Repair and Maintenance Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers

What combination of drivers is leading to accelerated growth in the repair and maintenance market?
Increases in sustainability awareness and efforts to reduce waste will likely promote the servicing and upkeep of diverse devices, machinery, or vehicles, thus providing an impetus for the repair and maintenance market. Disposal waste from these items and their components has become an escalating issue in both developed and underdeveloped nations across the globe. Such waste can be detrimental to human health and the environment due to the potential presence of hazardous substances. For instance, a 2022 poll by UK-based audience investigation firm, GWI, revealed that 44% of consumers globally are proactively recycling their electronic devices. Further research indicates that approximately 53% of younger consumers are not just cognizant of recycling's value, but actively endorse it in their everyday activities. Individuals are exhibiting anxiety for environmental contamination caused by their discarded items, thus aiming to restore or repurpose them. Consequently, the augmenting sense of sustainability is anticipated to stimulate market expansion.

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What is the projected compound annual growth rate (CAGR) of the repair and maintenance market from 2025 to 2034, and what factors influence it?
The market size for repair and maintenance has experienced robust growth in the past few years. The market is anticipated to increase from a value of $1587.84 billion in 2024 to approximately $1725.32 billion in 2025, with a compound annual growth rate (CAGR) of 8.7%. Factors that have contributed to expansion during the historical period include aging equipment, economic situations, regulatory adherence, preventative maintenance, environmental issues, and investment in infrastructure.

The market size for repair and maintenance is anticipated to witness robust growth in the coming years. It is projected to reach a value of $2341.56 billion by the year 2029, with a compound annual growth rate (CAGR) of 7.9%. The projected growth during this period is due to an emphasis on asset management, compliance with health and safety standards, energy efficiency, circular economy initiatives, and resilience in the supply chain. The forecast period is expected to see key trends such as the use of predictive maintenance technologies, digitized work order management, application of augmented reality (AR) in training, partnerships with Original Equipment Manufacturers (OEMs), and the incorporation of artificial intelligence.

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How are the latest trends influencing the growth of the repair and maintenance market?
A rising number of employers within the repair and maintenance sector in Europe, particularly in the UK, are turning to zero-hours contracts as a way to handle fluctuating customer demand. These casual contracts allow businesses to staff their operations without having to guarantee set work hours. Workers are often notified shortly before their shifts and are brought in for 'piece work' or 'contract work'. They are typically not granted leaves and other employment benefits. The attractiveness of these contracts is growing due to the flexibility they provide both employers and employees. For instance, data from the Office for National Statistics, the UK's main producer of official statistics, indicated that in 2022, the number of workers on zero-hour contracts in the UK rose to 1 million, representing about 3.2% of the total working population. Therefore, it can be assumed that a considerable number of these employees come from the repair and maintenance industry, which frequently employs freelancers on a non-contractual basis.

What are the major segments of the repair and maintenance market and their role in driving growth?
The repair and maintenance market covered in this report is segmented -

1) By Type: Automotive Repair and Maintenance, Commercial and Industrial Machinery and Equipment Repair and Maintenance, Electronic and Precision Equipment Repair and Maintenance, Personal Goods Repair And Maintenance
2) By Mode: Online, Offline
3) By Service: Off-Site Service, On-Site Service

Subsegments:
1) By Automotive Repair And Maintenance: Engine Repair, Transmission Repair, Brake Repair, Tire Services
2) By Commercial And Industrial Machinery And Equipment Repair And Maintenance: Heavy Machinery Repair, HVAC Maintenance, Electrical Equipment Repair, Industrial Equipment Servicing
3) By Electronic And Precision Equipment Repair And Maintenance: Consumer Electronics Repair, Medical Equipment Maintenance, Computer Repair, Instrument Calibration
4) By Personal Goods Repair And Maintenance: Clothing Alterations, Shoe Repair, Jewelry Repair, Appliance Repair

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Which regions are key players in the growth of the repair and maintenance market?
Asia-Pacific was the largest region in the repair and maintenance market in 2024. Western Europe was the second-largest region in the repair and maintenance market. The regions covered in the 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 repair and maintenance market?
Major companies operating in the repair and maintenance market include Bridgestone Americas Inc., The Goodyear Tire & Rubber Company, Asbury Automotive Group Inc., Sonic Automotive Inc., LKQ Corporation, Emcor Group, LeasePlan Corporation N.V., Firestone Complete Auto Care, Fanuc Corp., Belron, Boyd Group Services Inc., Safelite Group Inc., Valvoline Inc., Driven Brands Inc., Jiffy Lube International Inc., MONRO INC., Les Schwab Tire Centers, Mavis Tire Supply Corporation, ABRA Auto Body & Glass, Service King Collision Repair, Meineke Car Care Centers Inc., American Residential Services, Midas International Corporation, Caliber Holdings LLC, Handyman Connection, Tilden Car Care Centers, CarcareONE, Christian Brothers Automotive Corporation, Kauffman Tire Inc., Transform SR Brands LLC, TBC Corporation

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What Is Covered In The Repair and Maintenance Global Market Report?

•Market Size Forecast: Examine the repair and maintenance market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the repair and maintenance market for a structured understanding.
•Key Players Overview: Analyze major players in the repair and maintenance market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the repair and maintenance market.
•Segment Contributions: Evaluate how different segments drive overall growth in the repair and maintenance market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the repair and maintenance market.
•Industry Challenges: Identify potential risks and obstacles affecting the repair and maintenance market.
•Competitive Landscape: Review strategic developments in the repair and maintenance market, including expansions, agreements, and new product launches.

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