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Automotive Diagnostic Scan Tools Global Market to Reach $44.37 Billion by 2026 at a CAGR of 5.28%
Dublin, Nov. 07, 2022 (GLOBE NEWSWIRE) -- The "Automotive Diagnostic Scan Tools Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global automotive diagnostic scan tools market is expected to grow from $34.05 billion in 2021 to $36.11 billion in 2022 at a compound annual growth rate (CAGR) of 6.07%. The automotive diagnostic scan tools market is expected to grow to $44.37 billion in 2026 at a CAGR of 5.28%.
The main types of automotive diagnostics scan tools are onboard diagnostics (OBD), electric system analyzers, and others. On-board diagnostics (OBD) is an electronic hardware device designed to read error memory and data that is recorded in-vehicle systems. OBD readers help in establishing a connection between car and mobile app or diagnostics software. The various vehicle types that use automotive diagnostics scan tools are passenger cars and commercial vehicles that are offered in various categories, which include both diagnostic equipment/hardware and diagnostic software.
Asia Pacific was the largest region in the automotive diagnostic scan tools market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive diagnostic scan tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rise in vehicle production and sales is expected to propel the growth of the automotive diagnostic scan tools market. Automotive scan tools are used to quickly and accurately identify the problem areas in specific locations based on data extracted from sensors, microchips and built-in-processors.
As the number of vehicles increases, the demand for automotive diagnostics tools is expected to increase, as the repair and maintenance companies look out for innovative diagnostics tools to increase the speed and operations of vehicle diagnostics activities. According to the study published in the International Organization of Motor Vehicle Manufacturers, the global production of motor vehicles increased from 77.711 million in 2020 to 80.145 million in 2021 at a growth rate of 3%. Therefore, the rise in vehicle production and sales is driving the growth of the automotive diagnostic scan tools market.
Technological advancement is a key trend gaining popularity in the automotive diagnostic scan tools market. The companies operating in the automotive diagnostic scan tools market are investing in the development of innovative technologies to increase the reach of their products to at-home customers.
For instance, In July 2019, Thinkcar, an Ontario-based manufacturer of automotive diagnostic tools, launched Thinkcar OBD II Scan Tool, which connects to the mobile device through Bluetooth and assists in transferring fault codes and data from the vehicle's on-board computer. This device has potential to carry out comprehensive test, assessing additional systems of the vehicle such as ABS, gearbox, and engine.
Scope
Markets Covered:
1) By Type: On-Board Diagnostics (OBD); Electric System Analyzers; Other Types
2) By Vehicle Type: Passenger Cars; Commercial Vehicles
3) By Offering Type: Diagnostic Equipment/Hardware; Diagnostic Software
Key Topics Covered:
1. Executive Summary
2. Automotive Diagnostic Scan Tools Market Characteristics
3. Automotive Diagnostic Scan Tools Market Trends And Strategies
4. Impact Of COVID-19 On Automotive Diagnostic Scan Tools
5. Automotive Diagnostic Scan Tools Market Size And Growth
6. Automotive Diagnostic Scan Tools Market Segmentation
7. Automotive Diagnostic Scan Tools Market Regional And Country Analysis
8. Asia-Pacific Automotive Diagnostic Scan Tools Market
9. China Automotive Diagnostic Scan Tools Market
10. India Automotive Diagnostic Scan Tools Market
11. Japan Automotive Diagnostic Scan Tools Market
12. Australia Automotive Diagnostic Scan Tools Market
13. Indonesia Automotive Diagnostic Scan Tools Market
14. South Korea Automotive Diagnostic Scan Tools Market
15. Western Europe Automotive Diagnostic Scan Tools Market
16. UK Automotive Diagnostic Scan Tools Market
17. Germany Automotive Diagnostic Scan Tools Market
18. France Automotive Diagnostic Scan Tools Market
19. Eastern Europe Automotive Diagnostic Scan Tools Market
20. Russia Automotive Diagnostic Scan Tools Market
21. North America Automotive Diagnostic Scan Tools Market
22. USA Automotive Diagnostic Scan Tools Market
23. South America Automotive Diagnostic Scan Tools Market
24. Brazil Automotive Diagnostic Scan Tools Market
25. Middle East Automotive Diagnostic Scan Tools Market
26. Africa Automotive Diagnostic Scan Tools Market
27. Automotive Diagnostic Scan Tools Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Diagnostic Scan Tools Market
29. Automotive Diagnostic Scan Tools Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
Denso Corp.
Snap-On Inc.
DG Technologies
Softing AG
Actia Group SA
Dsa Daten-Und Systemtechnik GmbH
Hickok Inc.
Bosch Automotive Service Solutions Inc.
Delphi Automotive PLC.
Kpit Technologies
Launch Tech
Volvo Group
Autel Intelligent Technology Corp. Ltd.
Fluke Corporation
Honda Motor Company Ltd.
Siemens
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