The global Automotive Diagnostic Scan Tools market is projected to grow at a CAGR of 4.5% during the forecast period, to reach USD 41.4 billion by 2026 from an estimated USD 33.1 billion in 2021. The forecast period is 2021 to 2026. The rise in stringent emission norms to prevent environmental impact and the increase in demand of premium segment cars are the major factors boosting the growth of automotive diagnostic scan tools market globally.
The major market players include Robert Bosch GmbH (Germany), Siemens (Germany), Continental AG (Germany), Denso (Japan), Snap-on (US). These players have adopted various growth strategies such as partnerships, agreements, collaborations, and new product launches to increase their presence in the global market. New product development was the key strategy adopted by leading players to gain traction in this market.
Robert Bosch GmbH commonly known as Bosch is a German multinational engineering and technology company founded in 1886 and headquartered in Gerlingen, Germany. The company’s core operating areas are spread across four business sectors: mobility (hardware and software), consumer goods (including household appliances and power tools), industrial technology (including drive and control) and energy and building technology. The company offers vehicle diagnostic tools and solutions such as ADS X, ADS, OBD scanners, TPMS and KTS truck.
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Siemens is a German multinational conglomerate founded in 1847 and headquartered in Munich, Germany. The principal divisions of the corporation are Industry, Energy, Healthcare (Siemens Healthineers), and Infrastructure & Cities, which represent the main activities of the corporation. The company operates through its business divisions such as Digital Industries, Smart Infrastructure, Mobility, Siemens Healthineers, Siemens Financial Services and Portfolio Companies. The company also operates through its subsidiaries such as Siemens Mobility, Mendix, Siemens Canada, Mentor Graphics, Siemens Digital Industries and others.
Continental AG, commonly known as Continental is a German multinational automotive parts manufacturing company specializing in brake systems, interior electronics, automotive safety, powertrain, tires and other parts for the automotive and transportation industry. The company was founded in 1871 and is headquartered in Hanover, Germany. The core business of the company has been segmented into Automotive Group, Rubber Group & Powertrain group. The Automotive Group operates through the Autonomous mobility & Safety, Vehicle networking & information, while the Rubber Group operates through the Tires and ContiTech divisions. The company offers diagnostic scan tools products such as Autodiagnos Drive, VDO TPMS pro, Autodiagnos Pro, Autodiagnos TPMS D Tool and TPMS GO tool.
Denso is engaged in developing and marketing advanced automotive technologies, systems, and components. Denso (originally incorporated as the Nippon Denso Company) is Japans leading producer of automobile components. It was founded in 1949 and is headquartered in Aichi Prefecture, Japan. As the second-largest member of the Toyota Group, more than half of Densos products are made for the Toyota Motor Corporation (TMC), which owns a maximum share of Denso stock. Denso also supplies to nearly all other major Japanese automakers as well as numerous US manufacturers, including Ford, General Motors, and Chrysler and major European auto manufacturers such as Volvo, BMW, and Fiat.
Snap-on is an American designer, manufacturer and marketer of high-end tools and equipment for professional use in the transportation industry including the automotive, heavy duty, equipment, marine, aviation, and railroad industries. It was founded in 1920 and is headquartered in Wisconsin, US. The company produces hand-held electronic diagnostic tools for the computer systems used in most modern cars and heavy duty vehicles, produced in the US at their Kenosha site, along with software development in the US, Ireland, Australia, Mexico, Brazil and China, as well as automotive emissions control diagnostics equipment in its San Jose, California diagnostic facility. Snap-on diagnostic products are sold in Europe and Brazil under the name Sun.
Automotive Diagnostic Scan Tools Market by Workshop Equipment, Vehicle, Handheld Scan Tools (Scanner, Code Reader, Digital Pressure Tester, TPMS Tool, Battery Analyzer), Offering, Connectivity (wi-Fi, Bluetooth), Type and Region - Global Forecast to 2026
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