Global automotive diagnostic scan tools market demand is anticipated to be valued at US$ 34.7 Billion in 2022, forecast to grow at a CAGR of 7% to be valued at US$ 68.8 Billion from 2022 to 2032. Growth is attributed to increased demand for automotive diagnostic scan tools, especially across automobile OEMs.
Automotive diagnostic scan tools are a blend of electronic devices and software used to diagnose any fault in the vehicle. They may be used to reprogram control modules for vehicles and detect as well as analyze electronic system malfunction for various vehicles.
Germany, Italy, France, and Spain are considered to lead the path of adopting newer and modern Automotive Diagnostic scan tools. The demand for high-end passenger vehicles is expected to grow at a substantial rate in the coming years, with major demand from the Asia Pacific region.
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The requirement of automotive diagnostic equipment/hardware in automobile workshops has increased with an increment in the complexity of vehicles, hence leading to the growth of the automotive diagnostics equipment/hardware market, which in turn widens the sales prospect for the Automotive Diagnostic Scan Tools.
However, the product penetration among numerous consumers across the globe has been restricted by the high cost of technologically advanced automotive diagnostic scan tools. Moreover, the complex functioning of the automotive diagnostic scan tools requires highly skilled technicians, which further hampers the growth of the market to a significant extent.
Which are Some Prominent Drivers Spearheading Automotive Diagnostic Scan Tools Market Growth?
Traditionally, automotive diagnostic scan tools are utilized to feed the information through a technique as an on-board diagnostic (OBD) system to look into the errors as well as faults into various subsystems of vehicles. It supports identifying errands made in engine, transmission, battery, fuel system and plenty of different electronic systems of vehicles.
Increasing number of vehicles in operations globally is expected to be one of the primary factors driving the growth of the automotive diagnostic scan tools market, which in turn is expected to augment the demand for Automotive Diagnostic Scan Tools market over the next few years. In addition, increasing electrification of vehicles is fueling demand for diagnostic systems.
Implementation of new communication technology within the automotive diagnostic scan tool is predicted to grow demand for diagnostic scan software as well. A growing number of service station, increasing awareness about the sophisticated technology along with the other macroeconomic factors are expected to contribute in the growth of the automotive diagnostic scan tools market.
The growing demand of vehicles due to rapid urbanization especially within the developing nations is predicted to reinforce the demand for car diagnostic scanning solutions over the following couple of years. The customers are emphasizing on buying a vehicle with embedded in-vehicle diagnostic scanning solutions. Furthermore, as the awareness about such tools shall grow among the users the users, their demand will extensively enhance in such nations.
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What are the Challenges Faced by the Automotive Diagnostic Scan Tools Industry?
Although the Automotive Diagnostic Scan Tools have numerous applications, there are some obstacles which likely pose a challenge to the market growth. With constant improvements in vehicle computer technology, workshops require more sophisticated scan tools to maintain up, however most workshops cannot afford them all. Diagnostic scan tools have witnessed a decline in their overall price levels. However, newer technologies are more expensive than conventional OBD-I systems. This can reduce the demand for newer as well as innovative technologies.
Diagnostic scan tool manufacturers are under constant pressure from OEMs to curtail the costs of diagnostic test tool system. Many manufacturers also are hesitant to invest in R&D activities because of high prices, mainly in emerging countries, in which OEMs are still launching new models with primary diagnostic scanning tools. Hence, these factors are expected to hinder the market growth.
Why is Asia-Pacific Emerging as an Opportunistic market for Automotive Diagnostic Scan Tools Market?
In recent years, Asia Pacific has emerged as a hub for automobile manufacturing. Infrastructural developments as well as industrialization activities in rising economies have opened new avenues, creating several possibilities for automobile OEMs. In addition, the improved buying functionality of the population has precipitated the demand for vehicles in the region
Asia Pacific is considered to be a highly lucrative market for Automotive Diagnostic Scan Tools Market, owing to a substantial increase in the number of service stations and automotive workshops coupled with the high production of automobiles, particularly in India and China. Furthermore, the growing production of electric vehicles in the Asia Pacific region is expected to further accelerate the demand for such tools.
How is Europe Contributing to Growth of the Automotive Diagnostic Scan Tools Market?
According to the Future Market Insights, Europe is expected to show a significant growth in the market owing to mandatory OBD requirements as well as stringent emission regulations. Furthermore, early adoption of telematics devices and technologically advanced diagnostic software such as driver assistance functionalities propel the demand for diagnostics solutions in this region.
Along with the OEM vehicle health monitoring services, aftermarket vehicle health diagnostic tools are also increasingly available now. For instance, the Integrated Vehicle Management System by Honeywell and Hum by Verizon are some of the aftermarket vehicle health diagnosing tools. The safety feature is expected to drive diagnostic features, thereby, increasing the market for automotive diagnostics in Europe. Germany has the largest market share, and is one of the key contributors to the growth of the automotive diagnostic tools market in the EU region.
Market Competition
Some of the key participants present in the global Automotive Diagnostic scan tools market include nap-on Inc., ACTIA Group, ETIAS, Softing AG, GTC and V Ready, DG Technologies, Crawford United Corporation, DSA Daten- and Systemtechnik GmbH, Fluke Corporation, KPIT, AVL, Volkswagen AG, among others.
Attributed to the presence of such high number of participants, the market is highly competitive. While global players such as nap-on Inc and ETIAS account for a considerable market size, several regional level players are also operating across key growth regions, particularly in the Asia Pacific.
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Key Segments Profiled in the Automotive Diagnostic Scan Tools Industry Survey
Offering Type:
- Diagnostic Equipment/Hardware
- Diagnostic Software
Workshop Equipment:
- Exhaust Gas Analyzer
- Wheel Alignment Equipment
- Paint Scan Equipment
- Dynamometer
- Headlight Teaser
- Fuel Injection Diagnostic
- Pressure Leak Detection
- Engine Analyzer
Connectivity Type:
- USB
- WI-FI
- Bluetooth
Vehicle Type:
- Passenger Car
- Commercial Vehicles
Handheld Scan Tools;
- Scanners
- Code Readers
- TPMS Tools
- Digital Pressure Tester
- Battery Analyzer
Region;
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East & Africa
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