![]() The scope of the report covers segmentation based on Type, Vehicle Type, and Geography.īy Type, the market is segmented into OBD, Electric System Analyzer, and Scan tool. The Automotive Diagnostic Tools market report covers details about the latest technologies, trends, and developments in the market. These tools are largely used in service stations for all types of automobiles ranging from light consumer vehicles to heavy consumer vehicles. They are highly efficient and can analyze complex codes while performing diagnostics in the vehicle’s powertrain, body, and chassis. North America and Europe are also likely to witness significant growth owing to supportive environment created by governments across the region and rising awareness about safety and security in the wake of the latest technologies like connected and autonomous cars.Īutomotive diagnostic tools are used to diagnose faults in a vehicle, and with the increasing complexity of vehicle architecture due to advanced technologies, the role of automotive diagnostic tools is increasing day by day as they quickly identify and repair the problem. However, the high cost and complexity of scan tools are likely to act as restraints to the growth of the market.Īsia-Pacific is expected to hold the largest market share during the forecast period owing to rising vehicle production and usage coupled with rising service stations and automotive workshops. Moreover, the trend of integrating innovative features into vehicles due to rising security concerns among end-users and growing complexity in connected cars is expected to further augment market growth during the forecast period. However, growing digitalization and the latest technologies encouraged initial tool designing and proposals to be carried out remotely with the tools available currently because of the shutdown of actual fabrication stations due to the social distancing norms, stringent lockdown, and travel restrictions.įavorable government policies across major economies United states and Europe mandating the utilization of OBD and growing awareness of the benefits offered by the diagnostic tools are expected to drive demand in the market. The COVID-19 pandemic initially had a negative impact on the market as continuous lockdowns and shutdowns of manufacturing units resulted in reduced vehicle usage and a decline in transportation activities, reducing diagnostic tool usage. The automotive diagnostic tools market was valued at USD 32.71 billion in 2021, and it is expected to reach USD 44.26 billion in 2027 by registering a CAGR of above 5% during the forecast period (2022-2027). ![]()
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