Global Automotive Repair and Service Market to Reach US$ 1,008.2 Billion by 2032, Propelled by the Rising Sales of Vehicles

According to the latest report by IMARC Group, titled “Automotive Repair and Service Market by Type (Mechanical, Exterior and Structural, Maintenance Services), Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Two Wheelers), Propulsion Type (Internal Combustion Engine (ICE), Electric), Service Provider (Local Garage, Franchise General Repairs, OEM Authorized Service Centers, Tire Stores and Repair Chains, and Others), and Region 2024-2032," the global automotive repair and service market size reached US$ 684.4 Billion in 2023. Automotive repair and service refers to the maintenance, diagnosis, and replacement of vehicle parts to ensure proper functioning, reliability, and safety. It includes general maintenance, engine repair, brake service, suspension and steering replacement, electrical system repair, and heating, ventilation, and air conditioning (HVAC) services. Automotive repair and services are undertaken by vehicle owners to ensure smooth operations, prolong the vehicle's service life, and maintain the proper functioning of critical components. It aids in enhancing passenger comfort, improving the driving experience, and increasing the stability and handling of the vehicle. Automotive repair and service also assist in reducing harmful gas emissions, minimizing environmental pollution, and reducing noise levels.

Global Automotive Repair and Service Market Trends:

The rapid expansion of the automotive industry is one of the factors catalyzing the market growth. Automotive repair and service are widely used to maintain vehicles in their optimum condition by ensuring the proper functioning of various essential components, such as engine, transmission, brakes, suspension, tires, electronics, and air conditioning systems. Along with this, the increasing number of aging vehicles that require regular maintenance and repair is acting as another growth-inducing factor. Furthermore, the implementation of strict regulations by several governments to mandate regular repair and service of automobiles to reduce emission levels and enhance vehicle safety is providing an impetus to the market growth. Additionally, the recent development of computerized diagnostic tools and software that can quickly and accurately scan a vehicle's systems, detect faults, and provide detailed reports is positively influencing the market growth. Besides this, the introduction of robotic repair systems that can perform tire changes, wheel alignments, and other repetitive tasks with precision and speed is contributing to the market growth. Moreover, the growing consumer awareness towards preventive maintenance to extend the vehicle's service life and avoid premature replacement of parts is supporting the market growth. Other factors, including the increasing complexity of vehicles, the growing focus on vehicle safety and compliance, and the rapid expansion of the aftermarket industry, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 1,008.2 Billion by 2032, exhibiting a CAGR of 4.4% during 2024-2032.

Market Summary:

• On the basis of the type, the market has been classified into mechanical, exterior and structural, and maintenance services. Among these, mechanical represented the largest segment.
• Based on the vehicle type, the market has been divided into passenger cars, light commercial vehicles, heavy commercial vehicles, and two wheelers. Among these, passenger cars accounted for the largest market share.
• On the basis of propulsion type, the market has been bifurcated into internal combustion engine (ICE) and electric. Among these, the internal combustion engine (ICE) accounted for the largest market share.
• Based on the service provider, the market has been classified into local garage, franchise general repairs, OEM authorized service centers, tire stores and repair chains, and others. Among these, local garage accounted for the largest market share.
• On a regional basis, the market has been categorized into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. At present, Asia Pacific holds the largest market for automotive repair and service.
• The competitive landscape of the industry has also been examined, with some of the key players being Asbury Automotive Group Inc., Bridgestone Corporation, CarMax Autocare Center, Hance’s European, Inter Cars S.A., Jiffy Lube International Inc. (Shell plc), LKQ Corporation, MyTVS Accessories (TVS Group), Safelite Group Inc. (Belron Group S.A.), Sun Auto Service, Wrench Inc., etc.

Report Scope:

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800