Press release
Leading Companies Fueling Growth and Innovation in the Automotive Service Market
Automotive Service Market
Projected Expansion of the Automotive Service Market by 2029
The automotive service market is anticipated to grow substantially, reaching a value of $931.26 billion by 2029. This growth is expected to occur at a compound annual growth rate (CAGR) of 5.2%. Several factors contribute to this positive outlook, including the expansion of the leisure and tourism sectors, increasing automobile production and sales, rising demand for commercial vehicles, and greater adoption of electric vehicles. Additionally, the integration of artificial intelligence (AI) in automated vehicle technologies is playing a significant role in driving growth. Key market trends expected to shape the industry through the forecast period include AI-enhanced vehicle inspection systems, technological convergence, advancements in automotive software, the blending of traditional mechanical components with new tech, and strategic collaborations and partnerships.
Download a free sample of the automotive service market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=15732&type=smp
Top Companies Leading the Automotive Service Industry
The automotive service landscape is dominated by a group of influential companies. These include Volkswagen Group, Toyota Motor Corporation, Ford Motor Company, General Motors, Honda Motor Co. Ltd., Hyundai Motor Company, Robert Bosch GmbH, Tesla Inc., Kia Corporation, and Denso Corporation. Other key players are Carmax Autocare Center, Bridgestone Corp., Faurecia SE, Lear Corporation, Asbury Automotive Group Inc., Mahindra and Mahindra Automotive, Firestone Natural Rubber Company LLC, Belron International Ltd., Inter Cars S.A., Driven Brands Holdings Inc., Halfords Group plc, Monro Inc., Safelite Group Inc., Jiffy Lube International Inc., and Midas International LLC.
Recent Strategic Moves in the Automotive Service Sector
In August 2023, Cox Automotive Inc., a US-based software firm, acquired Corcoran's Mobile Services (CMS) for an undisclosed sum. This acquisition aims to broaden Cox's service portfolio by enhancing its mobile vehicle maintenance and repair capabilities. Corcoran's Mobile Services specializes in tire repairs, budgeting, body replacement, and on-site preventive maintenance, offering customers convenient automotive services directly at their location, which aligns with the growing trend of mobile vehicle care solutions.
View the full automotive service market report:
https://www.thebusinessresearchcompany.com/report/automotive-service-global-market-report
Innovations Leading Change in the Automotive Service Industry
Automotive service companies are actively pursuing innovations to improve convenience, efficiency, and quality in vehicle care. One area of focus is tire-changing technology, which includes various tools and processes designed to simplify the removal and installation of tires. For example, in November 2023, Kwik Fix Auto Pvt. Ltd., an India-based firm, launched a mobile Flat Tyre Changer Service called Swift. This service aims to deliver dealership-quality tire changing at the customer's convenience, transforming tire maintenance into a key element of vehicle management beyond just emergency repairs. The offering includes tire fitting, balancing, and comprehensive routine maintenance.
Breakdown of the Global Automotive Service Market by Segments
The automotive service market can be categorized based on several factors:
1) Service Type:
- Maintenance Services
- Mechanical
- Exterior and Structural
2) Provider Type:
- Franchise General Repairs
- OEM Authorized Service Centers
- Local Garage
- Tire Stores and Repair
- Other Providers
3) Application Area:
- Passenger Vehicles
- Commercial Vehicles
Further subcategories include:
- Maintenance Services such as oil changes, tire rotation and balancing, brake inspection and servicing, and fluid replacement.
- Mechanical services covering engine repair, transmission repair, suspension and steering repair, and exhaust system repair.
- Exterior and structural services including body repair, paint services, dent repair, and windshield repair and replacement.
This segmentation offers a comprehensive view of the automotive service market's diverse offerings and highlights the specialized nature of services available to meet varying vehicle maintenance needs.
Reach out to us:
The Business Research Company: https://www.thebusinessresearchcompany.com/,
Americas +1 310-496-7795,
Europe +44 7882 955267,
Asia & Others +44 7882 955267 & +91 8897263534,
Email us at info@tbrc.info.
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
With over 17500+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Leading Companies Fueling Growth and Innovation in the Automotive Service Market here
News-ID: 4322311 • Views: …
More Releases from The Business Research Company
Tow Bar Market Overview, Key Trends, and Major Player Analysis
The tow bar market is positioned for notable expansion in the coming years, driven by various factors that highlight the increasing importance of towing solutions across multiple sectors. As consumer preferences evolve and regulations tighten, this industry is adapting with innovative products and enhanced applications, setting the stage for sustained growth by the end of the decade.
Forecast on the Global Tow Bar Market Size Through 2029
The tow bar…
Future Perspective: Key Trends Shaping the Road Logistics Market Until 2029
The road logistics sector is positioned for consistent growth over the coming years, driven by evolving consumer demands and expanding infrastructure. This industry plays a vital role in supporting various sectors, and its future looks promising as innovations and partnerships reshape how goods are transported on roads worldwide.
Projected Expansion and Market Size of the Road Logistics Market by 2029
The road logistics market is anticipated to reach a value…
Emerging Sub-Segments Transforming the Catenary Infrastructure Inspection Market …
The catenary infrastructure inspection sector is gaining considerable attention as rail networks worldwide demand more reliable and safer services. With rapid technological advancements and increasing regulatory requirements, the market is set for notable growth in the coming years. Let's explore the market's size, key players, driving forces, and emerging trends shaping its future.
Strong Growth Forecast for the Catenary Infrastructure Inspection Market by 2029
The catenary infrastructure inspection market is…
Market Trend Analysis: The Impact of Recent Innovations on the Passenger Car Mar …
The passenger car market is on a path of significant expansion, driven by technological advances and shifting consumer preferences. As the automotive landscape evolves, factors such as electric vehicle adoption and innovative design features promise to reshape how people buy and use passenger cars in the coming years. Let's explore the market size projections, key players, emerging trends, and segment details that define this dynamic industry.
Projected Growth and Market Size…
More Releases for Auto
Auto Leads: Revolutionizing Lead Generation for Auto Detailers
Auto Leads, a digital marketing company specializing in helping auto detailers grow their businesses, has quickly become a leader in lead generation for the industry. Founded by Austin Kennedy, a former auto detailer with three years of hands-on experience, Auto Leads offers a solution to help detailers attract high-quality customers, particularly for premium services like Ceramic Coating.
What Auto Leads Is
Auto Leads focuses on digital marketing solutions for auto detailing businesses,…
Winter Park Auto Repair: Cech Auto Unveils Auto Repair Financing, Expert Service …
Image: https://www.getnews.info/wp-content/uploads/2024/10/1730165920.png
Cech Auto announces the launch of flexible auto repair financing, offering Winter Park customers accessible payment solutions for essential vehicle maintenance and repairs.
A leading Winter Park auto repair [https://www.cechauto.com/] shop, Cech Auto unveils its new auto repair financing option, providing customers with flexible payment solutions for all repair services. With competitive financing plans available, Cech Auto makes essential vehicle maintenance and repairs more accessible, ensuring that customers can address…
Brampton Auto Glass Announces New Comprehensive Auto Glass Solutions
Brampton, Ontario July 24 2024 - Brampton Auto Glass Company, a leading name in auto glass repair and replacement for the Brampton and Mississauga areas, announces a significant expansion of its service portfolio. This enhanced suite caters to the diverse needs of local vehicle owners, ensuring optimal safety and a flawless visual experience on the road.
Unwavering Commitment to Excellence and Customer Satisfaction
Brampton Auto Glass Company prioritizes excellence in everything…
Auto Locksmith America Revolutionizes Auto Locksmith Services Nationwide
Newsdesk, March 22, 2024 - Auto Locksmith America Revolutionizes Auto Locksmith Services Nationwide Employing state-of-the-art tools and technology, the company ensures a seamless, hassle-free experience for clients.
Auto Locksmith America, a prominent auto locksmith company headquartered in Mississippi, unveils its latest suite of services and enticing offers tailored to cater to a spectrum of auto locksmith needs. With nearly 14 years of steadfast service, the company stands as a beacon of…
Auto Chess Game Market | Auto Chess, Dota Auto Chess, Hearthstone, Honor Of King …
The global auto chess game market report is a comprehensive report that provides a detailed analysis of the current status and future trends of the auto chess game market worldwide. This report provides valuable information to industry stakeholders by offering an in-depth perspective on market dynamics, competitive landscape, growth opportunities, and key challenges faced by industry participants.
From the perspective of market dynamics, this report explores the factors driving the growth…
Auto Driveaway Provides Reliable and Safe Auto Shipping Services
FOR IMMEDIATE RELEASE
Philadelphia, PA: Recently, Auto Driveaway has been awarded for being one of the most reliable and secure auto shipping companies in the country by renowned entities. The company has more than 40 offices across the country that helps to track and update every detail about the consignment. Every delivery is managed professionally resulting in scheduled delivery without providing any damage, dent or issues to the vehicle.
The company provides…
