U.S. Oil Change Service Market Size, Share & Trends Analysis Report, And Segment Forecasts, 2023 - 2030

U.S. Oil Change Service Market Growth & Trends

The U.S. oil change service market size is expected to reach USD 11.31 billion by 2030, expanding at a CAGR of 5.3% during the forecast period, according to a new report by Grand View Research, Inc. The growth is attributed to an increase in the purchase of new cars and efficient maintenance of cars. Rapid demand for oil change services has been generated by a strong economy and an increase in the purchase of vehicles due to the growing population in the U.S. Customers treat their vehicles more like an asset than a tool and with more disposable income, they tend to maintain their cars efficiently. They opt for additional services to guarantee that the automobile will last longer, operate more effectively, and use less fuel.

Younger clients are also less likely to wash or change the oil on their own due to busy schedules and the simple availability of services at every location. As a result, businesses that provide services like petrol filling, oil changes, and vehicle washing profit from this trend. Additionally, the minimal labor, large volume, and quick return on investment business models of the sector are fostering the current market expansion.

Technology has been a key factor in driving the oil change service market growth. Several developments in retail technology have changed consumer purchasing habits and it is anticipated to continue in the coming years. Online subscriptions that are offered on a monthly, quarterly, or yearly basis are aiding customers in the proper and timely maintenance of their cars.

The decision to choose a service is fully based on the need for it, the cost of the service, as well as numerous social and physiological considerations. Depending on how often the vehicle is used, consumers' preferences for oil change services differ. Customers who frequently take trips and commute in their vehicles are frequent users of oil-changing services. The preference of consumers opting for professional services over DIY auto maintenance is also being driven by the trend of on-demand oil changes.

The trend of buying regional businesses that serve several places is being set by major players in the sector. Players are becoming more aware of the significance and supremacy of local brands, not only in terms of growing their business but also in terms of the benefits of continuous customer service. For instance, Kwik Kar, a quick lube chain that provides oil changes, state inspection services, and auto maintenance, was purchased by FullSpeed Automotive in July 2022. Kwik Kar is based in Houston and operates more than 350 units throughout eight states. In the U.S.

U.S. Oil Change Service Market Report Highlights

• The automotive aftermarket services industry in the U.S. has adopted major technological innovations in recent years. Through franchises and independent networks, oil change service companies offer vehicle owners repair and service options for their vehicles
• In January 2020, Take 5 Oil Change announced that it would purchase and renovate the Chevron Fast Lube in Ruston, Louisiana. The acquisition was a continuation of Take 5 Oil's aggressive business model expansion through company-owned and franchise platforms
• Companies in the U.S. offer services like lubricating car chassis and offering additional repair and maintenance services like tire rotations and liquid flushes. The oil change services market typically offers motor oil change services for automobiles.

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