Global Automotive Service Market Overview:
Automotive services include collision repair, painting, steam cleaning, and commercial carwashes, as well as the repair, rebuilding, or reconditioning of motor vehicles or parts thereof. Automotive services serve the automotive industry with design, engineering, testing, maintenance, repair, as well as manufacturing services. Auto parts manufacturing, automotive process assembly, and car engine machine repair are all part of the automotive services industry. Brake design, clutch repair, and diesel engine maintenance are all examples of automotive services.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Integration Of Advance Technology Such As Computer Vision and Machine Learning And Other
Market Growth Drivers:
Increase In Awareness Regarding Vehicle Maintenance And Vehicle Safety
Challenges:
High Cost Associated With Professional Automotive Services
Restraints:
Lack Of Skilled Professionals
Opportunities:
Increasing Sales Of Used Cars Across Many Regions Would Further Increase The Demand Of Automotive Services and Government Strict Regulations For The Maintenance Of The Vehicle
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Genpact (United States), Firestone Complete Auto Care (United States), Goodyear Tire&Rubber Company (United States), Asbury Automotive Group (United States), Lookers Plc (United Kingdom), Pendragon (United Kingdom), Tech Mahindra Limited (India), SGS SA (Switzerland), Belron International (United Kingdom) and Arnold Clark Automobiles (United Kingdom). Additionally, following companies can also be profiled that are part of our coverage like Jiffy Lube International, Inc. (United States), Halfords Group (United Kingdom), Monro (United States), Meineke Car Care Centers, Inc. (United States) and Midas (Australia). Analyst at AMA Research see United States Vendors to retain maximum share of Global Automotive Service market by 2030. Considering Market by Services, the sub-segment i.e. Automotive Repair will boost the Automotive Service market. Considering Market by Technology , the sub-segment i.e. Computer Vision will boost the Automotive Service market.
Latest Market Insights:
On 7 June 2021 The Goodyear Tire & Rubber Company announced that it has completed its acquisition of Cooper Tire & Rubber Company, finalizing the merger agreement. The combination unites two leading tire companies with complementary product portfolios, services and capabilities to create a stronger U.S.-based leader in the global tire industry.
In May 2023, Hindustan Unilever Limited (HUL), India's largest fast-moving consumer goods company, launched Be. Released Seen. It is owned by India's minority and underrepresented groups. Aimed at advancing diversified and sustainable sourcing, the initiative will allow a handful of companies to be absorbed into the supply chains of large consumer products companies, including HUL.
What Can be Explored with the Automotive Service Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Automotive Service Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Automotive Service
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Automotive Service market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Automotive Service market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.