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Increasing number of vehicles, increasing disposable income of people, need for improved passenger safety in vehicles, and increasing average age of vehicles are the factors expected to boost the demand of automotive repair and maintenance services over the forecast period. Furthermore, increase in average miles driven by vehicle is expected to drive the demand for automotive repair and maintenance services over the forecast period.

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Increase in repair and maintenance cost, and careless attitude of vehicle owners towards their vehicles are few factors, which are expected to restrain growth of global automotive repair and maintenance services market over the forecast period. Furthermore, growing usage of public transport and limited availability of automotive repair and maintenance services dealerships and shops in rural areas are expected to be negative factors, which will impact growth of global automotive repair and maintenance services market during the forecast period.

Automotive repair and maintenance service is an essential timely practice require to maintain the functionality of an automobile. The repair and maintenance services are provided by automobile dealership owners, wherein they have a contract with the OEM or locally-owned shop. There are specialty shops that provide specific services including collision repair, services for mufflers and exhaust, suspension services, etc. Moreover, locally-owned repair shops include body shops, small garages, etc. and they usually provide all types of services. Others include department stores and repair shops present at the gas stations.

The global Automotive Repair and Maintenance Services market is estimated to account for US$ 41,374.7 Mn in terms of value in 2019 and is expected to grow at a CAGR of 6.0 % over the forecasted period 2020-27.

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Market Drivers

Increasing disposable income and rising vehicle parc is expected to support growth of the global automotive repair and maintenance services market during the forecast period
Increase in miles driven per vehicle is expected to boost the global automotive repair and maintenance services market growth over the forecast period.

Market Opportunities

Merger and acquisition activities among major market players can offer major business opportunities.
Growing acceptance for remote vehicle diagnostics.

Automotive repair and maintenance services are provided to keep passenger cars as well as commercial vehicles in running condition by complex diagnostics form tire and wheel alignments to oil changes. Some parts of the vehicles such as brakes, engine, filters, and batteries are not inspected visually, hence, regular maintenance and repair services are important for them for increasing the efficiency of the vehicle. Moreover, regular oil change, brake repair, air conditioning service, and wheel alignment also contributes for increasing the life of the vehicle.

Market Dynamics

Growth of global automotive repair and maintenance services market is attributed to increase in awareness regarding the vehicle maintenance and the vehicle safety. Furthermore, the availability of several independent auto services and maintenance service providers, availability of service flexibility, cost competitiveness, reliable maintenance services, and poor quality of road infrastructure across the globe is expected to boost the demand for automotive repair and maintenance services over the forecast period. Moreover, increasing number of vehicles on the road across the globe is expected to boost the global automotive repair and maintenance services market during the forecast period. For instance, according to World Economic Forum, the number of cars on the roads is expected to get double by the year 2040, globally. Furthermore, most of this transport growth is going to take place in emerging markets such as China and India, as global population is set to increase by another two billion over the next 25 years to 9.2 billion.

The automotive aftermarket includes maintenance and repair of different services and parts namely gear oil, engine oil, brake oil, etc. Furthermore, wear and tear parts maintenance is comprised of suspension, engine, shock absorbers, brake wheel end, and driveline, while exhaust components include exhaust manifold, tailpipe, mufflers, and catalytic converter. The tire services include tire pressure monitoring, misalignment of tires repair of flat tires, replacement of tires, etc. Similarly, battery services include, replacement of automotive batteries. Various services providers offer automotive repair and maintenance services including automobile dealership, OEM, etc. Moreover, the specialty shops are independently owned shops that are specialized to provide a particular service for suspension services, collision repair, services for exhaust and mufflers.