Automotive Diagnostic Scan Tools Market is Credible to Observe a High Capitalization By 2023, Finds MRFR

Market Insights

The report by Market Research Future Reports on global automotive diagnostic scan tools market predicts the market to grow with a higher by 2023. The expansion of the market is happening owing to an increase in the number of service stations and workshops. These have eventually resulted in a surge in demand for diagnostic tools and equipment in the automotive industry. Since the majority of the vehicles have an in-built computer and other various electronic parts, the importance of diagnostic tools has gone up with the presence of scanners, testers, and analyzers. With these, the automotive diagnostic tools have become an essential part of the global automotive industry, which is taking the market toward a positive path.

In current time, electronic systems in vehicles have become advanced at a high level. In the past decades, the electronic systems had a low procedure as compared to the advanced one. Also, such procedures were done manually, which consumed much time and was also tiresome. To overcome this, the manufacturers in the automobile sector developed a standard tool to diagnose vehicles. This is when automotive diagnostic scan tools came up into the scene and got popular by its beneficial tacts.

The automotive diagnostic scan tools are used to diagnose various faults in a vehicle and run a full scan. The main advantage of these tools is that it is easy to identify the defect and repair more quickly. Automotive diagnostic scan tools are defined as a combination of software and electronic devices software; which are used as an interface with diagnostic systems in vehicles.

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Global Automotive Diagnostic Scan Tools Market Drivers & Trends

Diagnostic scan tools are grasping much importance in automobiles and are swelling owing to the change in consumer’s preference from manual to automated diagnostics systems. Thus, with the advancement in technology, there has been a transition in diagnostic scan tools as today these tools are highly efficient and sophisticated, which can analyze complex issues while performing diagnostics in the vehicle’s powertrain, body, and chassis. These tools are also primarily used in service stations for all types of automobiles ranging from light consumer vehicles to heavy consumer vehicles.

The leading factors behind the growth of the global automotive diagnostic scan tools market size are the mounting complexity in connected cars, stringent emission norms that are being introduced by the government, and rising security concerns among end-users. With that, electrification of vehicles and the increasing number of service stations are also expected to encourage the growth of the global automotive diagnostics scan tools market in the years to come.

On the flip side, other factors that are constraining the growth of the market are noted to be some complexities which are involved in the functioning of diagnostic scan tools coupled with their price tag, which eventually is not affordable to numerous consumers across the globe.

Global Automotive Diagnostic Scan Tools Market Segmentation

According to MRFR reports, the global automotive diagnostic scan system market is segmented by equipment type, vehicle type, product type, Propulsion, and region.

By the mode of equipment type, the market has been segmented into exhaust gas analyzer, paint scanner, wheel alignment, dynamometer & headlight tester.

By the mode of vehicle type, this market classifies as heavy commercial vehicles, light commercial vehicles & passenger vehicles.

By the mode of product type, the market is comprised of Diagnostic hardware & diagnostic software.

By the mode of propulsion type, the market has been segmented into ICE’s & Electric Vehicles.

Regional Outlook

Region wise, the global automotive diagnostic scan tools market has covered significant regions of North America, Europe, Asia-Pacific, and the Rest of the World.

Among them, Asia-Pacific is estimated to embrace the highest revenue throughout the forecast period owing to increased awareness towards vehicle safety, growing urbanization, and the rapidly-growing automotive after-sale-services industry. Also, increased production and sale of automobiles is expected to further boost the growth for automotive diagnostic scan system market in Asia-Pacific. Further, presence countries such as China, India, Japan, Thailand, and Indonesia where the sales of automobiles have steadily increased due to increased urbanization and growing purchase powers of consumers, has been the significant driver of this market.

Also, the mounting initiatives to increase awareness regarding vehicle emissions is expected to augment the Asia-Pacific market further. Likewise, in Europe, stringent government regulations regarding emission from old vehicles will drive the growth for automotive diagnostic scan tools market. To this, Europe is estimated to hold the second highest revenue market share and expected to continue its growth during the forecast period.

Key Players

The prominent players in the global automotive diagnostic scan tools market includes 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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Key Questions Addressed by the Report

What was the historic market size?

Which segmentation (Product/ Capacity) is driving market?

What will be the growth rate?

How are the key players in this market?

What are the strategies adopted by key players?

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

3 MARKET LANDSCAPE

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALRY

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

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