Global Automotive Service Market was valued at US $ $695 Billion in 2023 and is expected to reach US $ 734.8 billion by 2032 growing at a CAGR of 5.51% during the forecast period 2024 – 2032.

Automotive Service Market Trend

The market is being fuelled by the rising sales of automobiles.

The automotive industry has entered a new era of improved lives by connecting and electrifying vehicles, changing consumer behaviours, doing things in ways that are more sustainable. China, India and Brazil are the developing countries with greatest potential for this sector. Tata Motors reports that in February of this year domestic passenger vehicle sales were up 47 %. In June this year, the number of registered passenger cars in Europe went up 10 % from a year earlier. In the midst of all this expansion, in recent years there has been a rapid growth market for SUVs or special utility vehicles.. Also, governments are pushing automakers to build efficient and low-emission cars, which has fueled a need for R&D among those companies. Given the increasing demands for manufacturing and selling automobiles, it is estimated that over this projection period the vehicle repair and maintenance sector will presently see expansion.

Repair and service: These two terms replace a damaged portion of a vehicle or add new components to an existing one. Consumers must replace various auto parts at pre-set intervals. According to driving circumstances, passenger automobiles, for example, require new tires every three to four years. Because of this, the aftermarket for automotive parts is also busy.In addition, demand for repairs and maintenance has been pushed up by customer demands to add in cutting-edge automobile parts that can improve the appearance of a car while adding driver protection. Accordingly, now that customers themselves have a growing tendency in this direction and the aftermarket service is also bursting at its seams. The market for vehicle repairs and maintenance can be expected to see big growth ahead. Involvement of auto component makers makes the industry grow even further. For example, in 2020 Jiffy Lube International Inc. will build a new service center and extend its presence into the Greater Detroit Metropolitan Area It provided a wide range of auto services, such as tire and engine inspections. For all these reasons and more, the market for automobile repair and service is expected to experience enormous growth over our forecast period. boosting the income of automotive service sector.

Segmentation Analysis of the Automotive Service Market

Type Insights

Service for the automotive industry is divided into mechanical, external and structural services as well as maintenance according to type. The mechanical category had the biggest market share in 2017, and should hold sway over estimate period. But service categories are expected to grow at the fastest rate during the forecast period: maintenance services.

Service Provider Insights

According to Service Provider, the Automotive Service Market can be divided up into local garages; tire stores & repair chains and franchise general repairs; OEM authorized service centers and others. In 2022, local garages owned the most market share. These firms typically have several service bays to enable repair and maintenance of many different kinds of automobiles like hatchbacks, SUVs, sedans, MPVs or two-wheelers.

Service Insights

The technical services sector took more than 60 % of the market in 2021. As this period unfolded,the increasing popularity of semi-autonomous and driverless vehicles, especially in developed countries increased the segment's momentum. Special robotic engineering facilities, instrumentation installations and parking buildings and lots must be built for these cars.

The spread of smartphone applications enabling the provisioning of smart parking services should result in market revenues growing quickly over time.. Applications make mobile-enabled payment and simple slot reservation possible. The spread of IoT-based cloud platforms used to assist mobile applications is expected pave the way for greater adoption of smart parking systems. Drivers are also familiar with the smart parking structure, which allows operators to base judgments on well-informed decisions about both parking and payments.

Vehicle Type Insights

The vehicle-type portion of the automotive service market is broken down into passenger cars, light commercial vehicles, heavy commercial vehicles and two wheelers. In 2023 automotive services were dominated by passenger car market. According to the Japan Automobile Manufacturers Association (JAMA) more than 72 % of all motor vehicles in existence around the world are passenger cars. As countries with more younger populations, rising middle classes and higher incomes among families emerge (like China, India and Mexico), passenger car use is expected to experience strong growth.

Propulsion Type Insights

The propulsion type division of the automotive service market includes internal combustion engine (ICE) and electric vehicles. Internal combustion engine was the largest proportion of 2022. This is because after the COVID-19 pandemic there was an increase in demand for ICE vehicles, and passenger cars are increasing worldwide regardless of fuel.

Regional Analysis of the Automotive Service Market 

The report offers market insights for the following regions: North America, Europe, Asia Pacific and the rest of the world. The Automotive Service market area in Asia Pacific will dominate this market. This is the result of its car servicing business growing rapidly on account of large automakers. As the number of cars on Asian roads grows, more and more auto repair and maintenance facilities that are permitted to be established also come into existence. Moreover, India's automotive service market grew fastest while the largest share of the Asia-Pacific market was in China.

In addition, the market study covers the following important nations: China, Japan, India, Australia South Korea Brazil Germany France the UK Italy and Spain.

Investments in R&D for automotive parts are on the rise both for OEMs as well as aftermarket, leading to a 21.3% market share with Europe Automotive Service taking second place behind North America alone. Because there are so many auto suppliers and manufacturers in germany, the climate for expansion is favourable. Moreover, the German Automotive Service market accounted for largest section of the European region and UK's Automobile Service market was fastest growing among all.

The forecast for the North America Automotive Service Market from 2023 to The increase in repair and maintenance facilities explains this. In addition, as the average age of cars rises, and used car sales become more commonplace in America's sun belt. Moreover, the U.S. Automotive Service market accounted for largest share in this region and the Canada Automotive Service market was fastest growing among all five countries of North America.

Recent Developments

July 2022

Humanize The strategy involves Target 1,000 acquisitions and targeted hiring to hit the desired number of stores by the end of this year.

March of 2021

Mountain View Tire & Service, Inc. was established in 1968 and currently operates out of 30 stores located throughout California with gross sales per year totaling USD45 million dollars making it natural target for acquisition by Monro Inc., which bought up the company late last month. Households hungry to relocate from hotspots such as Silicon Valley or often.

January of 2021

In order to ensure continued growth and presence, Jiffy Lube International has already opened more than 2081 franchisee-owned service stations.

Top Key Players

• Asbury Automotive Group, Inc.
• Carmax Autocare Center
• com, Inc.
• Europart
• Firestone
• Hance’s European
• Inter Cars S.A.
• Jiffy Lube International, Inc.
• LKQ Corporation
• M&M Automotive
• MEKO
• Mobivia Groupe
• MyTVS Accessories
• Safelite Group
• Sun Auto Service
• USA automotive
• Wrench, Inc.

Table of Contents

1. Introduction Of Global Automotive Service Market
   1. Overview of the Market
   2. Scope of Report
   3. Assumptions
2. Executive Summary
3. Research Methodology
   1. Data Mining
   2. Validation
   3. Primary Interviews
   4. List of Data Sources
4. Global Automotive Service Market Outlook
   1. Overview
   2. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
   3. Porters Five Force Model
      1. Bargaining Power of Suppliers
      2. Threat of New Entrants
      3. Threat of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power among Buyers
   4. Value Chain Analysis
5. Global Automotive Service Market, By Type
   1. Overview
   2. Maintenance Services
   3. Mechanical
   4. Exterior & Structural
6. Global Automotive Service Market, By Service Provider
   1. Overview
   2. Franchise General Repairs
   3. OEM Authorized Service Centers
   4. Local Garage
   5. Tire Stores & Repair Chains
   6. Others
7. Global Automotive Service Market, By Vehicle Type
   1. Overview
   2. Passenger Cars
   3. Light Commercial Vehicles
   4. Heavy Commercial Vehicles
   5. Two Wheelers
8. Global Automotive Service Market, By Propulsion Type
   1. Overview
   2. Internal Combustion Engine (ICE)
   3. Electric
9. Global Automotive Service Market, By Region
   1. North America
      1. U.S.
      2. Canada
   2. Europe
      1. Germany
      2. U.K.
      3. France
      4. Rest of Europe
   3. Asia Pacific
      1. China
      2. Japan
      3. India
      4. South Korea
      5. Singapore
      6. Malaysia
      7. Australia
      8. Thailand
      9. Indonesia
      10. Philippines
      11. Rest of Asia Pacific
   4. Others
      1. Saudi Arabia
      2. U.A.E.
      3. South Africa
      4. Egypt
      5. Israel
      6. Rest of Middle East and Africa (MEA)
      7. Brazil
      8. Argentina
      9. Mexico
      10. Rest of South America
10. Company Profiles
    1. Altiux Innovations
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    2. Amano McGann, Inc.
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    3. Amco S.A.
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    4. BMW AG (ParkNow GmbH, Parkmobile LLC)
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    5. Cisco Systems, Inc.
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    6. CivicSmart, Inc.
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    7. Deteq Solutions
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    8. Flowbird
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    9. Gtechna
       1. Company Overview
       2. Key Executives
       3. Operating Business Segments
       4. Product Portfolio
       5. Financial Performance (As per availability)
       6. Key News
    10. INDECT Electronics & Distribution GmbH
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News
    11. Kapsch TrafficCom
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News
    12. Libelium Comunicaciones Distribuidas S.L.
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News
    13. Meter Feeder, Inc.
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News
    14. Mindteck
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News
    15. Municipal Parking Services, Inc.
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News
    16. Nedap N.V.
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News
    17. Park Assist
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News
    18. ParkHelp Technologies
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News
    19. ParkJockey
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News
    20. ParkMe Inc.
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News
    21. Robert Bosch GmbH
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News
    22. Siemens AG
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News
    23. SKIDATA AG
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News
    24. Smart Parking Ltd.
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News
    25. SpotHero, Inc.
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News
    26. Swarco AG
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News
    27. Urbiotica, S.L.
        1. Company Overview
        2. Key Executives
        3. Operating Business Segments
        4. Product Portfolio
        5. Financial Performance (As per availability)
        6. Key News

Global Automotive Service Market Segmentation

Automotive Service by Type: Market Size & Forecast 2024-2032

• Maintenance Services
• Mechanical
• Exterior & Structural

Automotive Service by Service Provider: Market Size & Forecast 2024-2032

• Franchise General Repairs
• OEM Authorized Service Centers
• Local Garage
• Tire Stores & Repair Chains
• Others

Automotive Service by Vehicle Type: Market Size & Forecast 2024-2032

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Two Wheelers

Automotive Service by Propulsion Type: Market Size & Forecast 2024-2032

• Internal Combustion Engine (ICE)
• Electric

Automotive Service by Geography: Market Size & Forecast 2024-2032

• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
• South America (Brazil, Argentina, Columbia, Rest of South America)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Major Players:

• Asbury Automotive Group, Inc.
• Carmax Autocare Center
• com, Inc.
• Europart
• Firestone
• Hance’s European
• Inter Cars S.A.
• Jiffy Lube International, Inc.
• LKQ Corporation
• M&M Automotive
• MEKO
• Mobivia Groupe
• MyTVS Accessories
• Safelite Group
• Sun Auto Service
• USA automotive
• Wrench, Inc.