The global automotive diagnostics scan tool market is segmented into vehicle types such as passenger cars and commercial vehicles. Among these segments, passenger cars segment is expected to dominate the overall automotive diagnostics scan tool market. Furthermore, demand for these tools is also increasing as they take less time to diagnose the faults. These tools are widely used in every type of vehicle whether it’s a passenger car, heavy commercial vehicle or low commercial vehicle.
Growing urbanization, advancement in technology in automobile industry, rising demand for automobiles and various other factors has trigger the growth of automotive diagnostics scan tools market during forecasting period.
Global automotive diagnostics scan tools market is expected to a notable CAGR of 6.10% during the forecast period. Moreover, the global automotive diagnostics scan tools market is expected to grow with high pace during the forecasting period due to the high consumer demand for sophisticated automotive diagnostics scan tools. Additionally, continuous enhancements and research & development in automotive diagnostics scan tools are the major dynamic factor behind the expansion of automotive diagnostics scan tools.
In terms of regional platform, Asia Pacific countries such as China, India accounted for the fastest growing market of global automotive diagnostics scan tools in terms of revenue in 2017. China and India are the important contributors to the boom of automobile market due of the presence of principal passenger automobiles. Rising demand for safer vehicles, growing automobile industry and growing population in emerging economies such as China and India stimulate the market of automotive diagnostics scan tool.
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Western Europe is expected to hold the largest market for automotive diagnostics scan tools. Every year large number of new vehicles was launched stimulate the growth of automotive diagnostics scan tools market.
Apart from this, North America showcases lucrative growth over the forecast period i.e. 2017-2027 due to the growing demand for luxury, comfort vehicles and rise in vehicle production.
Rising Demand for Passenger Car
The majority of consumers for the passenger car have contributed to the growth of the passenger car segment in the automotive diagnostic scan tools market. Many luxury car manufacturers provide innovative safety options to their customer with options for customization which increase the demand for automotive diagnostics scan tools market. Now, most of the passenger cars are well-equipped with advanced analytical electronic components and computers.
Government has made certain safety norms mandatory in all the segments of automobile that make driving a safer experience for the driver as well as passengers. So it was easy for the middle class family to buy a passenger car with all the essential safety features which increases the demand of passenger cars.
India and China will be the major factors driving the growth prospects of the automotive diagnostics scan tools market as increasing production of automobile, rise in population and sale of large number of automobiles. Modern cars are coming with advanced analytical electronic components and computers which not only help mechanic but also the vehicle user to easily diagnose the problem and setting it.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global automotive diagnostics scan tools market which includes company profiling of Robert Bosch GmbH, Continental AG, Denso Corporation, Snap on Incorporated, AVL List GmbH, Kpit Technologies, Delphi Automotive PLC, So fting AG, Hickok Incorporated, Actia SA. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive diagnostics scan tools market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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