Europart

Dec 2, 2022

According to this report the automotive repair and service market was valued at $789.80 billion in 2021, and is estimated to reach $1,656.21 billion by 2031, growing at a CAGR of 7.6% from 2022 to 2031. The report incorporates the study of the global automotive repair and service market that focuses on the automotive aftermarket services provided to automotive repair shops and end users. Automotive repair and service include fixing an unexpected problem, ranging from rebuilding transmissions to replacing shocks. The automotive repair and service can be performed at any auto shop without affecting the customer's warranty coverage. Various service providers currently offer automotive repair and maintenance services, including automobile dealerships and OEMs. Moreover, the specialty shops are independently owned shops that are specialized in providing a particular service for suspension services, collision repair, services for exhaust and mufflers. For instance, in September 2021, LKQ Corporation expanded its business by opening a new Innovation and Service Center in Katowice, Poland. This service center offered repair services using digital channels such as app-based solutions that ensured best-in-class customer experience across Europe. The factors such as increasing automotive sales, growth of automotive post sale services, and stringent government regulations to replace or upgrade vehicle components supplement the growth of the automotive repair and service market. However, volatile prices of raw materials and rise in demand for shared mobility are the factors expected to hamper the growth of the automotive repair and service market. In addition, rise in trend of vehicle customization coupled with increase in disposable income and increasing automotive safety norms & demand for technologically advanced features creates market opportunities for the key players operating in the automotive repair and service market. For the purpose of analysis, the global automotive repair and service market is segmented on the basis of type, service provider, vehicle type, propulsion type, and region. By type, the market is divided into mechanical, exterior & structural, and maintenance services. By service provider, it is fragmented into franchise general repairs, OEM authorized service centers, local garage, tire stores & repair chains, and others. By vehicle type, it is categorized into passenger cars, light commercial vehicles, heavy commercial vehicles, and two wheelers. By propulsion type, it is further classified into internal combustion engine (ICE) and electric. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The leading players operating in the automotive repair and services market are Asbury Automotive Group, Inc., Carmax Autocare Center, CarParts.com, Inc., EUROPART, Firestone Complete Auto Care, Hance's European, Inter Cars S.A., Jiffy Lubes International, Inc., LKQ Corporation, M&M Automotive, MEKO, Mobivia Groupe, myTVS Accessories, Safelite Group, Sun Auto Service, USA Automotive, and Wrench, Inc. Key Benefits This study presents analytical depiction of the global automotive repair and service market analysis along with current trends and future estimations to depict imminent investment pockets. The overall automotive repair and service market opportunity is determined by understanding profitable trends to gain a stronger foothold. The report presents information related to the key drivers, restraints, and opportunities of the global automotive repair and service market with a detailed impact analysis. The current automotive repair and service market is quantitatively analyzed from 2022 to 2031 to benchmark the financial competency. Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry. Key Topics Covered: CHAPTER 4: AUTOMOTIVE REPAIR AND SERVICE MARKET, BY TYPE 4.1 Overview 4.2 Mechanical 4.2.2 Market size and forecast, by region 4.2.3 Market analysis by country 4.3 Exterior & Structural 4.3.2 Market size and forecast, by region 4.3.3 Market analysis by country 4.4 Maintenance Services 4.4.2 Market size and forecast, by region 4.4.3 Market analysis by country CHAPTER 5: AUTOMOTIVE REPAIR AND SERVICE MARKET, BY SERVICE PROVIDER 5.1 Overview 5.2 Franchise General Repairs 5.2.2 Market size and forecast, by region 5.2.3 Market analysis by country 5.3 OEM Authorized Service Centers 5.3.1 Key market trends, growth factors and opportunities 5.3.2 Market size and forecast, by region 5.3.3 Market analysis by country 5.4 Local Garage 5.4.2 Market size and forecast, by region 5.4.3 Market analysis by country 5.5 Tire Stores & Repair Chains 5.5.1 Key market trends, growth factors and opportunities 5.5.2 Market size and forecast, by region 5.5.3 Market analysis by country 5.6 Others 5.6.2 Market size and forecast, by region 5.6.3 Market analysis by country CHAPTER 6: AUTOMOTIVE REPAIR AND SERVICE MARKET, BY VEHICLE TYPE 6.1 Overview 6.2 Passenger Cars 6.2.2 Market size and forecast, by region 6.2.3 Market analysis by country 6.3 Light Commercial Vehicles 6.3.2 Market size and forecast, by region 6.3.3 Market analysis by country 6.4 Heavy Commercial Vehicles 6.4.2 Market size and forecast, by region 6.4.3 Market analysis by country 6.5 Two Wheelers 6.5.2 Market size and forecast, by region 6.5.3 Market analysis by country CHAPTER 7: AUTOMOTIVE REPAIR AND SERVICE MARKET, BY PROPULSION TYPE 7.1 Overview 7.2 Internal Combustion Engine (ICE) 7.2.1 Key market trends, growth factors and opportunities 7.2.2 Market size and forecast, by region 7.2.3 Market analysis by country 7.3 Electric 7.3.2 Market size and forecast, by region 7.3.3 Market analysis by country CHAPTER 8: AUTOMOTIVE REPAIR AND SERVICE MARKET, BY REGION CHAPTER 9: COMPANY LANDSCAPE