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Automotive Repair and Maintenance Global Market Analysis, Trends, Growth, Research And Forecast 2033
Automotive Repair and Maintenance Global Market
Automotive Repair and Maintenance Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $1381 billion In 2028 At A CAGR Of 8.7% :
The automotive repair and maintenance market size has grown strongly in recent years. It will grow from $907.72 billion in 2023 to $990.04 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to rise in disposable income, increased environmental concerns for e-waste pushing companies to re-use automotive parts, strong economic growth in emerging markets and rapid urbanization.
The automotive repair and maintenance market size is expected to see strong growth in the next few years. It will grow to $1381 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to growing sense of sustainability, growing vehicle failure rate and cost-benefit associated with repairing old vehicle, increasing government regulations for automotive waste management and higher purchase cost of automotive vehicles. Major trends in the forecast period include adopting predictive maintenance solutions in vehicles to reduce breakdowns and improve efficiency by predicting parts failures in advance, implement enhanced safety features in their vehicles to offer safe services for the customers, integrate advanced technology in their services in order to provide quality and efficient safety services, companies should consider implementing big data analytics tools in companies' operations to enhance their real-time operations, focus on mergers and acquisitions to increase revenue and market share, use remote vehicle diagnostic systems to increase the safety of the consumer and also the vehicle, adopt ai solutions, to ultimately reduce r&d costs and save development time, and focus on offering electric vehicles in their portfolio to cater to the growing environmental consciousness among customers.
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Automotive Repair and Maintenance Market Major Segments
The automotive repair and maintenance market covered in this report is segmented -
1) By Type: Automotive Mechanical And Electrical Repair And Maintenance, Automotive Body, Paint, Interior, And Glass Repair, Other Automotive Repair And Maintenance
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Bike And Scooter
3) By Service Provider: Automotive Dealership, Franchise General Repair, Specialty Shop, Locally Owned Repair Shops/Body Shop, Others
Sub segments: General Automotive Repair, Automotive Exhaust System Repair, Automotive Transmission Repair, Other Automotive Mechanical And Electrical Repair And Maintenance, Automotive Body, Paint, And Interior Repair And Maintenance, Automotive Glass Replacement, Automotive Oil Change And Lubrication Shops, Car Washes, All Other Automotive Repair And Maintenance
Key Driver - Revolutionizing Automotive Service On-Board Diagnostics For Enhanced Maintenance
Automotive repair and maintenance service providers are increasingly installing diagnostic devices in customer vehicles to improve their service offerings. On-board diagnostics tools are being used to track vehicle conditions and identify potential problems by running diagnoses. For instance, Koovers, a car maintenance services provider, fits an onboard diagnostics tool for its registered customers. Its call center picks up the error reported by the tool and connects with the customer for required repair work. This enables garages to check for required parts for the car even before the car is brought in for service thus reducing wait time.
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Prominent Trend - Innovative Service Offerings Such As Car Genius Revolutionizing Automotive Maintenance
Major companies operating in automotive repair and maintenance services market are introducing repair and maintenance services such as Car Genius to provide reliable services to the customers. Car Genius is an automotive repair and maintenance service that aims to assist customers in making informed decisions about their vehicle repairs by providing them with valuable insights and recommendations. For instance, in January 2023, Repair Pal, a US-based company that provides automotive repair and maintenance services launched Car Genius service. The service is available to select partners, allowing their customers to benefit from the expertise of Repair Pal's automotive repair professionals.
Automotive Repair and Maintenance Market Players
Major companies operating in the automotive repair and maintenance market report are LKQ Corporation, Belron International Ltd., ADNOC, Monro Muffler Brake, Asbury Automotive Group Inc., Nippon Express Co., Ltd., Lookers PLC, Halfords, ComfortDelGro Corporatio, A2B Australia Ltd, Nextage Co.,Ltd., Bigmotor Co., Ltd., Hitachi Transport System, Ltd., Evergreen Motors, Kothari Auto Link Private Limited, Modi Motors Agencies Private Limited, China Grand Automobile Service Co., Ltd, Xianglong Borui Auto Services (Group) Co., Ltd., Sanhe Group, Changzhou Tourism Automobile Group Co., Ltd, Nanchong Kunhe Automobile Trading Co., Ltd., Kwik-Fit (GB), ATS Euromaster Ltd, Berlin Motor Works, A R German Motors, MAN Truck & Bus Deutschland GmbH, Mobivia SA, Euromaster France SNC, Carglass SAS, Hyundai Motor Manufacturing Rus Limited Liability Company, Nokian Shina Ltd., Arkhangelski Tsbk, Ao, Limited Liability Company Pcma Rus, Tatneft-Azs-Severo-Zapad, Ooo, Llc Bridgestone C.I.S., Societe A Responsabilite Limitee Peugeot Citroen RuS, Midas International, Meineke Car Care Centers, CARSTAR Franchise Systems, AAMCO Transmissions and Total Care, Precision Tune Auto Care, Christian Brothers Automotive, Tuffy Tire and Auto Service, Milex Complete Auto Care/Mr. Transmission, Honest-1 Auto Care, Darlon Wilian Da Silva Gusmao, Ademir Vacari, Auto Socorro Do Careca Ltda, Neutrans S.A., Bosch Car Service, Z F Services Middle East L.L.C, Emrill Services L.L.C, Amana Contracting & Steel Building Company - W L L, Al Naboodah Contracting Co. (L.L.C.), Saeed Mohd. Al Ghandi & Sons, Ag Facilities Solutions L.L.C, Al Futtaim Auto & Machinery Company (Llc) - Famco, Al Shirawi Enterprises (L.L.C.), Yanfeng South Africa Automotive Interior Systems (Pty) Ltd, Germatic Autobody CC, Kempster Sedgwick (Pty) Ltd, Prommac (Pty) Ltd, Federal-Mogul Of South Africa (Pty) Ltd, Tracker Connect (Pty) Ltd
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Largest And Fastest Growing Region In The Market
Western Europe was the largest region in the automotive repair and maintenance market in 2023. Asia-Pacific was the second-largest region in the automotive repair and maintenance market. The regions covered in the automotive repair and maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Repair and Maintenance Market Report Structure
3. Automotive Repair and Maintenance Market Trends And Strategies
4. Automotive Repair and Maintenance Market - Macro Economic Scenario
5. Automotive Repair and Maintenance Market Size And Growth
…..
27. Automotive Repair and Maintenance Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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