Press release
Automotive DC-DC Converters Market: Championing Technological Advancements at 37.8% CAGR
Automotive DC-DC Converters Market
Subheading: The global automotive diagnostic scan tools market is projected to grow at a significant pace owing to increased vehicle complexity, emergence of wireless diagnostic scan tools, increased vehicle production, and sales.
What Is The Projected Market Size Of The Global Automotive Diagnostic Scan Tools Market And Its Growth Rate?
• The automotive diagnostic scan tools market size strengthened considerably in recent years, expanding from $40.51 billion in 2024 to $42.64 billion in 2025 at a compound annual growth rate (CAGR) of 5.3%.
• The market growth could be attributed to increased vehicle complexity, onboard diagnostics standards implementation, growing consumer awareness and demand, as well as regulatory compliance requirements.
• Robust growth is anticipated in the coming years, with the market forecast to reach $55.93 billion in 2029, growing at a CAGR of 7.0%.
• The forecasted growth can be attributed to the emergence of electric and hybrid vehicles, integration of artificial intelligence in diagnostics, increased connected cars, emphasis on predictive maintenance, and the expansion of telematics systems.
What Is Driving The Growth In The Automotive Diagnostic Scan Tools Market?
The surge in vehicle production and sales is poised to fuel the growth of the automotive diagnostic scan tools market. Automotive scan tools, which are utilized for quickly and accurately identifying problem areas in specific locations based on data extracted from sensors, microchips, and built-in-processors, are seeing increased demand as vehicle numbers rise. Repair and maintenance companies are seeking innovative diagnostics tools to increase the speed and efficiency of vehicle diagnostics activities. To illustrate, in May 2023, the European Automobile Manufacturers Association reported that global motor vehicle production reached 85.4 million units in 2022, a significant 5.7% increase from 2021. Furthermore, in February 2022, Brand Finance plc, a UK-based brand valuation company, reported that the automobile sector achieved approximately 78 million unit sales in 2022, a substantial 10% increase from 2021. Therefore, the rise in vehicle production and sales is driving the growth of the automotive diagnostic scan tool market.
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Who Are the Key Players Driving Automotive Diagnostic Scan Tools Market Growth?
• Nippon Denso Co. Ltd.
• Snap-On Inc.
• DG Technologies Inc.
• Softing AG
• Actia Group SA
• Dsa Daten-Und Systemtechnik GmbH
• Hickok Inc.
• Bosch Automotive Service Solutions Inc.
• Delphi Automotive plc
• Kpit Technologies Limited
• Launch Tech Co. LTD
• Volvo Group
• Autel Intelligent Technology Corp Ltd
• Fluke Corporation
• Honda Motor Company Ltd.
• Siemens AG
• Robert Bosch GmbH
• Continental AG
• Carman International Co. Ltd.
• Vector Informatik GmbH
• Anstalt für Verbrennungskraftmaschinen
• Bayerische Motoren Werke Aktiengesellschaft
• Daimler AG
• General Technologies Corporation
• SPX Technologies Inc.
• SGA SA corporation
• Autocom Diagnostic Partner AB
• Autologic Diagnostics Ltd.
• Bartec USA LLC
• Drew Technologies Inc.
• Texa SPA
What Are The Key Trends In The Automotive Diagnostic Scan Tools Market?
• Adoption of wireless diagnostic scan tools
• Implementation of cloud-based diagnostics solutions
• Integration of mobile apps for diagnostics
• Development of real-time remote diagnostics
• Use of blockchain technology for secure diagnostic data sharing
What Are The Segments Of The Global Automotive Diagnostic Scan Tools Market?
• By Type: On-Board Diagnostics (OBD), Electric System Analyzers, Other Types
• By Vehicle Type: Passenger Cars, Commercial Vehicles
• By Offering Type: Diagnostic Equipment/Hardware, Diagnostic Software
Which Region Leads The Automotive Diagnostic Scan Tools Market?
Asia-Pacific was the largest region in the automotive diagnostic scan tools market in 2024 and is projected to be the fastest growing region moving forward. Other regions covered in the report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Automotive Diagnostic Scan Tools Market Global Market Report?
- Market Size Analysis: Analyze the Automotive Diagnostic Scan Tools Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Diagnostic Scan Tools Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Diagnostic Scan Tools Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Diagnostic Scan Tools Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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