Automotive Diagnostic Scan Tools Market to Observe Strong Development by 2024

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automobiles

Summary

Automotive Diagnostic Scan Tools Market Size, Share, Development, Growth, and Demand Forecast, 2014–2024

Press Release

The global automotive diagnostic scan tools market is projected to witness notable growth during the forecast period on account of the rapidly growing vehicle industry, implementation of stringent emission norms by the government, and increasing complexity of automotive electronics, especially in connected cars.

Based on vehicle type, the automotive diagnostic scan tools market can be classified into passenger and commercial vehicles. Of the two, faster growth in the market during the forecast period is expected from passenger vehicles. This can be mainly attributed to the increasing adoption of passenger cars, globally. Besides, the growing demand for vehicle safety is supporting the market growth.

Geographically, the automotive diagnostic scan tools market is expected to witness the fastest growth in Asia-Pacific, primarily because of the rising adoption of passenger vehicles and improving per capita income in countries such as China, India, and Indonesia. Besides, growing concerns over degrading air quality and ambitious government plans such as vehicle electrification and ban on diesel vehicles to meet the air quality standards in future are supporting the market growth in the region.

The growth of the automotive diagnostic scan tools market is mainly driven by rising automobile sales, stringent emission regulations, and growing complexity of automotive electronics, especially in connected cars. With improving standard of living in many developing countries of the world, including China, India, and Indonesia, urbanization continues to rise. The growing number of urbanites is resulting in the increased demand for automobiles in these countries. Since diagnostic scan tools (for repair services) are necessary for the smooth and efficient operation of these vehicles, the demand for these tools is also on the rise, corresponding to the growth in the automobile industry.

Some of the key players operating in the global automotive diagnostic scan tools market are Denso Corporation, AVL List GmbH, Robert Bosch GmbH, ACTIA Group SA, Delphi Technologies PLC, Softing AG, Hickok Inc., General Technologies Corporation, KPIT Technologies Ltd., Snap-On Inc., and Continental AG.