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Authorized Car Service Center Market Size

Report ID: GMI2701
Published Date: Dec 2022
Report Format: PDF

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Authorized Car Service Center Market Size

Authorized Car Service Center Market size valued at USD 200 billion in 2022 and is anticipated to register 5% CAGR from 2023 to 2032.

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According to a report published in November 2021 by the World Economic Forum (WEF), the total share of car trips taken by customers is predicted to reach 76.1% and 40.3% in North America and Asia respectively by 2050. These figures might prompt companies to open authorized car service centers to serve their growing customer base.

According to the European Environment Agency (EEA), the transportation sector is one of the biggest contributors to carbon dioxide emissions. Cars and vans account for close to two-thirds of the total carbon discharge, which will accelerate the establishmentof authorized car service centers to ease access to high-quality vehicle servicing solutions.

Authorized Car Service Center Market Report Attributes
Report Attribute	Details
Base Year:	2022
Authorized Car Service Center Market Size in 2022:	USD 200 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5%
2032 Value Projection:	USD 350 Billion
Historical Data for:	2018 to 2022
No. of Pages:	200
Tables, Charts & Figures:	226
Segments covered:	Auto Body Workshop, Service, Vehicle Age, and Region
Growth Drivers:	High motorization rate Stringent government regulations for fuel economy and carbon emission Growth in passenger cars and aftersales service industry Increasing old car fleet and reduced road infrastructure spending Proliferating automobile industry and increasing demand for high-end cars
Pitfalls & Challenges:	Growing unauthorized car service centers Rising use of electric vehicles

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Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market for authorized car service centers recorded a valuation of more than USD 200 billion in 2022 and is anticipated to grow at a CAGR of over 5% between 2023 and 2032, due to the growing rate of motorization in prominent regions such as North America and Europe.

The engine servicing segment is projected to register a growth of 8% through 2032, given the importance of regular servicing in augmenting operating efficiency, improving fuel economy, and providing proper lubrication to ensure a smooth driving experience.

The Europe market is expected to depict a CAGR of around 4.5% through 2032 owing to the presence of luxury as well as low-cost automobile manufacturers offering a wide range of vehicle maintenance services at economical price ranges.

Some of the leading players in the global market include Toyota, Volkswagen, Suzuki Motor Corporation, Robert Bosch GmbH, and many others.