Press release
The global truck diagnostic tools market is estimated to grow at a CAGR of 8.6% from 2018 to 2027, growing from USD 3.83 Billion in 2015 to USD 9.85 Billion by 2027. Movimento, Inc.,Teradyne,Scania,Bosch Automotive Service Solutions Inc.,EFICHIP,Eclipse A
Market Size & Forecast
The global truck diagnostic tools market is estimated to grow at a CAGR of 8.6% from 2018 to 2027, growing from USD 3.83 Billion in 2015 to USD 9.85 Billion by 2027. Moreover, Asia-Pacific is expected to witness lucrative growth in the next ten years followed by North America and Europe. The reason behind the growth of truck diagnostic market is the rising demand for heavy motor vehicles and their appropriate workshops in the Asia-Pacific regions.
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The global market is segmented into product type, end-user, and class type and sales channel. Moreover, product type is Nexas nl102 plus heavy duty truck scan tool, Aancel hd510 heavy duty truck scan tool, Autel Maxisys ms 908 cv heavy duty diagnostics can tool, launch x431 heavy duty truck scan tool, J pro professional heavy duty truck diagnostics can tool. In addition to this, Nexas nl102 segment captured the largest market of overall truck diagnostic market in 2016. Apart from this, Autel Maxisys is predicted to show a tremendous growth over the forecast period due to rising demand for diagnostic scanner tool.
After the economic downturn, the rising population demand for truck is rapidly growing and is also expected to show a high growth in diagnostic tool market.
Truck diagnostic scan tools are arrangement of electronic software and devices that are used as diagnostic system interface in the vehicles. Their usage in the automotive sector is increasing because of the changing consumer’s inclination towards automated diagnostic system from manual system. These are used for the purpose of analyzing and detecting any malfunction in electronic systems in vehicles. These tools also help in upgrading and reprogramming the control modules in automobile. Today’s diagnostic scan tools are very efficient and refined, which are able to analyze very complex codes while executing diagnosis in the vehicle’s body, chassis and powertrain. They are used in auto workshops and service stations for every type of automobile.
The new age vehicles are well equipped with advanced diagnostic computers and electronic components. Automobile user and mechanics benefit eminently from such diagnostic scan tools as it makes their work simpler in settling issues in vehicles. In the modern vehicles, an electronic device is connected with the automobile’s on-board computer through which the malfunction is detected and fixed.
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Market Segmentation
Components
Cables
Communication Interface
Others
Software
Diagnostics Services
Segmentation by Class Type:
Class 3
Class 4
Class 5
Class 6
Class 7
Class 8
Segmentation by Market:
OEM
Aftermarket
By Region:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis.
Growth Driver and Challenges
Global truck diagnostic market is wholly dependent on the growing use of heavy vehicle in automotive industry and along with economies in the developing nations such as Asia pacific countries such as India and China which includes the personal disposal income of consumer who expect to time saving, high quality product and innovative technology. Consumer demand for trucks and buses can also attract their buying behaviour towards truck diagnostic industry. Growing population in urban and sub urban cities is one of the key factors which are driving the market of truck diagnostics scan tool.
Moreover, increasing adoption of advanced engine and sub segments of trucks is expected to boost up the sale of truck diagnostics tool. Factor such as ease of availability, continuous improvement, attractive price; consumer choice making habit is believed to attract more customers. Major manufacturers are focusing on the size and weight of portable scan tools which can be easily taken away from one place to another.
Furthermore, scan tools come in various materials segments such as connectivity of Bluetooth and USB, different indicators, fault detector and other, which make them suitable for numerous purposes such as engine problem, customization problem such as display indicator problem, battery problem. Moreover, Diagnostic scan tool also read codes, gives life update of vehicle, shows where is the error coming from, Bi-directional functionality, ease to interface, real time push, coding function, touch screen facility and many other tools.
In contrast, high cost associated with truck diagnostic is the biggest challenge which is anticipated the limit the growth of truck diagnostic market in the near future. Further, lack of awareness regarding the benefits in rural area is also expected to restrain the growth of truck diagnostic market by 2027.
Key Players:
Cojali S.L.
Company Overview
Business Strategy
Key Product Offerings
Financial Performance
Key Performance Indicators
Risk Analysis
Recent Development
Regional Presence
Movimento, Inc.
Teradyne
Scania
Bosch Automotive Service Solutions Inc.
EFICHIP
Eclipse Automotive Technology Ltd.
Xtooltech Co, Ltd
Cummins Inc.
360OBD Electronics Co. Ltd
Other Key Players
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global truck diagnostic market is segmented as follows:
By Product Type Market Size & Y-O-Y Growth Analysis
By End-User Market Size & Y-O-Y Growth Analysis
By Application Market Size & Y-O-Y Growth Analysis
By Sales Channel Market Size & Y-O-Y Growth Analysis
By Region Market Size & Y-O-Y Growth Analysis
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
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You can edit or delete your press release The global truck diagnostic tools market is estimated to grow at a CAGR of 8.6% from 2018 to 2027, growing from USD 3.83 Billion in 2015 to USD 9.85 Billion by 2027. Movimento, Inc.,Teradyne,Scania,Bosch Automotive Service Solutions Inc.,EFICHIP,Eclipse A here
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