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REPORT: Auto Repair & Maintenance to reach 810 Billion by 2026


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NEW YORK, March 27, 2019 (GLOBE NEWSWIRE) -- The global Automotive Repair & Maintenance Service Market is estimated to reach USD 810.30 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the growing need for passenger’s safety. Increase in awareness related to vehicle maintenance and safety is expected to drive the market. Increased road safety awareness among the general population, the average maintenance and repair expenses by an individual are anticipated to drive the market. Moreover, an increase in sales of used cars in many regions, especially in emerging economies; technological advancements pertaining to vehicle safety, are also fuelling market growth. Furthermore, cost effectiveness, availability of service flexibility and reliable maintenance services are also propelling the market growth globally. Based on statistics, increase in average age of vehicle due to technological advancements and the average miles driven per vehicle are also significant factors stimulating market demand.

North America region is projected to grow at a CAGR of 5.8% during the forecast period with the largest share of 32.50% in 2018. The improving countries are the primary consumers of vehicles in this region. The Automotive repair & maintenance service market in the Asia Pacific has been expanding owing to the rise in technological advances in the area.

Request for a sample of this research report at: https://www.reportsanddata.com/sample-enquiry-form/1158

Further key findings from the report suggest

  • In the Automotive Repair & Maintenance service Market, the tire segment accounts for the largest share of 33.48% in 2018 due to the growing extensive use of vehicles for other daily purposes.
  • Tire services include tire pressure monitoring, replacement of tires, repair of flat tires and misalignment of tires. Battery services cover replacement of automotive batteries. Wear and tear parts include brake wheel end, shock absorbers, driveline, engine, and suspension. Collision body includes crash parts, coating and painting, refinishing and repair materials.
  • In terms of service providers, the automotive repair and maintenance services market is segmented as an automotive dealership, locally owned repair shops, general franchise repairs, and others. The automotive dealership segment is estimated to drive the growth of the market. Presence of various locally owned repair shops is also growing at a significant rate due to the increase in inclination of consumers toward the locally owned shops.
  • Based on service type, the car maintenance service type is valued at USD 299.88 billion in 2018 and is estimated to reach USD 478.08 billion by 2026 at a CAGR of 5.8% during the forecast period.
  • Some of the trending possibilities in the automotive repair and maintenance services market are an inclination towards the adoption of remote vehicle diagnostics system and collaboration & partnership between small locally owned repair shops & fleet and leasing firms.
  • APAC is considered to be the second largest market for automotive repair and service market with revenue of USD 140.39 billion in 2018 and is estimated to reach USD 218.78 billion by 2026 at a CAGR of 5.5%, due to the presence of several automotive hubs in the region. Moreover, large consumption of passenger vehicle across Asia Pacific is also driving the growth.
  • Europe is estimated to grow at a CAGR 4.4%, during the forecast period.
  • Key participants include Arnold Clark Automobiles Limited, Driven Brands, Inc., Ashland Automotive, Inc., Asbury Automotive Group, Inc., Belron International Ltd., Carmax Autocare Center, Jiffy Lube International, Inc., Goodyear Tire & Rubber Company, Halfords Group Plc., Firestone Complete Auto Care.

Read more at: https://www.reportsanddata.com/report-detail/automotive-repair-and-maintenance-service-market

For the purpose of this report, Reports and Data have segmented global Automotive Repair & Maintenance service Market on the basis of Parts, Application, Service type, Technology, Service provider and region:

Parts Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)

  • Tires
  • Wear and tear parts
  • Collision body
  • Batteries
  • Others

Service Type Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)

  • Car Maintenance Services
  • Car Repair Service

Application Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)

  • Passenger vehicle
  • Commercial vehicle
  • Mechanical

Technology Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)

  • Microcomputers
  • Aluminum
  • Wireless
  • Others

Ask for Discount at: https://www.reportsanddata.com/discount-enquiry-form/1158

Service provider Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)

  • Automobile dealerships
  • General franchise repairs
  • Specialty shops
  • Locally owned repair Shops
  • Others

Regional Outlook (Volume, Thousand Units; and Revenue, USD Million; 2016-2026)

  • North America
    1. U.S.
       
  • Europe
    1. Germany
    2. UK
       
  • Asia Pacific
    1. China
    2. India
    3. South-east Asia
       
  • Latin America
    1. Brazil
       
  • MEA

Browse More Reports of Automotive and Transportation Category At: https://www.reportsanddata.com/report/category/automotive-services

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact Us:

John Watson

Head of Business Development

Reports And Data | Web: www.reportsanddata.com

Direct Line: +1-800-819-3052

E-mail: [email protected]

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  • Have you checked out Joe's Latest Blog?

         3 comments
      Got your attention? Good. The truth is, there is no such thing as the perfect technician pay plan. There are countless ways to create any pay plan. I’ve heard all the claims and opinions, and to be honest, it’s getting a little frustrating. Claims that an hourly paid pay plan cannot motivate. That flat rate is the only way to truly get the most production from your technicians. And then there’s the hybrid performance-based pay plan that many claim is the best.
      At a recent industry event, a shop owner from the Midwest boasted about his flat-rate techs and insisted that this pay plan should be adopted by all shops across the country. When I informed him that in states like New York, you cannot pay flat-rate, he was shocked. “Then how do you motivate your techs” he asked me.
      I remember the day in 1986 when I hired the best technician who ever worked for me in my 41 years as an automotive shop owner. We’ll call him Hal. When Hal reviewed my pay plan for him, and the incentive bonus document, he stared at it for a minute, looked up, and said, “Joe, this looks good, but here’s what I want.” He then wrote on top of the document the weekly salary he wanted. It was a BIG number. He went on to say, “Joe, I need to take home a certain amount of money. I have a home, a wife, two kids, and my Harly Davidson. I will work hard and produce for you. I don’t need an incentive bonus to do my work.” And he did, for the next 30 years, until the day he retired.
      Everyone is entitled to their opinion. So, here’s mine. Money is a motivator, but not the only motivator, and not the best motivator either. We have all heard this scenario, “She quit ABC Auto Center, to get a job at XYZ Auto Repair, and she’s making less money now at XYZ!” We all know that people don’t leave companies, they leave the people they work for or work with.
      With all this said, I do believe that an incentive-based pay plan can work. However, I also believe that a technician must be paid a very good base wage that is commensurate with their ability, experience, and certifications. I also believe that in addition to money, there needs to be a great benefits package. But the icing on the cake in any pay plan is the culture, mission, and vision of the company, which takes strong leadership. And let’s not forget that motivation also comes from praise, recognition, respect, and when technicians know that their work matters.
      Rather than looking for that elusive perfect pay plan, sit down with your technician. Find out what motivates them. What their goals are. Why do they get out of bed in the morning? When you tie their goals with your goals, you will have one powerful pay plan.
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