The phrase “global garage and service station market” is more than simply catchy; it truly encompasses all the revenue generated by auto repair businesses that typically handle car diagnosis, repair, and service. With more organized companies entering the worldwide garage and service station industry, the market is expanding. When a vehicle travels a particular distance, these stations offer several maintenance operations that are completed. The manufacturer of the vehicle often specifies the servicing intervals, which vary greatly depending on the type of vehicle.
According to projections, the global market for garages and service stations will be worth US$ 2,031.98 million in 2022, an increase of 10.2 percent over the previous year. The industry is anticipated to grow at a CAGR of 11.3 percent to reach US$ 5,927.48 million by 2032.
Engine tuning, fuel filter replacement, air filter replacement, spark plug replacement, engine oil change, car washing, lubricating, and greasing are some of the key services offered by garages and repair facilities.
The demand for garages and related services is mostly influenced by automobile ownership and the number of vehicles on the road. One of the key elements impacting each company’s profitability is its location, along with marketing tactics.
Key Players:
Firestone Complete Auto Care, Meineke, Jiffy Lube, Midas, Safelite Group, Monro Muffler Brake, etc.
