Global Automotive Service Market 2023-2027
The automotive service market is forecasted to grow by USD 351.69 bn during 2022-2027, accelerating at a CAGR of 7.65% during the forecast period. The report on the automotive service market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing vehicle population, growth of automotive post-sale service, and upgradation of vehicle components.
Technavio's automotive service market is segmented as below:
- By Type
- Mechanical services
- Exterior and structural services
- Maintenance services
- By Vehicle Type
- Passenger cars
- Light commercial vehicles
- Two wheelers
- Heavy commercial vehicles
- By Geographical Landscape
- North America
- APAC
- Europe
- South America
- Middle East and Africa
This study identifies the increasing vehicle digitization and electrification as one of the prime reasons driving the automotive service market growth during the next few years. Also, inorganic strategies by the vendors and increasing automotive safety norms will lead to sizable demand in the market.
The report on the automotive service market covers the following areas:
- Automotive service market sizing
- Automotive service market forecast
- Automotive service market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive service market vendors that include Arnold Clark Automobiles Ltd., Asbury Automotive Group Inc., Ashland Automotive Inc., Belron International Ltd., Bridgestone Corp., Carmax Autocare Center, Driven Brands Holdings Inc., EUROPART Group GmbH, Halfords Group Plc, Inter Cars S.A, Jiffy Lube International Inc., LKQ Corp., M and M Automotive, MEKO Auto Components Inc., Mobivia, Monro Inc., Sumitomo Corp., The Goodyear Tire and Rubber Co., USA Automotive, and Wrench Inc.. Also, the automotive service market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.