The European automotive diagnostic tools market is forecast to reach revenues of US$1.8 billion. The vehicle manufacturers are installing increasingly more technologically advanced parts systems in vehicles and this trend combined with the need to control vehicle emissions for new vehicles is driving growth in the diagnostic tools industry sector. The United States automotive diagnostic tools market is catching up with the European market as new vehicles are increasingly required to control emission levels and the competitive nature of the market is driving increased complexity of vehicle systems. The United States automotive diagnostic scan tools market is forecast to expand at a similar rate as the European market to report revenues of US$1.8 billion in 2018.
The advancements in the technology installed in vehicles combined with the modular nature of automotive parts systems has resulted in the need for more complex diagnostic scan tools to determine faults. As the vehicle production market has become more competitive post the economic crisis, there is increased requirement for vehicles to differentiate through more advanced technological parts, systems and features to gain the competitive edge. Automatic cruise control technology and adaptive front lighting systems are just some of the advanced systems now installed in vehicles globally. The more advanced systems installed in vehicles has increased the complexity of vehicles electronic and electrical architecture and has driven growth in the diagnostic tolls market.
According to a new report “Automotive Diagnostic Scan Tools Market: Industry Trends & Forecast to 2018”, the leading players in the diagnostic tools market are Bosch-SPX (Germany), Actia Group (France), Snap-On Inc. (U.S.), Softing AG (Germany), and Denso Corp. (Japan).
The key factors driving growth in the automotive diagnostic tools market are the increased role of electronics in vehicles both within the engine systems and also controlling ancillary parts. In addition, the requirement to strictly control emissions from vehicles as a result of strong government legislation has resulted in an increased requirement for timely checking of engine systems and emission quality. In addition, there is a strong requirement for reducing the time spent diagnosing faults and this has also driven increased demand for more advanced diagnostic tools.
Europe has been reported as being the largest market for automotive diagnostic scan tools due to its large vehicle fleet equipped with complex electrical/electronic systems and the number of new vehicle models launched annually. This has driven the need for the continued development of more advanced diagnostic scan tools which can diagnose faults in more than 40,000 vehicle models. More recently, the gap between the European and U.S. markets has reduced in the last few years due to the increasing vehicle registrations, stringent emission norms, increased fuel efficiency standards, and advanced technologies equipped in the vehicles. All these factors call for the increased growth in the diagnostic scan tools market in the United States.
For more information on the Automotive diagnostic scan tools market, see the latest research: Automotive Diagnostic Scan Tools Market
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