The global diagnostic tools for EVs market is expected to rise at a sturdy growth rate of 12.8% during the forecast years as per a report by FMI. The overall market valuation of total sales of diagnostic tools for EVs in 2022 was US$ 1,437 million which is further projected to reach US$ 5,401.6 million by 2033.
The diagnostic tools for Electric Vehicles (EVs) market refers to the sector of the automotive industry focused on the development, production, and distribution of diagnostic equipment specifically designed for electric vehicles. Here are some key points about this market:
Purpose of Diagnostic Tools for EVs: Diagnostic tools for EVs are essential for diagnosing and troubleshooting electrical, electronic, and mechanical issues in electric vehicles. These tools help technicians and service professionals identify faults, perform system checks, and conduct maintenance and repairs on EV components and systems.
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Types of Diagnostic Tools:
OBD-II Scanners: On-Board Diagnostics (OBD) scanners for EVs allow users to access the vehicle’s onboard computer system to retrieve diagnostic trouble codes (DTCs), monitor sensor data, and perform system tests.
Battery Management System (BMS) Tools: BMS diagnostic tools enable users to monitor and analyze the performance and health of the EV battery pack, including cell voltages, temperatures, state of charge (SOC), and state of health (SOH).
Motor and Inverter Testers: These tools are used to diagnose faults in the electric motor and inverter systems, including motor winding resistance, phase currents, and voltage outputs.
Charging System Analyzers: Charging system diagnostic tools help identify issues with EV charging infrastructure, including charging stations, connectors, cables, and onboard charging systems.
Software and Firmware Tools: Diagnostic software and firmware tools allow users to update and calibrate EV control units, perform software resets, and access manufacturer-specific diagnostic procedures and information.
Market Growth: The diagnostic tools for EVs market has experienced significant growth alongside the increasing adoption of electric vehicles worldwide. As EV technology becomes more complex and sophisticated, the demand for specialized diagnostic equipment and software solutions continues to rise.
Key Players: Major players in the diagnostic tools for EVs market include manufacturers of diagnostic equipment, automotive diagnostic software developers, and aftermarket service providers. Companies such as Bosch Automotive Service Solutions, Snap-on Incorporated, Autel Intelligent Technology Corp., and Launch Tech Co., Ltd. are among the leading suppliers of diagnostic tools for EVs, offering a range of products and solutions tailored to electric vehicle diagnostics.
Technological Advancements: Technological advancements in diagnostic tools for EVs focus on improving compatibility, functionality, and ease of use. Innovations such as wireless connectivity, cloud-based diagnostics, augmented reality (AR) interfaces, and predictive maintenance algorithms enhance the capabilities and efficiency of EV diagnostic equipment.
Regulatory Compliance: Diagnostic tools for EVs must meet regulatory standards and specifications governing vehicle diagnostics, emissions testing, and safety requirements. Regulatory bodies such as the International Organization for Standardization (ISO), the Society of Automotive Engineers (SAE), and national authorities establish guidelines and requirements for EV diagnostic equipment and software.
Market Trends: Emerging trends in the diagnostic tools for EVs market include the integration of diagnostic software with vehicle-to-everything (V2X) communication systems, enabling remote diagnostics, over-the-air (OTA) updates, and predictive maintenance based on real-time vehicle data. Additionally, there is a growing demand for comprehensive diagnostic solutions that cover multiple EV subsystems and components, including battery, powertrain, chassis, and connectivity systems.
Overall, the diagnostic tools for EVs market plays a crucial role in supporting the maintenance, repair, and service of electric vehicles. As EV technology continues to advance and EV adoption accelerates, the demand for advanced diagnostic equipment and software solutions is expected to grow, driving innovation and opportunities in the automotive aftermarket.
Key Takeaways
- As per the market estimate figures, the United States is the leading region in providing diagnostic tools for EVs. In the year 2022, the total revenue generated by the companies of diagnostic tools for EVs operating in the country was nearly US$ 184 million.
- In Europe, Germany has remained the leading market for electric vehicles and tools and other products and services associated with EVs. Currently, the net worth of the total sales of diagnostic tools for EVs achieved by Germany is estimated to be around 8.9% of the global market.
- Interestingly, the United Kingdom has witnessed higher demand for diagnostic tools for EVs than any other country in the European Union in recent years. As per the market statistics, this country is anticipated to witness an overall annual growth rate of 12.4% during the time period between 2023 and 2033.
- China is projected to lead the manufacturing and sales of diagnostic tools for EVs in the Asia Pacific region. By the virtue of having a high manufacturing base, it is projected to develop its diagnostic tools for the EVs market at a rate of 10.1% over the next ten years.
- Japan is also a key market for the production and export of diagnostic tools for EVs, its annual growth rate in this sector would remain lower than that of China. In the previous year, the total valuation of this market in Japan was US$ 22.5 million which is further projected to reach US$ 76 million by 2033.
- Australia is emerging as a key region with demand for diagnostic tools for EVs gaining traction over the recent years. For the present year 2023, the net worth of the total diagnostic tools for EVs sales in the country is estimated to be around US$ 13 million and it would reach up to US$ 43.5 million by 2033.
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Competitive Landscape for the Diagnostic Tools for EVs Market
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, Fluke Corporation are prominent players in the global diagnostic tools for EVs market.
The global diagnostic tool for electric vehicles market looks to be fragmented and competitive, with both regional and global participants advancing at a constant rate.
Key Segments of Diagnostic Tools for EVs Market
By Offering:
- Diagnostic Hardware
- Scanner
- Code Reader
- Tester
- Analyzer
- Others
- Diagnostic Software
- ECU Diagnosis Software
- Vehicle Tracking Software
- Vehicle System Testing Software
- Others
- Diagnostic Services
- Vehicle Maintenance and Repair Services
- Custom, Training, Support, and Integration Services
- Others
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By Tool Type:
- Professional Diagnostic
- DIY Diagnostic
- OEMs Diagnostic
- Others
By Application:
- Automatic Crash Notification
- Vehicle Tracking
- Vehicle Health Alert & Roadside Assistance
- Repair & Maintenance
- Others
By Vehicle Type:
- Passenger Vehicle
- Commercial Vehicle
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and the Pacific
- Middle East and Africa (MEA)
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