Automotive Service Market will reach at $34.3 billion by 2032, Development Data, Growth Analysis & Forecast 2022 to 2028 -Firestone Complete Auto Care, Arnold Clark Automobiles, Jiffy Lube International, Goodyear Tire&Rubber Company, Pendragon, Halfords G

Automotive Repair & Maintenance Services Market size exceeded USD 685.25 billion in 2021 and is estimated to exhibit over 5% CAGR from 2022 to 2028. Automotive Service Market will reach at $34.3 billion by 2032,The increasing vehicular age will positively impact the industry growth, since aged vehicles are more likely to require frequent maintenances and replacement parts. Moreover, the increasing demand for shared mobility is one of the key factors increasing the yearly maintenance spending on cabs or shared vehicles owing to a higher yearly distance driven.
New Jersey, United States,- The latest report published by MR Accuracy Reports indicates that the Automotive Service Market is likely to accelerate strongly in the coming years. Analysts have studied market drivers, restraints, risks, and opportunities in the global market. The Automotive Service Market report shows the likely direction of the market in the coming years along with its estimates. An accurate study aims to understand the market price. By analyzing the competitive landscape, the authors of the report have made excellent efforts to help readers understand the key business tactics that major companies are using to maintain market sustainability.

Key Players Mentioned in the Automotive Service Market Research Report: Firestone Complete Auto Care, Arnold Clark Automobiles, Jiffy Lube International, Goodyear Tire&Rubber Company, Pendragon, Halfords Group, Belron International, Monro, Lookers Plc, Asbury Automotive Group, Carmax Autocare Center, Safelite Group, Meineke, Midas

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Large passenger cars are being used worldwide to surge industry proliferation
The passenger cars segment is poised to hold nearly 65% of the automotive repair & maintenance services market share by 2028. According to Japan Automobile Manufacturers Association (JAMA), the global passenger cars in use was nearly 72% of the total automotive vehicle parc. In emerging countries including China, India, and Mexico, the potential of passenger cars in use is slated to increase prominently led by the growing middle class, a young population, and increasing household incomes. Furthermore, passenger car travel allows medical assistance and home care as well as a range of other emergency services.

Automotive Service Market

Mechanical, Exterior and Structural, Electrical and Electronics.

Application as below

Passenger Vehicle, Commercial Vehicle

he local garage segment is expected to generate more than USD 320 billion revenue by 2028. These outfits typically incorporate various service bays to provide repair & maintenance services for a wide range of vehicles, ranging from hatchbacks, SUVs, and sedans to MPVs including two-wheelers. Lower overhead costs significantly contribute to the lowering of overall service charges. Effective communication and independent mechanics enable improved customer relationship and foster goodwill among customers. The ability to serve multiple vehicle brands and an easier availability of spare parts are further propelling the market demand.


Tires & wheels repair & maintenance to dominate in the mechanical segment
The tires & wheels segment is predicted to capture about 30% of the mechanical automotive repair & maintenance services market share by 2028. The tire & wheels demand is stronger in commercial vehicles due to the lucrative growth in faster deliveries in the e-commerce industry and motorcycle tires owing to their lower product life cycle. However, the COVID-19 pandemic has negatively impacted the sale of tires & wheels in the aftermarket impelled by lower road freight transport globally.

The regional analysis section of the report allows players to concentrate on high-growth regions and countries that could help them to expand their presence in the Automotive Service market. Apart from extending their footprint in the Automotive Service market, the regional analysis helps players to increase their sales while having a better understanding of customer behavior in specific regions and countries. The report provides CAGR, revenue, production, consumption, and other important statistics and figures related to the global as well as regional markets. It shows how different type, application, and regional segments are progressing in the Automotive Service market in terms of growth.

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Automotive Service Market Report Scope

ESTIMATED YEAR 2022

BASE YEAR 2021

FORECAST YEAR 2029

HISTORICAL YEAR 2020

UNIT Value (USD Million/Billion)

Some of the major findings of the automotive repair & maintenance services market report include:

With rising workshop mergers and growing e-commerce platforms, an increasing number of companies want to purchase products directly from manufacturers or suppliers. Parts manufacturers have built-up capabilities, such as a country level distribution system, for providing customer services.

The COVID-19 pandemic has accelerated the overall automotive repair & maintenance services as recession and job concerns have reduced the overall automotive vehicle sales, resulting in further aging of existing fleets. The automotive repair & maintenance services market declined by nearly 50% during the lockdowns of March and April 2020; however, it bounced back quickly, and the overall market only declined by 8.4% by the end of 2020.

Latin America is at a nascent stage and will foresee steady growth owing to the growing landscape of the fleet management and vehicle leasing industry. The rising prominence of industry players expanding their retail and automotive repair facilities will further support the industry expansion.

The schedule repair service segment is growing at a substantial rate owing to increasing automotive vehicle sales. Schedule repair service includes various inspection & replacement works such as oil & filter changes, spark plug repairs, air-conditioning, and brake services & repairs.

North America (USA and Canada)
Europe (UK, Germany, France and the rest of Europe)
Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
Latin America (Brazil, Mexico, and the rest of Latin America)
Middle East and Africa (GCC and rest of the Middle East and Africa)

Market Dynamics- Restraints

Increased costs associated with repair and maintenance services are expected to restrain growth of the global automotive repair and maintenance services market
Increasing technical complexity associated with vehicles and automotive parts has resulted in a high cost of maintenance and repair services. Moreover, increasing labor costs worldwide coupled with the reluctance of consumers to adopt to these high-cost services are expected to restrain the global automotive repair and maintenance services market in the near future. As per the primary interviews conducted with key opinion leaders, the annual passenger car maintenance cost per unit is expected to increase up to 2X over the forecast period.

Inconsiderate attitude towards maintenance and repair services is expected to hamper the global automotive repair and maintenance services market growth during the forecast period
Many car owners in emerging economies such as China, Brazil, India, and South Africa are unwilling to invest in preventive maintenance, which results in high costs. Majority of car owners get their vehicle serviced and parts replaced under the warranty period. However, owners invest very little in service post-warranty period. This is mainly due to the careless attitude of vehicle owners towards vehicle safety and more focus on saving additional expenditure in preventive maintenance. As per the primary interview conducted with one of the leading automotive dealers in India, less than 30% of customers get their oil & filter changed according to miles driven or as recommended by the manufacturer. Thus, these factors are expected to hamper the market growth in the near future.

Market Opportunities

Local shop owners can capitalize on untapped potential by providing a full range of services
Majority of shop owners do not offer a complete range of repair and maintenance services. However, they can follow a competitive strategy of specializing in any particular service or increase the number of services they are providing. Furthermore, local shop owners can collaborate with fleet operators and leasing firms to provide repair and maintenance services at discounted prices.

Authorized dealership owners can provide maintenance services at lucrative price
Majority of customers believe that authorized dealerships shops offer maintenance and repair services at significantly higher cost as compared to local shop owners. Thus, authorized shop owners need to offer services at lucrative prices to customers, in order to expand their consumer base. The authorized dealer shops are mostly preferred by the new vehicle owners as they enjoy warranty protection, thus authorized dealers are preferred for cars younger than 4 years. However, they need to focus on customer base with old cars by offering them service packages for lifetime with lower prices.

Key questions answered in the report:

Which are the five top players of the Automotive Service market?
How will the Automotive Service market change in the next five years?
Which product and application will take a lion's share of the Automotive Service market?
What are the drivers and restraints of the Automotive Service market?
Which regional market will show the highest growth?
What will be the CAGR and size of the Automotive Service market throughout the forecast period?
Note - To provide a more accurate market forecast, all our reports will be updated prior to delivery considering the impact of COVID-19.

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