Pune, India -- (SBWIRE) -- 06/26/2018 -- Global Automotive Diagnostic Tool Market Information Report, By Product Type (Diagnostic Equipment (Hardware), Diagnostic Software, Automotive Diagnostic Scan Tool 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

Global Market Scenario:

The complexity of the designs and intrusion of advanced electronics is taking over the simplicity and manual operation systems in the vehicles. Along with this, the technological evolution has facilitated the innovations in the diagnostic techniques for detection of faults or malfunctioning of the electronic systems. Automotive diagnostic tools are a combination of software and electronic devices, which are used to detect and analyze the malfunctioning of any automotive system. The increased inclination towards incorporation of advanced technology in the automotive industry is causing the rapid expansion of automotive diagnostic tools market on a global level.

Market Research Future (MRFR), a firm that expertized in the automotive sector among others, has recently availed a report asserting that the global automotive diagnostic tools market is anticipated to grow at a noteworthy CAGR of ?5% during 2017-2023.

The increasing adoption of technologically advanced automotive components such as adaptive front light systems, which leads to the inclusion of multiple sensors to control these systems, has intensified the complexities in the vehicles. The demand for an evolved technique for detection and analysis of malfunctioning in such systems is acting as one of the major driving forces for the augmentation of the global automotive diagnostic tools market. The shift of automotive industries towards electric vehicles over IC engine vehicles is fuelling the demand for automotive diagnostic scan tools as the components and parameters in both the types of the vehicles vary vastly. The high efficiency and sophistication of the automotive diagnostic tools enable them not just in diagnosis but also in upgrading and reprogramming of the control modules in the automobiles; this is leading to the rise in demand for such tools among the consumers causing the augmentation of the global automotive diagnostic tools market. The factors such as increasing usage and manufacturing of high-end automobiles, stringent emission norms and increased safety concerns among the consumers are majorly driving the expansion of the global automotive diagnostic tools market. On the flip side, the high investment of capital may hamper the growth of the global automotive diagnostic tools market.

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Market Segmentation:

The global automotive diagnostic tools market has been segmented on the basis of product type, equipment type, vehicle type and region.

On the basis of the product type, automotive diagnostic tools market is segmented into diagnostic equipment (hardware), diagnostic software, automotive diagnostic scan tool technology, and repair and diagnostic data. On the basis of equipment type, it is segmented into wheel alignment tester, digital battery tester, vehicle emission test system and others. On the basis of vehicle type, the market is segmented into passenger car and commercial car. On the basis of region, it is segmented into North America, Europe, Asia-Pacific and the rest of the world.

Detailed Regional Analysis:

The global automotive diagnostic tools market has been divided geographically into four major regions of North America, Europe, Asia-Pacific and the rest of the world. The inclination of consumers towards preferring automobiles with advanced technology, stringent emission norms by government and adoption of efficient diagnostic equipment and tools are the factors that are fuelling the growth of automotive diagnostic tools market in the Asia-Pacific region, making it a fastest growing market in the world. The high demand for automation and expansion of the automotive industry is fuelling the growth of the global automotive diagnostic tools market in other regions such as North America, Europe and the rest of the world.

Competitive analysis:

The prominent players in the global automotive diagnostic tools market are Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), SPX Corp (U.S.), Softing AG (Germany), Hickok Incorporated (U.S.), Actia SA (France), Snap on Incorporated (U.S.), AVL List GmbH (Austria) and Kpit Technologies (India). Innovative initiatives undertaken by the prominent players are fuelling the competition in the global automotive diagnostic tools market. Denso Corporation has collaborated with a new Tokyo facility to expand its workforce and strengthen its R&D capabilities to expedite innovations further increasing the competition among leading players in automotive diagnostic tools market.

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