Press release
Global Automotive Repair and Maintenance Market to Reach $1469.64 Billion by 2029, Growing at 8.7% CAGR
Automotive Repair and Maintenance
Car maintenance service providers are progressively deploying diagnostic instruments in client's automobiles to enhance their service packages. Tools like on-board diagnostics are applied to monitor the state of the vehicle and to identify potential issues through examinations. For example, Koovers, a car maintenance service company, offers an on-board diagnostics tool for its subscribed clients. Their call center receives the error generated by the gadget and engages with the customer for necessary repair work. This allows garages to check for required car components even before the car is serviced hence reducing waiting time.
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What is the projected compound annual growth rate (CAGR) of the automotive repair and maintenance market from 2025 to 2034, and what factors influence it?
In recent times, there has been a significant expansion in the size of the automotive repair and maintenance market. The market, which stood at $960.98 billion in 2024, is predicted to escalate to $1051.52 billion in 2025, with a compound annual growth rate (CAGR) of 9.4%. Factors contributing to this growth during the historic period include an increase in disposable income, heightened environmental concerns about e-waste leading companies to recycle automotive parts, substantial economic rise in emerging markets, and swift urbanization.
The market size of the automotive repair and maintenance sector is forecasted to witness significant growth in the upcoming years. It is predicted to reach a worth of $1469.64 billion in 2029, boasting a compound annual growth rate (CAGR) of 8.7%. This projected growth within the forecast period is due to factors such as an increasing commitment to sustainability, a rise in vehicle breakdown rates and the economical advantages of repairing old vehicles. Other contributing influences include stricter government regulations regarding automotive waste and the escalating costs associated with buying new vehicles. The forecast period will also see key trends like the adoption of predictive maintenance measures in vehicles, the inclusion of improved safety features, incorporation of advanced technology into service delivery, utilization of big data analytics tools for real-time operations in businesses, and a focus on mergers and acquisitions to broaden revenue streams and market presence.
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How are the latest trends influencing the growth of the automotive repair and maintenance market?
Companies that provide car repair and maintenance services are progressively applying AI-based automated vehicle inspection systems to facilitate vehicle check-ups. These sophisticated systems take multifarious photos of the vehicle as it moves into the cabin and sends them to a central processing unit, where they are compared against established standards to detect areas of concern. The system generates a detailed report highlighting all issues identified within the car and proposing necessary remedial actions. Such an exemplification occurred in January 2024, when the American tech firm, Amazon, debuted its AI-Powered Automated Vehicle Inspection (AVI) tech. The AVI tech capitalizes on advanced AI to spot irregularities in delivery vans early on, preventing potential safety hazards and enhancing fleet durability and safety. By collaborating with UVeye, this system facilitates automated inspections, identifying hard-to-catch problems like tire defects. It provides fleet managers with all-inclusive data, thus enabling them to identify recurrent issues, enhance route safety, and avoid potential breakdowns. The scalability of AVI ensures safety across Amazon's extensive delivery network, which currently manages over 20 million packages daily.
What are the major segments of the automotive repair and maintenance market and their role in driving growth?
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 Or Body Shop, Others
Subsegments:
1) By Automotive Mechanical And Electrical Repair And Maintenance: Engine Repair And Maintenance, Transmission Repair, Brake System Repair, Electrical System Repair, HVAC System Repair, Suspension And Steering Repair
2) By Automotive Body: Collision Repair, Dent Repair, Frame Straightening, Body Panel Replacement
3) By Paint: Scratch and Dent Touch-Up, Full Repainting, Clear Coat Restoration, Custom Paint Jobs
4) By Interior: Upholstery Repair, Dashboard Repair, Carpet Replacement, Seat Reupholstering
5) By Glass Repair: Windshield Replacement, Chip Repair, Window Tinting, Side and Rear Glass Replacement
6) By Other Automotive Repair And Maintenance: Tire Repair And Replacement, Routine Maintenance (Oil Changes, Filter Replacements), Diagnostic Services, Performance Upgrades And Modifications
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Which regions are key players in the growth of the automotive repair and maintenance market?
Western Europe was the largest region in the automotive repair and maintenance market in 2024. 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
Who are the key firms paving the way for growth in the automotive repair and maintenance market?
Major companies operating in the automotive repair and maintenance market include LKQ Corporation, Belron International Ltd., Monro Muffler Brake, Asbury Automotive Group Inc., Lookers PLC, Halfords, ComfortDelGro Corporation, Nextage Co., Ltd., Bigmotor Co., 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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What Is Covered In The Automotive Repair and Maintenance Global Market Report?
•Market Size Forecast: Examine the automotive repair and maintenance market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive repair and maintenance market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive repair and maintenance market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive repair and maintenance market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive repair and maintenance market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive repair and maintenance market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive repair and maintenance market.
•Competitive Landscape: Review strategic developments in the automotive repair and maintenance market, including expansions, agreements, and new product launches.
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