Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Automotive Diagnostic Scan Tools market.
Trusted Business Insights presents an updated and Latest Study on Automotive Diagnostic Scan Tools Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Automotive Diagnostic Scan Tools market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Automotive Diagnostic Scan Tools Market
Industry / Sector Trends
Automotive Diagnostic Scan Tools Market size estimated at USD 33 billion in 2018 and is expected to grow at over 5% CAGR from 2019 to 2025.
Canada Automotive Diagnostic Scan Tools Market Revenue, By Vehicle Type, 2018 & 2025 (USD Million)
The automotive diagnostic scan tools market is projected to exhibit an accelerated growth between 2019 and 2025 due to the increasing number of operational vehicles across the world. In addition, the growing trend of electrification is further enforcing the increased use of in-vehicle electronics and On-Board Diagnostics (OBD) systems in vehicles. The capabilities of an OBD in monitoring the performance of major engine components and reporting the real-time status of vehicles conditions are working in line with various government regulations, propelling the demand for diagnostic systems. Furthermore, the automotive manufacturers such as Honda and Volvo and professional diagnostic solution providers including Bosch and Continental offer a wide range of diagnostic solutions and services to cater to the after-sales automotive diagnostic industry. Moreover, the presence of giant players, such as Honda, Bosch, Daimler, and Denso, in the global automotive diagnostic scan tools market gives an edge to the overall automotive diagnostic industry and a scope to grow significantly.
Market Segmentation, Outlook & Regional Insights: Automotive Diagnostic Scan Tools Market
Automotive Diagnostic Scan Tools Market, By Offering
The diagnostic hardware held a major market share of over 47% in the automotive diagnostic scan tools market. The largest market share is attributed to the increasing use of OBDs in vehicles and high price of diagnostic tools including diagnostic scanner, tester, and analyzer. The automotive manufacturers are being obligated by governments in various nations, including the U.S. and Germany, to track vehicles to control emissions and reduce the carbon footprint. These factors are encouraging the integration of OBDs with vehicles. In addition, the majorly aftermarket automotive diagnostic tools are highly-priced; however, the professional diagnostic solution providers, such as Bosch Honda and FCA, offer DIY diagnostic solutions that are targeted to individuals.
Automotive Diagnostic Scan Tools Market, By Application
The repair and maintenance dominated the automotive diagnostic scan tools market with more than 37% share due to a huge requirement of diagnostic tools in repair applications. The growing demand for commercial vehicles is propelling the demand for repair shops, increasing the market for repair & maintenance applications. In addition, the automotive diagnostic solution providers, such as Dg Technologies, Shenzhen Fcar Technology, and Autel, offer diagnostic & reprogramming devices, diagnosis & analysis systems, and diagnostic scan tools to repair & maintain the vehicles in use.
Brazil Automotive Diagnostic Scan Tools Market Revenue, By Application, 2018 & 2025 (USD Million)
Automotive Diagnostic Scan Tools Market, By Vehicle Type
The passenger vehicles segment is expected to dominate the automotive diagnostic scan tools market over the forecast period with a CAGR of over 5% during the forecasted period. The increasing sales of luxury vehicles are increasing the number of operational passenger vehicles across the world. These vehicles are equipped with various in-vehicle electronic components, such as OBD and software, that require professional diagnostic services to repair & maintain vehicles. Therefore, the increasing number of passenger vehicles in the world is creating opportunities for the market by increasing its demand.
Argentina Automotive Diagnostic Scan Tools Industry Revenue, By Vehicle Type, 2018 & 2025 (USD Million)
Automotive Diagnostic Scan Tools Market, By Tool Type
The professional diagnostic segment is expected to dominate the automotive diagnostic scan tools market over the forecast period. The increasing demand for after-sales services, such as maintenance and repair, is majorly driving the market. To address this demand, many technology & solution providers, such as Bosch, Denso, and Continental, are offering professional automotive diagnostic solutions along with the automotive manufacturers. In addition, the technical expertise, wide product range, brand neutralization, and large distribution channels provide an edge to the technology and solution providers and help them to reach more customers.
Automotive Diagnostic Scan Tools Market, By Region
Europe dominated the automotive diagnostic scan tools market with a share of over 34% in 2018 with a CAGR of more than 3% during the forecasted period. A major share is attributed to the presence of a large addressable market, in terms of vehicle in use and prominent automotive manufacturers in the region. In addition, stringent government regulations for emission control and vehicle tracking are further enforcing manufacturers to meet the standards. Automotive manufacturers are integrating in-vehicle electronics, such as OBD, to incorporate with government regulations. These factors are also encouraging users to monitor vehicles health and be informed about vehicles real-time status.
Asia Pacific is estimated to be the fastest growing region with the highest growth rate of more than 8% during the forecast period. Stringent government regulations related to environmental safety are impacting OEMs in the region to build fuel-efficient and low-carbon emission vehicles with the help of in-vehicle electronic components and software.
Key Players, Recent Developments & Sector Viewpoints: Automotive Diagnostic Scan Tools Market
The automotive diagnostic scan tools market is highly-fragmented due to the presence of several multinational corporations, including automotive manufacturers and technology & solution providers, in various regions. Major global players, such as Bosch, Continental, Denso, and Snap on Incorporated, are dominating the market with a major market share and an extensive global presence. These companies offer a wide range of automotive diagnostic solutions for both passengers as well as commercial vehicles. In addition, these companies are investing heavily on R&D to develop more robust automotive diagnostic solutions, innovate new products, and improve their existing products in the market. For instance, in September 2018, Bosch launched a new diagnostic tester for mobile and quick ECU diagnoses.
Some of the key players operating in the automotive diagnostic scan tools market are Actia Group SA, Autel Intelligent Technology Corp., Ltd., AVL List GmbH, BMW AG, Bosch Automotive Service Solutions Inc., Continental AG, Daimler AG, Delphi Automotive PLC, Denso Corporation, DG Technologies, Fluke Corporation, General Technologies Corporation, Hickok Incorporated, Honda Motor Company, Ltd., KPIT Technologies, Launch Tech UK, Snap-on Incorporated, Softing AG, Volkswagen AG and Volvo Group.
The overall automotive diagnostic industry is being influenced by various factors such as increasing number of vehicles in use across the world, increasing production of vehicles, the transforming automotive industry, stringent government regulations for emission control, increasing customers expectations from cars, and increasing demand for commercial vehicles. These factors are encouraging automotive manufactures to continuously modify vehicles to meet customer expectations and incorporate with the regulations. In addition, the increasing number of operational vehicles in the world is increasing the demand for professional aftermarket service and solution providers. Therefore, automotive manufacturers and technology providers are catering to the automotive diagnostic industry by addressing the increasing demand.
Key Insights Covered: Exhaustive Automotive Diagnostic Scan Tools Market
1. Market size (sales, revenue and growth rate) of Automotive Diagnostic Scan Tools industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Automotive Diagnostic Scan Tools industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Automotive Diagnostic Scan Tools industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Automotive Diagnostic Scan Tools industry.
Research Methodology: Automotive Diagnostic Scan Tools Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ Automotive Diagnostic Scan Tools Market Research Report – Forecast to 2029 (Includes Business Impact of COVID-19)
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