Global Automotive Repair And Maintenance Service
Market Report
2024
The global automotive repair and maintenance services market size is USD 905.8 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 7.60% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, The Global Automotive Repair And Maintenance Service market size is USD 905.8 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 7.60% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Automotive Repair And Maintenance Service Market Sales Revenue 2023 | $ 905.8 Billion |
Global Automotive Repair And Maintenance Service Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 7.6% |
North America Automotive Repair And Maintenance Service Market Sales Revenue 2023 | $ 271.74 Billion |
Europe Automotive Repair And Maintenance Service Market Sales Revenue 2023 | $ 253.62 Billion |
Asia Pacific Automotive Repair And Maintenance Service Market Sales Revenue 2023 | $ 317.03 Billion |
South America Automotive Repair And Maintenance Service Market Sales Revenue 2023 | $ 45.29 Billion |
Middle East and Africa Automotive Repair And Maintenance Service Market Sales Revenue 2023 | $ 18.12 Billion |
Market Split by Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Automotive Repair And Maintenance Service Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Automotive repair and maintenance services refer to a broad range of activities and tasks performed on vehicles to ensure their proper functioning, safety, and longevity. These services encompass routine maintenance, diagnostics, and repair work on various components of automobiles, including cars, trucks, and motorcycles. Advancements in material and technology used for automotive manufacturing has increased the average operational age of vehicles and increasing number of road accidents drive the market growth.
(Source:www.prnewswire.com/news-releases/autonation-completes-the-acquisition-of-repairsmith-301731974.html)
The automotive repair and maintenance services market is influenced by the increasing number of vehicles on the road, which leads to a growing customer base in need of regular maintenance. With the global population expanding, car ownership is also on the rise, creating a larger potential customer base for repair and maintenance services. Additionally, the aging vehicle fleet is a significant factor, as older vehicles often require more frequent repairs and maintenance, creating sustained demand for services such as tune-ups, brake repairs, and engine diagnostics.
In June 2022, MyTVS Accessories, a car accessories brand owned by TVS Automobile Solutions Pvt. Ltd., introduced the "Life360" digital platform. This platform offers a range of auto repair services to customers through a subscription-based model. The three-year subscription is priced at $60 (INR 5,000).
(Source:4psnews.com/digital/41)
The evolving complexity of modern vehicles, equipped with advanced technologies and electronic components, acts as a key driver for the automotive repair and maintenance services market. The integration of sophisticated computer systems, sensors, and complex engine components necessitates specialized skills and equipment for diagnostics and repairs. Consequently, service providers benefit from the increasing demand for expertise in handling technologically advanced vehicles. This trend not only fuels the growth of specialized repair services but also presents opportunities for innovation and investment in training programs to keep up with the evolving automotive landscape.
In June 2022, Wrench, a mobile vehicle services and technology marketplace, acquired YourMechanic, an American business that provides on-site mobile automotive repair and maintenance services to vehicle owners.
One significant restraint in the automotive repair and maintenance services market is the constant evolution of vehicle technologies, which poses challenges for service providers. The rapid integration of electronic systems, hybrid and electric powertrains, and advanced safety features requires ongoing training and upskilling of technicians. The high cost and time associated with keeping the workforce abreast of these technological advancements may strain smaller repair shops, limiting their ability to offer comprehensive services for the diverse range of vehicles on the road.
The COVID-19 pandemic significantly impacted the automotive repair and maintenance services market. During the early stages of the pandemic, there was a decrease in demand due to lockdowns and restrictions causing less vehicle usage. Many consumers delayed or canceled non-essential maintenance services due to financial uncertainties. However, as restrictions eased and people sought alternatives to public transportation, there was a shift in focus towards personal vehicles, leading to increased demand for repairs and maintenance. The industry also experienced changes in consumer behavior, with a growing preference for contactless services, online appointment scheduling, and digital payment options.
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The automotive repair and maintenance services market is characterized by intense competition and a dynamic ecosystem, with key players vying for prominence in this vital industry. Leading service providers are strategically positioned to offer a wide array of services, including tire services, oil services, battery services, and wear and tear parts replacement.
Top Companies Market Share in Automotive Repair And Maintenance Service Industry: (In no particular order of Rank)
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According to Cognitive Market Research, Asia Pacific region emerges as the largest and fastest-growing market for automotive repair and maintenance services, boasting a commanding 35% market share and a projected 317.03 billion USD market size in 2023. This dominance is fueled by an extensive automotive fleet, robust economic activities, and a growing middle class. Covering both passenger cars and the increasing demand for commercial vehicle services, the region's dynamic market reflects a mix of traditional and advanced service providers, showcasing the diversity of the automotive ecosystem. As technology advances and vehicle numbers soar, the key player in the evolving landscape of automotive repair and maintenance services.
North America region stands out as the fastest-growing hub in the automotive repair and maintenance services market, commanding a significant 30% market share and an estimated market size of 271.74 billion USD by 2023. This growth is underpinned by a technologically sophisticated automotive landscape, stringent regulatory standards, and a high level of awareness regarding vehicle maintenance. The segment's diversity encompasses tire services, oil services, battery services, and more, ensuring a comprehensive approach to vehicle upkeep. As North America advances in adopting electric and autonomous vehicles, the region is poised to maintain its accelerated trajectory in the automotive repair and maintenance services sector.
The current report Scope analyzes Automotive Repair And Maintenance Service Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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According to Cognitive Market Research, North America region stands out as the fastest-growing hub in the automotive repair and maintenance services market, commanding a significant 30% market share and an estimated market size of 271.74 billion USD by 2023. This growth is underpinned by a technologically sophisticated automotive landscape, stringent regulatory standards, and a high level of awareness regarding vehicle maintenance. The segment's diversity encompasses tire services, oil services, battery services, and more, ensuring a comprehensive approach to vehicle upkeep. As North America advances in adopting electric and autonomous vehicles, the region is poised to maintain its accelerated trajectory in the automotive repair and maintenance services sector.
According to Cognitive Market Research, Europe stands as a pivotal region in the automotive repair and maintenance services market, boasting a robust growth trajectory. With a substantial market share of 28%, equivalent to a noteworthy 253.62 billion USD in 2023, the region demonstrates a comprehensive overview, catering to a diverse range of automotive services. The European market covers tire services, oil services, battery services, and wear and tear parts replacement with precision and efficiency. As the automotive landscape evolves, the region remains a frontrunner, emphasizing technological advancements and eco-friendly practices. This dynamic and evolving market landscape, coupled with a strategic focus on customer satisfaction, positions Europe as a thriving hub for automotive repair and maintenance services.
According to Cognitive Market Research, Asia Pacific region emerges as the largest and fastest-growing market for automotive repair and maintenance services, boasting a commanding 35% market share and a projected 317.03 billion USD market size in 2023. This dominance is fueled by an extensive automotive fleet, robust economic activities, and a growing middle class. Covering both passenger cars and the increasing demand for commercial vehicle services, the region's dynamic market reflects a mix of traditional and advanced service providers, showcasing the diversity of the automotive ecosystem. As technology advances and vehicle numbers soar, the Asia Pacific region is set to remain a key player in the evolving landscape of automotive repair and maintenance services.
According to Cognitive Market Research, Latin America emerges as a dynamic and growing region in the automotive repair and maintenance services market, securing a substantial 5% market share translating to 45.29 billion USD in 2023. The region's automotive service landscape provides a comprehensive overview, covering tire services, oil services, battery services, and wear and tear parts replacement. Latin America's automotive market thrives on a combination of traditional and modern approaches, catering to a diverse consumer base. With a strategic emphasis on affordability and accessibility, the region navigates through the challenges of maintaining and repairing vehicles, contributing significantly to the global automotive repair and maintenance services market.
According to Cognitive Market Research, Middle East and Africa region asserts itself as a steadily growing market within the automotive repair and maintenance services sector, securing a 2.00% market share equivalent to 18.12 billion USD in 2023. This region's automotive maintenance landscape is marked by a diverse array of services, including tire, oil, battery services, and wear and tear parts replacement. Despite the comparatively modest market share, the Middle East and Africa exhibit a robust commitment to automotive care, fueled by a burgeoning population of vehicle owners. This growth is underlined by a strategic focus on enhancing service accessibility and adopting innovative solutions to meet the evolving needs of the automotive market in the region.
Global Automotive Repair And Maintenance Service Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Automotive Repair And Maintenance Service Industry growth. Automotive Repair And Maintenance Service market has been segmented with the help of its Type, Application , and others. Automotive Repair And Maintenance Service market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, wear and tear parts emerge as the dominant category in the automotive repair and maintenance services market. These components, including brake pads, filters, belts, and wiper blades, experience regular deterioration due to usage and environmental factors. As vehicles age, the demand for replacements of these parts becomes inevitable, constituting a consistent revenue stream for repair and maintenance service providers.
The fastest-growing category in the automotive repair and maintenance services market is battery service. With the rising prevalence of electric and hybrid vehicles, the significance of battery maintenance and replacement has surged. As the automotive industry undergoes a shift toward electrification, there is a growing need for specialized services related to batteries. This includes diagnostics, charging system inspections, and battery replacements. Growing adoption of electric vehicles and the continuous technological advancements in battery technology contribute to the rapid growth of battery services in the automotive repair and maintenance sector.
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According to Cognitive Market Research, the dominant category is passenger cars. The sheer volume of passenger cars on the road, combined with their widespread use for daily commuting and personal travel, ensures a consistent and substantial demand for repair and maintenance services. Passenger cars encompass a diverse range of models and brands, contributing to a broad customer base for service providers. Regular maintenance, preventive care, and repair needs for passenger cars create a steady and reliable market for automotive service providers.
The fastest-growing category in the automotive repair and maintenance services market is commercial vehicles. The growth of e-commerce, logistics, and transportation services has increased the utilization of commercial vehicles, leading to higher wear and tear. The demand for specialized services tailored to the unique needs of commercial vehicles, including trucks and vans, is on the rise. As the commercial vehicle sector expands, the need for efficient and timely repair and maintenance services experiences rapid growth.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Senior Research Analyst at Cognitive Market Research
An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile & Transportation vertical.
With a work experience of over 10+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as sales, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
I am committed to staying ahead in the rapidly evolving field of research and analysis. This involves regularly attending conferences, participating in webinars, and pursuing additional certifications to enhance my skill set. I played a crucial role in conducting market research and competitive analysis. I have a proven track record of distilling complex datasets into clear, concise reports that have guided key business initiatives. Collaborating closely with multidisciplinary teams, I contributed to the development of innovative solutions grounded in thorough research and analysis.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Automotive Repair And Maintenance Service Market is witnessing significant growth in the near future.
In 2023, the Tire service segment accounted for noticeable share of global Automotive Repair And Maintenance Service Market and is projected to experience significant growth in the near future.
The Passenger Car segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Firestone Complete Auto Care , Driven Brands Inc. and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Tire service, Oil service, Battery service, Wear and tear parts, Collision body, Other |
Application | Passenger Car, Commercial Vehicle |
List of Competitors | Firestone Complete Auto Care , Ashland Automotive Inc. , Driven Brands Inc. , Carmax Autocare Center , Sumitomo Corporation , Monro Muffler Brake Inc. , Belron International Ltd. , Goodyear Tire & Rubber Co. , Jiffy Lube International Inc. , MyTVS Accessories , Safelite Group, Sun Auto Service , USA automotive, Wrench Inc. |
This chapter will help you gain GLOBAL Market Analysis of Automotive Repair And Maintenance Service. Further deep in this chapter, you will be able to review Global Automotive Repair And Maintenance Service Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Automotive Repair And Maintenance Service market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Tire service have a significant impact on Automotive Repair And Maintenance Service market? |
What are the key factors affecting the Tire service and Oil service of Automotive Repair And Maintenance Service Market? |
What is the CAGR/Growth Rate of Passenger Car during the forecast period? |
By type, which segment accounted for largest share of the global Automotive Repair And Maintenance Service Market? |
Which region is expected to dominate the global Automotive Repair And Maintenance Service Market within the forecast period? |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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