Automotive Services

The automotive services sector is experiencing a robust transformation driven by technological advancement, vehicle electrification, and evolving mobility consumption patterns. As per IEA.gov, around 17 million electric cars were sold in 2024. Another key growth driver for the automotive services market is the increasing global vehicle ownership combined with an aging vehicle fleet. As more people purchase personal and commercial vehicles, the need for regular maintenance, repairs, and aftermarket services continues to rise. The global automotive repair and maintenance services market was valued at USD 779.3 billion in 2024 and is estimated to register a CAGR of 5.7% between 2025 and 2034. Within this broader landscape, the U.S. market alone reached USD 183.4 billion in 2023 and is projected to grow at a remarkable CAGR of 10.1% through 2032. Key service segments, including battery services, repair and maintenance, and shared mobility, are adapting to the increasing complexity of modern vehicles equipped with advanced electronics, telematics, and semi-autonomous capabilities.

Battery services are emerging as a critical segment, particularly with the accelerating adoption of electric vehicles requiring specialized diagnostic equipment and technical expertise. The maintenance segment encompasses essential services such as oil changes, tire rotations, fluid replacements, and brake inspections, which remain fundamental for preventing breakdowns and ensuring vehicle safety. Digital technologies are revolutionizing service delivery, with repair shops implementing advanced diagnostic tools, telematics, and mobile applications to enhance operational efficiency and customer communication.

Shared mobility represents a transformative force within automotive services, with the market projected to reach USD 500 billion to USD 1 trillion by 2030, according to McKinsey analysis. The integration of autonomous vehicle technologies and shifting consumer preferences toward sustainable, cost-effective mobility solutions are driving unprecedented demand for innovative automotive service models and maintenance paradigms across traditional and emerging mobility platforms.