Automotive Diagnostic Scan Tools Market to Touch USD 46.95 Billion by 2028; Quick Repairing and Easy Fault Identification Capabilities of the Tool to Foster Industry Growth

The global automotive diagnostic scan tools market size is anticipated to grow by touching USD 46.95 billion by 2028. Fortune Business Insights™ in its report titled “Automotive Diagnostic Scan Tools Market Size, Share & COVID-19 Impact Analysis, By Product Type (Diagnostic Equipment/Hardware, Diagnostic Software), By Vehicle Type (Passenger Cars, Commercial Vehicles), and Regional Forecast, 2021-2028”, examines that the market size stood at USD 31.87 billion in 2020 and is expected to exhibit a CAGR of 5.3% during 2021 and 2028. Quick repairing and easy fault identification of faults in automobiles and rising OBD-II standard adoption in vehicles are likely to fuel the growth of the industry.

Snap-On Incorporated Completes the Acquisition of AutoCrib, Inc. to Expand Product Offerings

Snap-On Incorporated acquired a leading designer and manufacturer of tool and asset control solutions named AutoCrib Inc. in September 2020. The company acquired AutoCrib Inc. for approximately USD 36 million. This acquisition shall expand Snap-On’s product offerings in several industrial applications such as natural and general, military, automotive, and aerospace industries. AutoCrib’s asset tracking software and the product lineup are expected to offer advanced ADAS systems to consumers. This development may enable Snap-On to expand its market reach and boost its sales.  

Robust Demand for Passenger Cars with Automotive Diagnostics Software to Propel Growth

The rising awareness regarding automotive diagnostic scan tools efficiency is likely to increase its adoption from car manufacturers. The demand for sophisticated diagnostic software is expected to boost the scanning tools adoption in passenger cars. Furthermore, technological advancements in vehicles and complex designs are likely to fuel diagnostic tools’ adoption. The faults in modern vehicles are often complex and require advanced diagnostic solutions. These scan tools provide consumers with a simple interface that can solve technically challenging problems in vehicles. Furthermore, it eliminates the need for costly workshop repairs and improves the vehicle's performance. In addition, increased vehicle usage and rising demand for vehicles with advanced features are likely to foster the automotive diagnostic scan tools market growth.

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Major Players Announce Novel Products to Reinforce Market Position

The prominent companies operating in the market announce novel products to boost sales and improve their market position. For example, Snap-on Incorporated announced its novel John Bean Tru-Point advanced driver assistance system (ADAS) calibration tool at the Auto Glass Week held in Florida, U.S., in May 2021. The ADAS system shall enable shops to streamline their calibration procedure completely. This launch may enable the company to improve its market position globally. Further, companies announce innovative solutions to boost their brand image. For example, HORIBA Automotive launched an electrification system that consists of turnkey testing solutions, single component testing, consulting, and other services in April 2021. This launch shall assist manufacturers throughout the vehicle development phase. This development may boost the company’s brand image.

Industry Development

• February 2021: SGS acquired a France-based organization named Autoscope/CTOK that operates three vehicle inspection series (VIS) facilities. This acquisition was undertaken to merge SGS’s market position in automotive inspection service and the company’s acquisition of CTA Gallet and Groupe Moreau in 2020.

LIST OF KEY MARKET PLAYERS PROFILED IN THE MARKET REPORT:

• ACTIA Group (Toulouse, France)


• Snap-on Incorporated (Wisconsin, U.S.)


• Softing AG (Haar, Germany)


• Robert Bosch GmbH (Gerlingen, Germany)


• Delphi Technologies (London, U.K.)


• Denso Corporation (Aichi, Japan)


• SPX Corporation (North Carolina, U.S.)


• Continental AG (Hanover, Germany)


• SGS SA (Geneva, Switzerland)


• Horiba, Ltd. (Kyoto, Japan)

Further Report Findings

• The market in Asia-Pacific stood at USD 15.43 billion in 2020 and is expected to gain the largest portion of the global automotive diagnostic scan tools market share. The increasing number of service and work stations in the region is likely to boost automotive diagnostic scan tools demand.


• Moreover, the higher automobile production in India and China is likely to boost the diagnostic scan tools’ adoption. In addition, rising per-capita income and evolving buying preferences are likely to propel industry development.


• According to vehicle type, the passenger car segment is expected to hold the largest market share. Rising awareness regarding automotive diagnostic scan tools' continuous operation capability and fault-tolerance are likely to boost its adoption. This factor is likely to fuel the industry's growth.

Table of Segmentation: