Repair and Maintenance Global Market Report 2024

The repair and maintenance market size has grown strongly in recent years. It will grow from $1536.06 billion in 2023 to $1665.26 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historical period can be attributed to factors such as aging equipment, economic conditions, adherence to regulatory standards, preventive maintenance practices, environmental considerations, and investments in infrastructure.

The repair and maintenance market size is expected to see strong growth in the next few years. It will grow to $2263.54 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be ascribed to a focus on asset management, compliance with health and safety standards, emphasis on energy efficiency, implementation of circular economy initiatives, and efforts to enhance supply chain resilience. Major trends in the forecast period encompass the adoption of predictive maintenance technologies, digital work order management, utilization of augmented reality (AR) for training, collaboration with Original Equipment Manufacturers (OEMs), and the integration of artificial intelligence.

A growing emphasis on sustainability and the reduction of waste will lead to increased repair and maintenance of various devices, equipment, or vehicles, thereby boosting the repair and maintenance market. The disposal of devices, equipment, or vehicles and their components has become a growing concern globally, posing potential adverse effects on human health and the environment due to the presence of toxic substances. For instance, a 2022 survey by GWI, a UK-based audience research company, revealed that 44% of consumers worldwide actively engage in recycling their electronics. Additionally, research indicates that approximately 53% of younger consumers are not only aware of the importance of recycling but actively promote it in their daily lives. The rising awareness of environmental pollution from discarded products is prompting individuals to consider repair or reuse options. Consequently, the growing sense of sustainability is anticipated to drive market growth.

The expanding automotive production is poised to propel the repair and maintenance market's growth in the foreseeable future. The automotive industry encompasses a wide range of organizations involved in the design, development, manufacturing, marketing, selling, and maintenance of motor vehicles. Repair and maintenance play a critical role in ensuring the longevity and reliability of automotive production, contributing to overall efficiency and safety in the manufacturing process. For instance, data from the European Automobile Manufacturers Association, a Belgium-based association representing automobile manufacturers, revealed a notable 5.7% increase in global motor vehicle production in 2022, reaching a total of 85.4 million units compared to the previous year. Therefore, the growing automotive production is a driving force behind the repair and maintenance market.

In Europe, particularly in the UK, many repair and maintenance employers are increasingly adopting zero-hours contracts to address uncertain consumer demand. Zero-hours contracts, also known as casual contracts, allow companies to employ staff without guaranteeing a set amount of work. Employees are provided with minimal notice before shifts, called to work whenever there is "piece work" or "contract work," and are generally not entitled to leaves and other employee benefits. The flexibility offered by these contracts is gaining popularity among both employers and employees. According to the Office for National Statistics, the UK's independent producer of official statistics, the number of workers with zero-hour contracts reached 1 million in 2022, constituting approximately 3.2% of the total working population. A significant portion of these employees is expected to be associated with the repair and maintenance industry, which frequently engages freelancers on a non-contractual


Prominent companies in the repair and maintenance sector are introducing innovative mobile applications such as Frontdoor to deliver reliable services to customers. The Frontdoor app is aimed at revolutionizing home maintenance and repair, providing homeowners with a convenient one-stop solution for all their repair and maintenance requirements. For instance, in April 2023, Frontdoor Inc., a US-based company specializing in appliance repair and maintenance, unveiled the Frontdoor app. This groundbreaking mobile app caters to the evolving needs of tech-savvy homeowners, offering solutions for various issues such as running toilets or malfunctioning washing machines. Homeowners can leverage the app to engage in real-time video chats with pre-qualified experts, facilitating diagnosis and solutions for their repair and maintenance needs.

Major companies operating in the repair and maintenance market report are Bridgestone Americas Inc., The Goodyear Tire & Rubber Company, Nippon Express Co. Ltd., Asbury Automotive Group Inc., Sonic Automotive Inc., LKQ Corporation, Emcor Group, LeasePlan Corporation N.V., Xerox Corporation, Firestone Complete Auto Care, Fanuc Corp., Belron, Juniper Networks Inc., Boyd Group Services Inc., ADNOC, Safelite Group Inc., Valvoline Inc., Driven Brands Inc., Jiffy Lube International Inc., MONRO INC., Les Schwab Tire Centers, Mavis Tire Supply Corporation, ABRA Auto Body & Glass, Service King Collision Repair, Meineke Car Care Centers Inc., American Residential Services, Midas International Corporation, Caliber Holdings LLC, Handyman Connection, Tilden Car Care Centers, CarcareONE, Christian Brothers Automotive Corporation, Kauffman Tire Inc., Transform SR Brands LLC, TBC Corporation.

Asia-Pacific was the largest region in the repair and maintenance market in 2023. Western Europe was the second-largest region in the repair and maintenance market. The regions covered in the repair and maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the repair and maintenance market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa. The repair and maintenance market consists of revenues earned by entities that provide repair and maintenance services for automotive, personal goods, electronics, and other products but excluding aerospace and defense equipment. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.


The primary categories of repair and maintenance include automotive repair and maintenance, commercial and industrial machinery and equipment repair and maintenance, electronic and precision equipment repair and maintenance, and personal goods repair and maintenance. Automotive repair facilities serve as locations where auto mechanics and technicians engage in the maintenance and repair of vehicles. These services can be accessed through various modes, such as online and offline, offering options such as off-site and on-site services.

The repair and maintenance market research report is one of a series of new reports that provides repair and maintenance market statistics, including the repair and maintenance industry's global market size, regional shares, competitors with a repair and maintenance market share, detailed repair and maintenance market segments, market trends and opportunities, and any further data you may need to thrive in the repair and maintenance industry. This repair and maintenance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.