According to a new market research report "Automotive Diagnostic Scan Tools Market by Workshop Equipment, Vehicle (Passenger & Commercial), Handheld Scan Tools (Scanner, Code Reader, Digital Pressure Tester, Battery Analyzer), Offering, EV Type, Propulsion, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the global market is estimated to be USD 37.42 billion in 2018 and is projected to reach a market size of USD 52.73 billion by 2025, growing at a CAGR of 5.02% 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 complexity in connected cars, stringent emission norms being introduced by the governments, and the rising demand from increasing automotive workshops globally.
The digital pressure tester segment is estimated to be the largest growing market in the Automotive Diagnostic Scan Tools Market during the forecast period, by handheld scan tools
The digital pressure tester segment is estimated to witness the largest growth in the Automotive Diagnostic Scan Tools Market because of the rising demand from automotive repair shops in organized as well as unorganized markets. Also, the increasing demand for commercial vehicles is boosting the demand for digital pressure tester in the market globally.
The passenger car segment is estimated to be the fastest growing market in the Automotive Diagnostic Scan Tools Market during the forecast period, by vehicle type
The passenger car segment is estimated to be the fastest growing segment, by value, of the Automotive Diagnostic Scan Tools Market during the forecast period. The large pool of consumers for the passenger car segment and high demand for premium passenger cars have contributed to the growth of the passenger car segment in the Automotive Diagnostic Scan Tools Market.
Asia Pacific is estimated to be the fastest 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 has 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.
Furthermore, the report encompasses different strategies, such as mergers and acquisitions, partnerships and collaborations, and product upgradations, adopted by major players to increase their share in the Automotive Diagnostic Scan Tools Market. Some of the major technology vendors include Denso (Japan), Bosch (Germany), Delphi (UK), Continental (Germany), Snap-on (US), KPIT (India) and Siemens (Germany).
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