Automotive Diagnostic Scan Tools Market Size To Expand at a Notable CAGR Of 6% During 2018 - 2023. Automotive Diagnostic Scan Tools Market Research Report: Information by, By equipment Type (Wheel alignment tester, Vehicle emission test system & others), By product type (diagnostic equipment hardware, Diagnostic software), Vehicle Type & Region - Global Forecast till 2023
Global Automotive Diagnostic Scan Tools Market: Key Players
Players driving the global automotive diagnostic scan tools market include Delphi Automotive PLC (Ireland), Softing AG (Germany), Denso Corporation (Japan), Robert Bosch GmBH (Germany), Continenetal AG (Germany), Actia SA (France), AVL List GmBH (Austria), Kpit Technologies (India), Hickok Incorporated (US), and SnapOn Incorporated (US), among others.
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Automotive Diagnostic Scan Tools Market Highlights:
The increase in the number of service stations and workshops has resulted in surge in demand for diagnostic tools & equipment in the automotive industry. Since majority of the vehicles have an in-built computer and various electronic parts, the importance of diagnostic tools such as scanners, testers and analyzers has gone up. These electronic parts can break down anytime due to manufacturing defects or wear and tear, resulting in the breakdown of the vehicle. Thus, automotive diagnostic tools have become an indispensable part of the global automotive industry.
As most of the vehicles are electronically controlled and have sensors, chips, and controllers, rise in the production of vehicles impacts the size of the market. According to Market Research Future (MRFR), the global automotive diagnostic scan tools market is expected to accrue exponential gains by 2023. In a recently published analysis, MRFR also states that the market would register a phenomenal CAGR throughout the forecast period (2018 to 2023).
Automated diagnostics tools are quicker in identifying faults & rectifying them as compared to the earlier manually processed tools, which were time-consuming and non-reliable. Increase in preference for automated diagnostic scan tools over the traditional manual systems triggers an increase in market growth. Manufacturers of these devices are investing substantially in the development of futuristic tools.
They are increasingly coming up with multifunctional capabilities, which can read highly complex codes while performing chassis, powertrain, and body diagnosis. Rapidly rising awareness among individuals towards vehicle safety alongside, the huge advancements in the technology defines the market landscape of automotive diagnostic scan tools.
Automotive Diagnostic Scan Tools Market Segmentation:
The report is segmented into five key market dynamics to widen the scope of understanding,
By Equipment Type : Exhaust Gas Analyzer, Paint Scanner, Dynamometer & Headlight Tester, Wheel Alignment Tester, and Vehicle Emission Test System, among others.
By Product Type : Diagnostic Equipment Hardware and Diagnostic Software
By Vehicle Type : Heavy Commercial Vehicles, Light Commercial Vehicles, and Passenger Vehicles, among others.
By Propulsion : ICEs and Electric Vehicles, among others.
Scope of the Report
This study provides an overview of the global automotive diagnostic scan tools market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Automotive Diagnostic Scan Tools market by Equipment Type, Vehicle Type, Product Type, Propulsion Type, and regions.
Automotive Diagnostic Scan Tools Market Regional Analysis:
The Asia Pacific is estimated to remain the largest region in the global automotive diagnostic scan tools market throughout the forecast period. Rising automotive sales and proliferating automotive sector in the region drive the growth of the market in the region. Moreover, increasing demand for safety features, substantial technological advancements, and the early adoption of advanced technology foster the market growth in the region. Owing to increased awareness towards vehicle keep-up & safety, and the rapidly growing automotive after-sale-services industry, the region is estimated to hold the highest revenue share in the global market. The presence of major safety system manufacturers boosts regional market growth.
North American automotive diagnostic scan tools market is another lucrative market on the global platform. Factors such as the increasing production of vehicles, the presence of several noteworthy players, and well-established automotive industry in this region, foster the growth of the regional market. Augmenting demand for vehicles safety, especially for passenger cars, creates opportunities for the regional automotive diagnostic scan tools market to grow significantly.
Rest of the World
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