Global Garage And Service Station
Market Report
2024
The Global Garage And Service Station market size was USD 1.9 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 11.70% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global garage & service station market size was USD 1.9 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 11.70% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Garage And Service Station Market Sales Revenue 2022 | $ 1.9 Billion |
Global Garage And Service Station Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 11.7% |
Market Split by Product Type |
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Market Split by Sector |
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Market Split by Ownership |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Garage And Service Station Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Due to the likelihood that older vehicles would need more regular maintenance and replacement parts, the aging of the vehicle fleet will help the industry thrive. Higher yearly mileage is another major reason driving up the cost of maintaining taxis and other shared vehicles. This is due to the growing demand for shared mobility.
These developments empower businesses to offer better-tailored solutions and services, which, in turn, contribute to the growth of the garage & service station industry.
For instance, nearly 72% of all motor vehicles worldwide are passenger automobiles, according to the Japan Automobile Manufacturers Association (JAMA). The potential for passenger car use is expected to rise significantly in emerging nations like China, India, and Mexico, driven by a young population, a burgeoning middle class, and rising family incomes. Additionally, passenger car travel enables various emergency services, including home care and medical aid.
(Source:www.jama.or.jp/english/reports/docs/MIoJ2022_e.pdf)
Vehicle sales growth is a significant market driver for garage & service stations. The automobile industry is moving quickly towards a new era marked by increasing sustainability, shifting consumer habits, including connected and electric vehicles, mobility fleet sharing, and bettering lifestyles. India, China, and Brazil are among the developing nations that provide the most promise for the automotive industry.
Tata Motors said in February 2022 that domestic passenger vehicle sales increased by 47%. Additionally, compared to the same month in the previous year, there was a 10% increase in passenger automobile registrations in the European Union in June 2021.
The demand for Special Utility Vehicles (SUVs) has also increased recently due to the growing leisure and tourism industries everywhere.
The constraints of machine translation constrain the garage & service station market. Steel, iron, and leather are just a few of the basic materials utilized to make automobile parts and accessories. Additionally, basic derivatives like nylon and polyester are utilized as raw materials to create a variety of automobile parts like tires, seats, and coverings. The prices of these resources occasionally alter because they are traded on a community exchange and because of market fluctuations caused by changes in the world economy. The increase in raw material prices is anticipated to restrain the expansion of the automotive repair and service market during the forecast period due to all the factors above.
The automobile sector is a fundamental building element for many economies, including the U.S., China, and India. Due to global tight sand limitations, the car sector has seen a fall in sales and revenue. The pandemic had a significant impact on the car industry's sales and aftermarket services, which prompted a rise in the adoption of cost-cutting strategies by automotive businesses, such as reducing operational expenses and staff globally. The economic effects of the COVID-19 outbreak on the automobile industry have a significant impact on related businesses, such as the automotive component and aftermarket industries.
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Due to the existence of businesses at both the regional and global levels, the industry is very fragmented. Participants are expected to expand their supply chain networks to profit from being consumer-friendly to win a larger market share. High-profit margins will propel new competitors forward steadily. Additionally, several automakers provide discounts or free inspections to attract a sizable chunk of the market and boost their independent aftermarket positions.
July 2022: FullSpeed Automotive is accelerating growth with an acquisition strategy to help it achieve its 1,000-unit expansion goal by the end of 2023.
March 2021: Monro, Inc. signed a definitive agreement to acquire Mountain View Tyre & Service, Inc., increasing its presence in the sought-after western United States to 116 locations with the addition of 30 California-based stores and an extra USD 45 million in expected annualized sales.
(Source:s201.q4cdn.com/121549564/files/doc_financials/2021/ar/Monro_AR_2021.pdf)
Top Companies Market Share in Garage And Service Station Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2022 and accounted for a share of more than 37% of the global revenue due to several variables. The growth of the garage and service station market is projected to be fueled by factors such as an increase in the average age of vehicles as a result of technical advancements. A surge in used automobile sales for major companies in the North American garage and service station sector also presents a wide range of options.
According to Cognitive Market Research, Using Microsoft's Azure cloud computing, Scope System, a tech company based in the USA, has created an AI-driven automated car inspection system. It only takes a few minutes to complete the entire visual inspection procedure, which results in a 50% cost reduction. Ultimately, drive the market in the U.S.
The region's strong economy and significant presence of multinational firms create a considerable demand for garage & service stations, which promotes global trade and business growth. The demand for repair services is rising throughout Asia, as the Asia-Pacific region is predicted to continue to dominate the worldwide garage and service station industry. Rising demand in Asia Pacific is mostly due to the expanding market for cars and the ensuing need for services linked to their repair and maintenance.
The current report Scope analyzes Garage And Service Station Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Garage And Service Station Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Garage And Service Station Industry growth. Garage And Service Station market has been segmented with the help of its Product Type, Sector Ownership, and others. Garage And Service Station market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, mechanical repair is the item that is utilized the most frequently in the market for garage & service stations. A service station is where daily basic services are carried out in addition to caring for the vehicle, such as mechanical service and small repairs, petrol supply, car lubrication, cleaning and washing. It comprises various sectors, including garage general service, mechanical service, major repair shop, tire shop, paint shop and body shop.
Car washes are the second-most used product. While mechanical repair rules the market, car washes are still necessary for some garages & service stations. The number of customers using professional vehicle washes is anticipated to increase, driving up demand for these services as environmental regulations prohibiting the use of household car washing methods become more restrictive.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Garage And Service Station Industry. Request a Free Sample PDF!
According to Cognitive Market Research, the organized sector are the most extensively used product in the garage & service station market. The deployment of technology like Blockchain to store and preserve information about vehicle ownership, part replacement, and service history can be led by organized actors, boosting consumer confidence.
The garage & service station for unorganized and second in usage. The unorganized dealers also assist in purchasing the automobiles again and alter the value compared to a replacement from their stock. A future sale results from the trusting relationship produced by the dealer and consumers' relationship and faith, which work together to create the relationship.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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The garage & service station market's most popular offering is the locally owned repair establishments. The market share leader was the neighborhood garage category. To provide repair and maintenance services for various vehicles, including hatchbacks, SUVs, sedans, and MPVs, as well as two-wheelers, these firms often have a variety of service bays.
According to Cognitive Market Research, automobile dealerships are the second-most popular product. Increasing vehicle ownership and increasing emphasis on vehicle safety drive demand for auto dealerships and franchise general stores. Service providers can be local repair shops in various regions that service vehicles, franchise stores, and authorized dealerships.
Senior Research Analyst at Cognitive Market Research
An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile & Transportation vertical.
With a work experience of over 10+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as sales, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
I am committed to staying ahead in the rapidly evolving field of research and analysis. This involves regularly attending conferences, participating in webinars, and pursuing additional certifications to enhance my skill set. I played a crucial role in conducting market research and competitive analysis. I have a proven track record of distilling complex datasets into clear, concise reports that have guided key business initiatives. Collaborating closely with multidisciplinary teams, I contributed to the development of innovative solutions grounded in thorough research and analysis.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Garage And Service Station Market is witnessing significant growth in the near future.
In 2023, the Mechanical Repair segment accounted for noticeable share of global Garage And Service Station Market and is projected to experience significant growth in the near future.
The Organized segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Firestone Complete Auto Care , Jiffy Lube International Inc and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Product Type | Mechanical Repair, Collision Repair, Car Washes, Oil Change and Lubrication, Others |
Sector | Organized, Unorganized |
Ownership | Automobile Dealerships, Franchise General Repair Shops, Franchise Specialty Shops, Locally Owned Repair Establishments |
List of Competitors | Firestone Complete Auto Care, Meineke Car Care Centers Inc, Jiffy Lube International Inc, Midas International LLC, Safelite Group Inc, Monro Inc, 3M Company, Automovill Technologies Private Limited, Bayerische Motoren Werke AG (BMW Group), Carnation Auto India Private Limited, CarXpert, Castrol Limited, Groupe Renault, Honda Motor Co Ltd, Robert Bosch GmbH, Toyota Motor Corporation, Volkswagen, Exxon Mobil Corporation, Tilden International Inc, Others |
This chapter will help you gain GLOBAL Market Analysis of Garage And Service Station. Further deep in this chapter, you will be able to review Global Garage And Service Station Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Type Analysis 2019 -2031, will provide market size split by Product Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Type Analysis 2019 -2031
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Chapter 11 Market Split by Sector Analysis 2019 -2031
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Chapter 12 Market Split by Ownership Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Garage And Service Station market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Mechanical Repair have a significant impact on Garage And Service Station market? |
What are the key factors affecting the Mechanical Repair and Collision Repair of Garage And Service Station Market? |
What is the CAGR/Growth Rate of Organized during the forecast period? |
By type, which segment accounted for largest share of the global Garage And Service Station Market? |
Which region is expected to dominate the global Garage And Service Station Market within the forecast period? |
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Additional Quantitative Data |
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