Tires segment to contribute the largest market share in the automotive repair and maintenance services market
The global automotive repair and maintenance services market to register an incremental growth of USD 94.28 billion, witnessing a CAGR of over 3% during 2020-2024, according to latest market research analysis by Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the automotive repair and maintenance services market in optimistic, probable, and pessimistic forecast scenarios.
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Technavio has announced its latest market research report titled Global Automotive Repair and Maintenance Services Market 2020-2024 (Graphic: Business Wire)
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The automotive repair and maintenance services market will witness a Negative and Inferior impact during the forecast period owing to the extensive spread of the COVID-19 pandemic. Furthermore, as per Technavio’s pandemic-focused research highlights, the market growth is likely to Increase compared to 2019.
Automotive Repair and Maintenance Services Market 2020-2024: Vendor Analysis
The market is fragmented. Key players in the market have been launching several initiatives and introducing innovative products and services to cater to a larger target audience during the pandemic. With a rapidly shifting focus toward creating a digital marketplace to provide a convenient platform for stakeholders in the supply chain, several companies in the market are resorting to move their businesses online along with existing brick-and-mortar channels.
Major automotive repair and maintenance services market participants are
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Arnold Clark Automobiles Ltd.
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Asbury Automotive Group Inc.
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Ashland Automotive Inc.
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Belron Group SA
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Bridgestone Corp.
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Carmax Autocare Center
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Driven Brands Inc.
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Halfords Group plc
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Jiffy Lube International Inc.
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THE GOODYEAR TIRE & RUBBER CO.
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Automotive Repair and Maintenance Services Market 2020-2024: Segmentation
Automotive Repair and Maintenance Services Market is segmented as below:
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Vehicle Type
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Passenger vehicle
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Commercial vehicle
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Parts and Services
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Tires,
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Wear and tear parts
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Collision body
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Batteries
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Others
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Tires segment will account for the largest share as it offers traction between the road and the vehicle due to which it needs to be checked and maintained regularly. Also, tires can wear down due to mechanical issues, such as misaligned suspension.
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Geography
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APAC
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Europe
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North America
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South America
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MEA
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APAC region will account for the highest incremental growth during the forecast period due to the increasing disposable income and the launch of new models.
The automotive repair and maintenance services market is driven by the need to ensure safety of passengers and the rise in demand for electric vehicles, as per Technavio’s pandemic impact-focused research study. Furthermore, Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, and significant developments in vendor operations and government regulations in Consumer Discretionary industry.
For gaining more insights about the impact of COVID-19 pandemic on related reports, check out Technavio’s Consumer Discretionary section
Key Considerations for Market Forecast:
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Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
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Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
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Pre- as well as post-COVID-19 market estimates
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Quarterly impact analysis and updates on market estimates
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Table of Contents:
Executive Summary
Market Landscape
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Market ecosystem
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Value chain analysis
Market Sizing
Five Forces Analysis
Market Segmentation by Parts and services
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Market segments
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Comparison by Parts and services
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Tires – Market size and forecast 2019-2024
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Wear and tear parts – Market size and forecast 2019-2024
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Collision body – Market size and forecast 2019-2024
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Batteries – Market size and forecast 2019-2024
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Others – Market size and forecast 2019-2024
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Market opportunity by Parts and services
Market Segmentation by Vehicle type
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Passenger vehicle
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Commercial vehicle
Customer landscape
Geographic Landscape
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Geographic segmentation
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Geographic comparison
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North America – Market size and forecast 2019-2024
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APAC – Market size and forecast 2019-2024
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Europe – Market size and forecast 2019-2024
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MEA – Market size and forecast 2019-2024
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South America – Market size and forecast 2019-2024
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Key leading countries
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Market opportunity by geography
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Market drivers
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Market challenges
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Market trends
Vendor Landscape
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Vendor landscape
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Landscape disruption
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Competitive scenario
Vendor Analysis
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Vendors covered
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Market positioning of vendors
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Arnold Clark Automobiles Ltd.
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Asbury Automotive Group Inc.
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Ashland Automotive Inc.
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Belron Group SA
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Bridgestone Corp.
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Carmax Autocare Center
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Driven Brands Inc.
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Halfords Group plc
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Jiffy Lube International Inc.
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THE GOODYEAR TIRE & RUBBER CO.
Appendix
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