Automotive Repair & Maintenance Market Analysis - Trends, Developments and Growth Deviations Resulting from COVID-19
DUBLIN, June 26, 2020 /PRNewswire/ -- The "Global Automotive Repair and Maintenance Markets 2020-2030 - Implications and Recovery from COVID-19" report has been added to ResearchAndMarkets.com's offering.
The global automotive repair and maintenance market is expected to decline from $693.5 billion in 2019 to $691.7 billion in 2020 at a compound annual growth rate (CAGR) of -0.3%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $828.6 billion in 2023.
Asia-Pacific was the largest region in the global automotive repair and maintenance market, accounting for 33% of the market in 2019. Western Europe was the second largest region accounting for 30% of the global automotive repair and maintenance market. South America was the smallest region in the global automotive repair and maintenance market.
Companies involved in the automotive repair and maintenance are increasingly IoT technology to enhance repairs, restorations and maintenance of automobiles and improve their efficiency. Repair and maintenance companies use IoT to enable sensors inside vehicles to connect to manufacturers in order to get real-time status of car components. This helps to identify potential part failures before they occur. IoT also helps the customers to set-up a repair work request at the shop from a far distance integrated with payment through smartphone. For instance, repair and maintenance service providers such as AutoBodyToolMart use IoT technology to connect to manufacturers and provide customers with quality service.
Report Scope
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider automotive repair and maintenance market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the Covid 19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of Covid 19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The automotive repair and maintenance market section of the report gives context. It compares the automotive repair and maintenance market with other segments of the repair and maintenance market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, automotive repair and maintenance indicators comparison.
Key Topics Covered
1. Executive Summary
2. Report Structure
3. Automotive Repair and Maintenance Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Automotive Repair and Maintenance Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Automotive Repair and Maintenance Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Automotive Repair and Maintenance Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Automotive Repair and Maintenance Market Trends And Strategies
8. Automotive Repair and Maintenance Market Size And Growth
8.1. Market Size
8.2. Historic Market Growth, Value ($ Billion)
8.2.1. Drivers Of The Market
8.2.2. Restraints On The Market
8.3. Forecast Market Growth, Value ($ Billion)
8.3.1. Drivers Of The Market
8.3.2. Restraints On The Market
9. Automotive Repair and Maintenance Market Regional Analysis
9.1. Global Automotive Repair and Maintenance Market, 2019, By Region, Value ($ Billion)
9.2. Global Automotive Repair and Maintenance Market, 2015-2019, 2023F, 2025F, 2030F, Historic And Forecast, By Region
9.3. Global Automotive Repair and Maintenance Market, Growth And Market Share Comparison, By Region
10. Automotive Repair and Maintenance Market Segmentation
10.1. Global Automotive Repair and Maintenance Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Automotive Mechanical and Electrical Repair and Maintenance
- Automotive Body, Paint, Interior, and Glass Repair
- Other Automotive Repair and Maintenance
10.2. Global Automotive Repair and Maintenance Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Bike & Scooter
10.3. Global Automotive Repair and Maintenance Market, Segmentation By Service Providers, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Automotive Dealership
- Franchise General Repair
- Specialty Shop
- Locally Owned Repair Shops/Body Shop
- Others
11. Automotive Repair and Maintenance Market Segments
11.1. Global Automotive Mechanical and Electrical Repair and Maintenance Market, Segmentation By Type, 2015-2019, 2023F, 2025F, 2030F, Value ($ Billion) - General Automotive Repair; Automotive Exhaust System Repair; Automotive Transmission Repair; Other Automotive Mechanical and Electrical Repair and Maintenance
11.2. Global Automotive Body, Paint, Interior, and Glass Repair Market, Segmentation By Type, 2015-2019, 2023F, 2025F, 2030F, Value ($ Billion) - Automotive Body, Paint, and Interior Repair and Maintenance; Automotive Glass Replacement Shops
11.3. Global Other Automotive Repair and Maintenance Market, Segmentation By Type, 2015-2019, 2023F, 2025F, 2030F, Value ($ Billion) - Automotive Oil Change and Lubrication Shops; Car Washes; All Other Automotive Repair and Maintenance
12. Automotive Repair and Maintenance Market Metrics
12.1. Automotive Repair and Maintenance Market Size, Percentage Of GDP, 2015-2023, Global
12.2. Per Capita Average Automotive Repair and Maintenance Market Expenditure, 2015-2023, Global
Companies Mentioned
- Arnold Clark Automobiles Limited
- Asbury Automotive Group
- Ashland Automotive
- Belron International Ltd.
- Carmax Autocare Center
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