Ocean View, DE -- (SBWIRE) -- 05/26/2020 -- The Asia Pacific authorized car service center market is projected to grow immensely owing to the increasing vehicle sales in countries like China, India and Australia. The region's thriving automobile industry could fuel the demand for car maintenance and repair station. According to the Australian Automotive Aftermarket Association (AAAA), in 2017, the nation had the maximum car ownerships, with an estimate 764 cars per 1,000 people. Increase in traffic density and congestion may also lead to wear and tear of vehicles, thereby fueling increased requirement for regular vehicular maintenance for proper functioning in APAC.
The global authorized car service center market is thriving on the cusp of valuable maintenance services. Strict federal regulations imposed in countries like Europe, mainly to enhance vehicle fuel economy and proper functioning, have pressured vehicle owners to opt for car service centers.
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Vehicles aged over three years usually require regular maintenance for proper operation and compliance with regulatory norms. Preventive maintenance helps car owners to preserve their vehicle's resale value as well as help avoid sudden failures. With growing awareness pertaining to regular car maintenance, authorized OEM service station and independent garages could accrue considerable growth. Moreover, increasing occurrence of frequent repairs for dents and scratches could compliment the car body services segment.
Surging passenger vehicle demand and consistent regulatory efforts to facilitate progress in the auto industry will fuel authorized car service center market trends. Major investments by auto manufacturers to broaden their manufacturing scope are driving demand for car servicing facilities.
Global authorized car service center market from the organized multi-brand service provider workshop segment is expected to grow at the fastest pace over the predicted timeline given the superior vehicle repair services for myriad auto brands offered by key industry players at economical price points.
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Major multi-brand service companies such as Mahindra, Bosch, TVS Automobile Solutions and more are shifting focus towards expanding their service departments and offering lucrative servicing packages to car fleet operators.
To cite an example, Bosch inaugurated their new CoCo Bosch car service outlet in Bengaluru, in January 2017, equipped with top of the line servicing equipment including tire changers, nitrogen tire inflators, headlight aligners and wheel aligners, all designed to cater to a vast array of vehicle brands.
Table of Contents (ToC) of the report:
Chapter 5 Authorized Car Service Center Market, By Services
5.1 Key trends, by services
5.2 Engine
5.2.1 Market estimates and forecast, 2014 – 2025
5.3 Transmission
5.3.1 Market estimates and forecast, 2014 – 2025
5.4 Brakes
5.4.1 Market estimates and forecast, 2014 – 2025
5.5 Suspension
5.5.1 Market estimates and forecast, 2014 – 2025
5.6 Electrical
5.6.1 Market estimates and forecast, 2014 – 2025
5.7 Body
5.7.1 Market estimates and forecast, 2014 – 2025
5.8 Tires
5.8.1 Market estimates and forecast, 2014 – 2025
5.9 Belts & accessories
5.9.1 Market estimates and forecast, 2014 – 2025
Chapter 6 Authorized Car Service Center Market, By Vehicle Age
6.1 Key trends, by vehicle age
6.2 Less than three years
6.2.1 Market estimates and forecast, 2014 – 2025
6.3 More than three years
6.3.1 Market estimates and forecast, 2013 – 2024, (USD Billion)
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