Automotive Diagnostic Scan Tools Market - Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Type, Offering, Regions

Automotive Diagnostic Scan Tools Market Overview:

Electronic systems in vehicles have developed significantly in past few years, making it simpler to recognize any damage. Electronic systems have their own procedures in the past few years, where a significant number of distinct tools were utilized to evaluate a single car. This approach was carried out manually, which was both time consuming and exhausting. To deal with this, garage equipment manufacturers created a standard tool for determining the number of automobiles. By inserting the cable into the vehicle's diagnostic connector and completing a full scan, the automotive diagnostic scan tools were then utilized to diagnose any defect in a vehicle. The main benefit of diagnostic scan tools is that they make it simple to detect the problem and repair it faster.

Because of the shift in consumer preference from manual to advanced automated diagnostics systems, diagnostic scan instruments are becoming increasingly important in automobiles. The goal of automated diagnostic scan tools is to discover and analyze problems in electronic systems in cars. As a result, it is critical for car owners to address vehicle issues. Automobile control modules can also be reprogrammed and upgraded using such technologies. Diagnostic scan tools, like every other automobile component, have evolved as a result of technological advancements. Today's diagnostic scan technologies are extremely efficient and sophisticated, capable of analyzing complicated codes and performing checks on the vehicle's engine, body, and chassis. These tools are commonly found in service stations for all types of autos, from light passenger cars to huge trucks.

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Automotive Diagnostic Scan Tools Market Dynamics:

Metal extraction, such as steel, copper, and aluminum, is not expected to be affected by the COVID-19 pandemic. Despite trade restrictions in place for the first half of 2020, China's top extractors continued to harvest raw resources. Raw material prices, such as copper, will continue to grow, in May 2021 with the price of copper reaching USD 10,000 per ton for the 1^st time in 10 years. On the other hand, the automotive diagnostic scan tools market is estimated to grow significantly in 2022, owing to increased awareness of the importance of timely vehicle repair and maintenance, as well as severe emission standards in various nations. The global automotive sector has been severely impacted by the COVID-19 outbreak. This may be seen in the supply chain disruptions of Chinese part exports, large-scale production interruptions across Europe, and assembly plant closures in the United States and other important countries, such as India and Brazil, where the automotive sector contributes significantly to GDP.

Growth Drivers

With the rise in passenger car sales, the market for automotive diagnostic scan tools is likely to develop. Passenger vehicle sales have increased in all three major auto markets: China, the United States, and Europe. Manufacturers have been pushed to produce car diagnostic scan instruments all around the world due to factors like increased demand for low-emission commuting and governments supporting vehicle inspection laws. The passenger car market is the fastest-growing category in the industry, and it is predicted to develop significantly over the projection period. According to Business Insider, the overall number of passenger cars on the road is expected to quadruple by 2040, with 2 billion cars on the road. From 64.1 million units in 2021, worldwide passenger car sales are expected to reach 72.5 million units in 2025. As an outcome, there is an increasing market for automobile diagnostic tools. The distribution of wealth within a country or region has a significant impact on the passenger car market, which acts as a good predictor of financial stability. Rapid urbanization in emerging nations has resulted in an increase in demand for personal motor vehicles, which is driving the expansion of the automotive diagnostic scan tools market.

The current trend in developed countries around the world is to buy luxury category cars with more accurate, better, and quick diagnostic instruments. The market for luxury cars has been fueled by a considerable increase in actual luxury offerings in vehicles, a movement in consumer preferences from sedans to SUVs, and rising disposable incomes. As emerging technologies are adopted in automobiles to make them more efficient and sustainable, demand for OBD solutions remains high in both personal and commercial vehicles. Connected cars and electric vehicles, for example, necessitate improved diagnostic tools for managing and regulating high-tech vehicle components. The global market for high-end cars is expected to grow from USD 327.1 billion (245 billion euros) in 2010 to USD 593.5 billion (503 billion euros) in 2020, according to Statista. The rise can be attributable to emerging markets' growing purchasing power, such as China.

Restraining Factors

On the other hand, Workshops require more advanced scan instruments to keep up with continual improvements in car computer technology, but most workshops cannot buy them all. Diagnostic scan tools have seen an overall decrease in their costs. on the other hand, newer technologies are more expensive than traditional OBD-I systems. This may lessen the desire for more inventive and cutting-edge technologies. Diagnostic scan tool producers are constantly under pressure from OEMs to lower diagnostic scan tool pricing. Many manufacturers are also unwilling to invest in R&D because of high expenses, especially in emerging markets where OEMs are still launching new models with minimal diagnostic scanning systems. Automobile diagnosis necessitates very advanced instruments and equipment in order to meet severe safety rules, which adds to the entire cost. When there are changes in legislation, the equipment must also be updated.

Lack of awareness of new technologies is one of the biggest roadblocks to the growth of the automotive diagnostic scan tools market. The technology is quite expensive, and many users may not be able to buy it. Furthermore, the difficulties required in the operation of such diagnostic scan instruments may stifle market expansion. Some OBD2 scanners are more affordable and have more generic capabilities, making them more appealing to the typical automobile owner. Advanced OBD2 scanners have far more comprehensive and detailed diagnostic capabilities, and are clearly developed with serious DIYers and professional mechanics in mind. OBD2 scanners of higher grade, on the other hand, have a far wider variety of capabilities.

Automotive Diagnostic Scan Tools Market Segment Analysis:

By Type, Automotive Diagnostic Scan Tools Market is segmented into Passenger Cars and Commercial Vehicles. Passenger Car Segment is estimated to dominate the market. Passenger cars account for a significant portion of the pollution created by vehicular emissions. The diagnostic scan tools keep an eye on the emission control system and detect any problems. When a malfunction is identified, the dashboard light illuminates, signalling 'check engine.' Previously, car problems were diagnosed by professional technicians who were ASE A6, A8, and L1 certified. DIY for minor problems has gained traction in passenger cars since the introduction of handheld diagnostic instruments. Consumers' living standards have risen in recent years as a result of fast globalisation and economic expansion in rising countries like Brazil, Mexico, and India.

By Offering, the Automotive Diagnostic Scan Tools Market is segmented into Diagnostic equipment/hardware and Diagnostic Software. Diagnostic Hardware segment is expected to hold the bigger share in the market by 2030. The increasing vehicle population in both established and emerging countries, as well as the increasing complexity of car electronics, are driving this segment's rise. Automotive diagnostic equipment/hardware tools are physical devices used to diagnose the state of various automotive hardware components. The growing complexity of automobiles has boosted the demand for automotive diagnostic equipment and hardware in auto shops, resulting in the expansion of the automotive diagnostics equipment and hardware market. Over the years, there has been a phenomenal expansion in vehicle production and sales, as well as a continuous increase in the number of automotive workshops, all of which has bolstered the global market for automotive diagnostic scan equipment. Given the country's expanding disposable income, China is a big market for premium vehicles. Almost every major automaker has made a bet on the Chinese market, which favors compact, low-cost passenger vehicles. Because car penetration is low in comparison to developed countries, a boom in demand is projected. The need for vehicle diagnostic scan equipment has risen in China as the country's automotive manufacturing levels have increased.

Automotive Diagnostic Scan Tools Market Regional Insights:

Asia Pacific has risen to prominence as a manufacturing region in recent years. Emerging economies' infrastructure upgrades and industrialization activities have opened up new paths, presenting many chances for car OEMs. Furthermore, the population's improved spending power has sparked an increase in demand for automobiles. Through joint ventures with domestic manufacturers, global OEMs such as Volkswagen and General Motors cater to this market. Asia Pacific has become a market with great development potential due to the deployment of new technologies, the establishment of more manufacturing units, and the formation of value-added supply chains between manufacturers and material providers. China is Asia Pacific's largest market, and sales and demand for premium vehicles are increasing significantly.

Due to mandated OBD standards and strong emission rules, Europe is projected to see significant market growth. Furthermore, the region's demand for diagnostics solutions is fueled by early adoption of telematics devices and technologically advanced diagnostic software with features like driver assistance.

The report aims to provide industry stakeholders with a comprehensive analysis of the Automotive Diagnostic Scan Tools market. The report includes the most dominant trends in the Automotive Diagnostic Scan Tools market and how these trends affect new business investment and market development during the forecast period. The report also helps to understand the dynamics of the Automotive Diagnostic Scan Tools market and the competitive structure of the market by examining market leaders, market followers, and regional players.

Qualitative and quantitative data provided in the Automotive Diagnostic Scan Tools Market Report will drive market-influencing factors and industry and market growth, which market segments and regions are expected to grow at a faster rate. The forecast period is designed to help you understand the critical areas of opportunity to do. The report also includes the competitive landscape of key industry players, as well as recent developments in the Automotive Diagnostic Scan Tools market. The report looks at factors like as company size, market share, market growth, sales, production, and profits of key players in the Automotive Diagnostic Scan Tools market.

The document affords Porter's Five Force Model, which facilitates designing the enterprise techniques withinside the marketplace. The Report facilitates in figuring out what number of competitors are existing, who they are, and the way their product exceptional is withinside the Global Automotive Diagnostic Scan Tools marketplace. The Report additionally analyses if the Global Automotive Diagnostic Scan Tools marketplace is straightforward for a brand-new participant to benefit a foothold withinside the marketplace, do they input or go out the marketplace often if the marketplace is ruled via way of means of some Players, etc.

The document additionally consists of a PESTEL Analysis, which aids withinside the improvement of enterprise techniques. Political variables assist in identifying how an awful lot a central authority can have an impact on the Global Automotive Diagnostic Scan Tools marketplace. Economic variables useful resource withinside the evaluation of monetary overall performance drivers which have an effect at the Global Automotive Diagnostic Scan Tools marketplace. Understanding the effect of the encircling surroundings and the have an impact on of environmental issues at the Global Automotive Diagnostic Scan Tools marketplace is aided via way of means of felony factors.

Automotive Diagnostic Scan Tools Market Scope:

Automotive Diagnostic Scan Tools Market Key Players:

• Robert Bosch GmbH (Germany)
• Siemens (Germany)
• Continental AG(Germany)
• Denso (Japan)
• Snap-on (U.S.)
• Fluke Corporation (U.S.)
• KPIT (India)
• Volkswagen AG (Germany)
• Crawford United Corporation (U.S.)
• Hickok Incorporated (U.S.)