CLEVELAND, Dec. 20, 2016 /PRNewswire/ -- Revenues generated by US automotive repair and maintenance service establishments are forecast to grow 2.2% annually to 2020. The number of light vehicles in use is expected to exceed 263 million in 2020, and many of these vehicles are approaching an age where costly repairs become more likely.
Automotive repair and maintenance providers also stand to benefit from an ongoing consumer shift away from do-it-yourself services as technology loadings in light vehicle systems become more complex. Demographic changes also contribute to this shift. The graying Baby Boom cohort is increasingly unable to repair their own vehicles, while younger generations tend to be less interested in doing so, despite a wealth of free repair instructions available via the internet.
These and other insights are featured in Automotive Repair & Maintenance Services: United States, a report recently released by Freedonia Focus Reports, a division of The Freedonia Group. http://www.freedoniagroup.com/freedonia-focus/automotive-repair-maintenance-services-united-states-FF95018.htm
The report forecasts US revenues of automotive repair and maintenance service establishments in US dollars to 2020. Total revenues are segmented by establishment in terms of:
- general repair
- body, paint, and interior
- car wash and detail
- oil change and lubrication
- other establishments such as brake, diagnostic, and electrical repair providers.
The report also forecasts employer establishments for automotive repair and maintenance services in unit terms.
To illustrate historical trends, total revenues and the various revenue and employer establishment segments are provided in annual series from 2005 to 2015.
Please link any media or news references to our reports or data back to www.freedoniagroup.com.
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/increasing-number-age-of-us-vehicles-drives-growth-in-automotive-services-300379991.html
SOURCE The Freedonia Group