Car repair industry in Europe has dominated authorized car service center market in 2018 and it is expected to remain dominant by 2025. According to statistics, the number of road accidents increased by 4% in Germany last year. Increasing number of road fatalities and the rising demand for high-quality body repair services are the major factors driving the demand for car service centers in Europe. Automobile manufacturers, including Volkswagen, Ford, Maruti Suzuki, and Mazda, offer body repair services, such as brake service, wheel balancing, and painting. In addition, growing vehicle sales will drive the market for car body services in the region.
The authorized car service center market in North America is expected to grow at a rapid rate during the forecast period. The growing number of passenger cars is encouraging the growth of this market. With the increasing popularity of electric and hybrid vehicles, car owners are increasingly opting for regular car servicing. Besides, stringent government regulations are also driving the need for regular servicing of cars. Thus, an authorized car service center is a vital part of the automobile industry in North America.
Automobile service centers are expected to witness rapid growth during the forecast period. Increasing number of passenger cars is driving the growth of authorized car service centers in North America. Leading domestic and global automobile manufacturers like General Motors, Hyundai, Honda, Nissan, and Tesla are expanding their presence in the region and opening new manufacturing plants to serve more consumers. Furthermore, strict government regulations are driving the need for regular car servicing, which will increase the number of automobile service centers in the region.
The demand for automobile services in the region is predicted to grow at a high CAGR during the forecast period. Rising numbers of passenger cars have increased the number of authorized car service centers. The growing number of passenger cars in the region is expected to boost the growth of the authorized car service center market in North America over the next few years. To meet this demand, leading automobile manufacturers are investing in new manufacturing plants and expanding their network. Toyota, for example, announced plans to invest USD 13 billion in its U.S. operations over the next five years.
The authorized car service center market in North America is expected to grow at a high CAGR over the forecast period, driven by the rising number of passenger cars in the region. With a growing number of consumer preferences and growing number of vehicle sales, the industry is experiencing a thriving competitive environment. Moreover, strict government regulations are driving the demand for car service centers. With the availability of certified service centers, the automotive industry is likely to experience steady growth over the forecast period.
The authorized car service center market in North America will continue to grow at a high CAGR over the forecast period. The presence of leading automobile manufacturers in the region is a major factor driving the growth of these service centers. As a result, the market is expected to grow at a high CAGR over this time frame. The growth rate of the authorized car service center in North America will increase at a significant pace in the coming years.
The authorized car service center market in North America is estimated to grow at a CAGR of over 4% over the forecast period. The growing passenger car market is primarily driven by rising demand for automobiles and the presence of leading domestic and global automobile manufacturers. Increasing consumer preference for these vehicles has resulted in an increase in the number of automobile repair and maintenance centers in North America. As a result of these trends, authorized car service centers are rapidly gaining traction among vehicle owners.
The authorized car service center market in North America is estimated to grow at a CAGR of more than 4% during the forecast period. The rise in passenger car numbers in the region is attributed to the presence of leading global and domestic automobile manufacturers. Additionally, increasing government regulations are driving the need for regular servicing of vehicles. The industry is expected to grow at a CAGR of over 4% over the forecast period. The key drivers driving the growth of the market are heightened customer preferences for hybrid and electric cars and stringent government regulations.
