New York, Feb. 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Repair and Maintenance Global Market Report 2022" - https://www.reportlinker.com/p06229733/?utm_source=GNW
The global automotive repair and maintenance market is expected to grow from $750.84 billion in 2021 to $836.27 billion in 2022 at a compound annual growth rate (CAGR) of 11.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1237.49 billion in 2026 at a CAGR of 10.3%.
The automotive repair and maintenance market consists of sales of automotive repair and maintenance services by entities (organizations, sole traders and partnerships) that provide automotive repair and maintenance services for passenger automobiles, commercial vehicles and motorcycles and bicycles.
The main types of automotive repair and maintenance are automotive mechanical and electrical repair and maintenance, automotive body, paint, interior, and glass repair, other automotive repair and maintenance.The automotive mechanical and electrical repair and maintenance sector is made up of businesses that specialise in transmission repair, and electrical system repair, engine repair and maintenance and exhaust system replacement.
The different vehicle types include passenger cars, light commercial vehicles, heavy commercial vehicles, bike & scooter and involves several service providers such as automotive dealership, franchise general repair, specialty shop, locally owned repair shops/body shop, others.
Automotive repair and maintenance service providers are increasingly installing diagnostic devices in customer vehicles to improve their service offerings.On-board diagnostics tools are being used to track vehicle condition and identify potential problems by running diagnosis.
For instance, Koovers, a car maintenance services provider, fits an on-board diagnostics tool for its registered customers.Its call centre picks up the error reported by the tool and connects with the customer for required repair work.
This enables garages to check for required parts for the car even before the car is brought in for service thus reducing wait time.
Automotive repair and maintenance services companies are increasingly using artificial intelligence based automated vehicle inspection technology for vehicle inspection.Automated vehicle inspection systems capture pictures of the vehicle entering the cabin from multiple angles and uploads it to the central computing system which then compares it with standards to identify deviations.
The system generates a report with an overview of all the issues flagged in the car and the required actions needed to be taken.For instance, Scope technology, a US based Tech Company, has developed an AI automated vehicle inspection technology in collaboration with Microsoft’s Azure cloud computation.
ProovStation, a French automobile maintenance service provider, implemented these systems in their service centers in France and North America.They use the technology to conduct a 360o scan of the vehicle, identify the damages such as scratches, dents, dirt, suspension, frame, brakes and engine condition, and generate a report of the issues identified.
The system generates a unique code and account for the vehicle with its chassis number for future service purposes. This entire visual inspection process is completed in less than 5 minutes and reduces costs by 50%.
Western Europe was the largest region in the automotive repair and maintenance market in 2021.Asia Pacific was the second largest region in the automotive repair and maintenance market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the automotive repair and maintenance market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.
Read the full report: https://www.reportlinker.com/p06229733/?utm_source=GNW
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