features in these vehicles. The industry is looking at the options for the best professional automotive diagnostic scan tool available out there for their companies which is helping the market grow consistently in the coming years.
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Automotive Diagnostic Scan Tools Market: Competitive Analysis
The major Automotive Diagnostic Scan Tools Market Companies include Robert Bosch GmbH, Siemens, Continental AG, Denso, Snap-on. The major players in the market are trying to spread awareness as they benefit from the various regulations that have come up due to the emission policies all over the world.
Other Key Players:
- SPX Corp.
- AVL List GmbH
- Dg Technologies
- Softing AG
- Actia Group SA
- Etas GmbH
- General Technologies Corp
- Hunter Engineering
- Dsa Daten- Und Systemtechnik GmbH
- Hickok Inc.
- Bosch Automotive Service Solutions Inc.
- Delphi Automotive PLC
- Actia SA
- Hickok Incorporated
- Kpit Technologies
Automotive Diagnostic Scan Tools Market: Key Drivers
Automotive Diagnostic Scan Tools Growth is happening on account of the increase in the sales of the passenger vehicles. The passenger vehicle sales have increased and with the growth in all the major markets in the world, there is growth in the market. There are further factors like the growing demand for the low emission commuting and governments which support the vehicle inspection mandates have made the manufacturers provide the tools all over the world.
The Passenger Cars are leading the growth in the cars, and it is anticipated that the sale of the passenger cars is going to considerably increase in the coming years. There is constant advancement in the vehicle computer technology, with the workshops requiring a more advanced tool to keep up with it but most of the workshops are not able to afford them all. The diagnostic scan tools have seen a decline in their overall level of price. Though, the newer technologies are a lot more expensive than the conventional OBD-I systems. This may reduce the demand for the innovative and newer technologies. The diagnostic scan tool manufacturers are under a pressure from the OEMs for curtailing the prices of the diagnostic scan tool equipment.
The Manufacturers also hesitate to invest in the research and development activities because of the higher costs when it comes to the emerging countries where the OEMs are launching the newer models still with the basic diagnostic scanning systems. Since the automobiles must meet the stringent safety regulations stringently, the automotive diagnosis requires highly sophisticated instrument and equipment which is going to add to the overall cost.
The trend which is happening in the developed countries all over the world is more towards purchasing of the premium segment cars which has more accurate, improved as well as quick diagnostic tools. There is a major growth happening in the tangible offerings of luxury in the vehicles, shifting preferences of consumers from the Sedans to the SUVs and an increase in the disposable incomes of the consumers have propelled the demand for the luxury cars all over the world.
Automotive Diagnostic Scan Tools Market: Key Trends
Automotive Diagnostic Scan Tools industry did take a severe hit during the coronavirus pandemic as did the overall automotive sectors. However, it is expected that the market is going to see a major boost in the coming few years because of the rise in the awareness for the timely repair of vehicles and their maintenance, stringent laws on emission and more initiative taken up by the governments to boost the standards. The pandemic has been having a severe impact on the industry all over the world. This has been seen in terms of the supply chain disruptions as a part of the exports from China. The large-scale manufacturing interruptions in the European market are going to be a big factor in assessing the impact of the pandemic.
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Automotive Diagnostic Scan Tools Market: Segmentation Analysis
The Passenger Cars Segment is the biggest contributor as they are the biggest emitter of the vehicular pollution. The tools help in the detection of the faults in the emission control system. The diagnostic scan tools monitor and also detect the faults in the emission control system. There is an increase in the standard of living of the consumers in the last few years because of the economic growth and also the rapid globalization with the emerging countries seeing a continuous growth. The increase in the disposable income of the consumers has fueled the demand for the passenger cars and that is where the manufacturers are working on the passenger cars which have a focus on the customers.
The USB connectivity is one which is widely used in the cars that have the on-board computer which monitors emissions, speed, and mileage among the other data about a vehicle. This is connected to the check engine light which gets illuminated when the computer detects any problem. The USB is one of the more cost-effective and user-friendly options. The future however will see it being replaced by Bluetooth and Wi-Fi.
By Offering Type:
- Diagnostic Equipment/Hardware
- Diagnostic Software
By Workshop Equipment:
- Exhaust gas analyzer
- Wheel alignment equipment
- Paint scan equipment
- Headlight Tester
- Fuel Injection Diagnostic
- Pressure Leak Detection
- Engine Analyzer
By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
By Handheld Scan Tools:
- Code readers
- TPMS tools
- Digital pressure tester
- Battery analyzer
- OEMs Diagnostic
- Professional Diagnostics
- DIY Diagnostics
Automotive Diagnostic Scan Tools Market: Regional Analysis
Automotive Diagnostic Scan Tools Market regional analysis shows that Asia Pacific has emerged as the hub for the Automobile production, infrastructural developments and the industrialization activities in the emerging economies which have opened newer avenues as they create many opportunities for the automotive OEMs. Further, the increase in the purchase capability of the population has triggered the demand for the automobiles. The global OEMs like GM and Volkswagen cater to the market through different joint ventures with the domestic manufacturers.
There is a further implementation of newer technologies, establishment of the additional manufacturing plants and also the creation of the value-added supply chains between the material providers and manufacturers which have made the Asia Pacific a market with the higher growth potential. China is one of the biggest markets in the Asia Pacific and is going to also see a growth in the premium car segment. This is why the market is also going to see great growth in the premium car segment as well.
On Special Requirement Automotive Diagnostic Scan Tools Market Report is also available for below region:
- Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe
- South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
- Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
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