Automotive Repair and Maintenance Services Market

Automotive Repair and Maintenance Services Market: Automobile Dealerships Service Provider Segment Projected to Remain Dominant Through 2026: Global Industry Analysis and Opportunity Assessment, 2016-2026

  • 2016-12-01
  • REP-GB-987
  • 189 pages
  • PDF PPT EXCEL
 Automotive Repair and Maintenance Services Market

An Incisive, In-depth Analysis on the Automotive Repair And Maintenance Services Market

This study offers a comprehensive, 360 degree analysis on the Automotive Repair And Maintenance Services market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Automotive Repair And Maintenance Services market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

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Will the global automotive repair and maintenance services market show sustained growth in the near future?

The automotive aftermarket includes the maintenance and repair of various services and parts such as changing the engine oil, gear oil, brake oil, etc. Tire services include repair of flat tires, tire pressure monitoring, misalignment of tires, and replacement of tires. Battery services include automotive batteries replacement. Wear and tear parts include shock absorbers, brake wheel end, engine, driveline, and suspension. Collision body includes coating and painting, crash parts, refinishing, and repair materials. Starters and alternators include armature, field coil, brushes, end shield, and solenoid. Lighting includes automotive lighting and aftermarket services. Exhaust components include mufflers, exhaust manifold, catalytic convertor, and tail pipe. Spark plugs include spark plug- hot and cold, glow plug- metal, and ceramic.

Indeed, automotive repairs and maintenance services is definitely a booming business at a global level. According to our research, the global automotive repair and maintenance services market is anticipated to be valued at US$ 441.3 Bn by the year end and is projected to expand at a CAGR of 5.6% over the forecast period, to exceed US$ 750 Bn in the coming decade.

Impressive? Definitely. But how will the market shape up in the wake of advancements in automotive technology? Will these new-age intelligent technologies boost the market or act as restraints slowing down the growth of an already over-crowded market?

We feel there are several factors that are likely to impact the global automotive repair and maintenance services market. Increase in the average age of vehicles has led to a rise in demand for repair and maintenance services. The poor quality of road infrastructure in the developing countries of Asia Pacific Excluding Japan (APEJ) is expected to drive the market for automotive repair and maintenance services in this region. The increase in vehicle parc in regions such as North America, Western Europe, and APEJ has also led to a growth in automotive aftermarket services. With the declining oil and gas prices, the average miles driven has increased. This is closely associated with the wear and tear of parts thus requiring maintenance.

One of the major trends likely to govern the global automotive repair and maintenance services market is remote diagnostics. This enables real-time monitoring of vehicle parameters to assess its performance against benchmarks. Another trend observed in the global automotive repair and maintenance services market is that the small locally owned shops are pairing up with fleet operators to gain more maintenance contracts.

Having said this, an increase in repairs and maintenance services costs and a careless attitude on the part of vehicle owners towards structured maintenance and services may pose challenges to the growth of this market in the near future.

Our segment analysis shows that increasing annual mileage per vehicle is estimated to contribute significantly to the growth of the Tires Services and Parts segment

The Tires Services and Parts segment accounted for a major market share in terms of value in 2015 and is expected to expand at a significant CAGR over the forecast period (2016-2026). Along with another segment in the Services and Parts category, the Tires segment is likely to represent more than two-third share in the total incremental opportunity created over the next 10 years. Our research indicates that the Tires segment will reach a market valuation exceeding US$ 300 Bn by the end of the forecast period.

automotive repair and maintenance services market_image for preview analysis

Some of the big regional markets are showing decent growth in the global automotive repair and maintenance services market

The North America automotive repair and maintenance services market is estimated to account for more than 25% of the market share in the global automotive repair and maintenance services market by 2016 end. The automotive repair and maintenance services market in Asia Pacific is expected to expand at a relatively high CAGR over the forecast period. North America and Western Europe are estimated to collectively account for about 50% of the total market share of the global automotive repair and maintenance services market by the end of 2016.

Will a structured business strategy of mergers and acquisitions help key market players augment market share in the global automotive repair and maintenance services market?

Some of the leading players identified in the global automotive repair and maintenance services market are Jiffy Lubes International Inc., Driven Brands Inc., Asbury Automotive Group Inc., Sumitomo Corporation, Belron International Ltd., Monro Muffler Brake Inc., Firestone Complete Auto Care, Goodyear Tire & Rubber Co., Ashland Automotive Inc., and Carmax Autocare Center.

Future Market Insights analyses the global automotive repair and maintenance services market over a 10-year forecast period (2016-2026). This report mainly focuses on identifying opportunities in the market and providing updates and insights that are likely to impact various segments in the global automotive repair and maintenance services market. The report provides global automotive repair and maintenance services market analysis in terms of value (US$ Mn) and analyses the different segments of the global automotive repair and maintenance services market across the various assessed regions.

How have we segmented the market?

To understand and assess opportunities in the global automotive repair and maintenance services market, we have divided the report into four sections based on market segmentation as under:

By Services and Parts

By Service Provider

By Vehicle Type

By Region

  • Engine Oil

  • Gear Oil

  • Brake Oil

  • Grease

  • Tires

  • Batteries

  • Wear and Tear Parts

  • Air Filter

  • Cabin Filter

  • Oil Filter

  • Wiper Blades

  • Collision Body

  • Starters and Alternators

  • Lighting

  • Exhaust Components

  • Spark Plugs

  • Automobile Dealerships

  • Franchise General Repairs

  • Specialty Shops

  • Locally Owned Repair Shops/Body Shops

  • Tire Shops

  • Others

  • Passenger Cars

  • Light Commercial Vehicles

  • Heavy Commercial Vehicles

  • North America

  • Latin America

  • Western Europe

  • Eastern Europe

  • APEJ

  • MEA

  • Japan

Our report provides detailed insights into the global automotive repair and maintenance services market in terms of value (US$ Mn). The report also includes an in-depth analysis of various factors that we predict will drive and influence the market. Recent trends and opportunities in the global automotive repair and maintenance services market are also included in the report to provide clients with specific decision making insights. The subsequent sections analyse the global automotive repair and maintenance services market on the basis of services and parts, service provider, vehicle type, and region.

In the final section of the report, we have included the global automotive repair and maintenance services market competitive landscape to provide a dashboard view of key automotive repair and maintenance services providers functioning in the global automotive repair and maintenance services market. The report also comprises strategic recommendations to capitalise on growth opportunities in the market and provides company profiles of some of the major players in the market. We hope this will enable clients to assess strategies deployed by market leaders and help them develop effective strategies accordingly.

What is our research methodology?

To deduce the market size of the global automotive repair and maintenance services market, we have considered various viewpoints based on secondary research. Furthermore, data points such as regional split and market split in terms of services and parts, service provider, and vehicle type; and qualitative inputs from industry experts have been considered to arrive at suitable market estimates. The forecast presented in the report evaluates the actual revenue generated and expected revenue in the global automotive repair and maintenance services market over the forecast period.

When developing the market forecast, the report begins with sizing the current market, which forms the basis for forecasting how the market is expected to grow during the forecast period. Given the characteristics of the market, we have triangulated the data on the basis of various analyses based on supply side, demand side, and other dynamics of the global automotive repair and maintenance services market. Also, we understand the ever-fluctuating nature of the global economy and hence, we not only conduct forecasts in terms of CAGR, but also evaluate the market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify growth opportunities for market players operating in the global automotive repair and maintenance services market.

Another key feature of our report is the analysis of the global automotive repair and maintenance services market and the corresponding revenue forecast in terms of absolute dollar opportunity. This is usually overlooked while forecasting the market. Absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global automotive repair and maintenance services market.  Further, to understand key market segments in terms of their growth and performance in the global automotive repair and maintenance services market, we have developed a market attractiveness index to help providers identify existing market opportunities.

Get in touch

Harish Tiwari

Harish Tiwari

Global Head - Business Development

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