The global automotive diagnostic tools market is anticipated to grow at a considerable CAGR of 5.6% during the forecast period. The major factor boosting the market growth includes the rising globalization of automotive industries. The automotive market is one of the biggest markets and has been growing for years which has increased the number of market players. Along with market giants, local market players are also growing, and globalizing for their expansion. For instance, Nio, Inc., an electric vehicle company, has expanded its business globally in just 8 years, since its foundation. This has increased the importance of automotive diagnostic tools as these vehicle works on different software, and with different technologies which make it hard to find and resolve vehicle issue for a technician unknown to the technology.
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This has necessitated an automotive diagnostic tools kit for every market player. Hence, the key market players operating within the automotive diagnostic tools market are adopting several strategies including collaborations, partnerships, mergers, and others to stay competitive in the market. For instance, in March 2021, ACTIA group and ARGO Tractors announced their collaboration and have begun working on implementing telematics and remote diagnostics in tractors. They have developed technological content and strategies for more sustainable and innovative agriculture. Moreover, in February 2020, Hella Gutmann Solutions (HGS) designed 2 diagnostic packages for making products more affordable for workshops. The Mega macs PC has access fully to HGS technical data, with symptom-based troubleshooting, wiring diagrams, and step-by-step repair guides for more than 40,000 vehicle models.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global Automotive Diagnostic Tools Market Report Segment
By Type
- On-Board Diagnostics (OBD)
- Electric System Analyzer
- Scan Tool
By Product type
- Diagnostic Equipment/Hardware
- Diagnostic Software
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
Global Automotive Diagnostic Tools Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automotive diagnostic tools market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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