1. Market Research
  2. > Automotive Market Trends
  3. > Auto Services

Automobile Services: Must-Read Reports & Statistics

  • Currently 0/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
0 vote

Automotive Service Market Outlook

The automotive industry is characterized by intense competition, technological innovation, and is concentrated, with the 10 leading vehicle manufacturers representing close to 80% of global production. The automotive services industry is reliant on the automotive industry, following the same market pressures and showing the same sensitivity to general economic conditions. As the automotive industry begins to rebound following the global financial crisis, the supporting industries around it are also showing recovery. As government legislation to limit environmental harm from vehicle emissions sees specialized market segments take off, such as electric cars, the service industry will need to continue diversifying and working on technological innovation to keep up with new trends in vehicle production.

Global Automotive Service Industry

Auto service market research covers vehicle sales, leasing, and after sales services, including servicing and the sale of vehicle parts. The upkeep and repair of vehicles is becoming an increasingly complicated task for car owners as vehicles become more complex and use more advanced technology. Workers in the industry require training as the sector involves a high degree of specialization. Currently, there are more than 360,000 employees with certification across the US automotive service industry.

Safety plays a central role in the industry, which is regulated and controlled by legislation to protect workers and encourage effective risk management. There is a high degree of risk because of the amount of manual handling needed, for example welding and working with heavy loads.

Key Automotive Service Segments

Rental and Leasing: Profit from vehicle renting and leasing decreased during the financial crisis. The industry is beginning to rebound, and is expected to reach $53 billion by 2015, according to Global Industry Analysts. Growth in this market segment will come back on line as gross domestic product, employment, income and consumer confidence recover. In addition, as tourism begins to rebound along with people’s discretionary income, leisure car rental will see revenue rise, reaching almost $7 billion in 2013 in the EU market. Leisure car rentals had fallen throughout the financial crisis because of corporate travel cutbacks and a dip in tourism; this segment of the market is highly competitive and includes such leading companies as Hertz, Dollar Thrifty, Avis Budget and Enterprise. The US is the leading region in terms of market share in the global car rental industry, with Europe in second place followed by other developed countries.

Automotive dealers sell new and used cars at retail outlets and can also service cars. Dealerships provide emplyment in a different regions of the world, and are now important actors in the automotive financing sector. The global automotive retail industry is estimated to grow at an annual rate greater than 5.5%, hitting in excess of $5.13 trillion by 2015, according to MarketLine. Sales from automotive dealers accounted for more than $2.04 trillion, or more than half of the total worth of the automotive retail industry.

Drivers and mechanics source car parts in automotive part stores. Such parts include plugs, batteries, brakes and tires, and are necessary for the upkeep of a vehicle, playing an important role in road safety. The fast fit industry, concerned with servicing vehicles as customers wait, is expected to grow at a yearly rate of more than 3% for the five-year period ending 2015, to come to almost $7 billion.

The global automotive repair and maintenance services industry, which keeps vehicles functioning and prolongs the product lifespan, is expected to be worth almost $306 billion by 2015, according to Global Industry Analysts. The US is the world leader in this market segment, with an estimated market value of over $41 billion in 2012. Asia-Pacific is expected to show the strongest regional growth in the automotive repair and maintenance market. 

The global car washing services market is expected to reach almost $27.5 billion by 2017, according to Global Industry Analysts. As vehicle sales (and auto insurance) declined due to the financial crisis, the related global car washing services industry also declined. However, as the automotive industry recovers and sales increase, this market segment is beginning to rebound. The US and the EU lead in terms of market share, with Asia-Pacific expected to show 6% yearly growth through 2017, fuelled by developing markets such as India and China. Leading players on the market include Autobell Car Wash, Turtle Wax, IMO Car Wash, WashTec AG and Mister Car Wash.

  Evolution of the U.S. OE and Aftermarket Parts Market (2005 - 2010)

Read more ยป

Share

You might be interested in these related markets:

24/7 Customer Support

Talk to Sam

+1 718 473 0872

1-10 of about 700 reports

Bank Lending Industry in the US

  • November 2016
    3 pages
  • Auto Financing  

    Automotive  

  • United States  

View report >

Auto Insurance Industry in Europe - Forecast

  • November 2016
    36 pages
  • Auto Insurance  

    Insurance  

  • Europe  

    World  

View report >

The future of the Car Rental Industry in Mauritius

  • October 2016
    11 pages
  • Car Rental  

  • Mauritius  

View report >

Mortgage Industry in the US

  • October 2016
    4 pages
  • Mortgage  

    Auto Financing  

  • United States  

    World  

    North America  

View report >

Mortgage Industry in the US

  • October 2016
    4 pages
  • Mortgage  

    Auto Financing  

  • United States  

    World  

    North America  

View report >

Insurance Industry in China

  • October 2016
    51 pages
  • Insurance  

    Natural Catastr...  

    Reinsurance  

  • China  

    Asia  

View report >

Auto Repair Industry in Africa - Forecast

  • September 2016
    10 pages
  • Auto Repair  

  • Africa  

    Sudan  

View report >

Auto Financing Industry in the US

  • September 2016
    6 pages
  • Auto Financing  

  • United States  

View report >

The future of the Insurance Industry in the US

  • September 2016
    8 pages
  • Insurance  

    Auto Insurance  

  • United States  

View report >

Car Rental Forecast in Australia

  • September 2016
    3 pages
  • Car Rental  

    Car Rental  

  • Australia  

    United States  

    Oceania  

View report >


About 1100 reports

Purchase Reports From Reputable Market Research Publishers
(From $ 87 - $ 14995)

Global Car Rentals Market to 2020: Fleet Size, Rental Occasion and Days, Utilization Rate and Average Revenue Analytics

Global Car Rentals Market to 2020: Fleet Size, Rental Occasion and Days, Utilization Rate and Average Revenue Analytics

  • $ 14995
  • Industry report
  • October 2016
  • by Canadean Ltd

Summary Car Rental (hiring of a passenger vehicle, which includes cars and small vans, by both business and leisure travelers for short term duration; excluding leasing and long term rentals) has evolved ...

Global Hotels Market Analytics To 2020: Rooms And Reven ...

October 2016 $ 14995

Car Rentals Market In Europe To 2020: Fleet Size, Renta ...

October 2016 $ 7995

Car Rentals Market In Asia-pacific To 2020: Fleet Size, ...

October 2016 $ 5995

Car Rentals Market In South America To 2020: Fleet Size ...

October 2016 $ 3995

Tourism Demand And Flow In Middle East And Africa, 2011 ...

October 2016 $ 3995

Car Rentals Market In Middle East And Africa To 2020: F ...

October 2016 $ 3995

Uk Sme Insurance: Competitor Dynamics 2016

October 2016 $ 3450

Car Rentals Market In North America To 2020: Fleet Size ...

October 2016 $ 2995

Car Rentals Market In Brics Nation To 2020: Fleet Size, ...

October 2016 $ 2995

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.