Authorized Car Service Center Market By Region (APAC, Europe, U.S.) – Key Players Toyota Motor Corporation, BMW Group, Volkswagen AG, Groupe Renault, Hyundai Motor Brasil, American Honda Motor, 3M

Authorized Car Service Center Market for body segment is expected to account for approximately 27.5% of the revenue share by 2024. The rising traffic in urban areas leads to substantial risk of small dents and scratches, resulting in minor refurbs for reinstating the vehicle to the original condition offering growth potential to the authorized car service center market share. Customized body parts and paints modification options, such as black roofs, vinyl stickers, and others, will also play a key role in the segment growth.

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According to a new research report by Global Market Insights, Inc. the Authorized Car Service Center Market to surpass USD 247 billion by 2024.

The passenger cars with vehicle age of over three years will pose a CAGR of more than 3% over the forecast time span. Wear & tear of parts due to the vehicle age and frequent maintenance requirements are driving the authorized car service center market growth. Government regulations regarding the pollution levels from old vehicles will make the owners of such vehicles to modify parts and service their vehicles at regular intervals, contributing toward the industry’s revenue share.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Bosch
2. 3M
3. Mahindra First Choice Services
4. Castrol
5. MyTVS
6. Mobil1
7. Carz Care
8. Carnation Auto
9. Honda
10. Hyundai
11. Renault
12. Volkswagen
13. BMW
14. Toyota
15. Maruti Suzuki

Authorized Car Service Center Market, By Service

• Engine
• Transmission
• Brakes
• Suspension
• Electrical
• Body
• Others (tires, accessories, belts)

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Organized multi-brand car service center segment is likely to show a significant growth rate of over 2.5% from 2018 to 2024. This growth can be credited to low labor cost as compared to OEM service centers. Transparent pricing estimates, quality spare parts, warranties, occasional offers, and discounts will further boost this service penetration.

Enhancing customer trust level accompanied with improved service support from licensed automobile workshops will boost the authorized car service center market size till 2024. The presence of innovative tools & machinery along with skilled technical experts will further escalate the service adoption. Rapid urbanization along with rising disposable income in emerging economies, particularly in Asia Pacific, will stimulate the business revenue.

Asia Pacific authorized car service center market will exhibit 3.8% CAGR during the study period. Road infrastructure development in countries, such as India, China, and others, and increasing accidents due to the more number of vehicles running on-road will pave growth opportunities for the industry across the region. The increasing demand for vehicles and the emphasis on personal mobility will play a vital role in improving the industry size.

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3M, Bosch, Carnation Auto, Carz Care, Castrol, Mahindra First Choice Services, Mobil1, and MyTVS are among the prominent multi-brand participants in authorized car service center market.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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