Automotive service market size to grow by USD 351.69 billion from 2022 to 2027; Arnold Clark Automobiles Ltd., Asbury Automotive Group Inc., among others, identified as key vendors – Technavio

NEW YORK, April 26, 2023 /PRNewswire/ — The global automotive service market size is estimated to increase by USD 351.69 billion between 2022 and 2027. The market’s growth momentum will be progressing at a CAGR of 7.65% during the forecast period. Discover more such key insights on market size historic period (2017 to 2021) and Forecast (2023 to 2027) before buying the full report – Request a sample report

Global Automotive Service Market – Vendor Analysis

The global automotive service market is fragmented and is characterized by the presence of well-diversified local, regional, and international vendors. Vendors compete based on several factors, such as price, service, brand image, and marketing. The competitive environment in this market is expected to intensify during the forecast period, with an increase in strategies by the vendors and the adoption of advanced technology. Some of the key vendors covered in the report include:

• Arnold Clark Automobiles Ltd. – The company offers automotive services such as manufacturer service and value service.
• Asbury Automotive Group Inc. – The company offers automotive services such as oil changes, brakes, tires, and alignment.
• Ashland Automotive Inc. – The company offers automotive services such as electrical, engine repair, oil change, and transmission services.
• Belron International Ltd. – The company offers automotive services through its subsidiaries O’Brien and Safelite Autoglass.
• Bridgestone Corp.
• Carmax Autocare Center
• Driven Brands Holdings Inc.
• EUROPART Group GmbH
• Halfords Group Plc
• Inter Cars S.A
• Jiffy Lube International Inc.
• LKQ Corp.
• M and M Automotive
• MEKO Auto Components Inc.
• Mobivia
• Monro Inc.
• Sumitomo Corp.
• The Goodyear Tire and Rubber Co.
• USA Automotive
• Wrench Inc.

What’s New? –

• Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report!

Global Automotive Service Market – Segmentation Assessment

Segment Overview

Technavio has segmented the market based on type (mechanical services, exterior and structural services, and maintenance services), vehicle type (passenger cars, light commercial vehicles, two-wheelers, and heavy commercial vehicles), and geography (North America, APAC, Europe, South America, and Middle East and Africa). 

• The market growth in the mechanical services segment will be significant over the forecast period. The segment includes services such as oil filter changes, wiper blade replacement, new tires, battery replacement, and others. The segment is driven by the high demand for commercial vehicles, especially light-duty commercial vehicles. The increasing demand for passenger cars in various countries, such as India, China, Brazil, and others, will also drive the growth of the segment.

Geography Overview

The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive service market.

• North America will account for 31% of the market growth during the forecast period. The regional market is driven by the development of advanced engines by vendors operating in countries such as the US and Canada. The high concentration of commercial vehicle manufacturers has also boosted the growth of the regional market. In addition, the increased investments in the establishment of automobile manufacturing facilities in Mexico are driving the growth of the automotive service market in North America.

To learn more about key market insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 – Download a Sample Report

Global Automotive Service Market – Market Dynamics

Leading Driver – 

The market is driven by the increasing vehicle population. The market has witnessed significant growth in the automotive sector, especially in developing regions such as APAC. For instance, according to India Energy Storage Alliance, the EV market in India is likely to grow at a CAGR of 36% until 2026. In China, the factors such as high production capacity, expansion plans, and the development of new energy vehicles are increasing the number of vehicles. Similarly, in Brazil, international OEMs and tire suppliers have invested in production facilities. In addition, the rising per capita income has boosted purchasing power of consumers, thereby leading to lucrative demand for automobiles. As a result of these factors, the market size is expected to increase during the forecast period.

Key Trend –

Increased vehicle digitization and electrification is identified as the key trend in the market. The advent of the latest technologies and the development of modern vehicles have transformed the automotive industry. Mechanical components are being replaced with electronic systems with the growing need for increased information to the driver, reduced fuel consumption, lower emissions, and increased safety and convenience. Automakers are incorporating various features to highlight product differentiation and to sustain in the competitive market. They are introducing several advanced features in mid-end and low-end cars. In addition, the growing focus of OEMs on ADAS technologies has increased the number of electronic components in vehicles. Such developments are creating opportunities for automotive service providers to provide solutions to aid in optimizing the components used in vehicles. All these factors are driving the growth of the market.

Major challenge – 

The uncertainty of the automobile industry is the major challenge hindering the growth of the market. The market is currently facing several negative impacts of the global semiconductor chip shortage and the ongoing Russia–Ukraine war. The shortage of chips has hampered the production of new automobiles. The invasion of Ukraine by Russia has increased the costs of various raw materials used in the production of automobiles. Such factors have created uncertainty in the global automotive industry, which is hindering the growth of the market in focus.

Drivers, trends, and challenges can play a key role in growth of the businesses. Find more insights in the sample PDF now!

What are the key data covered in this automotive service market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the automotive service market between 2023 and 2027
• Precise estimation of the size of the automotive service market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the automotive service market industry across North America, APAC, Europe, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of automotive service market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Vehicle Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global automotive service market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on Global automotive service market 2017 – 2021 ($ billion)

• 4.2 Type Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 – 2021 ($ billion)

• 4.3 Vehicle type Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Vehicle type Segment 2017 – 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 30: Chart on Type – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type – Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Mechanical services – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Mechanical services – Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Mechanical services – Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Mechanical services – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Mechanical services – Year-over-year growth 2022-2027 (%)

• 6.4 Exterior and structural services – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Exterior and structural services – Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Exterior and structural services – Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Exterior and structural services – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Exterior and structural services – Year-over-year growth 2022-2027 (%)

• 6.5 Maintenance services – Market size and forecast 2022-2027 
• Exhibit 42: Chart on Maintenance services – Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Maintenance services – Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Maintenance services – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Maintenance services – Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Type 
• Exhibit 46: Market opportunity by Type ($ billion)
• Exhibit 47: Data Table on Market opportunity by Type ($ billion)

7 Market Segmentation by Vehicle Type

• 7.1 Market segments
• Exhibit 48: Chart on Vehicle Type – Market share 2022-2027 (%)
• Exhibit 49: Data Table on Vehicle Type – Market share 2022-2027 (%)

• 7.2 Comparison by Vehicle Type 
• Exhibit 50: Chart on Comparison by Vehicle Type
• Exhibit 51: Data Table on Comparison by Vehicle Type

• 7.3 Passenger cars – Market size and forecast 2022-2027 
• Exhibit 52: Chart on Passenger cars – Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on Passenger cars – Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on Passenger cars – Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Passenger cars – Year-over-year growth 2022-2027 (%)

• 7.4 Light commercial vehicles – Market size and forecast 2022-2027 
• Exhibit 56: Chart on Light commercial vehicles – Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on Light commercial vehicles – Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on Light commercial vehicles – Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Light commercial vehicles – Year-over-year growth 2022-2027 (%)

• 7.5 Two wheelers – Market size and forecast 2022-2027 
• Exhibit 60: Chart on Two wheelers – Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Data Table on Two wheelers – Market size and forecast 2022-2027 ($ billion)
• Exhibit 62: Chart on Two wheelers – Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Two wheelers – Year-over-year growth 2022-2027 (%)

• 7.6 Heavy commercial vehicles – Market size and forecast 2022-2027 
• Exhibit 64: Chart on Heavy commercial vehicles – Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Data Table on Heavy commercial vehicles – Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Chart on Heavy commercial vehicles – Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Heavy commercial vehicles – Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Vehicle Type 
• Exhibit 68: Market opportunity by Vehicle Type ($ billion)
• Exhibit 69: Data Table on Market opportunity by Vehicle Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027 
• Exhibit 75: Chart on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 APAC – Market size and forecast 2022-2027 
• Exhibit 79: Chart on APAC – Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on APAC – Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.5 Europe – Market size and forecast 2022-2027 
• Exhibit 83: Chart on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027 
• Exhibit 87: Chart on South America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on South America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 91: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027 
• Exhibit 95: Chart on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 China – Market size and forecast 2022-2027 
• Exhibit 99: Chart on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.10 UK – Market size and forecast 2022-2027 
• Exhibit 103: Chart on UK – Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on UK – Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.11 Germany – Market size and forecast 2022-2027 
• Exhibit 107: Chart on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 108: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 109: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.12 Japan – Market size and forecast 2022-2027 
• Exhibit 111: Chart on Japan – Market size and forecast 2022-2027 ($ billion)
• Exhibit 112: Data Table on Japan – Market size and forecast 2022-2027 ($ billion)
• Exhibit 113: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ billion)
• Exhibit 116: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 Arnold Clark Automobiles Ltd. 
• Exhibit 123: Arnold Clark Automobiles Ltd. – Overview
• Exhibit 124: Arnold Clark Automobiles Ltd. – Product / Service
• Exhibit 125: Arnold Clark Automobiles Ltd. – Key offerings

• 12.4 Asbury Automotive Group Inc. 
• Exhibit 126: Asbury Automotive Group Inc. – Overview
• Exhibit 127: Asbury Automotive Group Inc. – Business segments
• Exhibit 128: Asbury Automotive Group Inc. – Key offerings
• Exhibit 129: Asbury Automotive Group Inc. – Segment focus

• 12.5 Ashland Automotive Inc. 
• Exhibit 130: Ashland Automotive Inc. – Overview
• Exhibit 131: Ashland Automotive Inc. – Product / Service
• Exhibit 132: Ashland Automotive Inc. – Key offerings

• 12.6 Belron International Ltd. 
• Exhibit 133: Belron International Ltd. – Overview
• Exhibit 134: Belron International Ltd. – Product / Service
• Exhibit 135: Belron International Ltd. – Key offerings

• 12.7 Bridgestone Corp.
• Exhibit 136: Bridgestone Corp. – Overview
• Exhibit 137: Bridgestone Corp. – Business segments
• Exhibit 138: Bridgestone Corp. – Key news
• Exhibit 139: Bridgestone Corp. – Key offerings
• Exhibit 140: Bridgestone Corp. – Segment focus

• 12.8 Carmax Autocare Center 
• Exhibit 141: Carmax Autocare Center – Overview
• Exhibit 142: Carmax Autocare Center – Product / Service
• Exhibit 143: Carmax Autocare Center – Key offerings

• 12.9 Driven Brands Holdings Inc. 
• Exhibit 144: Driven Brands Holdings Inc. – Overview
• Exhibit 145: Driven Brands Holdings Inc. – Business segments
• Exhibit 146: Driven Brands Holdings Inc. – Key offerings
• Exhibit 147: Driven Brands Holdings Inc. – Segment focus

• 12.10 EUROPART Group GmbH
• Exhibit 148: EUROPART Group GmbH – Overview
• Exhibit 149: EUROPART Group GmbH – Product / Service
• Exhibit 150: EUROPART Group GmbH – Key offerings

• 12.11 Halfords Group Plc
• Exhibit 151: Halfords Group Plc – Overview
• Exhibit 152: Halfords Group Plc – Business segments
• Exhibit 153: Halfords Group Plc – Key offerings
• Exhibit 154: Halfords Group Plc – Segment focus

• 12.12 Jiffy Lube International Inc. 
• Exhibit 155: Jiffy Lube International Inc. – Overview
• Exhibit 156: Jiffy Lube International Inc. – Product / Service
• Exhibit 157: Jiffy Lube International Inc. – Key offerings

• 12.13 LKQ Corp.
• Exhibit 158: LKQ Corp. – Overview
• Exhibit 159: LKQ Corp. – Business segments
• Exhibit 160: LKQ Corp. – Key offerings
• Exhibit 161: LKQ Corp. – Segment focus

• 12.14 Mobivia
• Exhibit 162: Mobivia – Overview
• Exhibit 163: Mobivia – Product / Service
• Exhibit 164: Mobivia – Key offerings

• 12.15 Monro Inc.
• Exhibit 165: Monro Inc. – Overview
• Exhibit 166: Monro Inc. – Product / Service
• Exhibit 167: Monro Inc. – Key offerings

• 12.16 Sumitomo Corp.
• Exhibit 168: Sumitomo Corp. – Overview
• Exhibit 169: Sumitomo Corp. – Business segments
• Exhibit 170: Sumitomo Corp. – Key news
• Exhibit 171: Sumitomo Corp. – Key offerings
• Exhibit 172: Sumitomo Corp. – Segment focus

• 12.17 The Goodyear Tire and Rubber Co. 
• Exhibit 173: The Goodyear Tire and Rubber Co. – Overview
• Exhibit 174: The Goodyear Tire and Rubber Co. – Business segments
• Exhibit 175: The Goodyear Tire and Rubber Co. – Key news
• Exhibit 176: The Goodyear Tire and Rubber Co. – Key offerings
• Exhibit 177: The Goodyear Tire and Rubber Co. – Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 178: Inclusions checklist
• Exhibit 179: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 180: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 181: Research methodology
• Exhibit 182: Validation techniques employed for market sizing
• Exhibit 183: Information sources

• 13.5 List of abbreviations 
• Exhibit 184: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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