Automotive Diagnostic Tools Market Analysis
The Automotive Diagnostic Tools Market will develop at a 6% CAGR in the forecast period 2022- 2030, according to the latest Market Research Future (MRFR) analysis. Automotive diagnostic scan tools, simply put, are a combination of electronic and software devices that are inter-connected with one another. These are used for identifying faults in the electric systems of cars. Such tools are used for checking and diagnosing vehicular programs.
Various factors are fuelling the global Automotive Diagnostic Tools Market growth. As per the recent MRFR market estimates, such factors include the increasing sales of cars, growing significance of after-sale services, increasing preference over traditional manual systems, rising number of workshops and service stations, the trend to integrate advanced features in the cars, growing complexity in connected cars, strict emission norms introduced by the government, and growing security concerns among end users. The additional factors adding market growth include the increasing demand for sophisticated automotive diagnostics technology from consumers and electrification of vehicles.
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On the contrary, the impact of the COVID-19 pandemic, lack of skilled manpower especially in under-developed and developing countries and high cost of advanced technology equipment may limit the global Automotive Diagnostic Tools Market growth over the forecast period.
Automotive Diagnostic Tools Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global Automotive Diagnostic Tools Market based on propulsion, product type, vehicle type, and equipment type.
By equipment type, the Automotive Diagnostic Tools Market is segmented into dynamometer and headlight tester, wheel alignment, paint scanner, and exhaust gas analyser. Of these, the exhaust gas analyser will lead the market over the forecast period.
By vehicle type, the Automotive Diagnostic Tools Market is segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Of these, passenger vehicles will dominate the market over the forecast period.
By product type, the Automotive Diagnostic Tools Market is segmented into diagnostic software and diagnostic hardware. Of these, the diagnostic software market will spearhead the market over the forecast period.
By propulsion type, the Automotive Diagnostic Tools Market is segmented into electric vehicles and ICEs. Of these, the ICEs will have the lions share in the market over the forecast period.
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Automotive Diagnostic Scan Tools Regional Analysis
By region, the global Automotive Diagnostic Tools Market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, and Rest of the World (RoW). Of these, the APAC region will remain the forerunner in the market over the forecast period. Increased awareness about vehicle safety, increasing urbanization, rapidly growing automotive after-sale-service industry, increased production and sale of automobiles, increasing sales of automobiles in Indonesia, Thailand, Japan, India, and China, consumers’ increasing purchasing power, and increasing initiatives to boost awareness about vehicle emissions are adding to the global Automotive Diagnostic Tools Market growth in the region.
In North America, the global Automotive Diagnostic Tools Market is predicted to have healthy growth over the forecast period. Growing demand for comfort and luxury vehicles, growing demand for automotive workshops, and collaboration of domestic players with top vehicle manufacturers are adding to the global Automotive Diagnostic Tools Market growth in the region.
In Europe, the global Automotive Diagnostic Tools Market is predicted to have a favorable growth over the forecast period. Stringent government regulations regarding emission of old vehicles, the presence of prominent OEMs and automakers, rising vehicle production and sales, and the rising commitment by private companies and the government to promote smart mobility solutions are adding to the global Automotive Diagnostic Tools Market growth in the region.
In RoW, the Automotive Diagnostic Tools Market is predicted to have sound growth over the forecast period.
Key Players
- Softing AG (Germany)
- Delphi Automotive PLC (Ireland)
- Denso Corporation (Japan)
- Continenetal AG (Germany)
- Robert Bosch GmBH (Germany)
- Actia SA (France)
- Kpit Technologies (India)
- AVL List GmBH (Austria)
- Hickok Incorporated (US)
- SnapOn Incorporated (US)
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