Automotive Diagnostic Scan Tools Market Analysis- – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

Global Automotive Diagnostic Scan Tools Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global automotive diagnostic scan tools market is estimated to garner a revenue of ~USD 70 Billion by the end of 2033 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 35 Billion in the year 2022. The growth of the market can primarily be attributed to the growing demand for automotive diagnostic scan tools amongst transport industries owing to the adoption of various measures & standards to reduce nitrogen oxide (NOX) emissions from heavy-duty vehicles (HDVs) worldwide. According to the data, ~40% to 80% of NOX emission reduction from HDVs is projected under Euro VI-equivalent standards by 2040.

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With the recent advancements in the automobile sector as well as rising research and development (R&D), the demand for automotive diagnostic scan tools is on the rise amongst mobility service providers, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global automotive diagnostic scan tools market during the forecast period. For instance, global research and development (R&D) spending in the automobile sector reached more than USD 135 billion in 2020.

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Global Automotive Diagnostic Scan Tools Market: Key Insights

Base Year	2022
Forecast Year	2023-2033
CAGR	~7%
Base Year Market Size (2022)	~ USD 35 Billion
Forecast Year Market Size (2033)	~ USD 70 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

Global Automotive Diagnostic Scan Tools Market: Growth Drivers and Challenges

Growth Drivers

Growing Number of Cars with Rising Spending Capacity of People – and a surge in the use of automotive diagnostic scan tools to quickly and accurately identify problems in a car so that car repair times can be greatly reduced, is expected to boost the automotive diagnostic scan market in the projected period. As it will help reduce labor costs with cars spending less time in the garage and off the road. It was found that there are approximately 1.4 billion cars across the globe as of 2022.
Rising Use of Handheld Car Diagnostic Tools Owing to Increasing Complexity of Vehicles – a car-diagnostic test can cost between USD 50 to 400 depending on the region.
Increasing Greenhouse Gas Emissions with the Rising Number of Vehicles – it was found that the transport sector was responsible for over 25% of greenhouse gas emissions in 2020.
Upsurge in the Sale of Commercial Vehicles Owing to The Rising Automotive Sector – in 2021, which was estimated to reach around 12 million in the United States.
Rising Adoption of USB Connectivity Among the World Population – The global adoption of USD ports raised from over 405 in 207 to 100% in 2021.

Challenges

Lack of Awareness Regarding the Usability of Automotive Tools and Technologies
High Cost of Technology Advancements

The newly developed technologies need sophisticated tools to maintain and handle, which many workshops cannot afford. Also, the new technologies are so expensive compared to conventional systems in the market. The high cost of R&D activities reduces investment opportunities decreasing the chances of a new product launch. These factors hinder the market growth during the forecast period.

Lacks the Ability to Fully Reprogram Some of the Vehicle Modules

The global automotive diagnostic scan tools market is segmented and analyzed for demand and supply by vehicle type into passenger vehicles and commercial vehicles. Amongst these segments, the passenger vehicle segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing penetration of handheld and connected diagnostic scan tools amongst automobile users along with the surge in the production of passenger vehicles worldwide. For instance, globally, over 57 million passenger cars were produced in 2021. Moreover, the increasing demand for passenger cars among consumers, and rapid globalization are boosting the growth of the market.

Global Automotive Diagnostic Scan Tools Market Regional Synopsis

The Asia Pacific region automotive diagnostic scan tools market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The presence of a strong automobile network in the region, the rising demand for diagnostic scanners and other preventive tools in the automobile sector along with the growing production of vehicles. For instance, the total production volume of vehicles in India was recorded to be about 22 million units in 2022. Additionally, the growing manufacturing plants, and addition of value-added supply chains between manufacturers and raw material providers, and increasing disposable income are expected to propel the market growth.

Market Segmentation

Our in-depth analysis of the global automotive diagnostic scan tools market includes the following segments:

By Product Type	Diagnostic Equipment/Hardware Diagnostic Software Repair & Diagnostic Data
By Equipment Type	Automotive Paint Inspection Equipment Vehicle Emission Test System Digital Battery Tester Wheel Alignment Tester Scanners Code Readers Digital Pressure Tester
By Connectivity	USB WI-FI Bluetooth
By Vehicle Type	Passenger Vehicle Commercial Vehicle

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Top Featured Companies Dominating the Global Automotive Diagnostic Scan Tools Market

Actia Group SA
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
Robert Bosch GmbH
Delphi Automotive PLC
Denso Corporation
Continental AG
Volkswagen AG
Volvo Group
Honda Motor Company
Daimler AG
Autel Intelligent Technology Corp., Ltd.

In The News

Continental AG – revealed that it uses live data feeds through its Autodiagnos Pro OBD-II Scan Tool and Automotive Diagnostic System and delivers comprehensive vehicle health reports to technicians and service shops.
Actia Group SA - announced that its Multi-Diag- diagnostic and repair tool, can help in unlocking the secure access system of recent FIAT Chrysler Automobiles (FCA) vehicles by providing a quick and guided procedure for it.

Global Economic Impact

Request Insights

Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the automotive diagnostic scan tools market?

Ans: Increasing GHG emissions as well as adoption of various measures to reduce NOX emission along with rising use of handheld diagnostic scan tools are some of the major factors anticipated to drive the growth of the market.

2) What would be the CAGR of automotive diagnostic scan tools market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the automotive diagnostic scan tools market growth?

Ans: Lack of awareness regarding the usability of automotive tools and technologies are some of the factors estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of automotive diagnostic scan tools market in future?

Ans: The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the automotive diagnostic scan tools market?

Ans: The major players in the market are Actia Group SA, Robert Bosch GmbH, Autel Intelligent Technology Corp., Ltd., Continental AG, Daimler AG, Delphi Automotive PLC, Denso Corporation, Volkswagen AG, and Volvo Group, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the automotive diagnostic scan tools market?

Ans: The market is segmented by product type, by equipment type, by connectivity, by vehicle type, and by region.

8) Which segment captures the largest market size in vehicle type segment in the automotive diagnostic scan tools market?

Ans: The passenger vehicle segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.