Automotive Repair and Maintenance Services Market

Automotive Repair and Maintenance Services Market

Market Definition

Automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. However, the automotive repair and maintenance market consists of sales of automotive repair and maintenance services by entities (organizations, sole traders and partnerships) that provide automotive repair and maintenance services for passenger automobiles, commercial vehicles (LVCs and HCVs) and motorcycles and bicycles. Automotive repair and maintenance services are provided to keep the passenger cars as well as the commercial vehicles in running condition by complex diagnostics form tire and wheel alignments to oil changes. Some parts of the vehicles such as brakes, engine, filters, and batteries are not inspected visually, hence, regular maintenance and repair services are important for them for increasing the efficiency of the vehicle. Moreover, regular oil change, brake repair, air conditioning service, and wheel alignment also contributes for increasing the life of the vehicle. Some of the biggest players operating in the automotive repair and maintenance services market include Arnold Clark Automobiles Limited, Asbury Automotive Group, Inc., Driven Brands, Inc., Firestone Complete Auto Care, Goodyear Tire & Rubber Company, and Jiffy Lube International, Inc.

Key Segmentations

The global automotive repair and maintenance services market can be segmented based on services and parts, service providers, vehicle type, and region:

• Based on services and parts, the automotive repair and maintenance services market can be segregated into engine oil, gear oil, tires, and others. Engine oil performs an important role in the smooth functioning of the transmission system and enhances engine performance, which directly affects the fuel-efficiency of the vehicle. Brake oil is another important sub segment which is anticipated to expand rapidly during the forecast period owing to its importance in the vehicle. For better fuel efficiency different types of filters such as air filter, cabin filter, oil filter and others perform important operation.
• In terms of service providers, the automotive repair and maintenance services market can be bifurcated into automotive dealership, franchise general repairs, locally owned repair shops/body shops, and others. The automobile dealership segment is likely to hold a major share of the automotive repair and maintenance services market during the forecast period. Presence of several locally owned repair shops is also rising at a significant pace owing increase in preference of consumers toward locally owned shop.
• Based on vehicle type, the automotive repair and maintenance services market can be segregated into passenger vehicle and commercial vehicle. The passenger vehicle segment holds a major share of the market. This trend is likely to continue during the forecast period.
• In terms of region, the automotive repair and maintenance services market can be classified into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Middle East & Africa and Japan.

Market Size

• 2020: USD 2535.5 Billion
• 2030: USD 937 billion

CAGR (2020 – 2030)

5.8%

Key Geographies

North America

• Asia-Pacific

Key Product

• Tires
• Wear & Tear Parts
• Collision Body

Key Service Provider

• Automotive Dealership
• Franchise General Repairs
• Locally Owned Repair Shops / Body Shops

Key Contributor by Vehicle

• Passenger Car
• Light commercial vehicle

Key Market Drivers

• Increased share of Online Retailing of Aftermarket Parts
• Use of latest Technology

Key Market Opportunities

• Growing Number of Small Independent Repair Shops
• Local shop owners can capitalize on untapped potential by providing a full array

of services

Major Players/ Companies

• Goodyear Tire & Rubber Company
• Arnold Clark Automobiles Limited
• Halfords Group Plc.