Global Automotive Repair Market Expected to Grow
July 9, 2019—The Global Automotive Repair and Maintenance Services Market is projected to exhibit a compound annual growth rate (CAGR) of 5.6 percent between 2019 and 2027.
Increasing number of vehicles, increasing disposable income of people, need for improved passenger safety in vehicles, and increasing average age of vehicles are the factors expected to boost the demand of automotive repair and maintenance services over the forecast period.
Furthermore, increase in average miles driven by a vehicle is expected to drive the demand for automotive repair and maintenance services over the period.
Among service providers, locally owned repair shops and body shops segment held the dominant position in the market in 2018 and is expected to retain its position throughout the forecast period, which is due to increasing sales of vehicles across the globe.