From 2013 to 2023, the tourism consumption of motor vehicle repair and maintenance services in Australia experienced fluctuations, with significant impacts observed in 2020 due to the pandemic causing a drastic -43.23% decline. Recovery was noted in 2021 with a substantial year-on-year growth of 62.89%, with steady growth continuing to 1.32% in 2023, reaching a value of AUD 615 million. The 5-year CAGR leading up to 2023 was 1.35%.
Forecasts indicate a moderate growth trajectory with a 5-year CAGR of 1.01% expected from 2024 to 2028. By 2028, consumption is anticipated to grow by 5.16% from 2023 levels, reaching approximately AUD 650.88 million.
Future trends to watch for include:
- Impacts of advancements in vehicle technology on repair services.
- Changing tourism patterns and their effects on service demand.
- Potential disruptions from economic fluctuations or global events.
- Innovations in the automotive aftermarket and maintenance sectors.
