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Automotive Repair and Maintenance Service Market Trends

Report ID: GMI5206
Published Date: Feb 2024
Report Format: PDF

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Automotive Repair and Maintenance Service Market Trends

So many automotive repair and maintenance facilities use predictive maintenance, data analytics and sensors to predict when vehicle components are likely to break. Predictive maintenance technologies are being used by automotive repair facilities more often to provide more effective and economical services while enhancing the dependability and safety of their vehicles. Subscription-based maintenance programs are being offered by automakers and third-party service providers. In these programs, customers pay a fee every month to receive regular maintenance services. These plans may help in distributing maintenance costs over time and giving car owners predictable costs.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of automotive repair and maintenance service reached USD 825 billion in 2023 and is set to witness 10.2% CAGR from 2024 to 2032, owing to an increase in aging cars leading to need for regular maintenance and replacement of their parts worldwide.

The mechanical segment recorded around USD 298 billion in 2023, due to providing durability, and less maintenance for vehicles.

North America market was valued at USD 284 billion in 2023, attributed to urbanization and population boom leading to increasing consumer preference in the region.

Bosch Car Service, ADNOC, Nippon Express Co., Car Parts.com Inc, Belron International Ltd., EUROPART Holding GmbH, Hance’s European, Inter cars, and LKQ Corporations, are some of the major automotive repair and maintenance service companies worldwide.