Global Automotive Repair and Maintenance Service Market Assessment, By Type [Maintenance Services, Mechanical, Exterior and Structural], By Service Provider [Franchise General Repairs, OEM Authorized Service Centers, Local Garage, Tire Store and Repair Chains, Others], By Propulsion [ICE, BEV, PHEV, Others], By Vehicle [Passenger Cars, Commercial Vehicles, Two-Wheelers], By Region, Opportunities, and Forecast, 2017-2031F

Automotive Repair and Maintenance Service Market is projected to witness a CAGR of 8.73% during the forecast period 2024-2031, growing from USD 885.1 billion in 2023 to USD 1728.96 billion in 2031.

Automotive Repair and Maintenance Service Market Size, Share, Statistics

The global automotive repair and maintenance service market is projected to witness a&nbsp;CAGR of 8.73%&nbsp;during the forecast period 2024-2031, growing from&nbsp;USD 885.1 billion&nbsp;in 2023 to&nbsp;USD 1728.96 billion&nbsp;in 2031. One of the core automotive sectors includes the maintenance and repair market, covering different vehicle ranges, services, and coverage areas. With the advent of online repair consultation and booking, the market is anticipated to transform shortly. Furthermore, the increased vehicle population and companies expanding their business line in foreign nations are likely to fuel the market growth. New repair equipment maintenance machinery, and mobile service centers are projected to shape the outlook. The advent of electric vehicles has also flourished in the market by adding EV-compliant workshops that deliver an EV-specific maintenance ecosystem. Automakers extend the maintenance coverage while also building new repair and maintenance facilities, which are projected to fuel the market growth. Other than EV-compliant workshops, the growing market trends include predictive maintenance, self-healing materials, and robotics.
Local or native companies partner with international brands to expand their maintenance coverage. Automakers also collaborate with other entities to build authorized repair centers. The rapidly increasing number of vehicles in emerging economies will likely propel the overall market growth.
For instance, in October 2023, Hindustan Petroleum Corporation Limited (HPCL India) announced its partnership with Saudi Arabia-based Petromin Corporation and launched the first set of 16 express vehicle service centers in Bengaluru and Chennai. The joint statement stated that they would be the first of 1,000 'HP Petromin Express Centers planned across the country over the next few years.
<h2 style="text-align: justify;">Digitalization and Rising Vehicle Population&nbsp;to Fuel Market Expansion</h2>
The advent of connected, autonomous, shared, and electric (CASE) vehicles is expected to significantly disrupt the automobile sector, including the auto service sector. In addition, the vehicle service industry is set to transform due to the rise of digitally advanced clients, growing automation, and advancements in technological repair. The automotive sector is rushing to adapt to a new future that includes connected automobiles, electric vehicles, fleet sharing of mobility, changing consumer behavior, and better lives. India, China, and Brazil are among the developing nations with the greatest potential for the automobile industry. Other than this, the companies also work to make maintenance and repair services more sustainable.&nbsp;
For instance, in March 2023, KwikFix Auto started its service in India. In case of a sudden breakdown, KwikFix Auto's quick-spread network of dealers, auto mechanics, and automotive businesses allows its customers to get quick auto repair services wherever they choose. Among the many auto care products and services offered by KwikFix Auto are paint jobs, car spas, batteries, tires, accessories, and repairs.
<h2 style="text-align: justify;">Higher EV Adoption and Predictive Maintenance to Shape Market Dynamics</h2>
As there is less planning involved in setting up a conventional garage for EVs, the vendors are focusing on setting up EV garages. The garage requires an EV and an independent circuit for vehicle charging. Garage temperature must be maintained at constant levels. Above all, the workshop must meet EV safety standards, and workers must receive appropriate safety training. For instance, in May 2024, Al Futtaim Group announced 18 specialized maintenance and repairs for electric vehicles (EVs) and plug-in hybrid (PHs) auto center facilities. Al Futtaim Auto Centers are equipped with state-of-the-art technology to provide the best possible service to owners of all types of EVs and plug-in hybrids. As smart technologies such as connected data, Internet of Things (IoT), and Over-the-Air (OTA) updates are integrated into vehicles, service stations, and car owners, they benefit from unprecedented vehicle failure prevention. Predictive maintenance is an impressive example of data science that uses time series data and powerful machine learning algorithms to predict system failures with incredible accuracy before their occurrence.
<h2 style="text-align: justify;">Government Promoting Automation and Advanced Robotics to Propel Market Expansion</h2>
The government across the globe is enabling vehicle owners to keep a check on their vehicle&rsquo;s emission systems. Hence, the government's stringent pollution policies around vehicles through different tests also fuel the market growth. Furthermore, authorities are also working on helping automotive service vendors build automated vehicle maintenance solutions for higher sustainability. Robotics is a major part of automotive auto repair. The sector is now using the latest robotic and automated solutions. Robots that are equipped with the proper sensors, actuators, and digital control logic can carry out repetitive operations quickly, accurately, and precisely. Shortly, auto repair businesses will be equipped with robots that can complete tedious, dangerous, or complex repair and maintenance chores in a fraction of the time it takes for human mechanics to execute them.
For instance, in November 2023, Akzo Nobel N.V. launched a new strategy to address the challenge of reducing carbon emissions within the vehicle repair sector, along with strategic partners from all segments of the value chain. Participants, including Allianz Arval Boekhorst Autoschade, Centro Zaragoza, Den Elzen Autoschade, Europcar Mobility Group Velasco, Toyota, and The Vella Group, agreed to participate in the next stage, which will take them further towards their carbon reduction objectives.
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<h2 style="text-align: justify;">Asia-Pacific Leads the Global Automotive Repair and Maintenance Service Market</h2>
Asia-Pacific holds a decent share of the market. The growth is attributed to rapid urbanization, rising vehicle population, increased disposable income, and stringent government policies. The local governments promoting EVs with incentives and tax cuts are also increasing the demand for EV-compliant repair and maintenance facilities. For example, the Indian government extended the production-linked incentives (PLI) scheme and faster adoption and manufacturing of hybrid and electric vehicles (FAME). Companies functioning in these regions are also introducing mobile vehicle service solutions. A surge in road safety awareness in people and an increase in the sales of used cars is expected to create numerous opportunities for the key players in this region's automotive repair and service market.
For instance, in September 2022, MG Motor India introduced a doorstep vehicle repair and maintenance service. The service named &ldquo;MG Service on Wheels&rdquo; delivers major maintenance and repair services to their car owners.
Future Market Scenario (2024-2031F)
1.&nbsp;Rising vehicle population, increasing awareness around vehicle health and safety, and new technological integration to boost the global automotive repair and service market growth.
2.&nbsp;Automakers delivering services in remote regions along with online slot bookings to garner market expansion during the forecast period.
3.&nbsp;Higher adoption of electric vehicles along with the expanding manufacturing spaces to fuel the market growth.
4.&nbsp;Augmented reality apps make it easier for repair and maintenance professionals to understand complicated repairs, which are likely to advance market growth.
Report Scope
&ldquo;Automotive Repair and Maintenance Service Market Assessment, Opportunities, and Forecast, 2017-2031F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, that provides an in-depth analysis and qualitative and quantitative assessment of the current state of the global automotive repair and maintenance service market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business model, competitive intelligence, etc.
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Report Attribute
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Details
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Base Year of the Analysis
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2023
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Historical Period
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2017-2022
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Forecast Period
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2024-2031
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Projected Growth Rate
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CAGR of 8.73% between 2024 and 2031
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Segments Covered
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Type, Service Provider, Propulsion, Vehicle
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Regions Covered
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North America, Europe, South America, Asia-Pacific, Middle East and Africa
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Key Companies Profile
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Carmax Autocare Center, LKQ Corporation, Jiffy Lube International, Inc., M&amp;M Automotive, CarParts.com, Inc., Safelite Group, Mobivia Groupe, MEKO, Sun Auto Service, Asbury Automotive Group, Inc., Hance&rsquo;s European, Wrench, Inc.
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In this report, the&nbsp;global automotive repair and maintenance service market&nbsp;has been segmented into the following categories:&nbsp;
<ul style="text-align: justify;">
<li>By Type
<ul>
<li>Maintenance Services</li>
<li>Mechanical</li>
<li>Exterior and Structural</li>
</ul>
</li>
<li>By Service Provider
<ul>
<li>Franchise General Repairs</li>
<li>OEM Authorized Service Centers</li>
<li>Local Garage</li>
<li>Tire Store and Repair Chains</li>
<li>Others</li>
</ul>
</li>
<li>By Propulsion
<ul>
<li>ICE</li>
<li>BEV</li>
<li>PHEV</li>
<li>Others</li>
</ul>
</li>
<li>By Vehicle
<ul>
<li>Passenger Cars</li>
<li>Commercial Vehicles</li>
<li>Two-Wheelers</li>
</ul>
</li>
<li>By Region
<ul>
<li>North America</li>
<li>Europe</li>
<li>Asia-Pacific</li>
<li>South America</li>
<li>Middle East and Africa</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
The automotive repair and maintenance service market companies work on integrating technologies like artificial intelligence, IoT, and machine learning. Companies also expand their manufacturing boundaries. Furthermore, the companies also collaborate, acquire, and partner to expand their supply chain, distribution channel, and overall market hold. For instance, in December 2023, CarMax Inc. revealed that it would establish its independent reconditioning facility in Carrollton.
In August 2023,&nbsp;LKQ Academy announced&nbsp;it would train an additional 1,000 technicians from independent garages in hybrid and electric vehicle (EV) maintenance. More than 2,000 technicians have already received training from the training division of supplier company LKQ, which owns motor factor Euro Car Parts, to maintain and repair hybrid and electric cars.&nbsp;
Key Players Operating in the Global Automotive Repair and Maintenance Service market are:
<ul style="text-align: justify;">
<li>Carmax Autocare Center</li>
<li>LKQ Corporation</li>
<li>Jiffy Lube International, Inc.</li>
<li>M&amp;M Automotive</li>
<li>com Inc.</li>
<li>Safelite Group</li>
<li>Mobivia Groupe</li>
<li>MEKO Auto Components Inc.</li>
<li>Sun Auto Service</li>
<li>Asbury Automotive Group Inc.</li>
<li>Hance&rsquo;s European</li>
<li>Wrench Inc.</li>
</ul>
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<ul style="text-align: justify;">
<li>What is the current and future market size of the product/service in question globally or specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
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Global Automotive Repair and Maintenance Service Market Assessment, Opportunities, and Forecast, 2017-2031F

Increasing vehicle population, new commercial fleets, and rising sales of used vehicles are expected to fuel the growth of automotive repair and maintenance service market.

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