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The global automotive diagnostic scan tools market size was USD 34.91 Billion in 2022 and is expected to register a revenue CAGR of 4.5%

NEW YORK, NY, UNITED STATES , May 24, 2023 /EINPresswire.com/ -- The Automotive Diagnostic Scan Tools Market worldwide reached USD 34.91 Billion in 2022 and is projected to experience a revenue CAGR of 4.5% throughout the forecast period. The advancement of automobile technology plays a significant role in driving the growth of market revenue. The increasing demand for automotive diagnostic scanners is primarily attributed to the growing number of technologically advanced cars, which offer benefits such as enhanced efficiency and quick diagnostic results.

By connecting an automotive diagnostic scanner to the vehicle's computer, users can effectively diagnose their cars and instantly view error codes along with their explanations. This allows users to gain a clear understanding of the necessary actions to take in order to fix the problem, either through code interpretation or description. Additionally, customers have the option of searching for code interpretations online or seeking assistance from knowledgeable individuals, eliminating the need to spend time deciphering lengthy manuals. This convenience factor significantly contributes to the market's revenue growth.

The rising sales of passenger vehicles are expected to further drive the growth of the market. Manufacturers are increasingly offering car diagnostic scan tools worldwide due to factors such as the growing demand for low-emission transportation and government support for vehicle inspection regulations. In 2020, the United States registered 272,402,478 personal and commercial vehicles, while Canada recorded 26.2 million road motor vehicles in 2021, indicating a 1.9% increase from the previous year. Passenger cars remain the most popular type of vehicle, accounting for 90% of the total light-duty vehicles registered in 2021, with a total of 24.1 million units. This surge in vehicle sales directly contributes to the rising demand for automotive diagnostic scan tools, thereby bolstering the market's revenue growth.

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Segments Covered in the Report

The global automotive diagnostic scan tools market can be categorized based on various factors. In terms of offering, the market includes diagnostic equipment/hardware and diagnostic software. Diagnostic equipment/hardware refers to the physical tools and devices used for automotive diagnostics, while diagnostic software encompasses the software programs and applications used for diagnostic purposes.

When considering workshop equipment, the market can be segmented into exhaust gas analyzers, wheel alignment equipment, paint scan equipment, dynamometers, headlight testers, fuel injection diagnostics, pressure leak diagnostics, and engine analyzers. These workshop equipment tools are essential for conducting thorough diagnostics and maintenance in automotive repair shops.

The market can also be analyzed based on vehicle type, distinguishing between passenger vehicles and commercial vehicles. Both segments contribute to the demand for automotive diagnostic scan tools, as diagnostics are crucial for ensuring the optimal performance and safety of vehicles in both categories.

Another aspect to consider is the handheld scan outlook, which includes scanners, code readers, TPMS (Tire Pressure Monitoring System) tools, digital pressure testers, and battery analyzers. These handheld devices provide convenience and portability, allowing users to perform diagnostics on the go.

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Strategic development:

he automotive diagnostic scan tools market is witnessing strategic developments aimed at enhancing its offerings and expanding its reach. Key players in the market are actively engaged in various strategies to gain a competitive edge and capitalize on the growing demand for advanced diagnostic solutions.

One of the key strategic developments in the market is the continuous development and improvement of diagnostic equipment and hardware. Market players are investing in research and development activities to introduce innovative and technologically advanced diagnostic tools. These tools are designed to provide accurate and efficient diagnostics, enabling users to quickly identify and address vehicle issues. The focus is on improving features such as diagnostic speed, compatibility with a wide range of vehicles, and user-friendly interfaces.

In addition to hardware advancements, diagnostic software is also a focal point of strategic development. Companies are investing in the development of sophisticated diagnostic software programs that can analyze complex vehicle data and provide comprehensive diagnostic reports. These software solutions are designed to offer intuitive user interfaces, real-time monitoring capabilities, and advanced data analytics, enabling users to make informed decisions and optimize vehicle performance.

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Competitive Landscape:

Snap-on Incorporated, ACTIA Group, SchengenVisaInfo.com, Softing Singapore, GTC Control Solutions, Inc, Dearborn Group, Crawford United Corporation, DSA Daten- und Systemtechnik GmbH, Fluke Corporation, and KPIT and KPIT logo.

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Nikhil Morankar
Reports and Data
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