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Authorized Car Service Center Market Landscape 2025: Forecast Data and Growth Strategy Insights
Authorized Car Service Center Market
What Is the Expected CAGR for the Authorized Car Service Center Market Through 2025?
In recent times, the authorized car service center market has witnessed a robust expansion. From a value of $233.24 billion in 2024, it is projected to escalate to $248.04 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.3%. Factors such as rising vehicle ownership, growing complexity of vehicles, availability of warranty and service packages, adherence to manufacturer standards, and a heightened emphasis on vehicle safety have contributed to the growth experienced in the historic period.
What's the Projected Size of the Global Authorized Car Service Center Market by 2029?
The market size for authorized automotive service centers is set to witness robust growth in the coming years, projected to reach $318.05 billion in 2029 with a compound annual growth rate (CAGR) of 6.4%. This escalation can be ascribed to various factors such as an increasing number of electric vehicles, advancements in auto technologies, rising car subscription services, an emphasis on environmental sustainability, and the implementation of digital service platforms in the forecast period. Significant trends set to shape this period include a strong focus on sustainable practices, the advent of subscription-model services, investment in training and skills enhancement, initiatives towards brand loyalty programs, and incorporation of augmented reality (AR) into service processes.
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Top Growth Drivers in the Authorized Car Service Center Industry: What's Accelerating the Market?
The burgeoning growth of the automobile sector is anticipated to accelerate the expansion of the authorized automobile service center market in the future. The term "automobile industry" pertains to entities involved in the making, distribution, retail sale, and maintenance of automobiles. Ensuring vehicles get original OEM (Original Equipment Manufacturer) parts and valid services, these vehicles are managed at an authorized service center post-purchase. Thus, the accelerated growth of the automobile sector necessitates an abundance of authorized service centers to offer legitimate and improved services, in turn bolstering the authorized car service center market. For instance, as per the International Energy Agency (IEA), a France-based independent intergovernmental organization, electric car sales in 2023 exceeded those in 2022 by 3.5 million, marking a 35% annual growth. As a result, the escalating growth of the automobile sector is expected to propel the expansion of the authorized car service center market within the projected time frame.
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What Trends Will Shape the Authorized Car Service Center Market Through 2029 and Beyond?
The significant trend emerging in the authorized car service center market is the advancement in technology. Major firms in the sector are channeling their resources into the development of cutting-edge technologies. For example, Volvo Car Corporation, a luxury car manufacturer based in Sweden, unveiled UVeye, an automated vehicle inspection technology in March 2022. This particular technology is characterized by its quick, camera-based systems that inspect tires, undercarriages, and the exterior of vehicles for deficiencies, missing components, and other safety concerns. The automated inspection process is much faster than traditional manual checks, with results available within seconds.
What Are the Main Segments in the Authorized Car Service Center Market?
The authorized car service center market covered in this report is segmented -
1) By Auto Body Workshop: OEM Authorized Workshops, Organized Multi-Brand Service Providers
2) By Service: Engine, Transmission, Brakes, Suspension, Electrical, Body, Tire, Belts And Accessories
3) By Vehicle Age: Less Than Three Years, More Than Three Years
Subsegments:
1) By OEM Authorized Workshops: Brand-Specific Service Centers, Manufacturer-Owned Workshops, Franchise Dealerships
2) By Organized Multi-Brand Service Providers: Independent Multi-Brand Service Chains, National Service Providers, Regional Service Networks
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Which Top Companies are Driving Growth in the Authorized Car Service Center Market?
Major companies operating in the authorized car service center market include 3M Company, Volkswagen AG, Toyota Motor Corporation, Bayerische Motoren Werke AG, Suzuki Motor Corporation, Robert Bosch GmbH, Castrol Limited, Honda Motor Co. Ltd., Hyundai Motor Company, Carmozo Mobility Pvt. Ltd., Carxpert Services Pvt. Ltd., Carnation Auto India Pvt. Ltd., The Lansdowne Motor Company Limited, Renault Group, Automovill Technologies Private Limited, Mahindra First Choice Services Limited, TVS Automobile Solutions Private Limited, ExxonMobil Corporation, Carz Limited, Lansdowne Automobile, Meineke Car Care Centers LLC, Tilden International Inc., Groupe Renault, Mobil1 Car Care, Maruti Suzuki India Limited, Mercedes-Benz, Michelin SCA., Nissan Motor Co. Ltd., Porsche AG, Skoda Auto, Volvo Cars, Yokohama Rubber Co. Ltd.
Which Regions Will Dominate the Authorized Car Service Center Market Through 2029?
North America was the largest region in the authorized car service center market in 2024. The regions covered in the authorized car service center market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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