Automotive Diagnostic Scan Tools Market Worth $52.9 Billion by 2025 - Exclusive Report by MarketsandMarkets(TM)
CHICAGO, March 25, 2020 /PRNewswire/ -- According to the new market research report "Automotive Diagnostic Scan Tools Market by Workshop Equipment, Vehicle, Handheld Scan Tools (Scanner, Code Reader, Digital Pressure Tester, TPMS Tool, Battery Analyzer), Offering, Connectivity, and Region - Global Forecast to 2025", published by MarketsandMarkets(TM), the Automotive Diagnostic Scan Tools Market is estimated to be USD 41.0 billion in 2020 and is projected to reach a market size of USD 52.9 billion by 2025, growing at a CAGR of 5.2% during the forecast period.
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The major factors behind the growth of the global automotive diagnostic scan tools market are the growing preference of consumers for high-end cars, rising stringent emission norms and an increase in the number of automotive workshops globally.
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113 - Tables
52 - Figures
175 - Pages
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The battery analyzer segment is estimated to be the fastest-growing market in the Automotive Diagnostic Scan Tools Market during the forecast period, by handheld scan tools
The battery analyzer segment is expected to witness the fastest growth in the automotive diagnostic scan tools market. Battery analyzers have gained significant importance with the increase in vehicle electrification in automobiles. Periodic battery analysis is needed because batteries tend to have a shorter life than the components it powers. Also, the increasing demand for electric vehicles, which in turn pushing the growth of automotive batteries, is boosting the demand for battery analyzers in the market globally.
The passenger car segment is estimated to be the largest growing market in the Automotive Diagnostic Scan Tools Market during the forecast period, by vehicle type
The passenger car segment is expected to be the largest growing segment, by value, of the automotive diagnostic scan tools market during the forecast period. The increasing sales of passenger cars coupled with high demand for premium segment cars are majorly responsible for the fastest growth of the passenger car segment in the global market.
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The Wi-Fi segment is estimated to be the largest growing market in the Automotive Diagnostic Scan Tools Market during the forecast period, by connectivity type
Wi-Fi is one of the upcoming technologies in vehicle diagnostics. Wi-Fi provides a better operation range than USB and Bluetooth connectivity. Wi-Fi is used for DoIP (Diagnostics over Internet Protocol) and is expected to register significant growth over Bluetooth during the forecast period. Moreover, the presence of countries such as China, Japan, and South Korea, which are expected to adopt remote diagnostics with the help of DoIP, is further expected to drive market growth.
Asia Pacific is estimated to be the largest growing regional market for Automotive Diagnostic Scan Tools Market
The Asia Pacific region is projected to be the fastest-growing market for automotive diagnostic scan tools during the forecast period. The market growth in the region can be attributed to the rapid growth of the automotive sector in countries such as China, Japan, India, Thailand, and South Korea. Moreover, the improved lifestyle of consumers and rapid urbanization have boosted the demand for passenger vehicles as well as commercial vehicles, which, in turn, would trigger the growth of the automotive diagnostic scan tools market in the region.
The key players in the Automotive Diagnostic Scan Tools Market are Bosch (Germany), Continental (Germany), Denso (Japan), Siemens (Germany), Delphi (UK), Snap-on (US), and KPIT (India)
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