Press release
Revolutionizing Automotive Service On-Board Diagnostics For Enhanced Maintenance: Key Factor Driving The Growth In The Automotive Repair and Maintenance Market
Automotive Repair and Maintenance
What Is the Expected Automotive Repair and Maintenance Market Size During the Forecast Period?
Strong growth has been experienced in the automotive repair and maintenance market in recent times. The market size will see a hike from $960.98 billion in 2024 to an impressive $1051.52 billion in 2025 with the compound annual growth rate (CAGR) tracking at 9.4%. The growth during the historic period is a direct result of an increase in disposable income, heightened consciousness regarding environmental issues related to e-waste which is propelling companies to recycle automotive components, robust economic evolution in emerging markets, and swift urban expansion.
We anticipate a robust expansion in the automotive repair and maintenance market in the coming years. The market is projected to reach $1469.64 billion in 2029, with a Compound Annual Growth Rate (CAGR) of 8.7%. The growth during the forecast period can be ascribed to the escalating sense of sustainability, an increasing rate of vehicle breakdowns, and the cost advantages linked with fixing old vehicles. Stringent governmental regulations pertaining to automotive waste management and an increased purchasing cost of automotive vehicles also play a significant role in the market growth. Foreseen trends for the forecast duration encompass the use of predictive maintenance solutions in vehicles, incorporation of improved safety features, integration of state-of-the-art technology in services, application of big data analytics tools in firms' operations for real-time improvements, and a strategic focus on mergers and acquisitions to boost revenue and market share.
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What Are the High-Growth Segments in the Automotive Repair and Maintenance Market?
The automotive repair and maintenance market covered in this report is segmented -
1) By Type: Automotive Mechanical And Electrical Repair And Maintenance, Automotive Body, Paint, Interior, And Glass Repair, Other Automotive Repair And Maintenance
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Bike And Scooter
3) By Service Provider: Automotive Dealership, Franchise General Repair, Specialty Shop, Locally Owned Repair Shops Or Body Shop, Others
Subsegments:
1) By Automotive Mechanical And Electrical Repair And Maintenance: Engine Repair And Maintenance, Transmission Repair, Brake System Repair, Electrical System Repair, HVAC System Repair, Suspension And Steering Repair
2) By Automotive Body: Collision Repair, Dent Repair, Frame Straightening, Body Panel Replacement
3) By Paint: Scratch and Dent Touch-Up, Full Repainting, Clear Coat Restoration, Custom Paint Jobs
4) By Interior: Upholstery Repair, Dashboard Repair, Carpet Replacement, Seat Reupholstering
5) By Glass Repair: Windshield Replacement, Chip Repair, Window Tinting, Side and Rear Glass Replacement
6) By Other Automotive Repair And Maintenance: Tire Repair And Replacement, Routine Maintenance (Oil Changes, Filter Replacements), Diagnostic Services, Performance Upgrades And Modifications
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What Key Drivers Are Expected to Influence Future Automotive Repair and Maintenance Market Growth?
Service providers catering to automotive repair and maintenance services are significantly augmenting their service experiences by integrating diagnostic gadgets into customer vehicles. They're utilizing on-board diagnostic instruments to monitor vehicle health and detect possible faults through diagnostic checks. Koovers, a company offering car maintenance services, is an exemplar of this, providing an onboard diagnostic device for its enlisted clients. The company's call centre receives error alerts from the device, which then facilitates communication with the customer for necessary repairs. This proactive approach allows garages to pre-identify essential car parts before the car arrives for servicing, creating a shorter waiting period.
Which Companies Hold the Largest Share Across Different Automotive Repair and Maintenance Market Segments?
Major companies operating in the automotive repair and maintenance market include LKQ Corporation, Belron International Ltd., Monro Muffler Brake, Asbury Automotive Group Inc., Lookers PLC, Halfords, ComfortDelGro Corporation, Nextage Co., Ltd., Bigmotor Co., Ltd., Evergreen Motors, Kothari Auto Link Private Limited, Modi Motors Agencies Private Limited, China Grand Automobile Service Co., Ltd, Xianglong Borui Auto Services (Group) Co., Ltd., Sanhe Group, Changzhou Tourism Automobile Group Co., Ltd, Nanchong Kunhe Automobile Trading Co., Ltd., Kwik-Fit (GB), ATS Euromaster Ltd, Berlin Motor Works, A R German Motors, MAN Truck & Bus Deutschland GmbH, Mobivia SA, Euromaster France SNC, Carglass SAS, Hyundai Motor Manufacturing Rus Limited Liability Company, Nokian Shina Ltd., Arkhangelski Tsbk, Ao, Limited Liability Company Pcma Rus, Tatneft-Azs-Severo-Zapad, Ooo, Llc Bridgestone C.I.S., Societe A Responsabilite Limitee Peugeot Citroen RuS, Midas International, Meineke Car Care Centers, CARSTAR Franchise Systems, AAMCO Transmissions and Total Care, Precision Tune Auto Care, Christian Brothers Automotive, Tuffy Tire and Auto Service, Milex Complete Auto Care/Mr. Transmission, Honest-1 Auto Care, Darlon Wilian Da Silva Gusmao, Ademir Vacari, Auto Socorro Do Careca Ltda, Neutrans S.A., Bosch Car Service, Z F Services Middle East L.L.C, Emrill Services L.L.C, Amana Contracting & Steel Building Company - W L L, Al Naboodah Contracting Co. (L.L.C), Saeed Mohd. Al Ghandi & Sons, Ag Facilities Solutions L.L.C, Al Futtaim Auto & Machinery Company (Llc) - Famco, Al Shirawi Enterprises (L.L.C), Yanfeng South Africa Automotive Interior Systems (Pty) Ltd, Germatic Autobody CC, Kempster Sedgwick (Pty) Ltd, Prommac (Pty) Ltd, Federal-Mogul Of South Africa (Pty) Ltd, Tracker Connect (Pty) Ltd
What Trends Are Driving Growth in The Automotive Repair and Maintenance Market?
Companies providing automotive repair and maintenance services are adopting AI-based automated vehicle inspection technologies to increase efficiency. These systems take multiple-angle photos of the cars as they enter the service area, then upload them to a central computing unit. Then, it compares these images with established standards to detect irregularities. A report is then generated, outlining all detected issues and recommending necessary remedial steps. For example, in January 2024, American tech giant Amazon introduced AI-Powered Automated Vehicle Inspection (AVI) technology. Utilizing sophisticated AI, the AVI tool can identify problems with delivery vans early, before they become a threat to safety, thus improving vehicle reliability. In collaboration with UVeye, the system is designed to automatically detect problems like hard-to-see tire defects. It offers in-depth data for fleet managers, helping monitor recurrent problems, enhancing route safety, and averting potential road failures. The system's scalability supports safety across Amazon's extensive delivery network, responsible for over 20 million packages daily.
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What Are the Emerging Geographies for The Automotive Repair and Maintenance Market Growth?
Western Europe was the largest region in the automotive repair and maintenance market in 2024. Asia-Pacific was the second-largest region in the automotive repair and maintenance market. The regions covered in the automotive repair and maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Repair and Maintenance Market?
2. What is the CAGR expected in the Automotive Repair and Maintenance Market?
3. What Are the Key Innovations Transforming the Automotive Repair and Maintenance Industry?
4. Which Region Is Leading the Automotive Repair and Maintenance Market?
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