The United States automotive diagnostic scan tools market is set to experience significant growth during the forecast period of 2023-2027, as indicated by the TechSci report titled "United States Automotive Diagnostic Scan Tools Market - By Region, Competition Forecast & Opportunities, 2027." This growth is primarily driven by the increasing usage of artificial intelligence and internet of things in the day-to-day lives of consumers, which has led to a surge in demand for technologically advanced products for analyzing automotive performance.
The market is also benefiting from advancements in vehicle diagnostic tools and a rising demand for regular checkups and diagnoses of vehicles due to consumers' concerns about the environment and their vehicles. The COVID-19 pandemic has also played a significant role in boosting the demand for automotive diagnostic scan tools, as transportation and commercial vehicle usage were severely affected by the lockdown.
Furthermore, there is a growing demand for low-emission commuting, and the government is supporting vehicle inspection mandates, which is fueling the growth of the United States automotive diagnostic scan tools market through 2027. The government's investment and favorable schemes have played a vital role in market growth, with the US government emphasizing the status of passenger and commercial vehicles further substantiating the growth of the United States automotive diagnostic scan tools market in the forecast period.
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The United States automotive diagnostic scan tools market has several segments, including vehicle type, component, type, application, competitive landscape, and regional distribution. The market's vehicle type segment is further divided into two-wheeler, passenger car, LCV, M&HCV, and OTR, with passenger cars expected to hold the largest revenue share of the market and dominate the market segment in the next five years. This is due to increasing passenger car sales and rising demand for personal vehicle ownership, supported by growing disposable income among the adult population. The two-wheeler vehicles segment may also register significant growth due to increasing demands for these vehicles, which have become more popular due to traffic congestion.
The market's component segment is differentiated between software and hardware, with the software segment expected to hold the largest revenue share of the market and dominate the market segment in the upcoming five years. This is due to growing technological advancements in the automotive diagnostic scan tools. Finally, based on type, the market is fragmented into scanners, code readers, TPMS tools, and others.
A partial list of major market players of the United States automotive diagnostic scan tools market includes :
· Robert Bosch GmbH
· Siemens AG
· Continental AG
· Snap-on Incorporated
· Denso Corporation
· Horiba, Ltd.
· Noregon Systems, Inc.
· Hickok Inc
· DG Technologies
· KPIT Technologies Ltd
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“By application, the market is bifurcated into exhaust gas analyzer, wheel alignment equipment, headlight tester, fuel injection diagnostic, pressure leak detection, engine analyzer, and others. Exhaust gas analyzer is expected to hold the largest revenue shares in the market and dominate the market segment in the upcoming five years on the grounds of increasing concerns for the environment depletions. Exhaust gas analyzer monitors the capacity of the vehicle system responsible for the maintenance of the combustible fuel exhaust and its pollution generation quotient. Rising pollution in the country and thus caused harmful effects over the human health as well as the environment further drives the demand for the exhaust gas analyzer and the growth of the United States automotive diagnostic scan tools market in the future five years. New market players in the country may focus on the technological advancements and evolving & customizing the automotive diagnostic scan tools would aid the market growth as well as support their future brand establishment,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Automotive Diagnostic Scan Tools Market By Vehicle Type (Two-Wheeler, Passenger Car, LCV, M&HCV, OTR), By Component (Software, Hardware), By Type (Scanners, Code Readers, TPMS tools, Others), By Application (Exhaust Gas Analyzer, Wheel Alignment Equipment, Headlight Tester, Fuel Injection Diagnostic, Pressure Leak Detection, Engine Analyzer, Others), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of United States Automotive diagnostic scan tools market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in United States Automotive diagnostic scan tools market.
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The global automotive diagnostic tool market, according to the report by Market Research Future (MRFR), is slated to record a remarkable market valuation at a CAGR of 5% over the assessment period.
Automotive Diagnostic Scan Tools Market Research Report: Information by, By equipment Type (Wheel alignment tester, Vehicle emission test system & others), By product type (diagnostic equipment hardware, Diagnostic software), Vehicle Type & Region - Global Forecast till 2023Drivers and RestraintsThe global automotive diagnostic tool market is poised to have noteworthy growth over the forecast period owing to factors such as the growing complexity in the structure of vehicles along with intensifying incursion of electronics.
This results in an augmented demand for tools and equipment that facilitate the accurate diagnosis of automotive faults.
The introduction of innovative vehicle models and severe government regulation for the lowering of vehicle emission levels have led to further advanced diagnostic scan tools by the diagnostic tool producers.
On the other hand, the growth of this market is likely to be restrained by the high input costs and the immense need for maintaining a balance between the high cost and smart technology by the manufacturers.Segmental AnalysisThe global market for automotive diagnostic scan systems is segmented on the basis of the types of equipment, vehicle, product along with propulsion, and region.The types of equipment available in the market are exhaust gas analyzer, paint scanner, wheel alignment, vehicle emission test system, dynamometer, and headlight tester.
Amongst these, the vehicle emission test system is projected to the witness the fastest growth, owing to the escalation in the stringent government norms regarding vehicle emissions.
Automotive Diagnostic Scan Tools Market in l4 Industry to grow by $ 2.51bn|TechnavioThe automotive diagnostic scan tools market size value is poised to grow by $ 2.51 bn during 2021-2025.
The market is expected to progressing at a CAGR of almost 2%.
In addition, the report offers a detailed analysis of the current market scenario, which is majorly focused on the COVID-19 impact.
Furthermore, our research expects have extensively covered the latest trends, challenges, and drivers and vendor strategies to overcome growth obstacles.View our exclusive report on the CMOS image sensors market covering market trends, vendor analysis, and growth opportunities to improve your business - Download Free Sample Report.Automotive Diagnostic Scan Tools Market Trends & DriversThe automotive diagnostic scan tools market research report has a detailed analysis on the key drivers, trends, and challenges, which will help vendors in making important business decisions and modifications to cater to the changing consumer demand.
While it is essential to capitalize on key drivers such as rising number of vehicle workshops, it is also crucial to understand the challenges that will impede sales during the forecast period.
Identifying and addressing market growth challenges will create additional opportunities for the existing and new market players.
