Automotive Diagnostic Scan Tools Market By Component (Hardware and Software), Vehicle Type (Passenger Cars, LCV, and HCV) and Geography: Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026565 | Pages: 100 | Industry: Automotive and Transportation | Date: Oct 2022 | Type: Global

The market crossed US$  33.2 billion mark in 2022 and is expected to hit US$ 45.0 billion by 2030, recording a CAGR of 4.5% during the forecast period.

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Automotive Diagnostic Scan Tools Market to grow with Surging demand for Increasing Sales Of Passenger Cars

With the rise in sales of passenger vehicles, the market for automotive diagnostic scan equipment is anticipated to expand. Sales of passenger cars have soared, with increases seen in China, the US, and Europe, the world's top three auto markets. Manufacturers have been forced to offer car diagnostic scan instruments all around the world due to factors like the rise in demand for low emission commuting and government backing for vehicle inspection laws. The automotive market's fastest-growing segment is the passenger car market, which is anticipated to increase significantly over the coming years.

The Automotive Diagnostic Scan Tools Market is experiencing a rise in Hardware Segment

The purchase of premium segment vehicles with precise, improved, and quick diagnosis tools is increasingly popular in developed nations all over the world. The demand for luxury cars has been growing significantly around the world due to a combination of factors, including a shift in consumer preferences from sedans to SUVs and rising disposable incomes of consumers. Due to the development of modern technology in vehicles to make them more efficient and sustainable, there is a growing need for OBD solutions in both personal and commercial vehicles.

Consumer Preference for High-End Cars is One of the major factors accelerating Automotive Diagnostic Scan Tools Market growth.

The rising number of vehicles in both developed and developing nations as well as the complexity of car electronics are both factors contributing to the growth of this market sector. Automobile diagnostic tools are typically physical instruments created to assess the health of various automotive hardware components. The complexity of automobiles has raised the need for automotive diagnostic tools and equipment in auto shops, fueling the expansion of the automotive diagnostic tools and equipment market.

 

Recent strategic developments in the Automotive Diagnostic Scan Tools Market

The Automotive Diagnostic Scan Tools market has undergone several significant developments, and a few of these have been mentioned below:

  • In August 2021, Continental AG launched the Autodiagnos Drive, an innovative, remote vehicle data solution designed to deliver advanced diagnostic information that service providers, fleet managers, and repair facilities can use to maximize their data-driven services.
  • In November 2021, Denso launched the vehicle MRI Inspection tool, which is compatible with android smartphones and tablets allowing technicians to inspect vehicles and identify underperforming parts to prescribe their customers a predictive maintenance plan quickly and accurately..

 

Several players drive the Automotive Diagnostic Scan Tools market by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. ACTIA Group; Continental AG; Delphi Technologies; Denso Corporation; Horiba Ltd; KPIT Technologies Ltd; Robert Bosch GmbH; Siemens AG; Snap-on Incorporated; Softing AGare among the prominent players operating in the automotive diagnostic scan tools Market.

The target audience for the report:

  • Raw material providers
  • Automotive Diagnostic Scan Tools Manufacturers
  • Automotive Diagnostic Scan Tools service providers
  • Lawn Mowe-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policymakers
  • Venture capitalists, private equity firms, and start-up companies
  • Automotive Diagnostic Scan Tools component suppliers
  • Automotive Diagnostic Scan Tools and components distributors and sales firms
  • End users of Automotive Diagnostic Scan Tools
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the Automotive Diagnostic Scan Tools market has been segmented based on:

  • By Component:
  • Hardware
  • Software
  • By Vehicle Type :
  • Passenger Cars
  • LCV
  • HCV
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    •  ACTIA Group
    •  Continental AG
    •  Delphi Technologies
    •  Denso Corporation
    •  Horiba Ltd
    •  KPIT Technologies Ltd
    •  Robert Bosch GmbH
    •  Siemens AG
    •  Snap-on Incorporated
    •  Softing AG

The List of Companies
- ACTIA Group
- Continental AG
- Delphi Technologies
- Denso Corporation
- Horiba Ltd
- KPIT Technologies Ltd
- Robert Bosch GmbH
- Siemens AG
- Snap-on Incorporated
- Softing AG

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