The global automotive repair and service market revenue was around US$ 849.8 billion in 2022 and is estimated to reach US$ 1,642.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 7.6% during the forecast period from 2023 to 2031.
Automotive repair and service refer to the repair and maintenance of various automotive services and parts, such as engine oil, gear oil, brake oil, and others. In this service, the auto repair mechanics perform regular checks & services of vehicles and analyze malfunctioning automobiles, determine problems, discuss different options with their customers, and find ways to fix them.
Market Driving Factors
Surging automotive sales are expected to drive the market growth. The automotive industry is racing toward a new world with increasing sustainability, altering customer behavior, connected cars, encompassing electric vehicles, mobility fleet sharing, and enhancing lifestyles. Furthermore, developing nations such as China, Brazil, and India are the most promising nations for the automotive sector. For instance, in March 2022, Tata Motors declared the sale of passenger vehicles increased by 47% in the domestic market. As a result, the governments are putting pressure on the passenger car manufacturers to make low-emission and efficient vehicles, which have extremely pressurized the latter to engage in development and research works. Therefore, the surge in the demand for automotive sales & production is estimated to boost the market.
Surging concern over vehicle security is estimated to boost the market expansion. This is because the surging number of road casualties caused by the breakdown of automotive components has raised awareness among the public regarding the timely repair and maintenance of vehicles. Furthermore, the service life of automotive parts is highly dependent on utilization, as parts have a threshold lifespan. Continuously changing driving conditions warrant timely repair, maintenance, and substitute automotive parts.
Local shop owners can capitalize on untapped possibilities by offering a full range of services in the market. The majority of shop owners do not provide a whole range of maintenance services and repairs. However, they can follow a competitive method of specializing in any particular service or raise the number of services they are offering. As a result, local shop owners can collaborate with fleet operators and leasing companies to offer repair and maintenance services at discounted costs.
An increase in the costs of raw materials is estimated to constrain market growth.
Regional Analysis
North America dominated the market in terms of the largest shares and is estimated to continue its dominance. The requirement for auto repair and maintenance services is significant because of the high rate of auto ownership in the region. Furthermore, a strong automotive repair and maintenance service industry has grown in the region owing to the extensive number of substantial vehicle suppliers and manufacturers that call it home.
Asia Pacific is estimated to dominate the market in terms of the growth rate. This is mainly owing to the surge in emerging economies like India and China, where the middle class is growing and car ownership is increasing. Furthermore, the surging number of vehicles on the road and the increasing number of authorized service facilities opened by major automakers in the region.
Segmentation Insights
In terms of vehicle type insight, the passenger car segment dominates the market in terms of revenue. This is mainly owing to several factors such as increasing customer's disposable income, surging demand for personal vehicles, and increasing urbanization. Furthermore, the average age of automobiles on the road has increased, which has resulted in a demand for maintenance and repairs.
Prominent Companies
Segmentation Outline
The global automotive repair and service market segmentation focuses on the Type, Service Provider, Vehicle Type, Propulsion Type, and Region.
By Type
By Service Provider
By Vehicle Type
By Propulsion Type
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL AUTOMOTIVE REPAIR AND SERVICE MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: AUTOMOTIVE REPAIR AND SERVICE MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL AUTOMOTIVE REPAIR AND SERVICE MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL AUTOMOTIVE REPAIR AND SERVICE MARKET, BY TYPE
5.1 OVERVIEW
5.2 MAINTENANCE SERVICES
5.3 MECHANICAL
5.4 EXTERIOR & STRUCTURAL
6 GLOBAL AUTOMOTIVE REPAIR AND SERVICE MARKET, BY SERVICE PROVIDER
6.1 OVERVIEW
6.2 FRANCHISE GENERAL REPAIRS
6.3 OEM AUTHORIZED SERVICE CENTERS
6.4 LOCAL GARAGE
6.5 TIRE STORES & REPAIR CHAINS
6.6 OTHERS
7 GLOBAL AUTOMOTIVE REPAIR AND SERVICE MARKET, BY VEHICLE TYPE
7.1 OVERVIEW
7.2 PASSENGER CARS
7.3 LIGHT COMMERCIAL VEHICLES
7.4 HEAVY COMMERCIAL VEHICLES
7.5 TWO WHEELERS
8 GLOBAL AUTOMOTIVE REPAIR AND SERVICE MARKET, BY PROPULSION TYPE
8.1 OVERVIEW
8.2 INTERNAL COMBUSTION ENGINE (ICE)
8.3 ELECTRIC
9 GLOBAL AUTOMOTIVE REPAIR AND SERVICE MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL AUTOMOTIVE REPAIR AND SERVICE MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 MEKO
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 M&M AUTOMOTIVE
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 JIFFY LUBE INTERNATIONAL INC
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 CARMAX AUTOCARE CENTER
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 INTER CARS S.A.
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 USA AUTOMOTIVE
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 EUROPART
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8 MYTVS ACCESSORIES
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 ASBURY AUTOMOTIVE GROUP INC.
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 CARPARTS.COM INC.
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.11 FIRESTONE
11.11.1 OVERVIEW
11.11.2 FINANCIAL PERFORMANCE
11.11.3 PRODUCT OUTLOOK
11.11.4 KEY DEVELOPMENTS
11.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.12 MOBIVIA GROUPE
11.12.1 OVERVIEW
11.12.2 FINANCIAL PERFORMANCE
11.12.3 PRODUCT OUTLOOK
11.12.4 KEY DEVELOPMENTS
11.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.13 WRENCH INC.
11.13.1 OVERVIEW
11.13.2 FINANCIAL PERFORMANCE
11.13.3 PRODUCT OUTLOOK
11.13.4 KEY DEVELOPMENTS
11.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.14 SUN AUTO SERVICE
11.14.1 OVERVIEW
11.14.2 FINANCIAL PERFORMANCE
11.14.3 PRODUCT OUTLOOK
11.14.4 KEY DEVELOPMENTS
11.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.15 HANCE’S EUROPEAN
11.15.1 OVERVIEW
11.15.2 FINANCIAL PERFORMANCE
11.15.3 PRODUCT OUTLOOK
11.15.4 KEY DEVELOPMENTS
11.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.16 SAFELITE GROUP
11.16.1 OVERVIEW
11.16.2 FINANCIAL PERFORMANCE
11.16.3 PRODUCT OUTLOOK
11.16.4 KEY DEVELOPMENTS
11.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.17 LKQ CORPORATION
11.17.1 OVERVIEW
11.17.2 FINANCIAL PERFORMANCE
11.17.3 PRODUCT OUTLOOK
11.17.4 KEY DEVELOPMENTS
11.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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