Press release
Automotive Diagnostic Tools Market 2017 – Current Trends, Opportunities & Challenges by 2025
Automotive diagnostic tools are a combination of electronic hardware and software systems, which are used to detect and rectify the faults in a vehicle. Automotive diagnostic tools have a high degree of efficiency and sophistication. They are utilized to identify flaws in a vehicle’s powertrain, body, and chassis. Automotive diagnostic tools are primarily employed in workshops and service stations. The application of the automotive diagnostic tools in the automotive industry involves using diagnostic equipment (hardware), diagnostic software, repair, and diagnostic data.
The automotive diagnostic tools market is expected to be driven by a rise in the need to rapidly identify and rectify flaws in a vehicle in order to ensure the safety of the driver. A change in consumer preference from manual to sophisticated automated diagnostics systems, which save time and effort and offer greater efficiency through the use of software systems, is likely to provide lucrative opportunities for the automotive diagnostic tools market in the near future.
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An increase in demand for tools to identify faults in parts of vehicle is expected to boost the automotive diagnostic tools market in the next few years. The electrification of vehicles and the rise in number of service stations are also anticipated to provide lucrative opportunities in the automotive diagnostic tools market during the forecast period.
However, the functioning of automotive diagnostic tools is complex and involves a number of sophisticated hardware devices and software systems. This raises the cost of tools. These minor drawbacks of the automotive diagnostic tools are expected to hamper the automotive diagnostic tools market to some extent during the forecast period.
Based on type, the automotive diagnostic tools market can be segmented into diagnostic equipment hardware, diagnostic software, repair, and diagnostic data. The diagnostic software segment is estimated to expand significantly during the forecast period. This can be primarily attributed to the rise in requirement of different types of diagnostic software for different models of vehicles that are launched every year.
In terms of equipment type, the automotive diagnostic tools market can be classified into wheel alignment tester, handheld tread depth, digital battery tester, automotive paint inspection equipment, and vehicle emission test system. The wheel alignment tester helps maintain the tire alignment in order to avoid undue tread wear due to tire misalignment. The handheld tread depth is an equipment that rapidly scans the tire tread depth of cars simply by rolling over laser sensors that are embedded in drive-over floor plates. Digital battery sensor enables the measurement of superior voltage, current, and temperature. It minimizes power consumption without compromising on accuracy during data processing. Vehicle emission test systems (VETS) are software packages that are designed to run light-duty emission cycles on chassis dynamometer systems.
In terms of geographical regions, the market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The automotive diagnostic tools market in Asia Pacific is expected to expand significantly during the forecast period. This can be primarily attributed to an increase in vehicle production in the region, strong presence of key vehicle manufacturers in countries in Asia Pacific such as China, Japan, and South Korea, and the high adoption rate for automated technologies for diagnosis and rectification of flaws in vehicle operations, in the region.
Key players operating in the automotive diagnostic tools market include Delphi Technologies, Denso Corporation, Continental AG, Robert Bosch GmbH, Hickok Inc., Dearborn Group (DG Technologies), Bosch Automotive Service Solutions Inc., General Technologies Corp., and ETAS GmbH.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
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The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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