Automotive Diagnostic Scan Tools Market is projected to reach around USD 57.1 bPosted by Manik on March 18th, 2020 AUTOMOTIVE DIAGNOSTIC SCAN TOOLS MARKET: SummaryThe Global Automotive Diagnostic Scan Tools Market is projected to reach around USD 57.1 billion by 2027 at a CAGR of around 4.9%. An automotive diagnostic scan tool is an electronic device used to interface with vehicle control modules and to diagnose faults, reprogram, and fix them. The diagnostic scan tool is highly efficient with multifunctional capabilities that can read highly complex codes while analyzing powertrain, chassis, and body diagnostics. This tool is connected to vehicle on-board computer through which the breakdown such as check engine light, shifting, hesitation, gas mileage, rough idle, emissions quality, performance, and others is diagnosed and repaired. This is extensively used for all types of vehicles ranging from the passenger car, light commercial vehicle to heavy commercial vehicle. AUTOMOTIVE DIAGNOSTIC SCAN TOOLS MARKET: Drivers & Restraint Market Driver:
Change is economic status in developing countries like India, Malaysia, and others have shifted consumer’s preference to purchase premium vehicles. Most of these vehicles have a built-in computer and various advanced electronic systems and these systems can go faulty anytime due to manufacturing defects, mechanical shock, or wear and tear. Hence, growing vehicle production and sales have increased the production of diagnostic scan tools like testers, analyzers, and scanners which help in fixing problems in vehicles. For instance, in 2018 globally around 86 million passenger cars were sold from which 30 million were SUVs also the sales of electric vehicles have increased by 74%. Thus, increasing vehicle production is expected to drive the automotive diagnostic scan tools market growth during the forecast period.
Strict regulations are imposed such as Bharat Stage Emission Standards (BSES), United Nations Framework Convention on Climate Change (UNFCCC), Clean Air Act, and others for reducing CO2 emission. With growing environmental concerns, the government of most of the countries have made vehicle On-Board Diagnostics (OBD) technology, inspection and maintenance checks compulsory. For instance, the Clean Air Act needs 33 state and local regions to conduct vehicle maintenance and inspection programs to address the issues for vehicle emissions and help in meeting the air quality standards by use of OBD technology. So, stringent regulations imposed for lowering VOC emission is anticipated to boost the market growth during the forecast period. Market Restraint:
The increased complexity with constant advancement in-vehicle computer technology, the diagnosis has become difficult as the equipment required to analyze the cause of the problem is expensive. Advanced diagnostic scan tool uses new technologies which are costly compared to conventional on-board diagnostic (OBD) system. Thus, the cost of the system increases due to the usage of expensive technologies which further increases the overall cost of the vehicle. Hence, the high cost of advanced diagnostic equipment is a restraining factor for automotive diagnostic scan tools market growth during the assessment period. Automotive Diagnostic Scan Tools market: Key segments
KEY Companies Covered
Automotive Diagnostic Scan Tools MARKET: report segmentation For the scope of the report, In-depth segmentation is offered by Forencis Research Automotive Diagnostic Scan Tools Market, by Product Type
Automotive Diagnostic Scan Tools Market, by Equipment Type
Automotive Diagnostic Scan Tools Market, by Propulsion
Automotive Diagnostic Scan Tools Market, by Vehicle Type
Automotive Diagnostic Scan Tools Market, by Region
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