Frequently asked questions
The global automotive repair and maintenance services market was valued at USD 845.9 Billion in 2022.
The automotive repair and maintenance services market is expected to grow at a CAGR of 5.5% between 2023 and 2030, reaching USD 1230.5 Billion in 2030.
Engine oils are the leading segment by service providers, holding over 30% share in value in 2022.
The locally-owned repair shops segment governs the global demand for automotive repair and maintenance services, holding a massive share of over 20% in 2022.
The passenger cars equipment segment is expected to post the highest CAGR during the forecast period.
Asia Pacific is fuelling the growth of the automotive repair and maintenance services industry, with an over one-third share in 2022.
The top players include Asbury Automotive Group, Goodyear Tire & Rubber Company, Lookers Group, Monro Muffler Brake, and Pendragon Vehicle Management.
The major market drivers are increasing vehicle sales, aging vehicle fleet, technological advancements in vehicles, and growing complexity of modern vehicles.
Major market restraints are the rising cost of vehicle parts and components and the shortage of skilled technicians.
Electric vehicle (EV) servicing, diagnostic and software services, fleet maintenance services, and adoption of advanced technologies like autonomous driving and connected cars.