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Automotive Repair and Maintenance Services Market

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Automotive Repair and Maintenance Services Market Anticipated to Reach US$ 750 Bn by
2026
According to a new report published by Future Market Insights titled “Automotive Repair and
Maintenance Services Market: Global Industry Analysis & Opportunity Assessment, 2016 – 2026”,
the global automotive repair and maintenance services market is estimated to reach a market
valuation of US$ 441.3 Bn by 2016 end, witnessing a 5.6% CAGR between 2016 and 2026.
Automobile dealership owners will continue to hold dominant share in the global automotive repair
and maintenance services market accounting for over 25% share of the total market by the end of
2016.
Browse Full Report @ https://www.futuremarketinsights.com/reports/automotive-repair-andmaintenance-services-market
Demand for automotive repair and maintenance services is driven by the increase in vehicle age.
With the improvements in material and technology used for automotive manufacturing, the mean
age of passenger cars in the U.S. increased from 9 years in 2000 to 11.6 years in 2015. With the
rising vehicle sales in the U.S. and Western Europe, the demand for automotive repair and
maintenance services is expected to rise exponentially. Also, a reduction in gas and oil prices has
led to an increase in the total miles driven by vehicle owners and this being related to vehicle parts
wear and tear, there is a growing need for vehicle maintenance and repairs – this is another factor
driving the growth of the global automotive repair and maintenance services market.
View and Download TOC of Automotive Repair and Maintenance Services Market Research
Report @ https://www.futuremarketinsights.com/reports/automotive-repair-and-maintenanceservices-market/toc
Segmentation analysis
Future Market Insights’ report on the global automotive repair and maintenance services market
offers useful insights on market performance of the various segments of the global automotive
repair and maintenance services market. Some of the highlights of our research reveal the following
vital points:
Demand for various services and parts in the automotive aftermarket such as tires, engine oil, and
wear and tear parts will continue to gain traction in the coming years
The tires segment is forecast to register a CAGR of 7.9% during 2016 – 2026
The wear and tear parts and engine oil services and parts segments are expected to represent 4.1%
and 8.6% shares of the total incremental opportunity in the coming decade
The automobile dealerships service provider segment is anticipated to be valued in excess of US$
100 Bn by this year end, witnessing a CAGR of 4% during the forecasted period
The passenger cars vehicle type segment was the maximum value generating segment in terms of
vehicle type in 2015 and is projected to gain significant market share over the forecast period. This
segment is anticipated to gain 200 BPS between 2016 and 2026 due to higher sales of passenger
cars in the coming years
Request and Download Sample Report @
https://www.futuremarketinsights.com/reports/sample/rep-gb-987
Regional analysis
North America is the largest market for automotive repair and maintenance services accounting for
over 26% market share in terms of revenue in the global automotive repair and maintenance
services market by the end of 2016. The APEJ automotive repair and maintenance services market
is projected to hold significant market share in terms of value in the global automotive repair and
maintenance services market over the forecast period, exhibiting a CAGR of 8.6% over the forecast
period. This is attributed to increasing vehicle parc in this region and an under developed road
infrastructure in many countries of APEJ.
Vendor insights
The global automotive repair and maintenance services market report analyses the business
performance including short-term and long-term strategies, service offerings, and other
developments of a few of the top market players operating in the global automotive repair and
maintenance services market. The companies profiled in the report are Asbury Automotive Group
Inc., Jiffy Lubes International Inc., Monro Muffler Brake Inc., Driven Brands Inc., and Belron
International Ltd. Mergers and acquisitions seems to be the most preferred strategy adopted by
several market players to expand their global presence and increase market share.
Buy Full Automotive Repair and Maintenance Services Market Report @
https://www.futuremarketinsights.com/checkout/987
Author
vakhas
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