Global Automotive Repair and Maintenance Services Market to 2026 – Featuring Ashland Automotive, Belron International and Bridgestone, among others

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DUBLIN, February 24, 2022–(BUSINESS WIRE)–The “Automotive Repair and Maintenance Services – Global Market Trajectory and Analysis” report has been added to from ResearchAndMarkets.com offer.

Amid the COVID-19 crisis, the global automotive repair and maintenance services market estimated at US$565 billion in 2020 is expected to reach a revised size of US$678.4 billion by 2026 , growing at a CAGR of 3.1% during the analysis. period.

Tires, one of the segments analyzed in the report, is expected to grow at a CAGR of 3.6% to reach US$211.1 billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Wear & Tear Parts segment is readjusted to a revised CAGR of 2.7% for the next 7-year period. This segment currently accounts for a 23.1% share of the global automotive repair and maintenance services market.

The US market is estimated at $93.6 billion in 2021, while China is expected to reach $154 billion by 2026

The automotive repair and maintenance services market in the United States is estimated to be worth US$93.6 billion in 2021. The country currently accounts for a 16.33% share of the global market. China, the world’s second largest economy, is expected to reach an estimated market size of US$154 billion in 2026 growing at a CAGR of 4% over the analysis period. Other noteworthy geographic markets include Japan and Canada, each forecasting growth of 2.2% and 2.7% respectively over the analysis period.

In Europe, Germany is expected to grow at a CAGR of around 2.4%, while the rest of the European market (as defined in the study) will reach US$158.9 billion by the end of the year. analysis period. Asia occupies an important position in the global market, supported by the strong presence of several automotive hubs. High consumption of passenger vehicles along with increased production of these vehicles in the region is expected to further increase the market growth. The lack of good roads and infrastructure deficit in emerging countries in the region like India will fuel the growth of tire, chassis and suspension servicing. North America will remain a key market due to growing auto sales combined with stringent US vehicle service and maintenance regulations.

Select competitors (84 total featured) –

  • Arnold Clark Automobiles Ltd.

  • Asbury Automotive Group, Inc.

  • Ashland Automobile Inc.

  • Belron International Ltd.

  • Bridgestone Corporation

  • CARMAX Automotive Service Center

  • Driven Brands, Inc.

  • Complete Firestone Car Care

  • Halfords Group plc

  • Jiffy Lube International, Inc.

  • Monro, Inc.

  • Sumitomo Company

  • The Goodyear Tire & Rubber Company

Main topics covered:

I. METHODOLOGY

II. ABSTRACT

1. MARKET OVERVIEW

  • Automotive Repair and Maintenance Services – Percentage of Global Major Competitors Market Share in 2022 (E)

  • Competitive Market Presence – Strong/Active/Niche/Trivial for Gamers Worldwide in 2022 (E)

  • Impact of COVID-19 and a looming global recession

  • COVID-19 Leaves the World in Shambles and Disrupted Industries and Markets: Global Economic Growth Projections (Real GDP, % Annual Change) for 2019E to 2022F

  • Auto sales plummet as unemployment hits historic highs

  • A blow to consumerism, rising unemployment levels threaten to shrink the world’s middle-class population: U.S. unemployment (millions)

  • Impact on the global automotive aftermarket: the challenges of 2020

  • Structural Changes in the Automotive Aftermarket Industry

  • Pandemic effect on repair and maintenance services industry

  • Repair shops and dealership service departments change procedures amid pandemic

  • An introduction to automotive repair and maintenance services

  • Services offered within the framework of automobile repair

  • Services offered as part of car maintenance

  • Review of some parts product segments

  • Global Market Outlook and Prospects

  • Global Automotive Repair and Maintenance Services Market by Parts (2020 and 2027): Revenue Percentage Breakdown of Tires, Wear Parts, Collision Body, Batteries and Other Parts

  • Global Automotive Repair and Maintenance Services Market by Application (2020 & 2027): Passenger Car and Commercial Vehicle Revenue Percentage Breakdown

  • Key trends affecting the automotive repair and maintenance services market

  • Market constraints

  • Recent market activity

  • Regional analysis

  • Global Automotive Repair and Maintenance Services Market by Region (2020 and 2027): Revenue Percentage Breakdown for Developed and Developing Regions

  • Global Automotive Repair and Maintenance Services Market: Geographical Regions Ranked by CAGR (Value) 2020-2027: China, Asia-Pacific, Latin America, Middle East, Africa, Canada, USA, Europe and Japan

2. FOCUS ON CERTAIN PLAYERS

3. MARKET TRENDS AND DRIVERS

  • Large fleet of vehicles and increasing density of passenger cars provide potential for repair and maintenance services market

  • World population of passenger cars and commercial vehicles (thousands of units) for the years 2017 and 2020

  • Motorization rate for selected countries: 2019

  • Automotive repair and maintenance services are undergoing change on several fronts

  • Electric vehicles and self-driving cars are expected to impact repair and maintenance trends in the future

  • Growing awareness of vehicle maintenance yields positive results

  • Continued Focus on DIFM Services Expands Market Opportunities

4. GLOBAL MARKET OUTLOOK

III. MARKET ANALYSIS

IV. COMPETETION

For more information about this report visit https://www.researchandmarkets.com/r/q5h70j

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220224005647/en/

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