Automotive Diagnostic Scan Tools Market: Key Highlights
Automotive Diagnostic Scan Tools Market: Key Market Dynamics
Automotive Diagnostic Scan Tools Market: Regional Overview
In Asia-Pacific region, the growth is attributed to high production and sales of automobiles, the purchasing power of consumers and the adoption of electric vehicles will penetrate the high usage of the automotive diagnostic scan tools. Furthermore, stringent regulations in emission reduction have made On-Board Diagnostics (OBD) technology, maintenance, and inspection checks compulsory which directly increases the demand for the diagnostic scan tools market. China leads due to the major share of automotive production and the presence of top automotive manufacturers such as Honda, Toyota, and Hyundai.
In Europe, the increasing vehicle production, customers’ preference towards premium & electric vehicles and technological advancements in diagnostic scan tools have resulted in propelling the market growth. Moreover, the European Union imposed standards for vehicle emissions will boost the market growth. Countries like Germany, UK, and France hold the major contribution to automobile production which is indirectly driving the automotive diagnostic scan tools market growth in this region.
Automotive Diagnostic Scan Tools Market: Key Players Overview
DENSO CORPORATION is a Japan-based company that manufactures automotive parts. The company products include generators, power steering systems, air conditioners, airbags, spark plugs with iridium electrode, and others. In April 2019, the company announces the opening of the connected services Pennsylvania technical center in Scranton to enhance diagnostics technology in the aftermarket.
Snap-on Incorporated is a US-based company that manufactures and develops high-end tools and equipment solutions. The company offers diagnostics, power tools, and shop equipment, diagnostics software, tool storage products, and other solutions for the automotive sector.
In August 2019, the company acquired Cognitran for approximately USD 31 million in cash and will be a part of Snap-on’s Diagnostic systems and information group. This acquisition will strengthen Snap‑on’s capabilities in providing shop efficiency solutions through integrated upstream services to OEM customers in automotive, recreational, heavy-duty, agricultural and applications.
About Forencis Research
Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of market research reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets.
Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. We strive to help our clients to foray into uncharted space to attain increased revenue growth for the present as well as the future.
Phone: +1 (720) 306 9020