Automotive Repair and Maintenance Services Market is estimated to reach a market valuation of US$ 441.3 Bn by 2016 end

According to a new report published by Future Market Insights titled “Automotive Repair and Maintenance Services Market: Global Industry Analysis & Opportunity Assessment, 2016 – 2026”, the global automotive repair and maintenance services market is estimated to reach a market valuation of US$ 441.3 Bn by 2016 end, witnessing a 5.6% CAGR between 2016 and 2026. Automobile dealership owners will continue to hold dominant share in the global automotive repair and maintenance services market accounting for over 25% share of the total market by the end of 2016.
Demand for automotive repair and maintenance services is driven by the increase in vehicle age. With the improvements in material and technology used for automotive manufacturing, the mean age of passenger cars in the U.S. increased from 9 years in 2000 to 11.6 years in 2015. With the rising vehicle sales in the U.S. and Western Europe, the demand for automotive repair and maintenance services is expected to rise exponentially. Also, a reduction in gas and oil prices has led to an increase in the total miles driven by vehicle owners and this being related to vehicle parts wear and tear, there is a growing need for vehicle maintenance and repairs – this is another factor driving the growth of the global automotive repair and maintenance services market.

Request a Sample of this Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-987

Segmentation analysis
Future Market Insights’ report on the global automotive repair and maintenance services market offers useful insights on market performance of the various segments of the global automotive repair and maintenance services market. Some of the highlights of our research reveal the following vital points:
• Demand for various services and parts in the automotive aftermarket such as tires, engine oil, and wear and tear parts will continue to gain traction in the coming years
• The tires segment is forecast to register a CAGR of 7.9% during 2016 – 2026
• The wear and tear parts and engine oil services and parts segments are expected to represent 14.1% and 8.6% shares of the total incremental opportunity in the coming decade
• The automobile dealerships service provider segment is anticipated to be valued in excess of US$ 100 Bn by this year end, witnessing a CAGR of 4% during the forecasted period
• The passenger cars vehicle type segment was the maximum value generating segment in terms of vehicle type in 2015 and is projected to gain significant market share over the forecast period. This segment is anticipated to gain 200 BPS between 2016 and 2026 due to higher sales of passenger cars in the coming years

We Offer tailor-made Solutions to fit Your Requirements, Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-987

How have we segmented the market?
To understand and assess opportunities in the global automotive repair and maintenance services market, we have divided the report into four sections based on market segmentation as under:

By Services and Parts
• Engine Oil
• Gear Oil
• Brake Oil
• Grease
• Tires
• Batteries
• Wear and Tear Parts
• Air Filter
• Cabin Filter
• Oil Filter
• Wiper Blades
• Collision Body
• Starters and Alternators
• Lighting
• Exhaust Components
• Spark Plugs

By Service Provider
• Automobile Dealerships
• Franchise General Repairs
• Specialty Shops
• Locally Owned Repair Shops/Body Shops
• Tire Shops
• Others

By Vehicle Type
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Regional analysis
North America is the largest market for automotive repair and maintenance services accounting for over 26% market share in terms of revenue in the global automotive repair and maintenance services market by the end of 2016. The APEJ automotive repair and maintenance services market is projected to hold significant market share in terms of value in the global automotive repair and maintenance services market over the forecast period, exhibiting a CAGR of 8.6% over the forecast period. This is attributed to increasing vehicle parc in this region and an under developed road infrastructure in many countries of APEJ.

Direct Purchase of this Report@ https://www.futuremarketinsights.com/checkout/987

Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/

About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

This release was published on openPR.