The Repair and Maintenance Global Market Report 2023 by The Business Research Company, provides repair and maintenance market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Repair and Maintenance Global Market Report 2023, the global repair and maintenance market size will grow from $1,416.41 billion in 2022 to $1,536.47 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of repair and maintenance market is expected to grow to $2,056.84 billion in 2027 at a CAGR of 7.6%.
A growing sense of sustainability and focus on reducing waste will result in more repair and maintenance of various devices, equipment or vehicles, thus driving the market for the repair and maintenance. The waste from disposed of devices, equipment or vehicles and their parts is one of the emerging problems in developed and developing countries worldwide. This waste can have an adverse impact on human health and the environment because it can contain toxic substances.
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The repair and maintenance market is segmented:
1) By Type: Automotive Repair and Maintenance, Commercial and Industrial Machinery and Equipment Repair and Maintenance, Electronic and Precision Equipment Repair and Maintenance, Personal Goods Repair And Maintenance
2) By Mode: Online, Offline
3) By Service: Off-Site Service, On-Site Service
Subsegments Covered: Automotive Mechanical and Electrical Repair and Maintenance, Automotive Body, Paint, Interior, and Glass Repair, Other Automotive Repair and Maintenance Consumer Electronics Repair and Maintenance, Computer and Office Machine Repair and Maintenance, Communication Equipment Repair and Maintenance, Other Electronic and Precision Equipment Repair and Maintenance, Home And Garden Equipment Repair And Maintenance, Appliance Repair And Maintenance, Reupholstery And Furniture Repair, Footwear And Leather Goods Repair, Other Personal And Household Goods Repair And Maintenance
Many personal services employers in Europe, especially in the UK are increasingly offering zero-hours contracts to deal with uncertain consumer demand. Zer0-hours contracts also known as casual contracts enable companies to employ staff without giving a work guarantee. Employees are given little notice before shifts, they are called to work whenever there is “piece work “or “contract work”, and they are generally not offered leaves and other employee benefits. These contracts are increasingly becoming popular owing to the flexibility it offers to both employers and employees. For instance, according to the Office for National Statistics, the UK’s independent producer of official statistics, in 2022, workers with zero-hour contracts reached 1 million in the UK, which was approximately 3.2% of the total working population. Thus, a significant proportion of these employees are expected to be from the personal services industry which often employs freelancers on a non-contractual basis.
The repair and maintenance market report table of contents includes:
1. Executive Summary
2. Report Structure
3. Repair and Maintenance Market Characteristics
4. Repair and Maintenance Market Product Analysis
5. Repair and Maintenance Market Supply Chain
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26. Key Mergers And Acquisitions In The Repair and Maintenance Market
27. Market Background: Services Market
28. Recommendations
29. Appendix
30. Copyright And Disclaimer
Top Major Players:
- LKQ Corporation
- LeasePlan Corporation N.V.
- Xerox Corporation
- ADNOC
- Monro Muffler Brake
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