Global Diagnostic Tools and Workshop Equipment Market
Growth Indicators
Challenges
Automotive diagnostic tools and workshop equipment are designed to capture information with the aid of an on-board diagnostic (OBD) scanning system that can diagnose different vehicle subsystems and identify faults in them. The process of diagnosis also includes the utilization of additional hardware and software components that determine the faults by connecting to the vehicle through a data logger, laptop/desktop, and other tools. These vehicle scanning tools further aid the professional vehicle mechanic with live data, which helps them to identify the flaw of the engine, battery, fuel system, transmission, or any other electronic components of the vehicle systems.
The global diagnostic tools and workshop equipment market is further anticipated to grow during the forecast period on account of the numerous opportunities generated by the emergence of next-generation vehicles, along with the growing focus of automobile manufacturers for adopting advanced OBD diagnostic tools and software. Further, the market is projected to touch USD 38059.2 million by the end of 2021.
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
3.6% |
Base Year Market Size (2024) |
USD 45.98 billion |
Forecast Year Market Size (2037) |
USD 72.82 billion |
Regional Scope |
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Author Credits: Richa Gupta
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