+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

PRINTER FRIENDLY

Automotive Repair and Maintenance Services - Global Market Trajectory & Analytics

  • PDF Icon

    Report

  • 425 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 1382325

FEATURED COMPANIES

  • Ashland Automotive Inc.
  • Belron International Ltd.
  • Bridgestone Corporation
  • CARMAX Autocare Center
  • Driven Brands, Inc.
  • Halfords Group plc

Global Automotive Repair and Maintenance Services Market to Reach $678.4 Billion by 2026


Automotive repair & maintenance services signify keeping all features and systems of the vehicle functional in close resemblance to the original design of the manufacturer. Repair and maintenance services also ensure a fixed level of vehicular reliability. All vehicle maintenance programs intend to return maximum performance, service life, and reliability. A vehicle needs a range of repair and maintenance services during its life span. The pandemic has changed the way customers engage with businesses across industries, a trend also seen in auto dealerships which are now adapting to how consumers buy cars and get repairs. As economic uncertainty looms large over car owners, consumers are preferring to repair their existing vehicles in order to boost their life and trade-in value. Despite fewer people traveling to offices or schools in the pandemic, people are still driving cars to avoid mass transit and public transport by sticking to road vehicles. The requirement by the customers to ensure the safety of their vehicle through repair and maintenance services is expected to fuel the growth of automotive repair and maintenance services market during the forecast period. Various other factors such as growing awareness about vehicle safety and maintenance, growing consciousness regarding road safety, poor quality of roads, easy accessibility of various independent auto service and maintenance providers, service flexibility, reliability and cost competitiveness are anticipated to enhance the demand for automotive repair and maintenance services during the estimated period.

Amid the COVID-19 crisis, the global market for Automotive Repair and Maintenance Services estimated at US$594.9 Billion in the year 2022, is projected to reach a revised size of US$678.4 Billion by 2026, growing at a CAGR of 3.1% over the analysis period. Tires, one of the segments analyzed in the report, is projected to grow at a 3.6% CAGR to reach US$211.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Wear & Tear Parts segment is readjusted to a revised 2.7% CAGR for the next 7-year period. This segment currently accounts for a 23.1% share of the global Automotive Repair and Maintenance Services market. Battery electric vehicles (BEVs) will have an effect on the demand for repair & maintenance services. Tires are among the most abused part of the vehicle, as automobiles are driven on bad roads, wet pavements, are driven at high speeds, turned at sharp corners, and maneuvered on precarious on-and-off exit ramps, slippery road conditions, among others. The tire category is anticipated to expand, mainly in value terms, as BEVs need advanced and hi-tech tires, in comparison to conventional ICE vehicles.

The U.S. Market is Estimated at $95.9 Billion in 2022, While China is Forecast to Reach $154 Billion by 2026


The Automotive Repair and Maintenance Services market in the U.S. is estimated at US$95.9 Billion in the year 2022. The country currently accounts for a 16.33% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$154 Billion in the year 2026 trailing a CAGR of 4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.2% and 2.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR while Rest of European market (as defined in the study) will reach US$158.9 Billion by the end of the analysis period. Asia commands a sizable presence in the market globally, supported by the strong presence of several automotive hubs. High passenger vehicle consumption along with increased production of these vehicles in the region are likely to further augment growth in the market. Lack of good roads and infrastructure deficit in emerging countries in the region like India will fuel growth in tire, chassis and suspension maintenance. North America will remain a key market due to growing automobile sales combined with strict US regulations regarding vehicle servicing and maintenance.

Collision Body Segment to Reach $138.6 Billion by 2026


Under the stay-at-home mandates that lowered vehicle density, most cities registered a drop in collision rates. For example, collision rates in San Francisco plunged almost 60% and around 50% in Seattle after the state announced a slew of measures to prevent the virus from spreading. Cities in Europe also witnessed a similar trend. This is a rather positive development as fewer collisions mean fewer deaths and injuries. Revenue planning must account for lesser collision repair jobs in terms of aftermarket. In the global Collision Body segment, USA, Canada, Japan, China and Europe will drive the 2.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$83.4 Billion will reach a projected size of US$100.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$23.8 Billion by the year 2026, while Latin America will expand at a 3.2% CAGR through the analysis period.

Select Competitors (Total 84 Featured):

  • Arnold Clark Automobiles Ltd.
  • Asbury Automotive Group, Inc.
  • Ashland Automotive Inc.
  • Belron International Ltd.
  • Bridgestone Corporation
  • CARMAX Autocare Center
  • Driven Brands, Inc.
  • Firestone Complete Auto Care
  • Halfords Group plc
  • Jiffy Lube International, Inc.
  • Monro, Inc.
  • Sumitomo Corporation
  • The Goodyear Tire & Rubber Company

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year

FEATURED COMPANIES

  • Ashland Automotive Inc.
  • Belron International Ltd.
  • Bridgestone Corporation
  • CARMAX Autocare Center
  • Driven Brands, Inc.
  • Halfords Group plc

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Automotive Repair and Maintenance Services - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Impact of COVID-19 and a Looming Global Recession
  • COVID-19 Leaves the World in Shambles & Industries and Markets Upended: World Economic Growth Projections (Real GDP, Annual % Change) for 2019E to 2022F
  • Auto Sales Come Down Crashing As Unemployment Spikes to Historic Highs
  • A Big Blow to Consumerism, Rising Levels of Unemployment Threatens to Shrink the Global Middle Class Population: Unemployment in the U.S. (In Million)
  • Impact on Global Automotive Aftermarket: The 2020 Challenges
  • Structural Shifts in the Automotive Aftermarket Industry
  • Pandemic Effect on Repair & Maintenance Services Industry
  • Repair Shops and Dealership Service Departments Change Procedures amid the Pandemic
  • An Introduction to Automotive Repair & Maintenance Services
  • Services Offered Under Automotive Repair
  • Services Offered Under Automotive Maintenance
  • Review of Select Product Segments of Parts
  • Global Market Prospects & Outlook
  • World Automotive Repair and Maintenance Services Market by Parts (2020 & 2027): Percentage Breakdown of Revenues for Tires, Wear & Tear Parts, Collision Body, Batteries, and Other Parts
  • World Automotive Repair and Maintenance Services Market by Application (2020 & 2027): Percentage Breakdown of Revenues for Passenger Cars, and Commercial Vehicles
  • Key Trends Affecting the Automotive Repair and Maintenance Services Market
  • Market Restraints
  • Recent Market Activity
  • Regional Analysis
  • World Automotive Repair and Maintenance Services Market by Region (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
  • Global Automotive Repair and Maintenance Services Market: Geographic Regions Ranked by CAGR (Value) for 2020-2027: China, Asia-Pacific, Latin America, Middle East, Africa, Canada, USA, Europe, and Japan
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Large Vehicle Fleet & Rising Passenger Car Density Offer Potential for Repair & Maintenance Services Market
  • Global Passenger Car & Commercial Vehicle Population (In 000 Units) for the Years 2017 and 2020
  • Motorization Rate for Select Countries: 2019
  • Automotive Repair & Maintenance Services Undergoes Changes on Several Fronts
  • Electric Vehicles & Autonomous Cars Set to Impact Repair & Maintenance Trends in Future
  • Growing Awareness About Vehicle Maintenance Yields Positive Results
  • Sustained Emphasis on DIFM Services Widens Market Opportunities
  • Aging Vehicle Fleet: Among the Prominent Market Drivers
  • Average Age of Light Vehicles (Cars & Light Trucks) in the US for the Years 2011, 2015 & 2019
  • Average Age of Passenger Cars and Light Commercial Vehicles in the European Union (EU-27) for the Years 2013, 2016 & 2019
  • EU Passenger Cars Fleet Age (2019): Percentage Breakdown by Age
  • Rise in Automotive Accidents & Bad Road Conditions Generate Higher Demand
  • Number of Deaths Caused by Road Accidents Worldwide by Region for the Years 2019 & 2030
  • Pre-Owned Cars & Auto Leasing Encourage Market Expansion
  • Need for Fully Functional Automotive Air Filters Drives Service Requirements
  • Sustained Demand for Battery Maintenance Augurs Well
  • Motor Oils, Fluids & Additives Elevate Maintenance Requirements
  • Robust Demand for Appearance Chemicals Favors Market Expansion
  • Tire Replacement Needs Extend Considerable Opportunities
  • Predictive Maintenance: The New Norm
  • New Technologies Keep Service Providers on Their Toes
  • Urban Sprawl Favors Growth in the Automotive Repair & Maintenance Services Market
  • World Urban Population in Millions: 1950-2050
  • Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
  • Advanced OEM Parts & Components Reduce Maintenance Needs
  • Rising Number of DIY Customers Deters Market Momentum
4. GLOBAL MARKET PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Automotive Repair and Maintenance Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Overview
  • Increasing Average Life of Vehicle Drives Demand for Automotive Repair and Maintenance Services
  • US Motor Vehicle Aftermarket Industry (2019): Percentage Share Breakdown by Market Segment
  • New Technically Advanced Cars
  • Automotive Lead-Acid Batteries Continue to Gain Market Demand
  • US Battery Market (2019): Percentage Breakdown of Demand by Battery Type - Alkaline, Lead-Acid, Rechargeable Lithium, Other Primary and Other Secondary
  • Asian Products Gain Traction in US Automotive Aftermarket
CANADA
  • Canadian Automotive Repair and Service Industry
JAPAN
  • Automotive Repair and Maintenance Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Automotive Repair and Maintenance Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Chinese Vehicles in Operation Increasing
  • China Still a Major Market for Aftermarket Products
  • Automotive Electrical Product Aftermarket in China (2019): Percentage Share Breakdown of Value Sales by Product Segment
  • Automotive Brake Parts & Assemblies Aftermarket in China (2019): Percentage Share Breakdown of Value Sales by Product Segment
EUROPE
  • Automotive Repair and Maintenance Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Overview
  • Digitalization Gaining Momentum
  • Regulatory Overview
FRANCE
  • Automotive Repair and Maintenance Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Automotive Repair and Maintenance Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Automotive Repair and Maintenance Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Automotive Repair and Maintenance Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
AUSTRALIA
  • Automotive Repair and Maintenance Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Automotive Repair and Maintenance Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Automotive Repair and Maintenance Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Automotive Repair and Maintenance Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Automotive Repair and Maintenance Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
  • Asian Products Gain Traction in US Automotive Aftermarket
IV. COMPETITION
  • Total Companies Profiled: 84

A selection of companies mentioned in this report includes:

  • Arnold Clark Automobiles Ltd.
  • Asbury Automotive Group, Inc.
  • Ashland Automotive Inc.
  • Belron International Ltd.
  • Bridgestone Corporation
  • CARMAX Autocare Center
  • Driven Brands, Inc.
  • Firestone Complete Auto Care
  • Halfords Group plc
  • Jiffy Lube International, Inc.
  • Monro, Inc.
  • Sumitomo Corporation
  • The Goodyear Tire & Rubber Company