Automotive Diagnostic Scan Tools Global Market Report 2022

June 2022
175 pages
ID: 6284367
Format: PDF
The Business Research Company

Summary

Table of Contents

Major players in the automotive diagnostic scan tools market are Denso Corp., Snap-On Inc., DG Technologies, Softing AG, Actia Group SA, Dsa Daten-Und Systemtechnik GmbH, Hickok Inc., Bosch Automotive Service Solutions Inc., Delphi Automotive PLC, Kpit Technologies, Launch Tech, Volvo Group, Autel Intelligent Technology Corp. Ltd., Fluke Corporation, Honda Motor Company Ltd., and Siemens.

The global automotive diagnostic scan tools market is expected to grow from $34.05 billion in 2021 to $36.11 billion in 2022 at a compound annual growth rate (CAGR) of 6.07%. The automotive diagnostic scan tools market is expected to grow to $44.37 billion in 2026 at a CAGR of 5.28%.

The automotive diagnostic scan tools market consists of sales of automotive diagnostic scan tools by entities (organizations, sole traders, and partnerships) that refer to a hardware device or software that reads vehicle computer system including major components such as transmission, engine, airbags, and others. These diagnostic tools access the data memory of control units and onboard electronics evaluate or analyze them.

The main types of automotive diagnostics scan tools are onboard diagnostics (OBD), electric system analyzers, and others.On-board diagnostics (OBD) is an electronic hardware device designed to read error memory and data that is recorded in-vehicle systems.

OBD readers help in establishing a connection between car and mobile app or diagnostics software. The various vehicle types that use automotive diagnostics scan tools are passenger cars and commercial vehicles that are offered in various categories, which include both diagnostic equipment/hardware and diagnostic software.

Asia Pacific was the largest region in the automotive diagnostic scan tools market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the automotive diagnostic scan tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The rise in vehicle production and sales is expected to propel the growth of the automotive diagnostic scan tools market.Automotive scan tools are used to quickly and accurately identify the problem areas in specific locations based on data extracted from sensors, microchips and built-in-processors.

As the number of vehicles increases, the demand for automotive diagnostics tools is expected to increase, as the repair and maintenance companies look out for innovative diagnostics tools to increase the speed and operations of vehicle diagnostics activities. According to the study published in the International Organization of Motor Vehicle Manufacturers, the global production of motor vehicles increased from 77.711 million in 2020 to 80.145 million in 2021 at a growth rate of 3%. Therefore, the rise in vehicle production and sales is driving the growth of the automotive diagnostic scan tools market.

Technological advancement is a key trend gaining popularity in the automotive diagnostic scan tools market.The companies operating in the automotive diagnostic scan tools market are investing in the development of innovative technologies to increase the reach of their products to at-home customers.

For instance, In July 2019, Thinkcar, an Ontario-based manufacturer of automotive diagnostic tools, launched Thinkcar OBD II Scan Tool, which connects to the mobile device through Bluetooth and assists in transferring fault codes and data from the vehicle’s on-board computer. This device has potential to carry out comprehensive test, assessing additional systems of the vehicle such as ABS, gearbox, and engine.

In October 2020, Snap-on Inc., a USA-based manufacturer and marketer of tools, equipment, diagnostics, and systems solutions for professional users in the transportation industry including the automotive industries, acquired the assets of AutoCrib Inc. for USD 36 million in cash. Through this acquisition, AutoCrib will be a part of Snap-on’s Commercial & Industrial Group. The acquisition also complements and expands Snap-on’s existing tool control offering to customers in aerospace, automotive, military, natural resources, and general industry. AutoCrib is a USA-based company involved in designing, manufacturing and marketing diagnostic scan tools and asset control solutions for automobiles.

The countries covered in the automotive diagnostic scan tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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