Automotive Repair and Maintenance Services Market: Automobile Dealerships Service Provider Segment Projected to Remain Dominant Through 2026: Global Industry Analysis and Opportunity Assessment, 2016-2026
Will the global automotive repair and maintenance services market show sustained growth in the near future?
The automotive aftermarket includes the maintenance and repair of various services and parts such as changing the engine oil, gear oil, brake oil, etc. Tire services include repair of flat tires, tire pressure monitoring, misalignment of tires, and replacement of tires. Battery services include automotive batteries replacement. Wear and tear parts include shock absorbers, brake wheel end, engine, driveline, and suspension. Collision body includes coating and painting, crash parts, refinishing, and repair materials. Starters and alternators include armature, field coil, brushes, end shield, and solenoid. Lighting includes automotive lighting and aftermarket services. Exhaust components include mufflers, exhaust manifold, catalytic convertor, and tail pipe. Spark plugs include spark plug- hot and cold, glow plug- metal, and ceramic.
Indeed, automotive repairs and maintenance services is definitely a booming business at a global level. According to our research, the global automotive repair and maintenance services market is anticipated to be valued at US$ 441.3 Bn by the year end and is projected to expand at a CAGR of 5.6% over the forecast period, to exceed US$ 750 Bn in the coming decade.
Impressive? Definitely. But how will the market shape up in the wake of advancements in automotive technology? Will these new-age intelligent technologies boost the market or act as restraints slowing down the growth of an already over-crowded market?
We feel there are several factors that are likely to impact the global automotive repair and maintenance services market. Increase in the average age of vehicles has led to a rise in demand for repair and maintenance services. The poor quality of road infrastructure in the developing countries of Asia Pacific Excluding Japan (APEJ) is expected to drive the market for automotive repair and maintenance services in this region. The increase in vehicle parc in regions such as North America, Western Europe, and APEJ has also led to a growth in automotive aftermarket services. With the declining oil and gas prices, the average miles driven has increased. This is closely associated with the wear and tear of parts thus requiring maintenance.
One of the major trends likely to govern the global automotive repair and maintenance services market is remote diagnostics. This enables real-time monitoring of vehicle parameters to assess its performance against benchmarks. Another trend observed in the global automotive repair and maintenance services market is that the small locally owned shops are pairing up with fleet operators to gain more maintenance contracts.
Having said this, an increase in repairs and maintenance services costs and a careless attitude on the part of vehicle owners towards structured maintenance and services may pose challenges to the growth of this market in the near future.
Our segment analysis shows that increasing annual mileage per vehicle is estimated to contribute significantly to the growth of the Tires Services and Parts segment
The Tires Services and Parts segment accounted for a major market share in terms of value in 2015 and is expected to expand at a significant CAGR over the forecast period (2016-2026). Along with another segment in the Services and Parts category, the Tires segment is likely to represent more than two-third share in the total incremental opportunity created over the next 10 years. Our research indicates that the Tires segment will reach a market valuation exceeding US$ 300 Bn by the end of the forecast period.
automotive repair and maintenance services market_image for preview analysis
Some of the big regional markets are showing decent growth in the global automotive repair and maintenance services market
The North America automotive repair and maintenance services market is estimated to account for more than 25% of the market share in the global automotive repair and maintenance services market by 2016 end. The automotive repair and maintenance services market in Asia Pacific is expected to expand at a relatively high CAGR over the forecast period. North America and Western Europe are estimated to collectively account for about 50% of the total market share of the global automotive repair and maintenance services market by the end of 2016.
Will a structured business strategy of mergers and acquisitions help key market players augment market share in the global automotive repair and maintenance services market?
Some of the leading players identified in the global automotive repair and maintenance services market are Jiffy Lubes International Inc., Driven Brands Inc., Asbury Automotive Group Inc., Sumitomo Corporation, Belron International Ltd., Monro Muffler Brake Inc., Firestone Complete Auto Care, Goodyear Tire & Rubber Co., Ashland Automotive Inc., and Carmax Autocare Center.
- 1. Executive Summary
- 2. Market Introduction
- 2.1. Market Definition
- 2.2. Market Taxonomy
- 2.3. Parent / Associated Market Overview
- 3. Automotive Repair and Maintenance Services Market Analysis Scenario
- 3.1. Market Size (US$ Mn) and Forecast
- 3.1.1. Market Size and Y-o-Y Growth
- 3.1.2. Absolute $ Opportunity
- 4. Market Dynamics
- 4.1. Macro-economic Factors
- 4.2. Drivers
- 4.3. Restraints
- 4.4. Opportunity
- 4.5. Forecast Factors - Relevance and Impact
- 5. Global Automotive Repair and Maintenance Services Market Analysis and Forecast, By Services and Parts
- 5.1. Introduction
- 5.1.1. Basis Point Share (BPS) Analysis By Services and Parts
- 5.1.2. Y-o-Y Growth Projections By Services and Parts
- 5.2. Market Size (US$ Mn) Forecast By Services and Parts
- 5.2.1. Engine Oil
- 5.2.2. Gear Oil
- 5.2.3. Brake Oil
- 5.2.4. Grease
- 5.2.5. Tires
- 5.2.6. Batteries
- 5.2.7. Wear and Tear Parts
- 5.2.8. Air Filter
- 5.2.9. Cabin Filter
- 5.2.10. Oil Filter
- 5.2.11. Wiper Blades
- 5.2.12. Collision Body
- 5.2.13. Starters and Alternators
- 5.2.14. Lighting
- 5.2.15. Exhaust Components
- 5.2.16. Spark Plugs
- 5.3. Market Attractiveness Analysis By Services and Parts
- 5.4. Prominent Trends
- 6. Global Automotive Repair and Maintenance Services Market Analysis and Forecast, By Service Provider
- 6.1. Introduction
- 6.1.1. Basis Point Share (BPS) Analysis By Service Provider
- 6.1.2. Y-o-Y Growth Projections By Service Provider
- 6.2. Market Size (US$ Mn) Forecast By Service Provider
- 6.2.1. Automotive Dealerships
- 6.2.2. Franchise General Repairs
- 6.2.3. Specialty Shops
- 6.2.4. Locally owned Repair Shops/Body Shops
- 6.2.5. Tire Shops
- 6.2.6. Others
- 6.3. Market Attractiveness Analysis By Service Provider
- 6.4. Prominent Trends
- 7. Global Automotive Repair and Maintenance Services Market Analysis and Forecast, By Vehicle Type
- 7.1. Introduction
- 7.1.1. Basis Point Share (BPS) Analysis By Vehicle Type
- 7.1.2. Y-o-Y Growth Projections By Vehicle Type
- 7.2. Market Size (US$ Mn) Forecast By Vehicle Type
- 7.2.1. Passenger Cars
- 7.2.2. LCV
- 7.2.3. HCV
- 7.3. Market Attractiveness Analysis By Vehicle Type
- 7.4. Prominent Trends
- 8. Global Automotive Repair and Maintenance Services Market Analysis and Forecast, By Region
- 8.1. Introduction
- 8.1.1. Basis Point Share (BPS) Analysis By Region
- 8.1.2. Y-o-Y Growth Projections By Region
- 8.2. Market Size (US$ Mn) Forecast By Region
- 8.2.1. North America
- 8.2.2. Eastern Europe
- 8.2.3. Western Europe
- 8.2.4. Latin America
- 8.2.5. Asia Pacific Excl. Japan (APEJ)
- 8.2.6. Japan
- 8.2.7. Middle East and Africa (MEA)
- 8.3. Market Attractiveness Analysis By Region
- 9. North America Automotive Repair and Maintenance Services Market Analysis and Forecast
- 9.1. Introduction
- 9.1.1. Basis Point Share (BPS) Analysis By Country
- 9.1.2. Y-o-Y Growth Projections By Country
- 9.1.3. Key Regulations
- 9.2. Market Size (US$ Mn) Forecast By Country
- 9.2.1. U.S.
- 9.2.2. Canada
- 9.3. Market Size (US$ Mn) Forecast By Services and Parts
- 9.3.1. Engine Oil
- 9.3.2. Gear Oil
- 9.3.3. Brake Oil
- 9.3.4. Grease
- 9.3.5. Tires
- 9.3.6. Batteries
- 9.3.7. Wear and Tear Parts
- 9.3.8. Air Filter
- 9.3.9. Cabin Filter
- 9.3.10. Oil Filter
- 9.3.11. Wiper Blades
- 9.3.12. Collision Body
- 9.3.13. Starters and Alternators
- 9.3.14. Lighting
- 9.3.15. Exhaust Components
- 9.3.16. Spark Plugs
- 9.4. Market Size (US$ Mn) Forecast By Service Provider
- 9.4.1. Automotive Dealerships
- 9.4.2. Franchise General Repairs
- 9.4.3. Specialty Shops
- 9.4.4. Locally owned Repair Shops/Body Shops
- 9.4.5. Tire Shops
- 9.4.6. Others
- 9.5. Market Size (US$ Mn) Forecast By Vehicle Type
- 9.5.1. Passenger Cars
- 9.5.2. LCV
- 9.5.3. HCV
- 9.6. Market Attractiveness Analysis
- 9.6.1. By Country
- 9.6.2. By Services and Parts
- 9.6.3. By Service Provider
- 9.6.4. By Vehicle Type
- 9.7. Prominent Trends
- 9.8. Drivers and Restraints: Impact Analysis
- 10. Eastern Europe Automotive Repair and Maintenance Services Market Analysis and Forecast
- 10.1. Introduction
- 10.1.1. Basis Point Share (BPS) Analysis By Country
- 10.1.2. Y-o-Y Growth Projections By Country
- 10.1.3. Key Regulations
- 10.2. Market Size (US$ Mn) Forecast By Country
- 10.2.1. Russia
- 10.2.2. Poland
- 10.2.3. Rest of Eastern Europe
- 10.3. Market Size (US$ Mn) Forecast By Services and Parts
- 10.3.1. Engine Oil
- 10.3.2. Gear Oil
- 10.3.3. Brake Oil
- 10.3.4. Grease
- 10.3.5. Tires
- 10.3.6. Batteries
- 10.3.7. Wear and Tear Parts
- 10.3.8. Air Filter
- 10.3.9. Cabin Filter
- 10.3.10. Oil Filter
- 10.3.11. Wiper Blades
- 10.3.12. Collision Body
- 10.3.13. Starters and Alternators
- 10.3.14. Lighting
- 10.3.15. Exhaust Components
- 10.3.16. Spark Plugs
- 10.4. Market Size (US$ Mn) Forecast By Service Provider
- 10.4.1. Automotive Dealerships
- 10.4.2. Franchise General Repairs
- 10.4.3. Specialty Shops
- 10.4.4. Locally owned Repair Shops/Body Shops
- 10.4.5. Tire Shops
- 10.4.6. Others
- 10.5. Market Size (US$ Mn) Forecast By Vehicle Type
- 10.5.1. Passenger Cars
- 10.5.2. LCV
- 10.5.3. HCV
- 10.6. Market Attractiveness Analysis
- 10.6.1. By Country
- 10.6.2. By Services and Parts
- 10.6.3. By Service Provider
- 10.6.4. By Vehicle Type
- 10.7. Prominent Trends
- 10.8. Drivers and Restraints: Impact Analysis
- 11. Western Europe Automotive Repair and Maintenance Services Market Analysis and Forecast
- 11.1. Introduction
- 11.1.1. Basis Point Share (BPS) Analysis By Country / Region
- 11.1.2. Y-o-Y Growth Projections By Country
- 11.1.3. Key Regulations
- 11.2. Market Size (US$ Mn) Forecast By Country / Region
- 11.2.1. Germany
- 11.2.2. France
- 11.2.3. Italy
- 11.2.4. Spain
- 11.2.5. U.K.
- 11.2.6. BENELUX
- 11.2.7. Rest of Western Europe
- 11.3. Market Size (US$ Mn) Forecast By Services and Parts
- 11.3.1. Engine Oil
- 11.3.2. Gear Oil
- 11.3.3. Brake Oil
- 11.3.4. Grease
- 11.3.5. Tires
- 11.3.6. Batteries
- 11.3.7. Wear and Tear Parts
- 11.3.8. Air Filter
- 11.3.9. Cabin Filter
- 11.3.10. Oil Filter
- 11.3.11. Wiper Blades
- 11.3.12. Collision Body
- 11.3.13. Starters and Alternators
- 11.3.14. Lighting
- 11.3.15. Exhaust Components
- 11.3.16. Spark Plugs
- 11.4. Market Size (US$ Mn) Forecast By Service Provider
- 11.4.1. Automotive Dealerships
- 11.4.2. Franchise General Repairs
- 11.4.3. Specialty Shops
- 11.4.4. Locally owned Repair Shops/Body Shops
- 11.4.5. Tire Shops
- 11.4.6. Others
- 11.5. Market Size (US$ Mn) Forecast By Vehicle Type
- 11.5.1. Passenger Cars
- 11.5.2. LCV
- 11.5.3. HCV
- 11.6. Market Attractiveness Analysis
- 11.6.1. By Country
- 11.6.2. By Services and Parts
- 11.6.3. By Service Provider
- 11.6.4. By Vehicle Type
- 11.7. Prominent Trends
- 11.8. Drivers and Restraints: Impact Analysis
- 12. Latin America Automotive Repair and Maintenance Services Market Analysis and Forecast
- 12.1. Introduction
- 12.1.1. Basis Point Share (BPS) Analysis By Country
- 12.1.2. Y-o-Y Growth Projections By Country
- 12.1.3. Key Regulations
- 12.2. Market Size (US$ Mn) Forecast By Country
- 12.2.1. Brazil
- 12.2.2. Mexico
- 12.2.3. Rest of Latin America
- 12.3. Market Size (US$ Mn) Forecast By Services and Parts
- 12.3.1. Engine Oil
- 12.3.2. Gear Oil
- 12.3.3. Brake Oil
- 12.3.4. Grease
- 12.3.5. Tires
- 12.3.6. Batteries
- 12.3.7. Wear and Tear Parts
- 12.3.8. Air Filter
- 12.3.9. Cabin Filter
- 12.3.10. Oil Filter
- 12.3.11. Wiper Blades
- 12.3.12. Collision Body
- 12.3.13. Starters and Alternators
- 12.3.14. Lighting
- 12.3.15. Exhaust Components
- 12.3.16. Spark Plugs
- 12.4. Market Size (US$ Mn) Forecast By Service Provider
- 12.4.1. Automotive Dealerships
- 12.4.2. Franchise General Repairs
- 12.4.3. Specialty Shops
- 12.4.4. Locally owned Repair Shops/Body Shops
- 12.4.5. Tire Shops
- 12.4.6. Others
- 12.5. Market Size (US$ Mn) Forecast By Vehicle Type
- 12.5.1. Passenger Cars
- 12.5.2. LCV
- 12.5.3. HCV
- 12.6. Market Attractiveness Analysis
- 12.6.1. By Country
- 12.6.2. By Services and Parts
- 12.6.3. By Service Provider
- 12.6.4. By Vehicle Type
- 12.7. Prominent Trends
- 12.8. Drivers and Restraints: Impact Analysis
- 13. Asia Pacific Excl. Japan (APEJ) Automotive Repair and Maintenance Services Market Analysis and Forecast
- 13.1. Introduction
- 13.1.1. Basis Point Share (BPS) Analysis By Country / Region
- 13.1.2. Y-o-Y Growth Projections By Country / Region
- 13.1.3. Key Regulations
- 13.2. Market Size (US$ Mn) Forecast By Country / Region
- 13.2.1. China
- 13.2.2. India
- 13.2.3. ASEAN
- 13.2.4. Australia and New Zealand
- 13.2.5. Rest of APEJ
- 13.3. Market Size (US$ Mn) Forecast By Services and Parts
- 13.3.1. Engine Oil
- 13.3.2. Gear Oil
- 13.3.3. Brake Oil
- 13.3.4. Grease
- 13.3.5. Tires
- 13.3.6. Batteries
- 13.3.7. Wear and Tear Parts
- 13.3.8. Air Filter
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