Automotive Diagnostics Market size was estimated at $32.02 billion in 2021 and is expected to reach $99.08 billion by 2031, growing at a CAGR of 16.79% during the forecast period of 2022 to 2031.
Automotive Diagnostics Market
Automotive diagnostics solutions analyze various computer systems and components of an automobile. Automotive diagnostics scan a car to check for malfunctions with components like engine, exhaust system transmission, brakes, and other essential systems. An automotive diagnostic scanner is an electronic tool used to interface with and sometimes reprogram a vehicles control modules. It also aims at enhancing the performance of the vehicle by improving any lagging issues with the ignition coils, fuel injector, airflow, and throttle system.
Automotive Diagnostics Market Growth and Trend
The significant growth in the global automotive diagnostics market can be attributed to the launch of new models of electric vehicles by various automobile companies. The growing transition towards electric cars is fueling the market growth of automotive diagnostics. Technological advancements related to remote diagnosis solutions and vehicle automation in developed and developing countries are driving the automotive diagnostic market. Automotive diagnostics solutions are replacing the traditional ways of analyzing a fault in the vehicle. Moreover, becoming comparatively popular as automotive diagnostics allows automobile manufacturers to provide remote support to clients. Additionally, automobile companies have acknowledged the importance of automotive diagnostic solutions that hold the potential to disclose even a minor glitch in the vehicles component or systems. Furthermore, another vital factor pushing the market growth is a rise in road accidents and casualties. However, the automotive diagnostic market remained immune from the Covid-19 pandemic. The remote diagnostic solutions and digital transformation aided the market in the time of the pandemic.
Automotive Diagnostics Market Segmentation
The global automotive diagnostics market is segmented on the basis of type and vehicle type. Based on the type, the automotive diagnostic market is segregated into onboard diagnostics (OBD), electric system analyzers, and scan tools. The scan tool segment holds the largest share in the market due to widespread adoption by automobile companies. However, the electric system analyzer segment is anticipated to witness the highest growth over the forecast period due to the launch of new electric vehicles in the market. By vehicle type, the market is classified into passenger cars and commercial vehicles. The passenger car segment is expected to lead the market in the years ahead due to the rising inclination toward the electric vehicle.
Automotive Diagnostics Market Country Analysis
North America is anticipated to remain the leading region over the forecast period. The regional growth can be attributed to the rising government initiative, growing concern towards rising road accidents and injuries. Moreover, escalating vehicle sales and an increasing number of insurance providers have significantly pushed the market growth. However, Asia Pacific is projected to grow at the highest CAGR value during the forecast period due to stringent government regulations for safety and compliance issues to avoid accidents.
Automotive Diagnostics Market Share and Competition
The key companies operating in the global automotive diagnostics market are Continental AG, Robert Bosch, Snap-on, Delphi Automotive, KPIT, Carman, General Technologies Corporation, and Pico Technology, among others.
Report Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2031)
• Data breakdown for every market segment (2022 – 2031)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2022 - 2031)
• On-Board Diagnostics (OBD)
• Electric System Analyzers
• Scan tools
Vehicle Type Analysis (Revenue, USD Million, 2022 - 2031)
• Passenger Cars
• Commercial Vehicles
Region Analysis (Revenue, USD Million, 2022 – 2031)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Automotive Diagnostics Market Companies
• Continental AG
• Robert Bosch
• Snap-on
• Delphi Automotive
• KPIT
• Carman
• General Technologies Corporation
• Pico Technology
Available Versions:-
• United States Automotive Diagnostics Industry Research Report
• Europe Airport Automotive Diagnostics Industry Research Report
• Asia Pacific Automotive Diagnostics Industry Research Report
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