Global Authorized Car Service Center Market is slated to grow exponentially through 2032 owing to the rising number of old vehicles available in countries such as Brazil and Mexico. An aging fleet of cars coupled with bad road conditions will increase wear and tear in the vehicle, which, in turn, will further drive the industry's growth over the forecast period.
Less maintenance and repair required by the electric vehicles as compared to the IC engine vehicle is slated to hamper the market growth in the future. However, deploying advanced technologies, such as robotics, by car service center owners or OEMs is expected to augment customers' trust in these centers, further offering growth prospects to the market.
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In addition, key players in the market are trying to expand their portfolio in the market by launching modified and upgraded service centers, to strengthen their foothold in the market. For instance, in July 2022, Rivian, the American EV manufacturer, reported that it is planning to expand the number of service centers in the U.S. to cater to the growing need for car servicing as the sale of electric vehicles picks up.
Overall, the authorized car service center market is segmented in terms of auto body workshop, service, vehicle age, and region.
On the basis of auto body workshop, the OEM authorized workshops segment is slated to grow substantially through 2032. This can be credited to the availability of highly skilled OEM-certified technicians and tools needed for car servicing. In addition, the extended warranty schemes and annual maintenance packages available in the market are expected to support the segmental expansion over the forecast timeframe.
Based on service, the transmission segment held a revenue share of 14% in 2022 and is amassed to register notable gains through 2032. The growth is a result of the multiple transmission alternatives available with automobile manufacturers, including manual and automatic transmissions.
In terms of vehicle age, the less than 3 years segment is projected to grow through 2032, owing to the rising consumer preference to get such vehicles to be repaired, maintained, and serviced across OEM-certified car service centers. The centers offer several benefits compared to other multi-brand centers, including the availability of highly skilled labor, replacements under warranty, and appropriate tools for carrying out vehicle servicing. The current consumer preference coupled with the services provided by the service centers will drive the market growth through 2023-2032.
In the regional context, the North America authorized car service center market accounted for more than 20% of the market share and is expected to grow significantly through 2032. The growth will be attributed to the rising demand for new vehicles and the aging life of the car fleet across the region.
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Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Scope & definitions
1.2 Methodology and forecast parameters
1.3 COVID-19 impact
1.3.1 North America
1.3.2 Europe
1.3.3 Asia Pacific
1.3.4 Latin America
1.3.5 Middle East & Africa
1.4 Data Sources
1.4.1 Secondary
1.4.2 Primary
1.5 Industry Glossary
Chapter 2 Executive Summary
2.1 Authorized car service center industry 360º synopsis, 2018 – 2032
2.2 Business trends
2.2.1 Total addressable market (TAM) trends, 2023 - 2032
2.3 Regional trends
2.4 Auto body workshop trends
2.5 Service trends
2.6 Vehicle age trends
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