The global automotive repair and maintenance services market was valued at US$ 459.1 billion in 2017, and is projected to reach US$ 820.3 billion by 2027, exhibiting a CAGR of 5.6% over the forecast period (2019-2027), according to Global Automotive Repair and Maintenance Services Market Report, by Vehicle type (Bikes and Scooters, Passenger Cars, and Commercial Vehicles), by Service Providers (Automobile, Dealerships, Franchise General Repairs, Locally Owned Repair Shops/ Body Shops, Specialty Shops, and Tire Shops), by Type of Services (Mechanical Services, Exterior and Structural Services, Electrical Services, and Electronics Services), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), published by Coherent Market Insights.
Vehicles need periodic maintenance to reduce the possibility of crashes and delays due to unscheduled downtime. The most important vehicle components that require regular service and maintenance are engines, tires and brakes. Maintenance of these components fuel the automotive repair and maintenance services market growth. The factors such as increase in the sales and production of the vehicles, increase in average age of vehicle owing to technological development and increase in average miles driven per vehicle will ultimately boost growth of the global automotive repair and maintenance services market over the forecast period.
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Key Trends and Analysis of the Global Automotive Repair and Maintenance Services Market:
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