Insights Into The Automotive Repair And Maintenance Market’s Growth Opportunities Through 2023-2032 – Includes Automotive Repair And Maintenance Industry
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Increasingly installing diagnostic devices in customer vehicles to improve their service offerings are expected to drive innovation in automotive repair and maintenance manufacturing, thus driving the market during the forecast period.
The global automotive repair and maintenance market is expected to grow from $837.14 billion in 2022 to $912.88 billion in 2023 at a compound annual growth rate (CAGR) of 9.0%. The automotive repair and maintenance market is expected to grow to $1247.01 billion in 2027 at a CAGR of 8.1%.
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- By Type: Automotive Mechanical and Electrical Repair and Maintenance, Automotive Body, Paint, Interior, and Glass Repair, Other Automotive Repair and Maintenance
- By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Bike & Scooter
- By Service Providers: Automotive Dealership, Franchise General Repair, Specialty Shop, Locally Owned Repair Shops/Body Shop, Other Service Providers
- Subsegments Covered: General Automotive Repair, Automotive Exhaust System Repair, Automotive Transmission Repair, Other Automotive Mechanical and Electrical Repair and Maintenance, Automotive Body, Paint, and Interior Repair and Maintenance, Automotive Glass Replacement, Automotive Oil Change and Lubrication, Car Washes, All Other Automotive Repair and Maintenance
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Western Europe is the largest region in the global automotive repair and maintenance market in 2021.
Major Market Players in the automotive repair and maintenance market include LKQ Corporation, LeasePlan Corporation N.V., ADNOC, Monro Muffler Brake, Asbury Automotive Group Inc.
Automotive repair and maintenance services companies are increasingly using artificial intelligence-based automated vehicle inspection technology for vehicle inspection. Automated vehicle inspection systems capture pictures of the vehicle entering the cabin from multiple angles and upload them to the central computing system which then compares them with standards to identify deviations. The system generates a report with an overview of all the issues flagged in the car and the required actions needed to be taken. For instance, Scope technology, a US-based Tech Company, has developed an AI-automated vehicle inspection technology in collaboration with Microsoft’s Azure cloud computation. ProovStation, a French automobile maintenance service provider, implemented these systems in their service centers in France and North America. They use the technology to conduct a 360o scan of the vehicle, identify the damages such as scratches, dents, dirt, suspension, frame, brakes, and engine condition, and generate a report of the issues identified. The system generates a unique code and accounts for the vehicle with its chassis number for future service purposes. This entire visual inspection process is completed in less than 5 minutes and reduces costs by 50%.
The Automotive Repair And Maintenance Global Market Report 2023 provides a automotive repair and maintenance market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The automotive repair and maintenance market forecast analyzes automotive repair and maintenance market size, automotive repair and maintenance market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Automotive repair and maintenance refer to the service of repair, alteration, restoration, towing, painting, and cleaning of automobiles. Regular vehicle service and maintenance give huge dividends in fuel efficiency, increase safety, and longevity, enhance performance and reliability, and save on expensive repairs.
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