Major companies in the automotive repair and maintenance market include Arnold Clark Automobiles Limited; Asbury Automotive Group; Ashland Automotive; Belron International Ltd. and Carmax Autocare Center.
New York, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Repair and Maintenance Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06009737/?utm_source=GNW
The global automotive repair and maintenance market is expected to grow from $641.4 billion in 2020 to $690.07 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. 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 $879.4 billion in 2025 at a CAGR of 6%.
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 automotive repair and maintenance market is segmented into automotive mechanical and electrical repair and maintenance; automotive body, paint, interior, and glass repair; and other automotive repair and maintenance.
Asia Pacific was the largest region in the global automotive repair and maintenance market, accounting for 33% of the market in 2020. Western Europe was the second largest region accounting for 30% of the global automotive repair and maintenance market. South America was the smallest region in the global automotive repair and maintenance market.
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%.
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.
Read the full report: https://www.reportlinker.com/p06009737/?utm_source=GNW
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