Diagnostic Scan Tools Market Projected to Grow Steadily During 2018-2025

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Do-it-yourself (DIY) kits offer easy operability and have gained significant popularity in the recent past. This has led to significant demand for these kits. These DIY kits have led to significant reduction in demand for diagnostic equipment and are projected to hamper the overall diagnostic scan tools market growth over the forecast period.

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Diagnostic Scan systems are electronic tools programmed to find significant applications as an interface to diagnose problems or malfunctioning of any operations in an automobile. These tools enable in upgrading and reprograming of the vehicles control module. On the basis of technology, these products include, handheld, mobile device/pc/laptop based scan tools, data loggers, emission testing, vehicle telematics, and supplementary vehicle instrumentation.

According to International Organization of Motor Vehicle Manufacturers (OICA) data, the number of vehicles in use have witnessed an increase of over 3.7% CAGR over the term of 2005 to 2015, pegged at over 1.28 billion vehicles in 2015. Moreover, according to the organizations sales data, average sales of the vehicles has witnessed CAGR of over 3.2% over the period of 2006 to 2016, accounting for around 93.9 million vehicle sales in 2016. Growth in the vehicles in use and sales is expected to lead to increasing demand for automotive maintenance and services in the near future. Moreover, in order to reduce time and effort for detection, maintenance, and repair of automobiles is a factor expected to fuel growth of the global diagnostic scan tools market over the forecast period.

Advancements in technology in the development of communication and compactness of diagnostic equipment devices have led to significant growth in adoption of these devices. Handheld equipment and wireless communication-based equipment offer features such as mobility and efficiency in detection of automotive internal conditions and faults. These technologies are increasingly gaining traction. In conjunction with these factors, growing motorization rate per thousand inhabitants every year across the globe, which was 182 vehicles per 1000 inhabitants in 2015, as per OICA, is expected to propel growth of the diagnostic scan tools market over the forecast period.

Based on the product type, diagnostic equipment (hardware) segment was dominant in the global diagnostic scan tools market share in 2016, and is expected to continue its dominance over the forecast period. This aids in fault detection reliance on the analog and digital components to enable functionality of such devices. However, software segment is expected to witness highest growth over the forecast period, as software analyzes the complex codes to perform diagnosis of powertrain, chassis, and the body. Additionally, introduction of compact tools to reduce space footprint and incorporation of wireless communications is expected to significantly contribute to growth of the market.

Europe diagnostic scan tool market was dominant in terms of value share in 2016, owing to high utilization of the hardware systems in the region. Moreover, increasing consumer preference for more precise diagnosis for their vehicles has led to increased proliferation of advanced devices and systems. Some of the key players in the global diagnostic scan tools market are Actia SA, AVL List GmbH, Continental AG, Delphi Automotive PLC, Denso Corporation, Hickok Incorporated, Kpit Technologies, Robert Bosch GmbH, Snap on Incorporated, and Softing AG.

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