Automotive Service, Maintenance & Repair Market: Global Size, Share, Trends, Growth and Forecast, 2022-2032
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The automotive service, maintenance, and repair market refers to the segment of the automotive industry that provides a wide range of services to keep vehicles running smoothly, including routine maintenance, repairs, and replacement of parts. This market includes both independent repair shops and franchise dealerships.
Routine maintenance services include tasks such as oil changes, tire rotations, and brake inspections, which are essential for keeping a vehicle in good working condition and preventing more serious problems down the line. Repair services address specific issues with a vehicle, such as engine problems, transmission issues, or electrical system malfunctions.
The automotive service, maintenance, and repair market is driven by the increasing number of vehicles on the road, as well as the need for regular maintenance and repairs to keep those vehicles safe and reliable. This market also benefits from the increasing complexity of modern vehicles, which require specialized knowledge and equipment to diagnose and repair.
The market for automotive service, maintenance, and repair is highly competitive, with many independent shops and franchise dealerships offering a range of services to customers. In addition to traditional services, some providers also offer value-added services such as vehicle detailing, tire sales and service, and roadside assistance.
Overall, the automotive service, maintenance, and repair market is an important segment of the automotive industry, providing essential services to keep vehicles running smoothly and ensuring the safety of drivers and passengers on the road.
Automotive aftermarket industry is witnessing various major disruptions such as changing consumer preferences, shifting competitive dynamics and digitization. Various new players are entering automotive aftermarket and established players are changing their business strategies to keep abreast of the changing pulse of the market.
Industry Insights.
The global automotive service, maintenance & repair market accounted for USD 425.4 Billion in 2021. Moreover, it is anticipated to flourish at a CAGR of 7.0% during the forecast period i.e., 2022-2032.
Growth Drivers
Factors such as increasing sale of vehicles and rising average driving miles are expected to foster the growth of automotive service, maintenance & repair market. According to OICA, total sales of passenger cars accounted to 7,08,49,466 in 2019 and represented a growth of 1.9% as compared to 2018. Apart from this, increasing fleet of old vehicles is resulting in increased demand for automotive service, maintenance, and repairs. Further, burgeoning middle-class population coupled with increasing disposable income in developing nations is positively impacting the growth of market. In major urban cities across the world, high spending on household transportation budgets has been observed which has led to rapid rise in middle-class vehicle ownership. This increasing sale of passenger car will bring healthy gains adding significant momentum to global growth.
Favorable government agencies regulations regarding pollution emission are also favoring the growth of the market. These stringent government regulations have swayed automotive aftermarket and replacement market. China, India, Japan, U.S., Germany and U.K. are believed to be key contributors to the growth of automotive service, maintenance & repair market during the forecast period.
Passenger cars, one of the segments analyzed in this report, showcase highest growth rate and is anticipated to grow over CAGR of 4.9% during forecast period i.e. 2020-2025.
Segmentation
The research offers a comprehensive analysis of automotive service, maintenance & repair market with respect to following sub-markets:
By Offerings
- Maintenance
- Service
- Repair
By Vehicle Type
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
By Service Provider
- Authorized Automotive Repair Shop
- Independent Automotive Repair Shop
By Geography
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
Competitive Landscape
The report profiles various major market players such as;
- Toyota
- Volkswagen Group
- Hyundai
- General Motors
- Ford
- Nissan
- Honda
- Suzuki
- Diamler
- BMW
- Other Major & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development expansion, and other market activities.
The study also provides company’s positioning and market share in automotive service, maintenance & repair market.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global automotive service, maintenance & repair market by the following segments.
- Offerings
- Vehicle Type
- Service Provider
Geographic Market Analysis:
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Customization: We also offers customization is in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Automotive Service, Maintenance & Repair Market Industry Report.
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e., 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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- Publication date: Aug 2023
- Base year: 2022
- Forecast year: 2023-2033
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