Automotive Repair and Maintenance Services Market to Witness Growth 2027
Posted by FMI1234 on November 1st, 2017
Future Market Insights delivers key insights and a revised forecast of the global Automotive Repair and Maintenance Services market in the report titled ‘Automotive Repair and Maintenance Services Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment 2017-2027.’ The long-term outlook on the global Automotive Repair and Maintenance Services market remains positive with the market value expected to increase at a CAGR of 5.8% during the forecast period (2017-2027). Among services and parts segment, the tires segment is expected to expand at a significant CAGR in terms of value over the forecast period. The market value of Automotive Repair and Maintenance Services is estimated to be valued at US$ 479,371.8 Mn by the end of 2017. In terms of value, North America is estimated to account for a market share of 27.2% in the global automotive repair and maintenance services market by 2017 end and it is anticipated to retain its dominance throughout the forecast period. In this report, Future Market Insights throws light on drivers and restraints likely to impact the market during this period.
In the latest report by FMI on global automotive repair and maintenance services market, the forecast has been revised until 2027. Previously the market in 2016 was estimated to be US$ 441,351.1 Mn and in the current release the estimated value have been revised to US$ 454,351.1Mn for 2016 with a ten year CAGR (17-27) to be 5.8%. Owing to macro-economic growth factors (GDP, inflation, employment, spending) growth in the target market the market size has been revised for the entire forecast period.
Regional Market Projections
North America is anticipated to account for 27.2% market share in terms of value in the global Automotive Repair and Maintenance Services market by the end of 2017. U.S. is expected to hold a dominant revenue share in the North America Automotive Repair and Maintenance Services market through 2027. The APEJ market is projected to hold a significant market share in terms of value in the global Automotive Repair and Maintenance Services market over the forecast period, exhibiting a CAGR of 8.6% over the forecast period.
The report highlights some of the top companies operating in the global Automotive Repair and Maintenance Services market, such as Arnold Clark Automobiles Limited, Asbury Automotive Group, Inc., Ashland Automotive, Inc., Belron International Ltd., Carmax Autocare Center, Driven Brands, Inc., Firestone Complete Auto Care, Goodyear Tire & Rubber Company, Halfords Group Plc., Jiffy Lube International, Inc., Lookers Plc., Monro, Inc., Pendragon Plc., Sumitomo Corporation
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