Increasing Technological Advancement to Automotive Service Market Analysis and Top Key Players (Goodyear Tire, Halfords Group, Jiffy Lube, Lookers, Monro, Pendragon, Belron, Midas) | Foreseen Till 2024
Overview of Global Automotive Service Market:
In 2019, the global Automotive Service market size was US$ 448.7 million and it is expected to reach US$ 559.9 million by the end of 2024, with a CAGR of 3.2% during 2020-2024.
In terms of Automotive 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.
The report contains a complete product overview and its scope in the market to define the key terms and provide the clients a holistic idea of the market and its tendency. It comprehensively evaluates the global Automotive Service market with different perspectives for the purpose of providing a detailed, informative, and accurate analysis of regional growth, competition, market segmentation, and other important aspects.
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Growth in the historic period resulted from economic growth in emerging markets, the rise in awareness of the benefits and developed nations towards Automotive Service costs and an increase in the number of original equipment manufacturers platforms for Automotive Service.
Product Type Segmentation:
The Automotive Service market have different product type such as Mechanical, Exterior and Structural, Electrical and Electronics. The Automotive services are expected to be the largest market. Major original equipment manufacturers keep complicated automotive engineering services such as engine design, powertrain design, and transmission systems for development. These designs and optimizations vary from one original equipment manufacturer to another and, thus, require different techniques and specialization that can be done for better results.
Increasing instances across various sectors such as Passenger Vehicle and Commercial Vehicle are raising the need of consulting firm, thereby raising the demand for Automotive Service market. The expansion of autonomous vehicle testing, advancements in artificial intelligence, and introduction of 5G connectivity have increased the demand for connected services in Automotive Services Market.
Segmentation by Regions:
The Automotive Service market in North America has created a platform for Automotive services in the world. The Automotive Service market consists of the original equipment manufacturer Automotive services platforms. It was followed by Western Europe, China, Japan, Southeast Asia, India and Central & South America regions. Asia Pacific is expected to record higher growth rate in Automotive Service Market during the forecast year.
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Top Leading Key Manufacturers are: Firestone Complete Auto Care, Goodyear Tire&Rubber Company, Halfords Group, Jiffy Lube International, Lookers Plc, Monro, Pendragon, Arnold Clark Automobiles, Asbury Automotive Group, Belron International, Carmax Autocare Center, Meineke, Midas, Safelite Group. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Top Industry News:
1 GOODYEAR AUTO SERVICE, JUST TIRES TO REMAIN OPEN NATIONWIDE TO MEET CRITICAL TIRE AND AUTO CARE NEEDS March 23, 2020 - In response to the rapid spread of COVID-19, The Goodyear Tire & Rubber Company today announced changes it is making to meet current customer demand and to help protect the health and wellbeing of its Goodyear Auto Service and Just Tires store teams and guests. These changes will also help to ensure stores can remain open to provide tires and auto care to guests who need them, including law enforcement, first responders and others in essential roles, such as doctors, nurses and grocers.
Changes include temporarily reducing store hours to 8 a.m. - 5 p.m. Monday through Saturday and closing on Sundays. This will enable stores to operate in multiple shifts and limit close personal contact among the store teams and with others where possible while still meeting current customer demand.
"Because of the services we provide, many of our guests, including the law enforcement, first responders and medical workers responsible for protecting public health and safety, rely on us for tire and auto service to keep their vehicles on the road," said Fred Thomas, vice president, Goodyear Retail. "With the continued spread of COVID-19 and the unprecedented challenges facing the community, we are reducing our operating hours to allow us to continue to serve our guests while prioritizing the health and wellbeing of our associates."
Additionally, in states that have issued "Shelter-in-Place" or similar non-essential business closure orders, our stores are expected to remain open as auto service providers deliver essential goods and services.
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Major Points in Table of Contents:
1 Automotive Service Product Definition
2 Global Automotive Service Market Manufacturer Share and Market Overview
2.1 Global Manufacturer Automotive Service Shipments
2.2 Global Manufacturer Automotive Service Business Revenue
2.3 Global Automotive Service Market Overview
3 Manufacturer Automotive Service Business Introduction
3.1 Firestone Complete Auto Care Automotive Service Business Introduction
3.1.1 Firestone Complete Auto Care Automotive Service Shipments, Price, Revenue and Gross profit 2014-2019
3.1.2 Firestone Complete Auto Care Automotive Service Business Distribution by Region
3.1.3 Firestone Complete Auto Care Interview Record
3.1.4 Firestone Complete Auto Care Automotive Service Business Profile
3.1.5 Firestone Complete Auto Care Automotive Service Product Specification
3.2 Goodyear Tire&Rubber Company Automotive Service Business Introduction
3.2.1 Goodyear Tire&Rubber Company Automotive Service Shipments, Price, Revenue and Gross profit 2014-2019
3.2.2 Goodyear Tire&Rubber Company Automotive Service Business Distribution by Region
3.2.3 Interview Record
3.2.4 Goodyear Tire&Rubber Company Automotive Service Business Overview
3.2.5 Goodyear Tire&Rubber Company Automotive Service Product Specification
3.3 Halfords Group Automotive Service Business Introduction
3.3.1 Halfords Group Automotive Service Shipments, Price, Revenue and Gross profit 2014-2019
3.3.2 Halfords Group Automotive Service Business Distribution by Region
3.3.3 Interview Record
3.3.4 Halfords Group Automotive Service Business Overview
3.3.5 Halfords Group Automotive Service Product Specification
3.4 Jiffy Lube International Automotive Service Business Introduction
3.5 Lookers Plc Automotive Service Business Introduction
3.6 Monro Automotive Service Business Introduction
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