DUBLIN--(BUSINESS WIRE)--The "Global Automotive Diagnostic Scan Tools Market Size, Share & Industry Trends Analysis Report By Type, By Workshop Equipment, By Connectivity, By Vehicle Type, By Offering Type, By Handheld Scan Tools, By Regional Outlook and Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive Diagnostic Scan Tools Market size is expected to reach $42.8 billion by 2027, rising at a market growth of 4.5% CAGR during the forecast period.
Electronic systems in automobiles have grown steadily more advanced in everyday life, making it simpler to detect any damage. In previous years, electronic systems had their own methods in which a variety of instruments were employed to assess a single car. This process was carried out manually, which was exhausting and time consuming. To address this issue, garage equipment manufacturers created a common method for diagnosing the number of automobiles.
After then, the automotive diagnostic scan tools were utilized to detect any defect in a car by inserting the cable through into vehicle's diagnostic connector and executing a comprehensive scan. The major benefit of diagnostic scan tools is that they make it simple to find faults and correct them more rapidly.
Automotive diagnostic scan tools are a mix of software and electrical device software that serve as an interface with car diagnostic systems. Because of the movement in customer choice from manual to advanced automation diagnostics systems, the relevance of diagnostic scan instruments in vehicles is fast expanding. Automated diagnostic scan tools have been used to detect and analyses electronic system problems in automobiles.
As a result, it is critical for automobile users to repair vehicle faults. These instruments also allow for the reprogramming and upgrading of control modules in autos. Diagnostic scan tools, like all other automobile components, have evolved with the advent of technology.
Market Growth Factors:
Rise in demand of passenger cars
The market for automotive diagnostic scan equipment is predicted to expand in tandem with the growth in passenger car sales. Passenger car sales have increased in all three major automobile markets: China, the United States, and Europe. Manufacturers have been pushed to produce automobile diagnostic scan tools all over the world as a result of factors such as rising demand for low-emission commuting and government backing for car inspection laws.
The passenger car category is the fastest growing in the automotive industry and is predicted to increase significantly throughout the forecast period. According to an estimate, the overall numbers of passenger vehicles on the road will more than quadruple by 2040, with passenger automobiles expected to reach 2 billion by that time. Global passenger car sales are expected to increase to 72.5 million units in 2025, up from 64.1 million units in year 2021.
Growing Consumer preference for premium cars
The current tendency in developed nations throughout the world is to purchase luxury category automobiles with accurate, better, and speedy diagnosis instruments. A huge increase in actual luxury goods in automobiles, a movement in customer preferences from sedans to SUVs, and rising disposable incomes has fueled global demand for luxury cars.
Marketing Restraining Factor:
The initial cost of modern diagnostic instruments is quite high
To stay up with the rapid developments in car computer technology, workshops demand increasingly advanced scan instruments, yet most workshops cannot finance them all. Diagnostic scan instruments have seen a decrease in general price levels. Newer technologies, on the other hand, are more costly than traditional OBD-I systems. This has the potential to lower demand for newer and more innovative technology. Diagnostic scan tool manufacturers are always under pressure from OEMs to reduce diagnostic scan tool equipment prices. Several manufacturers are also reluctant to participate in R&D operations owing to high expenses, especially in emerging markets where OEMs are still releasing new models with minimal diagnostic scanning systems.
Market Segments Covered in the Report:
- Professional Diagnostics
- OEMs Diagnostics and
- DIY Diagnostics
By Workshop Equipment
- Headlight Tester
- Fuel Injection Diagnostic
- Engine Analyzer
- Wheel Alignment Equipment
- Pressure Leak Detection
- Paint Scan Equipment and
- Exhaust Gas Analyzer
By Vehicle Type
- Passenger Cars and
- Commercial Vehicles
By Offering Type
- Diagnostic Equipment/Hardware
- Diagnostic Software
By Handheld Scan Tools
- Digital Pressure Tester
- TPMS Tools
- Battery Analyzer
- Code Readers
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Robert Bosch GmbH
- Siemens AG
- Continental AG
- Denso Corporation
- Horiba Ltd.
- SGS S.A.
- Snap-on, Inc.
- Fortive Corporation (Fluke Corporation)
- DG Technologies (Dearborn Group)
- Noregon Systems, Inc. (Hearst Communications, Inc.)
For more information about this report visit https://www.researchandmarkets.com/r/6ybthi
Laura Wood, Senior Press Manager
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