Automotive Diagnostic Scan Tools Market Challenges, Analysis and Forecast to 2030

An instrument used to diagnose autos is called an automotive scan tool. It involves the software and electrical hardware instruments needed to identify car problems. Defects in the car are identified, examined, and managed, and the vehicle is reprogrammed, all before any troubleshooting difficulty occurs.
Through the use of OBD software, it is used to technically give the information. A vehicle's systems can be tested for issues and malfunctions using on-board diagnostics. faults in the vehicles' fuel systems, transmissions, batteries, and various electronic parts.

The Global Automotive Diagnostic Scan Tools Market is valued at USD 34.7 billion in 2022 and is projected to reach a value of USD 68 billion in 2030 expanding at a CAGR of 7% over the forecast period of 2022-2030.

Global Automotive Diagnostic Scan Tools Market- Overview

Automotive diagnostic scan tools are defined as a blend of electronic devices and software that are used to diagnose any fault in the vehicle.

These can also be used to reprogram control modules for vehicles and detect as well as analyse the electronic system malfunction for various vehicles. Also, the requirement of automotive diagnostic equipment or hardware in automobile workshops has increased with an increment in the complexity of vehicles.

All these factors have been leading to the growth of the automotive diagnostics equipment/hardware market that in turn has boosted the sales prospect for the Automotive Diagnostic Scan Tools over the forecast period.

Key Market Trends

Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the increased demand for automotive diagnostic scan tools.

Also, rising number of vehicles in operations globally is projected to be one of the primary factors that has driven the growth of this market over the forecast period. In addition, rising electrification of vehicles has fuelled the demand for diagnostic systems over the forecast period.

On the flip side, diagnostic scan tool manufacturers are under constant pressure from OEMs to curtail the costs of diagnostic test tool system has hindered the market growth over the forecast period.

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Global Automotive Diagnostic Scan Tools Market- Segmental assessment

By product type
• Diagnostic equipment/hardware
• Diagnostic software
• Others

By vehicle type
• Passenger cars
• Commercial vehicle
• others

Based on Vehicle Type

Passenger Car
Commercial Vehicles
The passenger car segment has dominated the market growth over the forecast period.

Asia Pacific is anticipated to amplify at a considerable CAGR

The Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, Asia Pacific has dominated the market growth over the forecast period. This is because Asia Pacific has emerged as a hub for automobile manufacturing. Infrastructural developments as well as industrialization activities in rising economies have opened new avenues, creating several possibilities for automobile OEMs. In addition, the improved buying functionality of the population has precipitated the demand for vehicles in the region.

Competitive Landscape

Some of the prominent companies operating in the market are

• Denso Corp.
• Snap-On Inc.
• SPX Corp.
• Softing AG
• Actia Group SA
• Avl List GmbH
• Dg Technologies
• Dsa Daten- Und Systemtechnik GmbH

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Major questions answered in this report

• What is the growth rate of this Market?
• What are the primary growth determinants of the market?
• Which are the major regions constituting the geographical landscape of the market?
• Which are the prominent companies operating in the market?

Key takeaways from the report
• The Market is projected to expand at a CAGR of 7% over the forecast period.
• The increased demand for automotive diagnostic scan tools is aiding market progression.
• The passenger car segment is poised to expand significantly over the forecast period.
• Asia Pacific has dominated the regional market sphere over the forecast period.

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This release was published on openPR.