December 12, 2019
According to the research report titled ‘Authorized Car Service Center Market Size By Auto Body Workshops (OEM Authorized Workshops, Organized Multi-brand Service Providers), By Service (Engine, Transmission, Brakes, Suspension, Electrical, Tires, Body, Belts & Accessories), By Vehicle Age (Less than 3 years, More than 3 years) Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the global authorized car service center market is expected to cross USD 300 billion by the year 2025.
Favorable federal reforms to promote the development of automotive industry, in tandem with increasing sale of passenger vehicles are major factors driving the growth of authorized car service center market. Escalating investments by automakers to expand their manufacturing capabilities is also aiding the market expansion.
Apparently, unorganized local garages offer quick services at low cost as compared to single brand and multi-brand garages. Their services are, however, less professional and lack effectiveness for increasing complex vehicles. Rising number of unorganized independent garages will hinder the growth of authorized car service market to some extent.
As per auto body workshops, authorized car service center market from organized multi-brand service providers is presumed to register accelerated growth over the forecast period, as they provide high-quality repairs at minimum costs. The key players are primarily focusing on expanding their service outlets and are offering beneficial packages to fleet operators.
In terms of type of service, car body service segment dominates the authorized car service center industry presently, owing to frequent dents and scratches repairs. However, the engine service segment is estimated to account for 12% market share by the year 2025. Advanced engines comprise of turbocharges which require timely maintenance for improved engine performance.
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Elaborating on geographical landscape, Asia-Pacific market is expected to grow substantially during the analysis timeline, on account of rising sales of vehicles across nations like India, Australia, and China, which is driving the demand for maintenance services. Growing traffic and car congestion are also leading to vehicle wear & tear which as a result is contributing towards the regional market growth.
The prominent companies of authorized car service center market are Honda Motor Co. Ltd., Groupe Renault, Castrol, Carz Care, Carxpert Garage, Carnation, Carmozo, BMW, Automovill Technologies Pvt. Ltd., and 3M among others.
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