Analysis of sales in automobile maintenance services within other legal organizations in Japan indicates a declining trend. In 2023, the sector stood at 26.88 billion Japanese Yen. Observing the year-on-year variations, we see significant fluctuations, with a steep decline in 2017, followed by minor recoveries and declines thereafter. Over the past two years, the sector experienced a decline: -3.9% in 2022 and -9.34% in 2023. The compound annual growth rate (CAGR) for the past five years reveals an overall decreasing trend at -8.24%. Future projections from 2024 to 2028 predict a further reduction, with a forecasted 5-year CAGR of -12.3% and an overall forecasted contraction rate of -48.11% by 2028.
Future trends to watch for:
- Technological advancements in automotive services
- Impact of electric vehicles requiring different maintenance
- Policy changes affecting the automotive industry
- Shifts in consumer behavior towards car ownership and maintenance