According to Future Market Insights (FMI), an ESOMAR-certified research and consultancy firm, the global automobile repair and maintenance services market is expected to reach US$ 544.5 billion in 2021, with a steady long-term prediction.
The COVID-19 epidemic reduced demand for vehicle repair and maintenance services in 2020. However, because the car industry is rebounding, sales are increasing. The long-term perspective on the market remains encouraging, given the prospect of the market recovering pace in many countries.
The demand for car repair and maintenance services grows as vehicles age and road conditions deteriorate. The demand for various services and parts such as tyre replacement services, collision body repairs, and others is driving the repair & maintenance industry.
With the expanding number of manufacturers around the world, the number of registrations for passenger cars is increasing. Car owners, particularly in middle-income nations, regard their automobiles as important investments, thus they place a high priority on maintenance and repair. According to FMI, passenger vehicles will account for more than 70% of market sales.
Competitive Landscape
- Arnold Clark Automobile Ltd.
- Asbury Automotive Group Inc.
- Ashland Automotive Group Inc.
- Belron International Ltd
- Driven Brands Inc.
- Carmax Autocare Center
- Firestone Complete Autocare
- Goodyear Tire & Rubber Company
- Halfords Group PLC
- Monro Inc.
