Forecasted growth in Germany's maintenance and repair of motor vehicles sector shows a steady upward trend from 2024, with turnover increasing from €33.26 billion to €35.64 billion by 2028. Considering this progression, the year-on-year growth varies between approximately 1.9% to 2.1%, leading to a compounded annual growth rate (CAGR) of around 1.8%. In 2023, turnover stood at an estimated €32.95 billion, marking a consistent optimism in the sector’s resilience and consumer reliance on repair services.
Future trends to watch for:
- Electrification of vehicles, requiring new skill sets and tools for maintenance.
- Impact of economic cycles on consumer spending and repair needs.
- Technological advancements in diagnostics and repair techniques.
- Regulatory changes influencing sustainability practices and costs.