Vehicle Diagnostics Market: Key Highlights
Vehicle Diagnostics Market: Key Market Dynamics
Vehicle Diagnostics 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 vehicle diagnostic system. Furthermore, stringent regulations in emission reduction have made vehicle diagnostics, maintenance, and inspection checks compulsory which directly increases the demand for the vehicle diagnostic market.
In Europe, the increasing vehicle production, the demand for premium & electric vehicles with advanced safety and security features and technological advancements in vehicle diagnostic tools have resulted in propelling the market growth. Moreover, the European Union imposed standards for vehicle emissions and vehicle safety will boost market growth.
Vehicle Diagnostics Market: Key Players Overview
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.
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 October 2018, the company acquired EASE Simulation Inc. which is specialized in automotive diagnostics technology. This acquisition will enhance Denso’s services offered within its Original Equipment Service (OES), aftermarket and non-automotive businesses.
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