Rise In Vehicle Leasing Fuels Demand For Vehicle Diagnostics Market: A Key Driver Powering Vehicle Diagnostics Market Growth In 2025

The Vehicle Diagnostics Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Current Vehicle Diagnostics Market Size and Its Estimated Growth Rate?
The market size of vehicle diagnostics has seen a swift expansion in the past few years. Its size is projected to grow from $38.09 billion in 2024 to $44.26 billion in 2025, reflecting a compound annual growth rate (CAGR) of 16.2%. The factors responsible for this significant increase in the historic period include regulatory compliance, the consumer's aspiration for reliability, the pressure of costs on vehicle maintenance, the globalization of auto manufacture, an upsurge in vehicle ownership, and the management of vehicle fleets.

In the next few years, the vehicle diagnostics market is forecasted to undergo significant expansion, with its value projected to reach $79.77 billion by 2029, growing at a compound annual growth rate (CAGR) of 15.9%. The predicted development during this period can be credited to factors such as the growing complexity of vehicles, emphasis on predictive analytics, a transition towards subscription-driven services, movement towards Mobility-as-a-Service (MaaS), and a burgeoning emphasis on sustainability. The notable trends expected during this forecast period include a heightened adoption of interconnected diagnostic solutions, growth in predictive upkeep solutions, incorporation of advanced sensor technologies, a move towards software-centric diagnostics, and the advent of augmented reality (AR) diagnostics.

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How Are Emerging Segments Shaping the Vehicle Diagnostics Market Landscape?
The vehicle diagnostics market covered in this report is segmented -

1) By Product Type: OBD2 Scanner, Multi-System Auto Diagnostic Tool, OBDII Scanner Bluetooth Automotive ECU Coding Diagnostic Tool, OBD2 Car Code Reader Or scan Tool, OBD2 Adapter Check Engine Diagnostic Tool, Smartphone Diagnostic Tool, Other Products
2) By Vehicle Type: Light-Duty Vehicle, Commercial Vehicle, Heavy Commercial Vehicle
3) By Equipment Type: Exhaust Gas Analyzer, Wheel Alignment Equipment, Headlight Tester, Paint Scan Equipment, Dynamometer
4) By Application: Automatic Crash Notification, Vehicle Tracking, Vehicle Health Alert, Roadside Assistance

Subsegments:
1) By OBD2 Scanner: Standard OBD2 Scanner, Advanced OBD2 Scanner
2) By Multi-System Auto Diagnostic Tool: OEM Multi-System Diagnostic Tool, After market Multi-System Diagnostic Tool
3) By OBDII Scanner Bluetooth Automotive ECU Coding Diagnostic Tool: Wireless OBDII Scanner with Bluetooth Connectivity, ECU Coding And Reprogramming OBDII Diagnostic Tools
4) By OBD2 Car Code Reader Or Scan Tool: Basic OBD2 Code Reader, Professional OBD2 Scan Tool
5) By OBD2 Adapter Check Engine Diagnostic Tool: OBD2 Bluetooth Adapter, OBD2 USB Adapter
6) By Smartphone Diagnostic Tool: Mobile App-Based Diagnostic Tools, Smartphone OBD2 Adapter Kits
7) By Other Products: Vehicle Battery Diagnostic Tools, TPMS Diagnostic Tools, Hybrid Or Electric Vehicle Diagnostic Tools, Automotive Performance Diagnostic Tools

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Which Growth Factors Are Influencing Vehicle Diagnostics Market Expansion?
The vehicle diagnostics market's expansion is predicted to be fueled by an increase in vehicle leasing. Vehicle leasing involves a company or individual (the lessee) renting a vehicle from a leasing company or financial institution (the lessor) through a contractual agreement, typically lasting from several months to years. Enhanced access to recent models, lower maintenance costs, flexibility, and corporate tax benefits are driving the escalation in vehicle leasing. To maintain and monitor the performance of leased vehicles, vehicle diagnostics is crucial, enabling lessors to keep a check on vehicle health, spot problems, and enhance fleet management for solid and dependable functionality throughout the lease period. For instance, MotorFinanceOnline, a UK-based online news and analysis website managed by Verdict Media Limited, reported in September 2022, that during the first half of 2022, 1 in 5 (20%) new leasing customers were interested in leasing a pure battery electric vehicle (BEV), showing a tremendous 1575% rise in BEV demand compared to past years. Hence, the uptick in vehicle leasing serves as a catalyst for the growth of the vehicle diagnostics market.

Who Are the Dominant Players Across Different Vehicle Diagnostics Market Segments?
Major companies operating in the vehicle diagnostics market are DENSO Corporation, Continental AG, BorgWarner Inc., Snap-on Incorporated, ACTIA Group, AVL List GmbH, OnStar LLC, SPX Corporation, VOXX International Corporation, KPIT Technologies, Launch Tech Co. Ltd., Telemotive AG, Repairify Inc., ETAS GmbH, Magneti Marelli S.P.A., Softing AG, General Technologies Corporation, DSA Daten- und Systemtechnik GmbH, Autologic Diagnostics Ltd., Hickok Incorporated, AVL DiTEST GmbH, Vector Informatik GmbH, Vidiwave Limited, Autel Intelligent Technology Corp. Ltd., Robert Bosch GmbH

What Are the Latest Developing Trends in the Vehicle Diagnostics Market?
Leading businesses in the vehicle diagnostics industry are honing their competitive edge through the development of battery diagnostic technology such as MDX-AI. MDX-AI is a tool that measures the condition, performance, and health of the batteries used in various tests and analyses. For example, July 2024 saw Midtronics Inc., a battery management systems company based in the US, roll out the MDX-AI battery diagnostic technology specifically for use in automotive service equipment. Powered by artificial intelligence, this pioneering solution offers rapid and precise assessments of battery health and performance. Midtronics developed MDX-AI to provide instantaneous and accurate assessments of battery health, remove the need for 'Charge and Retest' decisions, and supply dependable support for essential functions in electric vehicles. In turn, this addresses the difficulties service providers often face when trying to accurately diagnose battery problems. MDX-AI empowers technicians to make speedy and accurate decisions regarding battery health, thereby boosting efficiency and productivity in vehicle maintenance. On top of that, MDX-AI has the added benefit of offering advanced features, such as precise testing of electric vehicle 12V batteries, which is essential for the reliability of safety systems.

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Which Geographic Regions Are Expected to Dominate the Vehicle Diagnostics Market in the Coming Years?
North America was the largest region in the vehicle diagnostics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vehicle diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Vehicle Diagnostics Market?
2. What is the CAGR expected in the Vehicle Diagnostics Market?
3. What Are the Key Innovations Transforming the Vehicle Diagnostics Industry?
4. Which Region Is Leading the Vehicle Diagnostics Market?

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