Automotive Repair and Maintenance Services Market

Product Overview

Automotive repair and maintenance facilities are provided by complex diagnostics from tire and wheel alignments t--oil adjustments t--keep passenger cars as well as commercial vehicles in operating condition. Many parts of the vehicles such as brakes, engines, filters, and batteries are not visually checked, while routine maintenance and repair services are essential t--them t--increase the vehicle's performance. In addition, daily oil change, brake repair, air conditioning operation, and wheel alignment all lead t--improving vehicle life.

Market Highlights

The global market for automotive repair and maintenance services market is anticipated t--surpass USD 937.7 million by 2030 from USD 535.3 million in 2020 at a CAGR of 5.8% during the forecast period i.e. 2020-2030. As per their research, the market is likely t--grow on the back of increasing awareness about vehicle maintenance and vehicle safety across the globe.

The availability of several independent aut--services and maintenance providers is likely t--boost the automobile repair and maintenance service market during the forecast period. Moreover, quality of service efficiency, cost-effectiveness, and efficient maintenance services are key factors that are anticipated t--further propel the industry shortly. In addition, the increase in on-road vehicles worldwide is expected t--fuel the demand for automotive repair and maintenance services during the forecast period.

Global Automotive Repair and Maintenance Services Market Opportunity Analysis

Source: Fatpos Global

Global Automotive Repair and Maintenance Services Market: Segments

Passenger Cars segment t--grow with the fastest CAGR of xx% during 2020-2030

Around the globe, the market for automotive repair and maintenance services is segmented by vehicle type int--bikes & scooters, passenger cars, and commercial vehicles. Among these, the passenger cars segment held the largest market share of xx% in the year 2019. As per the CMI analysis, passenger cars are the most selling segment. According t--the same analysis, XXXX million units of passenger cars were sold in 2019 and the sale is expected t--rise at a CAGR of xx% during the forecast period. Owing t--all these reasons, the passenger car segment is anticipated t--drive the growth of the market in the coming years.

By Vehicle Type (in %), Global Automotive Repair and Maintenance Services Market, 2019

Source: Fatpos Global

Tire Shops segment t--grow with the fastest CAGR during 2020-2030

The global automotive repair and maintenance services market is segmented by service providers int--automobile dealerships, franchise general repairs, locally owned repair shops/body shops, specialty shops, and tire shops. Among these, the tire shops segment held the largest market share of xx% in 2019 and is anticipated t--grow the fastest at a CAGR of xx% during the forecast period i.e. 2020-2030. The tires need t--be changed regularly because they are vital parts of the Automotive. Worn-out tires are dangerous t--drive because they cannot grip the road properly and increases the risk t--life.

By Service Providers (in %), Global Automotive Repair and Maintenance Services Market, 2019

Source: Fatpos Global

Global Automotive Repair and Maintenance Services Market: Drivers and Restraints

Increase in Average Age of Vehicles

Advances in technology have led t--an improvement in the quality of the materials used in the manufacture of vehicles, which has consequently improved the average automotive life. The use of automotive turbochargers, start-stop systems, and pollution control catalysts has increased vehicle fuel economy and has had a positive impact on vehicle service life. Given rising reliability, there has been a substantial increase in the number of vehicles over the past few decades across the globe. According t--a survey, customers keep their old cars as second-hand vehicles instead of reselling or scrapping them, resulting in significant repair and maintenance services, thereby potentially fueling the market growth.

Online Retailing of Aftermarket Parts affecting Traditional Outlets

Recent surveys and reports on vehicle aftermarket sales have indicated that retailing automotive parts online would adversely impact the business of conventional retailers, such as service centers and dealerships. E-retailers such as Amazon sells goods at much cheaper prices, putting pressure on car dealerships t--reduce their costs, which in turn will limit the growth of the demand for car repair and maintenance services during the forecast period. In addition, the integration of B2B and B2C business models, which specifically target DIY customers, further derail the business of specialty repair shops owned locally.

Increased Costs Associated with Repair and Maintenance Services

The rising technical complexity associated with vehicles and automotive parts has resulted in a high cost of maintenance and repair services. Moreover, increasing labor costs worldwide coupled with the reluctance of consumers t--adapt t--these high-cost services are expected t--restrain the global automotive repair and maintenance services market shortly. As per the primary interviews conducted with key opinion leaders, the annual passenger car maintenance cost per unit may rise by 2x over the forecast period.

Global Automotive Repair and Maintenance Services Market: Key Players

Jiffy Lube International

Company Overview

Business Strategy

Key Product Offerings

Financial Performance

Key Performance Indicators

Risk Analysis

Recent Development

Regional Presence

SWOT Analysis

Arnold Clark Automobiles

Halfords Group

Asbury Automotive Group

Goodyear Tire & Rubber Company

Ashland Automotive

Firestone Complete Aut--Care

Belron International

Driven Brands

Carmax Autocare Center

Global Automotive Repair and Maintenance Services Market: Region

Asia Pacific t--grow with the fastest CAGR during 2020-2030

The global automotive repair and maintenance services market is segmented by region int--North America, Latin America, Europe, Middle East & Africa, and the Asia Pacific. Among these, Asia Pacific is witnessed t--hold the largest market share of xx% in the year 2019 owing t--the growing automotive market in the region. As per CMI analysis, the Asia Pacific region constitutes the world's 60% population and increased population demands for effective mobility. As the demand for automotive in the Asia Pacific is rising, the automotive repair and maintenance services market is als--expected t--rise in the region.

By Region (in %), Global Automotive Repair and Maintenance Services Market, 2019

Source: Fatpos Global

The global automotive repair and maintenance services market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - the United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa, and Rest of MENA

APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and the Rest of APAC

Global Automotive Repair and Maintenance Services Market: Impact of COVID-19

The rise of COVID-19 has brought the world t--a halt. The health crisis has brought an unprecedented impact on organizations across industries. With an increasing number of active cases daily, the duration of the pandemic is still difficult t--predict. Yet the adverse effect of COVID-19 can be felt in the global automotive repair and maintenance services market owing t--the fluctuation in demand for products associated with optical coatings, the effect on manufacturing organizations due t--the implementation of lockdown norms in many nations worldwide, and others.

The report on the global automotive repair and maintenance services market als--contains an analysis on:

Automotive Repair and Maintenance Services Market Segments:

By Vehicle Type

Bikes & Scooters

Passenger Cars

Commercial Vehicles

By Service Providers

Automobile Dealerships

Franchise General Repairs

Locally owned Repair Shops/ Body Shops

Specialty Shops

Tire Shops

By Region

North America

Latin America

Europe

Middle East & Africa

Asia Pacific

Automotive Repair and Maintenance Services Market Dynamics

Automotive Repair and Maintenance Services Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints