Repair and Maintenance Market Growth Accelerates: Strategic Forecast Predicts $2341.56 Billion by 2029

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Repair and Maintenance Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for repair and maintenance has seen robust growth in the past few years. It is set to expand from $1587.84 billion in 2024 to $1725.32 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 8.7%. Factors such as aging of equipment, economic circumstances, adherence to regulations, preventive maintenance measures, environmental issues, and investment in infrastructure have contributed to growth during the historic period.

Repair and Maintenance Market Size Forecast: What's the Projected Valuation by 2029?
Over the coming years, significant expansion is projected for the repair and maintenance market. By 2029, it is anticipated to reach a market size of $2341.56 billion, growing at a compound annual growth rate (CAGR) of 7.9%. This growth over the forecast period can be credited to factors such as emphasis on asset management, compliance to health and safety standards, energy efficiency, circular economy initiatives and supply chain resilience. Key trends during this forecasted timeframe include the use of predictive maintenance technologies, digital work order management, the application of augmented reality (AR) for training, alliances with OEMs, and the incorporation of artificial intelligence.

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What Are the Drivers Transforming the Repair and Maintenance Market?
The increasing awareness of sustainability and the dedication to diminish waste will lead to a surge in the repair and maintenance of various machines, devices, or vehicles, fostering the repair and maintenance market's growth. The issue of waste emerging from disposed of devices, equipment, or vehicles, along with their parts, is becoming more prominent in both developed and developing nations worldwide. This waste can potentially harm both humans and the environment due to its toxic substances. For instance, a 2022 survey by GWI, a UK-based audience research firm, found that 44% of global consumers make an effort to recycle electronics. Furthermore, separate research indicated that roughly 53% of young consumers are not only aware of recycling's importance but actively engage in promoting it in daily life. Individuals are also increasingly concerned about the environmental impact of their discarded items, leading them to repair or reuse them. Thus, the escalating awareness of sustainability is anticipated to propel the market's growth.

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What Long-Term Trends Will Define the Future of the Repair and Maintenance Market?
A rising number of employers in the repair and maintenance sector, particularly in the UK, are adopting zero-hours contracts as a solution to uncertain customer demand. These casual contracts allow businesses to utilise staff without assuring them of consistent work. Employees don't get much advance notice for shifts, they are summoned as per the needs of 'piece work' or 'contract work' and typically, there is no provision for leave and other staff advantages. The popularity of such contracts is growing due to the adaptability it provides to both the workforce and employers. For instance, data from the Office for National Statistics, an independent producer of official statistics in the UK, revealed that in 2022, the number of employees on zero-hour contracts hit 1 million, which is approximately 3.2% of the total workforce. Hence, it can be inferred that a significant segment of these workers could be from the repair and maintenance sector, which frequently hires freelancers without a formal contract.

Which Segments in the Repair and Maintenance Market Offer the Most Profit Potential?
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 Firms Dominate the Repair and Maintenance Market by Market Share and Revenue in 2025?
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

Which Regions Offer the Highest Growth Potential in 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.

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