Automotive Diagnostic Scan Tools Market by Product Type (Equipment/Hardware and Software), by Propulsion (Internal Combustion Engine (ICE) Vehicles and Electric Vehicles), and by Vehicle Type (Passenger Vehicles, and Commercial Vehicles) - Global Analysis & Forecast 2019-2030
Report ID : 256 | Published Date : Feb 2020 | Pages : 160 | Region : Global | Report Code : AT-8
Automotive Diagnostic Scan Tools Market Introduction & Overview
The automotive industry is one of the fastest-growing and developing industries attracting enormous funds from investors. An automotive scan tool is an electronic tool used to scan and diagnose and/or reprogram vehicle control modules if required. Scan tools do not technically fix anything or directly diagnose but help to find problems with the vehicle. They provide vehicle data and trouble codes, which are stored within computer networks of vehicles. Technicians access to these codes and data aids during repair works. There are On-Board Diagnostics (OBDs) which constantly monitor engine sensors, emission control systems, and other sensors while the vehicle is being driven to ensure that they work reliably. As vehicles become more technologically advanced, diagnostic scan tools also advance to keep up with them.
The global automotive diagnostic scan tool market is driven by factors, such as increasing vehicle sales globally. According to the International Organization of Motor Vehicle Manufacturers, in 2019, 96 million cars were sold globally. Moreover, the increasing implementation of new technologies in automotive vehicles is leading to an increase in the demand for advanced diagnostic scan tools. Moreover, it can benefit people who are buying used cars for diagnosing problems, thus propelling the demand for the automotive diagnostics scan tool. Additionally, the growing popularity of electric vehicles across the globe is leading to the need for advanced diagnostics scan tools for electric vehicles. According to the International Organization of Motor Vehicle Manufacturers, in 2018, 26 million commercial vehicles were sold globally, up from 25 million in 2017. Such factors contribute significantly toward market growth. However, the high prices of the automotive diagnostic scan tools will curb the market growth to a certain extent as the advancement in the newer technologies of these tools requires higher investment incurring an overall increase in the price.
The global automotive diagnostic scan tools market can be segmented into product type, propulsion, vehicle type, and region.
Automotive Diagnostic Scan Tools Market By Product Type
Based on product type, the market can be segmented into the equipment/hardware and software. Equipment/hardware accounted for the largest market share. This segment consists of a variety of scan tools that are used in various automotive diagnosis parts. With the rapidly increasing automotive industry, there is a high demand for automotive equipment/hardware.
Automotive Diagnostic Scan Tools Market By Propulsion
Based on propulsion, the market can be segmented into the Internal Combustion Engine (ICE) vehicles and electric vehicles. Internal Combustion Engine (ICE) vehicles accounted for the largest market share owing to the increasing sale of ICE vehicles globally.
Automotive Diagnostic Scan Tools Market By Vehicle Type
Based on vehicle type, the market can be segmented into passenger vehicles and commercial vehicles. The passenger segment will hold the largest market share during the forecast period owing to the increasing population, economic growth, and the rising disposable income of people. The costs of the passenger vehicles have become more competitive and affordable for the consumers, further leading to such a high demand for passenger vehicles.
Automotive Diagnostic Scan Tools Market By Region
Based on the region, the market can be segmented into North America, Europe, Asia-Pacific, and the Rest of the World (ROW). Asia-Pacific is expected to grow at the highest CAGR owing to factors such as rapid growth in the automotive industry in China, India, and Japan, and other countries of the region. According to the Society of Indian Automobile Manufacturers, passenger vehicles were estimated to account for 290,727 vehicles, in 2019. Moreover, developing economic conditions and rapid urbanization are contributing significantly to market expansion in this region.
Automotive Diagnostic Scan Tools Market Prominent Players
Some of the key players operating in the global automotive diagnostic scan tools market include DENSO WAVE INCORPORATED., Robert Bosch GmbH, Continental AG, Delphi Technologies, Snap-on Incorporated. ACTIA Group, Softing AG, OBDSPACE Ltd., Intelligent Technology Corp., Ltd., OBD Solutions, LLC, and others.