Automotive Diagnostic Tools Market Expected to Strike a CAGR of 5% over 2023

Posted by sagark on January 24th, 2020

Summary

Global Automotive Diagnostic Tools Market Information Report, By Product Type (Diagnostic Equipment (Hardware), Diagnostic Software, Automotive Diagnostic Scan Tools Technology and Repair & Diagnostic Data), By Equipment type (Wheel alignment tester, Digital battery tester, Vehicle emission test system and Others), By Vehicle Type (Passenger Car, Commercial Vehicles) and By Region - Forecast To 2023

Automotive Diagnostic Tools Market Synopsis

Market Research Future (MRFR)’s assessment indicates that the global automotive diagnostic Tools market has been projected to thrive at 5% CAGR during the forecast period 2017 to 2023. The increasing complexities in vehicle architecture are likely to drive the demand for diagnostic Toolss for timely and accurate detection of automotive faults.

The release of standard regulations for ensuring minimum carbon emission is poised to catalyze the growth of the automotive diagnostic Tools market in the forthcoming years. It is expected to lead the introduction of advanced automotive diagnostic technologies over the assessment period.

The increasing demand for high-end fully automatic vehicles is another major factor driving the proliferation of the automotive diagnostic Tools market over the next couple of years. Diagnostic Toolss facilitate early detection and rectification of faults before it causes much damage to vehicles. Also, the boom witnessed in the vehicle insurance industry is anticipated to reflect on the growth pattern of the automotive diagnostic Tools market. On the contrary, high input cost remains an impediment to market growth.

Competitive Dashboard

The noted players of the automotive diagnostic Tools market profiled in this MRFR report are Snap on Incorporated (U.S.), Robert Bosch GmbH (Germany), Denso Corporation (Japan), Continental AG (Germany), SPX Corp (U.S.), Softing AG (Germany), Actia SA (France), Hickok Incorporated (U.S.), AVL List GmbH (Austria) and Kpit Technologies (India).

Market Segmentation

By Product Type, the global automotive diagnostic Tools market has been segmented into diagnostic equipment (hardware), diagnostic software, automotive diagnostic scan Tools technology, and repair & diagnostic data.

By equipment type, the automotive diagnostic Tools market has been segmented into wheel alignment tester, digital battery tester, vehicle emission test system and others.

By vehicle type, the global automotive diagnostic Tools market has been segmented into passenger car and commercial vehicles.

Regional Analysis

The global automotive diagnostic Tools market, by region, has been segmented into four major regions - North America, Europe, Asia Pacific, and the Rest of the World (RoW). Asia Pacific is projected to hold its dominant position in the marketplace over the next few years. The developments and implementation of automotive technology are presumed to support the growth of the automotive diagnostic Tools market in the forthcoming years. Also, the thriving economic growth of the region is also expected to aid the proliferation of the market across the assessment period. The fast-developing countries such as China, India, and Japan are poised to propel the expansion of the regional market by contributing significantly.

Industry News

In December 2018, Midtronics Inc., a provider of battery management solutions, has announced the introduction of CPX-900 Battery & Electrical Analyzer, which is also its first one-piece handheld diagnostic Tools leveraging Conductance Profiling technology.

In November 2018, the California Air Resources Board has adopted Real Emissions Assessment Logging (REAL) as a part of amendments to the OBD (Onboard Diagnostic) Regulations. The diagnostic system consists of software designed into a vehicle’s onboard computer for the detection of emission control system malfunctions.

In November 2018, Bharat Benz, a truck brand owned by Daimler India Commercial Vehicles (DICV) initiated the use of new-age diagnostic Toolss for beefing up its after-sales network.

In September 2018, Matco Toolss, Inc., an American professional Tools distribution franchise, has announced the launch of Maximus 3.0, a full-featured diagnostic scan Tools tablet, it is the fastest, most intuitive, and strongest member of the Maximus diagnostic Tools family.

In July 2018, an industry leader in OEM diagnostic scanning, AirPro Diagnostics (APD), has announced the launch of a pocket-sized scan Tools, FieldPro mobile scanning solution, which Serves as the wireless link between the damaged vehicle and the insurance field appraiser.

Access full Report @ https://www.marketresearchfuture.com/reports/automotive-diagnostic-Tools-market-5245

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