Press release
Role Of Malaysia Aging Cars And 500,000 Evs In Automotive Aftermarket Service Market By 2029
Recent Trends Shaping the Market
• Digital platforms that offer online scheduling, service tracking, and clear pricing have an impact on the automotive aftermarket service market in Malaysia. In 2024 more than 55% of car owners in Malaysia chose online services.
• Preventive maintenance has become more common and is supported by local service through campaigns that stress the need to check cars often. In 2024, over 70% of vehicle owners in the country set up routine maintenance every 6-12 months.
• Vehicle owners' growing concern about safety and performance boosts the demand for real spare parts. About 65% of Malaysia's consumers in 2024 looked for original equipment manufacturer (OEM) parts.
• Sustainable and eco-friendly services are gaining popularity among consumers. In 2024, over 40% of workshops have implemented eco-friendly methods aligning with the environmental goals of the country.
• The used car market in Malaysia is increasing by 18% year-on-year in 2024, expanding the aftermarket services demand. According to Malaysian Automotive Association (MAA), the average maintenance cost for the older vehicles have increased by 22% in 2024 this creates opportunity for the service providers.
For Further Detail, Download the Sample PDF and More @ https://www.tracedataresearch.com/sample-report/malaysia-automotive-aftermarket-service-market
The Malaysia automotive aftermarket service market is highly fragmented, with local workshop owners, organised service providers, and global players capturing the market share. The key players dominating the market includes AutoCare Malaysia, Bosch Malaysia, and ZF Friedrichshafen AG, they are investing heavily in innovation to meet the evolving demands. AutoCare Malaysia leads the market by focusing on mobile service units to cater areas with limited or no workshop accessibility. In 2024, they handled over 10,000+ monthly service bookings. Bosch Malaysia focuses on their advanced diagnostic systems by training approximately 5,000 local technicians in 2024 to enhance service quality. The increase in the EV specific services from ZF Friedrichshafen AG is driven by the expanding electric vehicle market along with more than 20% year-on-year growth in EV registrations for 2024. Moreover, 15% electric vehicle adoption by 2030, backed by the government will see the entry of international EV service providers making the competition fierce in the market.
Future Outlook
The Malaysia automotive aftermarket service market is set to change in the coming year. This shift stems from new tech, a push for green practices, and more people buying electric cars. The government's push for cleaner transport means Malaysia could have over 500,000 electric vehicles by 2029. The market is also going digital. By 2029, people will book 75% of their car services online. Furthermore, government is prioritizing sustainability initiative like Malaysia's green agenda which will increase adoption of eco-friendly and energy-efficient tools by 60% of service providers by 2029. The vehicle ageing is also expected to grow by 15%, creating increase demand for maintenance services. The market is expected to be highly organised and technology driven by the end of 2029.
For More Information or Inquiries, Visit @ https://www.tracedataresearch.com/talk-to-us
Consultant at Tracedata Research In their latest publication "Malaysia Automotive Aftermarket Service Market Outlook to 2029: By type of workshop (Multi Brand, Organized, Unorganized, OEM/Authorized), By type of vehicle (Hatchback, MPV, Sedan, SUV), and By booking mode (online, offline)" believe that businesses should establish EV-specific capabilities and adopt AI-powered predictive maintenance solutions to gain competitive edge in Malaysia automotive aftermarket service market.
Related Report by Trace Data: -
https://www.tracedataresearch.com/industry-report/indonesia-automotive-aftermarket-service-market
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TraceData Research is a full-stack market research company founded by research professionals with over 15 years of industry experience. The company is recognized for its proprietary methodologies, deep consumer understanding, high-quality research, and entrepreneurial mindset.
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