DUBLIN–(Enterprise WIRE)–The “Automotive Fix And Servicing World wide Sector Alternatives And Approaches To 2031” report has been additional to ResearchAndMarkets.com’s presenting.
The international automotive mend and upkeep market place arrived at a value of virtually $750.8 billion in 2021, obtaining improved at a compound annual progress amount (CAGR) of 3.8% considering the fact that 2016. The current market is expected to expand from $750.8 billion in 2021 to $1,237.5 billion in 2026 at a price of 10.5%. The market is then expected to increase at a CAGR of 10.9% from 2026 and arrive at $2,080.2 billion in 2031.
Advancement in the historic time period in the automotive fix and routine maintenance market place resulted from a increase in disposable revenue, improved environmental considerations for e-squander pushing corporations to re-use automotive components, robust financial expansion in rising marketplaces and fast urbanization. The current market was restrained by fluctuating steel prices, the coronavirus pandemic and unpredictability in the political atmosphere across nations around the world.
Heading forward, escalating feeling of sustainability, growing auto failure charge and value-gain associated with restoring old auto, rising governing administration laws for automotive squander administration and higher purchase price tag of automotive autos will push the market. Factors that could hinder the progress of the market in the long term involve lack of proficient workforce and superior charge involved in coaching assistance technicians.
The automotive restore and upkeep marketplace is segmented by form into automotive mechanical and electrical repair and servicing, automotive entire body, paint, inside, and glass maintenance and other automotive repair and routine maintenance. The automotive mechanical and electrical restore and servicing section was the major phase of the automotive maintenance and servicing market place segmented by variety, accounting for 47.1% of the complete in 2021.
Going ahead, the automotive overall body, paint, interior, and glass maintenance phase is envisioned to be the speediest growing segment in the automotive restore and upkeep industry segmented by form, at a CAGR of 12.2% in the course of 2021-2026.
The automotive mechanical and electrical repair service and maintenance sector is segmented by style into standard automotive mend, automotive exhaust system repair service, automotive transmission maintenance, and other automotive mechanical and electrical maintenance and routine maintenance.
The general automotive repair phase was the most significant phase of the automotive mechanical and electrical fix and routine maintenance marketplace segmented by form, accounting for 43.3% of the whole in 2021. Heading forward, the automotive transmission maintenance phase is envisioned to be the speediest rising phase in the automotive mechanical and electrical mend and servicing current market segmented by style, at a CAGR of 3.1% during 2021-2026.
The automotive physique, paint, interior, and glass fix market place is segmented by variety into automotive system, paint, and interior mend and upkeep, and automotive glass alternative. The automotive physique, paint, and interior restore and maintenance segment was the major segment of the automotive system, paint, interior, and glass maintenance current market segmented by kind, accounting for 33.1% of the overall in 2021. Likely ahead, the automotive glass replacement phase is expected to be the quickest escalating segment in the automotive body, paint, inside, and glass repair service current market segmented by type, at a CAGR of 11.6% throughout 2021-2026.
The other automotive repair and servicing current market is segmented by style into automotive oil modify and lubrication stores, motor vehicle washes, and all other automotive restore and maintenance. The motor vehicle washes phase was the largest section of the other automotive mend and routine maintenance industry segmented by variety, accounting for 9.% of the total in 2021. Likely ahead, the automotive oil adjust and lubrication shops segment is anticipated to be the swiftest growing phase in the other automotive repair service and servicing marketplace segmented by variety, at a CAGR of 5.8% in the course of 2021-2026.
The automotive fix and upkeep current market is also segmented by automobile form into passenger automobiles, gentle professional automobiles, large professional automobiles and bike and scooter. The passenger cars section was the premier phase of the automotive repair and servicing sector segmented by motor vehicle style, accounting for 65.1% of the overall in 2021. Heading ahead, mild commercial vehicles segment is envisioned to be the fastest expanding phase in the automotive repair and servicing marketplace segmented by car or truck sort, at a CAGR of 10.2% throughout 2021-2026.
The automotive repair service and upkeep sector is also segmented by assistance provider into automotive dealership, franchise common mend, specialty shop, domestically owned restore shops/human body store and other people. The automotive dealership segment was the major segment of the automotive maintenance and upkeep market segmented by service supplier, accounting for 39.5% of the complete in 2021. Going ahead, locally owned repair outlets/body store section is expected to be the quickest growing phase in the automotive maintenance and maintenance market place segmented by provider provider, at a CAGR of 10.6% in the course of 2021-2026.
Western Europe was the greatest area in the automotive maintenance and routine maintenance industry, accounting for 33.6% of the complete in 2021. It was followed by the Asia Pacific, North The united states and then the other regions. Likely forward, the swiftest-growing areas in the automotive repair and maintenance marketplace will be Africa and South The united states in which progress will be at CAGRs of 13.5% and 12.8% respectively for the duration of 2021-2026. These will be followed by Middle East and Japanese Europe, where the markets are anticipated to sign up CAGRs of 12.7% and 11.7% respectively in the course of 2021-2026.
The world automotive repair service and maintenance current market is fragmented, with a significant selection of gamers. The major 10 rivals in the industry made up to 1.57% of the total current market in 2020. This can be thanks to the existence of range of community players in the marketplace serving buyers in unique geographies.
Important players in the market place are LKQ Company, Belron Global Ltd., ADNOC, Monro Muffler Brake, Asbury Automotive Team Inc., Nippon Express Co., Ltd., Driven Brand names Inc, Goodyear Tire & Rubber Co., Lookers PLC, Halfords and other players.
- The leading alternatives in the automotive fix and upkeep marketplace segmented by type will crop up in automotive entire body, paint, inside, and glass fix phase, which will attain $214. billion of worldwide annual gross sales by 2026.
- The prime chances in the automotive mechanical and electrical repair service and upkeep marketplace segmented by variety will come up in typical automotive repair segment, which will gain $178.9 billion of global annual revenue by 2026.
- The leading opportunities in the automotive entire body, paint, inside, and glass restore current market segmented by variety will crop up in automotive body, paint, and interior fix and upkeep phase, which will get $193.9 billion of global yearly gross sales by 2026.
- The prime prospects in the other automotive repair service and upkeep market segmented by kind will arise in motor vehicle washes phase, which will get $58.9 billion of world once-a-year revenue by 2026.
- The major chances in the automotive restore and servicing market place segmented by vehicle sort will come up in passenger cars segment, which will attain $309.4 billion of international once-a-year profits by 2026.
- The major options in the automotive repair and servicing industry segmented by company service provider will arise in automotive dealership section, which will get $186.3 billion of world once-a-year revenue by 2026.
Automotive Repair service And Routine maintenance Market Trends And Techniques
- Implementation Of Predictive Upkeep
- Boost In Business Automobile Security Attributes
- The Increase In Utilization Of Advanced Technologies
- Expanding Utilization Of Significant Information Analytics
- Surge In Mergers And Acquisitions
- Soaring Adoption Of Remote Automobile Diagnostics Devices
- Escalating Implementation Of Synthetic Intelligence (AI)
- Improved Digital Cars (EV) Leasing
Essential Mergers And Acquisitions In The Automotive Mend And Upkeep Industry
- Halfords Acquired Axle Group Holdings
- AutoCentral Merged With Blue Print
- Keyauto Acquired Rolf
- MySyara Acquired An Automobile Sections Distributor
- Cox Automotiv Obtained Dickinson Fleet Expert services
- Borg Automotive Obtained Turbo Motor Inyeccion S.L. (TMI)
- Maruti Suzuki India Ltd Obtained Sumitomo Corporation
- Wrench Obtained Fiix
- Alliance Automotive Team (AAG) Acquired PartsPoint Group
- OMK Acquired VRK-3
- Didi Chuxing Obtained Xiaoju Auto Alternatives (XAS)
International Automotive Restore And Maintenance Marketplace Aggressive Landscape
- LKQ Corporation
- Belron International Ltd.
- Abu Dhabi National Oil Business for Distribution PJSC
- Monro Muffler Brake
- Asbury Automotive Group Inc.
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