Auto Repair Market Size was valued at USD 829.8 Billion in 2023. The Global Auto Repair Market industry is projected to grow from USD 916.9 Billion in 2024 to USD 1844.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.50% during the forecast period (2024 - 2032). Technological advancement and increased vehicle sales are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The expanding global vehicle sales are essentially driving market CAGR for automotive repair. As vehicle sales rise and more automobiles are on the road, there is an increased demand for maintenance, repairs, and servicing. This rise is driven by a variety of factors, including population growth, greater disposable income, urbanization, and the expansion of the middle class in emerging economies. Consumers swap in their older cars for newer ones, and the vehicle replacement cycle contributes significantly to the continued demand for repair and maintenance services. As vehicles become more sophisticated with cutting-edge technologies and intricate systems, the need for frequent maintenance and expert repairs grows to ensure peak performance and dependability.
Automotive repair and maintenance companies are increasingly placing diagnostic devices in customer vehicles to enhance their service offerings. Onboard diagnostics systems are used to monitor vehicle characteristics and identify potential faults through diagnostics. For instance, Koovers, an automobile maintenance service provider, offers an onboard diagnostics tool to its registered customers. Its call center receives the fault detected by the tool and contacts the customer for the necessary repair work. This allows garages to check for essential parts for the car even before it is brought in for service, lowering wait times.
The rising automotive sector is likely to drive future expansion in the automotive repair market. The automotive industry is a broad term that refers to the organizations and businesses that design, develop, produce, market, sell, and maintain automobiles. Automotive repair and maintenance services are an essential component of the whole automotive industry, working together to ensure the continuous functionality, safety, and longevity of vehicles. For example, in May 2023, data from the European Automobile Manufacturers Association, a Belgian-based association that represents automobile manufacturers, showed a 5.7% increase in global motor vehicle production in 2022, reaching 85.4 million units compared to the previous year. As a result, the rising automobile sector is propelling the automotive repair market. Thus driving the Auto Repair Market revenue.
The Auto Repair Market segmentation, based on Service Type, includes Mechanical, Exterior & structural, Electrical And Maintenance. Mechanical segment holds a dominating position in the market. This category focuses on the repair and maintenance of vehicle mechanical components such as engines, transmissions, brakes, suspension systems, and more. Mechanical repairs are critical to ensure the correct operation and safety of automobiles. This segment's services include engine diagnostics, oil changes, brake repairs, steering and suspension repairs, and general mechanical inspections.
Passenger cars, two-wheelers, Electric vehicles, Hybrid vehicles, Commercial vehicles And Luxury vehicles are the segments of Vehicle Type in the Auto Repair Market. In 2023, the passenger cars segment's revenue share was noticeably large. The amazing rise of this sector can be linked to three important factors: rising consumer disposable income, increased demand for personal vehicles, and expanding urbanization. Furthermore, the rising average age of cars in use has resulted in an increase in demand for repair and maintenance services.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. In 2023, the North American market became the leading force in the worldwide vehicle repair and maintenance services sector. This importance can be linked to the region's high auto ownership rate, combined with an aging vehicle fleet, resulting in a huge need for auto repair and maintenance services. Furthermore, the presence of multiple notable car manufacturers and suppliers has aided the development of a strong automotive repair and maintenance service sector in the region.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Auto Repair Market accounts for the second-largest market share. This is due to the large vehicle population and the culture of car ownership. Independent repair shops, franchise companies, and dealership service centers are major industry players, offering services ranging from routine maintenance to intricate repairs. Further, the German Auto Repair Market held the largest market share, and the UK Auto Repair Market was the fastest-growing market in the European region.
The Asia-Pacific Auto Repair Market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to urbanization and population growth. Buyers want automobiles with automotive repair and maintenance services that have innovative repair methods that are both durable and fast. Moreover, China’s Auto Repair Market held the largest market share, and the Indian Auto Repair Market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Auto Repair Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Auto Repair industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Auto Repair industry to benefit clients and increase the market sector. In recent years, the Auto Repair industry has offered some of the most significant advantages to medicine. Major players in the Auto Repair Market, including Bosch Car Service, ADNOC, Nippon Express Co., Car Parts.com Inc, Belron International Ltd., EUROPART Holding GmbH and others, are attempting to increase market demand by investing in research and development operations.
Belron International Limited is a British automotive glass repair and replacement company that operates in 34 countries and employs more than 25,000 people. Belron is headquartered in Egham, Surrey, United Kingdom, and its brands include Autoglass in the United Kingdom, Ireland, and Poland, Carglass in the majority of Europe, O'Brien AutoGlass in Australia, Safelite in the United States, Smith & Smith in New Zealand, and Lebeau and Speedy Glass in Canada. In November 2022, Belron International Ltd. confirmed its submission of a Commitment Letter to the Science Based Targets initiative (SBTi). This letter represents their determination to adopt science-based emission reduction targets that fit with the objectives of the Paris Agreement.
TVS Group is an Indian conglomerate headquartered in Madurai. It owns over 50 companies, including the two-wheeler producer TVS Motor Company and TVS Supply Chain Solutions. In June 2022, MyTVS Accessories, a completely owned subsidiary of TVS Automobile Solutions Pvt. Ltd., sells car accessories. Ltd. developed its "Life360" digital platform to provide its clients with a variety of auto maintenance services. A three-year subscription costs $60 (INR 5,000) due to the use of a subscription-based business strategy. In addition to mechanical, collision and maintenance, diagnostic, roadside assistance, accessories, and vehicle services, it also provides full repair services.
In January 2023, AutoNation, Inc., the largest auto retailer in the United States, announced that it has successfully acquired epairSmith, a full-service mobile solution for vehicle repair and maintenance with a significant operational footprint in the western and southern US. RepairSmith is situated in Los Angeles.
In July 2022, FullSpeed Automotive TM announced aggressive growth intentions through acquisitions to achieve its goal of 1,000 units by the end of 2023. FullSpeed automobile® is a renowned franchisor and operator of automobile aftermarket repair facilities, including the flagship brands Grease Monkey® and SpeeDee Oil Change & Auto Service®.
In October 2019, Driven Brands Inc., a US vehicle aftermarket company, finalized its acquisition of ABRA Automotive Systems LP.
North America
Europe
Asia-Pacific
Rest of the World
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 829.8 Billion |
| Market Size 2024 | USD 916.9 Billion |
| Market Size 2032 | USD 1844.4 Billion |
| Compound Annual Growth Rate (CAGR) | 10.50% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Service Type, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Bosch Car Service, ADNOC, Nippon Express Co., Car Parts.com Inc, Belron International Ltd., EUROPART Holding GmbH, Hance's European, Inter cars, LKQ Corporations, M& M Auto Repair, Mekonomen Group, Mobivia Groupe, My TVS, Sun Auto Service, USA Automotive and Wrench, Inc. |
| Key Market Opportunities | Increasing used car sales provides numerous chances for significant enterprises in the automobile repair industry. |
| Key Market Dynamics | The average amount of miles traveled by car is increasing. |
Frequently Asked Questions (FAQ) :
The Auto Repair Market size was valued at USD 829.8 Billion in 2023.
The global market is projected to grow at a CAGR of 10.50% from 2024 to 2032.
North America had the largest share of the global market.
The key players in the market are Bosch Car Service, ADNOC, Nippon Express Co., Car Parts.com Inc, Belron International Ltd., EUROPART Holding GmbH and others.
The Mechanical category dominated the market in 2023.
The passenger car category had the largest share of the global market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
