Automotive Repair and Maintenance Global Market Sees Growth Rate Of 11% Through 2022

23 Feb, 2022

The global automotive repair and maintenance market size is expected to grow from $750.84 billion in 2021 to $836.27 billion in 2022 at a compound annual growth rate (CAGR) of 11.4%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The automotive repair and maintenance market is expected to reach $1237.49 billion in 2026 at a CAGR of 10.3%.

What is the Global Automotive Repair and Maintenance Market?

The automotive repair and maintenance market consists of sales of automotive repair and maintenance services by entities (organizations, sole traders and partnerships) that provide automotive repair and maintenance services for passenger automobiles, commercial vehicles and motorcycles and bicycles.

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What drives the Global Automotive Repair and Maintenance Market?

Automotive repair and maintenance service providers are increasingly installing diagnostic devices in customer vehicles to improve their service offerings. On-board diagnostics tools are being used to track vehicle condition and identify potential problems by running diagnosis. For instance, Koovers, a car maintenance services provider, fits an on-board diagnostics tool for its registered customers. Its call centre picks up the error reported by the tool and connects with the customer for required repair work. This enables garages to check for required parts for the car even before the car is brought in for service thus reducing wait time.

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Global Automotive Repair and Maintenance Market Segments
The global automotive repair and maintenance market is segmented:
By Type: Automotive Mechanical and Electrical Repair and Maintenance, Automotive Body, Paint, Interior, and Glass Repair, Other Automotive Repair and Maintenance
By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Bike and Scooter
By Service Provider: Automotive Dealership, Franchise General Repair, Specialty Shop, Locally Owned Repair Shops/Body Shop, Others
By Geography: The regions covered in the automotive repair and maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Automotive Repair and Maintenance Global Market Report 2022provides market size and growth forecasts for the global automotive repair and maintenance market, global automotive repair and maintenance market share, automotive repair and maintenance market segments and geographies, automotive repair and maintenance market competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive repair and maintenance market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Automotive Repair and Maintenance Industry Playersinclude LKQ Corporation, LeasePlan Corporation N.V., ADNOC, Monro Muffler Brake, Asbury Automotive Group Inc., Nippon Express Co., Ltd., Lookers PLC, Halfords, ComfortDelGro Corporation and A2B Australia Ltd. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.