Overview and Scope
Automotive repair and maintenance refer to the service of repair, alteration, restoration, towing, painting, and cleaning of automobiles. Regular vehicle service and maintenance give huge dividends in fuel efficiency, increase safety, and longevity, enhance performance and reliability, and save on expensive repairs.
Sizing and Forecast
The automotive repair and maintenance market size has grown strongly in recent years. It will grow from $907.72 billion in 2023 to $990.04 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to rise in disposable income, increased environmental concerns for e-waste pushing companies to re-use automotive parts, strong economic growth in emerging markets and rapid urbanization.
The automotive repair and maintenance market size is expected to see strong growth in the next few years. It will grow to $1381 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to growing sense of sustainability, growing vehicle failure rate and cost-benefit associated with repairing old vehicle, increasing government regulations for automotive waste management and higher purchase cost of automotive vehicles. Major trends in the forecast period include adopting predictive maintenance solutions in vehicles to reduce breakdowns and improve efficiency by predicting parts failures in advance, implement enhanced safety features in their vehicles to offer safe services for the customers, integrate advanced technology in their services in order to provide quality and efficient safety services, companies should consider implementing big data analytics tools in companies’ operations to enhance their real-time operations, focus on mergers and acquisitions to increase revenue and market share, use remote vehicle diagnostic systems to increase the safety of the consumer and also the vehicle, adopt ai solutions, to ultimately reduce r&d costs and save development time, and focus on offering electric vehicles in their portfolio to cater to the growing environmental consciousness among customers.
Order your report now for swift delivery, visit the link:
https://www.thebusinessresearchcompany.com/report/automotive-repair-and-maintenance-global-market-report
Segmentation & Regional Insights
The automotive repair and maintenance market covered in this report is segmented –
1) By Type: Automotive Mechanical And Electrical Repair And Maintenance, Automotive Body, Paint, Interior, And Glass Repair, Other Automotive Repair And Maintenance
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Bike And Scooter
3) By Service Provider: Automotive Dealership, Franchise General Repair, Specialty Shop, Locally Owned Repair Shops/Body Shop, Others
Sub segments: General Automotive Repair, Automotive Exhaust System Repair, Automotive Transmission Repair, Other Automotive Mechanical And Electrical Repair And Maintenance, Automotive Body, Paint, And Interior Repair And Maintenance, Automotive Glass Replacement, Automotive Oil Change And Lubrication Shops, Car Washes, All Other Automotive Repair And Maintenance
Western Europe was the largest region in the automotive repair and maintenance market in 2023. Asia-Pacific was the second-largest region in the automotive repair and maintenance market. The regions covered in the automotive repair and maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Intrigued to explore the contents? Secure your hands-on a free sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=2235&type=smp
Major Driver Impacting Market Growth
Automotive repair and maintenance service providers are increasingly installing diagnostic devices in customer vehicles to improve their service offerings. On-board diagnostics tools are being used to track vehicle conditions and identify potential problems by running diagnoses. For instance, Koovers, a car maintenance services provider, fits an onboard diagnostics tool for its registered customers. Its call center picks up the error reported by the tool and connects with the customer for required repair work. This enables garages to check for required parts for the car even before the car is brought in for service thus reducing wait time.
Key Industry Players
Major companies operating in the automotive repair and maintenance market report are LKQ Corporation, Belron International Ltd., ADNOC, Monro Muffler Brake, Asbury Automotive Group Inc., Nippon Express Co., Ltd., Lookers PLC, Halfords, ComfortDelGro Corporatio, A2B Australia Ltd, Nextage Co.,Ltd., Bigmotor Co., Ltd., Hitachi Transport System, Ltd., Evergreen Motors, Kothari Auto Link Private Limited, Modi Motors Agencies Private Limited, China Grand Automobile Service Co., Ltd, Xianglong Borui Auto Services (Group) Co., Ltd., Sanhe Group, Changzhou Tourism Automobile Group Co., Ltd, Nanchong Kunhe Automobile Trading Co., Ltd., Kwik-Fit (GB), ATS Euromaster Ltd, Berlin Motor Works, A R German Motors, MAN Truck & Bus Deutschland GmbH, Mobivia SA, Euromaster France SNC, Carglass SAS, Hyundai Motor Manufacturing Rus Limited Liability Company, Nokian Shina Ltd., Arkhangelski Tsbk, Ao, Limited Liability Company Pcma Rus, Tatneft-Azs-Severo-Zapad, Ooo, Llc Bridgestone C.I.S., Societe A Responsabilite Limitee Peugeot Citroen RuS, Midas International, Meineke Car Care Centers, CARSTAR Franchise Systems, AAMCO Transmissions and Total Care, Precision Tune Auto Care, Christian Brothers Automotive, Tuffy Tire and Auto Service, Milex Complete Auto Care/Mr. Transmission, Honest-1 Auto Care, Darlon Wilian Da Silva Gusmao, Ademir Vacari, Auto Socorro Do Careca Ltda, Neutrans S.A., Bosch Car Service, Z F Services Middle East L.L.C, Emrill Services L.L.C, Amana Contracting & Steel Building Company – W L L, Al Naboodah Contracting Co. (L.L.C.), Saeed Mohd. Al Ghandi & Sons, Ag Facilities Solutions L.L.C, Al Futtaim Auto & Machinery Company (Llc) – Famco, Al Shirawi Enterprises (L.L.C.), Yanfeng South Africa Automotive Interior Systems (Pty) Ltd, Germatic Autobody CC, Kempster Sedgwick (Pty) Ltd, Prommac (Pty) Ltd, Federal-Mogul Of South Africa (Pty) Ltd, Tracker Connect (Pty) Ltd
The automotive repair and maintenance market report table of contents includes:
1. Executive Summary
2. Automotive Repair and Maintenance Market Characteristics
3. Automotive Repair and Maintenance Market Trends And Strategies
4. Automotive Repair and Maintenance Market – Macro Economic Scenario
5. Global Automotive Repair and Maintenance Market Size and Growth
.
.
.
31. Global Automotive Repair and Maintenance Market Competitive Benchmarking
32. Global Automotive Repair and Maintenance Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fat Replacers Market
34. Automotive Repair and Maintenance Market Future Outlook and Potential Analysis
35. Appendix
Explore the trending research reports from TBRC:
https://www.thebusinessresearchcompany.com/report/personal-goods-repair-and-maintenance-global-market-report
https://www.thebusinessresearchcompany.com/report/ship-and-boat-building-and-repairing-global-market-report
https://www.thebusinessresearchcompany.com/report/electronic-and-precision-equipment-repair-and-maintenance-global-market-report
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
