Automotive Diagnostic Scan Tools Market 2019 Share, Growth, Trends, Industry Size, Opportunities, Demand and Regional Forecast to 2023
Automotive Diagnostic Scan Tools Market would register a phenomenal CAGR throughout the forecast period (2018 to 2023). Global Diagnostic Scan Tools Market by equipment Type, product type, Vehicle Type & Region – Global Forecast till 2023.
Pune, India – August 20, 2019 /MarketersMedia/ —
Automotive Diagnostic Scan Tools Market would register a phenomenal CAGR throughout the forecast period (2018 to 2023). Global Diagnostic Scan Tools Market Research Report: Information, equipment Type (Wheel alignment tester, Vehicle emission test system & others), product type (diagnostic equipment hardware, Diagnostic software), Vehicle Type & Region – Global Forecast till 2023.
Global Automotive Diagnostic Scan Tools Market: Key Players
Players driving the global automotive diagnostic scan tools market include Delphi Automotive PLC (Ireland), Softing AG (Germany), Denso Corporation (Japan), Robert Bosch GmBH (Germany), Continenetal AG (Germany), Actia SA (France), AVL List GmBH (Austria), Kpit Technologies (India), Hickok Incorporated (US), and SnapOn Incorporated (US), among others.
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Global Automotive Diagnostic Scan Tools Market: Competitive Landscape
Highly competitive, the automotive diagnostic scan tools market appears fragmented due to the presence of several well-established players. To gain a competitive advantage, key players adopt strategies, such as innovation, mergers & acquisitions, and brand reinforcement. Various automotive suppliers and OEMs are focusing on the development of the diagnostic scan tools to be at the front of the competition.
Vendors strive to develop low-cost, compact systems, and improved hardware. Technology providers also offer aftersales services to end-users. Manufacturers incorporate strategic alliances with local dealers and automotive manufacturers to expand their business in the countries where stringent regulations restrict them to export these systems. Well-established players raise the entry barriers for new entrants in the market.
Automotive Diagnostic Scan Tools Market: highlights
The automotive diagnostic scan tools market is growing steadily due to the increasing demand for vehicular safety. Increasing sales of vehicles and the growing importance of after-sale services drive market growth. It is expected that the market would grow at a moderate rate over the next six years. Automotive diagnostic scan tools are used to identify faults in the electric systems of vehicles.
As most of the vehicles are electronically controlled and have sensors, chips, and controllers, rise in the production of vehicles impacts the size of the market. According to Market Research Future (MRFR), the global automotive diagnostic scan tools market is expected to accrue exponential gains by 2023. In a recently published analysis, MRFR also states that the market would register a phenomenal CAGR throughout the forecast period (2018 to 2023).
Automated diagnostics tools are quicker in identifying faults & rectifying them as compared to the earlier manually processed tools, which were time-consuming and non-reliable. Increase in preference for automated diagnostic scan tools over the traditional manual systems triggers an increase in market growth. Manufacturers of these devices are investing substantially in the development of futuristic tools.
They are increasingly coming up with multifunctional capabilities, which can read highly complex codes while performing chassis, powertrain, and body diagnosis. Rapidly rising awareness among individuals towards vehicle safety alongside, the huge advancements in the technology defines the market landscape of automotive diagnostic scan tools.
Conversely, lack of technical expertise and the high cost of these tools are some of the key restraints for the market growth. Nevertheless, increased sales and hence, the production of automobiles is expected to support the growth of the automotive diagnostic scan tools market prominence.
Automotive Diagnostic Scan Tools Market: Segmentation
The report is segmented into five key market dynamics to widen the scope of understanding,
By Equipment Type : Exhaust Gas Analyzer, Paint Scanner, Dynamometer & Headlight Tester, Wheel Alignment Tester, and Vehicle Emission Test System, among others.
By Product Type: Diagnostic Equipment Hardware and Diagnostic Software
By Vehicle Type : Heavy Commercial Vehicles, Light Commercial Vehicles, and Passenger Vehicles, among others.
By Propulsion: ICEs and Electric Vehicles, among others.
By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.
Automotive Diagnostic Scan Tools Market: Regional Analysis
The Asia Pacific is estimated to remain the largest region in the global automotive diagnostic scan tools market throughout the forecast period. Rising automotive sales and proliferating automotive sector in the region drive the growth of the market in the region. Moreover, increasing demand for safety features, substantial technological advancements, and the early adoption of advanced technology foster the market growth in the region. Owing to increased awareness towards vehicle keep-up & safety, and the rapidly growing automotive after-sale-services industry, the region is estimated to hold the highest revenue share in the global market. The presence of major safety system manufacturers boosts regional market growth.
North American automotive diagnostic scan tools market is another lucrative market on the global platform. Factors such as the increasing production of vehicles, the presence of several noteworthy players, and well-established automotive industry in this region, foster the growth of the regional market. Augmenting demand for vehicles safety, especially for passenger cars, creates opportunities for the regional automotive diagnostic scan tools market to grow significantly.
List of Tables:
Table 1 Global Automotive Diagnostic Scan Tools Market: By Region, 2018-2023
Table 2 North America: Automotive Diagnostic Scan Tools Market: By Country, 2018-2023
Table 3 Europe Automotive Diagnostic Scan Tools Market: By Country, 2018-2023
Table 4 Asia-Pacific Automotive Diagnostic Scan Tools Market: By Country, 2018-2023
Table 5 RoW Automotive Diagnostic Scan Tools Market: By Country, 2018-2023
Table 6 Global Automotive Diagnostic Scan Tools Market, By Equipment Type, By Regions, 2018-2023
Table 7 North America: Automotive Diagnostic Scan Tools Market, By Equipment Type, By
Country, 2018-2023
Table 8 Europe Automotive Diagnostic Scan Tools Market, By Equipment Type, By Country,2018-
2023
Table 9 Asia-Pacific Automotive Diagnostic Scan Tools Market By Equipment Type, By Country,
2018-2023
Table 10 Row Automotive Diagnostic Scan Tools Market By Equipment Type, By Country, 2018-
2023
Continued…
List of Figures:
FIGURE 1 Research Process Of MRFR
FIGURE 2 Top-Down & Bottom-Up Approach
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
FIGURE 6 Porter’s Five Forces Analysis
FIGURE 7 Value Chain Analysis
FIGURE 8 Global Automotive Diagnostic Scan Tools Market Share, By Equipment Type, 2017 (%)
FIGURE 9 Global Automotive Diagnostic Scan Tools Market, By Equipment Type, 2018-2023 (USD MILLION)
FIGURE 10 Global Automotive Diagnostic Scan Tools Market Share, By Vehicle Type, 2017 (%)
Continued…
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