In a nation with ever-growing disposable incomes, the Automobile Repair Services industry is poised for strong growth over the next five years
Los Angeles, CA (PRWEB) December 05, 2011
With over 165 million licensed car drivers and 93 million civilian-owned cars in China, the need for automobile repair services is vast. In a nation with ever-growing disposable incomes, the Automobile Repair Services industry is poised for strong growth over the next five years to total $9.12 billion in 2016, according IBISWorld, America’s largest publisher of industry research.
In China, the Automobile Repair Services industry's revenue is forecast to increase by 11.4% in 2011 alone, due to increased demand spurred on by stimulus policies on vehicles with 1.6-liter engines or below. The industry's performance is greatly influenced by the number of registered vehicles, their average age and the number of miles traveled by these vehicles. Industry growth has been driven by the surging number of vehicles registered, despite rising gasoline prices, which have generally reduced the average miles traveled.
This industry is currently in the mature stage of its life cycle. However, IBISWorld expects the industry to enter a new growth stage in the coming five years. Key drivers for industry growth include the substantial increase in the number of automobiles in China, especially passenger automobiles and private vehicles; automobile manufacturers' authorization to enhance after-sales services; and the introduction of new business models, such as 4S stores and chain operations. By 2016, industry revenue is forecast to amount to $9.12 billion, representing average growth of 11.3% per annum.
For more information, including profit levels, market shares, product segmentation and more, download IBISWorld’s report on Automobile Repair Services in China.
Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189
The Automobile Repair Services industry in China comprises establishments that provide mechanical or electrical repair services for automobiles, including maintenance services and fixing and correcting existing or potential technical malfunctions.
Automobile Repair Services in China Report Key Topics
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on 200 Chinese industries. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.cn or call 1-800-330-3772.