The global Automotive Repair & Maintenance Service Market is estimated to reach USD 810.30 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the growing need for passenger’s safety. Increase in awareness related to vehicle maintenance and safety is expected to drive the market. Increased road safety awareness among the general population, the average maintenance and repair expenses by an individual are anticipated to drive the market.
North America region is projected to grow at a CAGR of 5.8% during the forecast period with the largest share of 32.50% in 2018. The improving countries are the primary consumers of vehicles in this region. The Automotive repair & maintenance service market in the Asia Pacific has been expanding owing to the rise in technological advances in the area.
Key participants include Arnold Clark Automobiles Limited, Driven Brands, Inc., Ashland Automotive, Inc., Asbury Automotive Group, Inc., Belron International Ltd., Carmax Autocare Center, Jiffy Lube International, Inc., Goodyear Tire & Rubber Company, Halfords Group Plc., Firestone Complete Auto Care.
For the purpose of this report, Reports and Data have segmented the global AUTOMOTIVE REPAIR & MAINTENANCE SERVICE market according to Product, Component, Application, End-user, and Region:
Parts Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)
- Tires
- Wear and tear parts
- Collision body
- Batteries
- Others
Service Type Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)
- Car Maintenance Services
- Car Repair Service
Application Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)
- Passenger vehicle
- Commercial vehicle
- Mechanical
Technology Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)
- Microcomputers
- Aluminum
- Wireless
- Others
Service provider Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)
- Automobile dealerships
- General franchise repairs
- Specialty shops
- Locally owned repair Shops
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
- North America (United States, Canada and Mexico)
- Europe (Germany, France, UK, Russia and Italy)
- Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
- South America (Brazil, Argentina, Colombia)
Further key findings from the report suggest
- In the Automotive Repair & Maintenance service Market, the tire segment accounts for the largest share of 33.48% in 2018 due to the growing extensive use of vehicles for other daily purposes.
- Tire services include tire pressure monitoring, replacement of tires, repair of flat tires and misalignment of tires. Battery services cover replacement of automotive batteries. Wear and tear parts include brake wheel end, shock absorbers, driveline, engine, and suspension. Collision body includes crash parts, coating and painting, refinishing and repair materials.
- In terms of service providers, the automotive repair and maintenance services market is segmented as an automotive dealership, locally owned repair shops, general franchise repairs, and others. The automotive dealership segment is estimated to drive the growth of the market. Presence of various locally owned repair shops is also growing at a significant rate due to the increase in inclination of consumers toward the locally owned shops.
- Based on service type, the car maintenance service type is valued at USD 299.88 billion in 2018 and is estimated to reach USD 478.08 billion by 2026 at a CAGR of 5.8% during the forecast period.
- Some of the trending possibilities in the automotive repair and maintenance services market are an inclination towards the adoption of remote vehicle diagnostics system and collaboration & partnership between small locally owned repair shops & fleet and leasing firms…Continued
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