Global Automotive Repair And Maintenance Services Market 2020-2024
Technavio has been monitoring the automotive repair and maintenance services market and it is poised to grow by USD 94.28 bn during 2020-2024 progressing at a CAGR of 3% during the forecast period. Our reports on automotive repair and maintenance services market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the need to ensure safety of passengers, growing preference for road transportation and availability of automotive repair financing and insurance. In addition, need to ensure safety of passengers is anticipated to boost the growth of the market as well.
The automotive repair and maintenance services market analysis include parts and services segment, vehicle type segments, and geographical landscapes
Technavio's automotive repair and maintenance services market is segmented as below:
By Parts and Services
- Wear and tear parts
- Collision body
By Vehicle Type
- Passenger vehicle
- Commercial vehicle
By Geographic Landscapes
- North America
- South America
This study identifies the rise in demand for electric vehicles as one of the prime reasons driving the automotive repair and maintenance services market growth during the next few years. Also, growth of connected cars market and increase in investment in autonomous vehicles will lead to sizable demand in the market.
"Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our automotive repair and maintenance services market covers the following areas:
- Automotive repair and maintenance services market sizing
- Automotive repair and maintenance services market forecast
- Automotive repair and maintenance services market industry analysis"
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive repair and maintenance services market vendors that include Arnold Clark Automobiles Ltd., Asbury Automotive Group Inc., Ashland Automotive Inc., Belron Group SA, Bridgestone Corp., Carmax Autocare Center, Driven Brands Inc., Halfords Group plc, Jiffy Lube International Inc., and THE GOODYEAR TIRE & RUBBER CO.. Also, the automotive repair and maintenance services market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.