Press release
Malaysia Automotive Aftermarket Service Market is expected to reach about USD 6.8 Bn in Revenue by 2025: Ken Research
• The OEM/Authorized car service market is anticipated to grow with a CAGR of 11.7% during the forecast period 2020-2025.
Surging Vehicle Parc in Malaysia: Malaysian automotive industry is witnessing a growth in the number of vehicle parc, which is leading to higher demand for the multi-brands and OEM car service companies in Malaysia. ~65% of the vehicle parc in Malaysia in 2020 comprised of post-warranty cars that generally visit multi-brand car service centers. Whereas, the pre-warranty cars in the country prefer visiting the OEM car service centers. Multi-brand service centers cost ~40% less as compared to the authorized car service center which is the major reason for consumers to shift to the multi-brand service center during the post-warranty period. The car parc is anticipated to witness a CAGR of 1.1% during the forecast period 2020-2025.
Technological Advancement in Car Service Industry in Malaysia: Car servicing companies in Malaysia have started to become technologically advanced, by adopting technologies such as live end-to-end updates, service tracking, round-the-clock grievance redressal, online booking, and others. Technological up-gradation by the car servicing companies in Malaysia is leading to an increased demand for car service from customers. The ease of booking a car service and tracking the service status has lead consumers to visit the service center for regular or minor car maintenance as well.
Strong Used Car Sales growth: Malaysia is witnessing a growth in the used car sales, which is contributing to the rising average age of cars in the country, therefore an impetus for the car service market. Lack of car components such as electronic chips in Malaysia in 2020 had raised issues such as the production of new cars and delay in delivery in the short to medium term, leading to increased demand for used cars. Shifting the focus of consumers from purchasing new vehicles towards maintaining old ones is leading to a surge in the on-road used cars which is leading to greater demand for multi-brand car servicing. The Malaysian used cars market is anticipated to witness a CAGR of 2.1% in terms of the number of used cars sold during the forecast period 2020-2025.
The report titled “Malaysia Automotive Aftermarket Service Market Outlook to 202: Surging Used Car Sales contributing to the Growth of Automotive Aftermarket Service Industry in Malaysia” by Ken Research suggested that the automotive aftermarket service market is further expected to grow in the near future with the surging used car sales and entry of new players in the market. The market is expected to register a positive CAGR of 3.1% in terms of revenue during the forecast period of 2020-2025.
For More Information on the Research Report, Click on the Below Link: -
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/malaysia-automotive-aftermarket-service-market-outlook-to-2025/427145-100.html
Key Segments Covered in Malaysia Automotive Aftermarket Service Market
By Type of Workshop
Multi Brand
OEM/Authorized
By Type of Multi Brand
Organized
Unorganized
By Type of Vehicle
Sedan
Hatchback
SUV
MPV
By Age of Car
0-5 Years
5-10 Years
10 and above years
By Region
Central
East
South
North
By Car Brand
Perodua
Proton
Honda
Toyota
Others
By Booking Mode
Online
Offline
By Service Split
Maintenance
Repair and Replacement
Body Care
Malaysia Spare Parts after Market Segmentation
By Type of Spare Parts
Electricals and Electronic Components
Suspension and Braking
Consumables and Miscellaneous
Cooling Systems
Rubber Components
Drive transmission and Steering
Others
Key Target Audience
Automotive companies
OEM Car Service companies
Multi brand Car Service companies
Automotive Spare Parts Companies
Time Period Captured in the Report:
Historical Period: 2015-2020
Forecast Period: 2020-2025
OEM Car Dealers/Service Providers:
Perodua
Proton
Honda
Toyota
Nissan
Mitsubishi
Multi Brand Car Dealers/Service Providers:
Dtox
Prestige Cars
Topbest Car Grooming
Autohaus KL
Top Speed
Auto Mobile Garage
Key Topics Covered in the Report: -
Malaysia Automotive Aftermarket Service Industry Overview
The ecosystem of Entities in Car Servicing in Malaysia
Trends and Development in Malaysia Automotive After Market Service Industry
Issues and Challenges in Malaysia Automotive After Market Service Industry
Porters Five Forces Analysis: Automotive Aftermarket Service in Malaysia
Government Regulation in Malaysia Automotive After Market Service Industry
Market Size of Malaysia after Market Service Industry
Malaysia Automotive Aftermarket Service Industry Segmentation
Competition in Malaysia OEM Aftermarket Industry
Strength and Weakness of Major Players in Malaysia OEM Automotive Aftermarket Industry
Competition in Malaysia Multi-Brand Aftermarket Industry
Pricing Comparison of Major OEM Car Service Companies
Pricing Comparison of Major Multi Brand Car Service Companies
Operating Model of Organized and Unorganized Workshops
Operating Model of OEM Workshops
Malaysia Spare Parts Aftermarket Industry Overview
Sourcing Spare Parts for Automobile Service Centers (OEM/Authorized Service Centers & Multi-Brand Service Centers)
Malaysia Automotive Aftermarket Car Service Market Future Market Size
Future Outlook and Projections for Malaysia Automotive Service Market
Case Study: Autohaus KL
Analyst Recommendation
Related Reports by Ken Research: -
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/india-multi-brand-car-service-market-outlook-to-2025/426088-100.html
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/indonesia-used-car-market-outlook-to-2025/412166-100.html
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/ksa-automotive-industry-outlook-to-2025/401374-100.html
Contact Us: -
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a research based management consulting company. We provide strategic consultancy to aid clients on critical business perspectives: strategy, marketing, organization, operations, technology, transformation, digital, advanced analytics, corporate finance, mergers & acquisitions and sustainability across all industries and geographies.
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