San Jose, California (Vocus) August 9, 2010
Automotive repair & maintenance services signify keeping all features and systems of the vehicle functional in close resemblance to the original design of the manufacturer. Repair and maintenance services also ensure a fixed level of vehicular reliability. All vehicle maintenance programs intend to return maximum performance, service life, and reliability. A vehicle needs a range of repair and maintenance services during its life span. The worldwide market for automotive repair & maintenance services slumped in 2008 and 2009, as a result of global economic crisis. The market, nevertheless, is expected to recover in 2010 and register growth in ensuing years, driven primarily by rapid growth in emerging markets and likely recovery of the industrialized nations from the recession.
Aging of vehicles is one of the paramount features that tilt the balance in favor of automotive repair & maintenance services market. The superior technology and advanced tooling of parts and accessories has resulted in the extension of life of automobiles in the major consuming markets of North America, Europe and Japan. This growing trend has led to the proliferation of old vehicles, as consumers relatively tend to delay replacement of their vehicles. The average median of age of vehicles in the developed countries has reached 10 years, while this is higher in the case of developing world standing currently at 15-20 years. The declining trend of replacement of vehicles aided by the expanding number of vehicles on the road augurs well for the automotive repair & maintenance services market.
The United States dominates the world automotive repair & maintenance services market, as stated by the new market research report on Automotive Repair & Maintenance Services. Demand for automotive repair & maintenance services in the US is expected to witness moderate recovery through 2010 and gain momentum from 2011 onwards. The global economic downturn has made consumers stick to their old cars offering new opportunities to parts suppliers, auto repair specialists, and auto parts stores. However, the automotive repair industry is being threatened by higher degree of cost consciousness prevailing among consumers. Few customers are getting their vehicles fixed upright while few others are stretching the maintenance cycles of cars. General repairs market dominates the US automotive repair & maintenance services market, and is projected to reach $41.2 billion by the year 2012. Body Repair and Painting segment represents the other prominent segment in the US market. While, Oil & Lubricants constitutes the fastest growing segment in the US.
In terms of growth, Asia-Pacific is projected to be the fastest growing regional market for automotive repair & maintenance services. Rapid increase in number of vehicles and steady economic growth are key factors driving growth in the automotive repair & maintenance services markets in Asia-Pacific. China is the largest as well as the fastest growing market for automotive repair and maintenance services in Asia Pacific.
Key players profiled in the report include Arnold Clark Automobiles Limited, Asbury Automotive Group Inc., Belron SA, Big O Tires LLC, Bridgestone Corporation, Bridgestone Retail Operations LLC, Discount Tire Company Incorporated, Group 1 Automotive Inc., Halfords Group Plc, Jiffy Lube International Inc., Lithia Motors Inc., Midas Inc., Monro Muffler Brake Inc., Nationwide Accident Repair Services Plc, STS Tire and Auto Centers, TCG International Inc., The Goodyear Tire & Rubber Company, and Valvoline International Inc., among others.
The report titled “Automotive Repair & Maintenance Services: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of automotive repair & maintenance services markets, impact of recession on the markets, market trends, service overview, service launches, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual revenue estimates and projections for Automotive Repair & Maintenance Services market for the years 2007 through 2015 for the following geographic markets - The United States, Canada, Japan, Europe, Asia-Pacific, Latin America and Middle East. The US market is further analyzed by the following service segments – General Repairs, Body Repair and Painting, Car Wash, Oil & Lubricants, Glass Replacement, Transmission Repair, Exhaust System Repair, and Others. Also, a six-year (2001-2006) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Automotive_Repair_and_Maintenance_Services_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Web Site http://www.StrategyR.com/
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