Automotive Repair and Maintenance Services

Automotive Repair and Maintenance Services

Global Automotive Repair and Maintenance Services Market to Reach US$782.3 Billion by 2030

The global market for Automotive Repair and Maintenance Services estimated at US$614.8 Billion in the year 2023, is expected to reach US$782.3 Billion by 2030, growing at a CAGR of 3.5% over the analysis period 2023-2030. Tires Repair and Maintenance Services, one of the segments analyzed in the report, is expected to record a 3.9% CAGR and reach US$240.1 Billion by the end of the analysis period. Growth in the Wear & Tear Parts Repair and Maintenance Services segment is estimated at 3.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$98.6 Billion While China is Forecast to Grow at 4.3% CAGR

The Automotive Repair and Maintenance Services market in the U.S. is estimated at US$98.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$184.0 Billion by the year 2030 trailing a CAGR of 4.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.7% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR.

Global Automotive Repair and Maintenance Services Market - Key Trends & Drivers Summarized

Automotive repair and maintenance services are essential for ensuring the longevity, safety, and efficiency of vehicles. These services encompass a broad range of activities, from routine maintenance tasks like oil changes, tire rotations, and brake inspections to more complex repairs such as engine diagnostics, transmission work, and electrical system repairs. Regular maintenance helps prevent breakdowns and extends the lifespan of vehicles, while repairs address specific issues that arise over time. Automotive repair shops, dealerships, and specialized service centers provide these services, utilizing skilled technicians and advanced diagnostic tools to maintain and repair vehicles. The industry also includes mobile mechanics who offer on-site services, providing convenience for customers who prefer not to visit a service center.

Technological advancements have significantly transformed the automotive repair and maintenance industry, leading to more efficient and precise services. Modern vehicles are equipped with advanced electronics and computer systems, requiring specialized diagnostic tools and software to identify and fix issues. The rise of electric and hybrid vehicles has introduced new complexities in vehicle maintenance, necessitating training and equipment to handle high-voltage systems and battery management. Predictive maintenance, enabled by telematics and IoT technologies, allows for real-time monitoring of vehicle performance and early detection of potential problems, reducing the likelihood of costly repairs and downtime. Additionally, advancements in automation and robotics are improving the speed and accuracy of repair processes, enhancing overall service quality.

The growth in the automotive repair and maintenance services market is driven by several factors. The increasing complexity of modern vehicles, with their advanced electronic and mechanical systems, requires specialized knowledge and tools, driving demand for professional repair and maintenance services. The expanding vehicle fleet and rising passenger car density offer tremendous potential for repair & maintenance services market. The rising number of vehicles on the road, fueled by global economic growth and increased urbanization, contributes to the growing need for these services. Technological advancements, such as the integration of telematics and IoT in vehicles, are promoting predictive maintenance practices, which in turn drive demand for regular service visits. Additionally, the aging vehicle fleet, particularly in developed regions, necessitates more frequent repairs and maintenance to keep older vehicles operational. The expansion of automotive service networks and the rise of mobile mechanic services are also enhancing market accessibility and convenience for consumers. These factors, combined with ongoing innovations in automotive technology and service delivery, are expected to drive sustained growth in the automotive repair and maintenance services market in the coming years.

Select Competitors (Total 84 Featured) -

• 3M Company
• Denso Corporation
• Ford Motor Company
• Daimler AG
• Continental AG
• Honda Motor Co., Ltd.
• BorgWarner, Inc.
• Bridgestone Corporation
• Faurecia
• Goodyear Tire & Rubber Company, The
• Castrol India Ltd.
• Genuine Parts Company
• Aamco Transmissions Inc.
• Firestone Complete Auto Care
• Easy S.A.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.