DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Automotive Diagnostic Scan Tools Market by Type (Diagnostic Equipment, Diagnostic Software, Repair & diagnostic data), Workshop Equipment, Vehicle Type (PC & CV), Application, & Geography - Global Trends and Forecast to 2021" report to their offering.
The market for automotive diagnostics scan tools is projected to increase with a CAGR of 5.9% from 2016 to 2021 to reach a market size of USD 7.42 billion due to the increase in complexity in vehicles with rising intrusion of electronics, which has resulted in demand for tools and equipment which provide quick and accurate diagnosis of a vehicle's problems.
Moreover, rising demand for automotive workshops, consumer preference for high-end technologically advanced cars and collaboration of leading automotive OEMs with domestic players are few of the major drivers in this market. Whereas, high input costs and maintaining a balance between the high cost and smart technology are the restraints for the diagnostic scan tools manufacturers.
Due to increasingly stringent government norms regarding vehicle emissions, the vehicle emission test system is one of the fastest growing markets in workshop equipment, by type. Europe is the fastest growing market for vehicle emission testing systems in the world, followed by North America. Continuous monitoring of vehicle emissions is one of the key reasons for this market to be the fastest growing market
Asia-Pacific region is estimated to grow at the highest CAGR by value over the projected period from 2016 to 2021. Growing number of independent aftermarket repair shops, increasing complexity in the vehicle electronics, and stringent emission norms are the factors fostering the growth of global automotive diagnostic scan tools market.
The global diagnostic scan tool market is dominated by a few major players such as Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive PLC (U.K), and Snap-On Inc. (U.S.), along with regional suppliers.
Companies such as AVL List GmbH (Austria) and KPIT (India) are also focusing on developing diagnostic scan tools for current hybrid automotive and future applications. OEMs such as BMW and Porsche prefer to in-house their diagnostic scan tools, in order to maintain uniformity in the quality of the product.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insight
5 Market Overview
6 Automotive Diagnostic Scan Tools Technology Analysis
7 Automotive Diagnostic Scan Tools Market, By Type
8 Automotive Diagnostic Scan Tools Market, By Workshop Equipment Type
9 Automotive Diagnostic Scan Tools Market, By Application Type
10 Automotive Diagnostic Scan Tools Market, By Region
11 Competitive Landscape
12 Company Profiles
- AVL List GmbH
- Actia SA
- Continental AG
- Delphi Automotive PLC
- Denso Corporation
- Hickok Incorporated
- Kpit Technologies
- Robert Bosch GmbH
- Snap on Incorporated
- Softing AG
For more information about this report visit http://www.researchandmarkets.com/research/jw77rf/automotive
