CLEVELAND (Dec. 22, 2016) — Revenue generated by U.S. automotive repair and maintenance service establishments should grow 2.2 percent a year through 2020, as the total U.S. light vehicle parc expands and the price of repairs rises.
That's the assessment of Cleveland-based Freedonia Group in a new focus report, "Automotive Repair & Maintenance Services: United States."
The study covers the period 2015-2020, during which time the value of the repair services business should grow to $133 billion, Freedonia said. The study encompasses a range of repair and maintenance services, including general repair; body, paint and interior; car wash and detail; oil change and lubrication; glass; transmission; exhaust; other automotive repair establishments; gas and repair stations; and new car dealers.
The largest discrete segment is general repair, Freedonia said, where revenues are projected to increase to $61.2 billion in 2020, remaining the largest discrete segment. Advances in this segment will be supported by expanding disposable personal income levels as well as the vehicle parc.
The sector projected to grow the fastest is car wash and detail, where Freedonia sees revenues expanding 3.3 percent a year to 2020.