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December 22, 2016 01:00 AM

Auto repair revenue to grow 2.2% thru 2020

Tire Business Staff
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    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.

    One key factor affecting growth is technological change, the research firm said, which has extended the service lives of components, increased the complexity and cost of repairs, shifted advertising dollars to the internet and boosted consumer capacity to establish quantifiable expectations of service quality and cost.

    In addition, government regulations impacting the industry typically pertain to waste disposal and emissions.

    The report includes a "market environment" section that provides pertinent background on historical trends, key economic indicators, technology and environmental and regulatory factors.

    The report also looks at establishment revenues, discusses market drivers and constraints, identifies substitute services when applicable, and assesses the impact of key drivers and constraints on each establishment revenue segment over the forecast period.

    The 28-page report is available from Freedonia for $750 for individual access or $1,050 for corporate accounts. To order visit the firm's website, freedoniagroup.com.

     

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      • Humanitarian Award
      • RETAIL TIRES
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      • RUSSIA WAR IN UKRAINE
    • Aligning with ADAS
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      • DATA STORE
    • Custom
      • SPONSORED CONTENT
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      • LIVESTREAMS
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      • SEMA LIVESTREAMS
    • Resources
      • DIRECTORY
      • CLASSIFIEDS
      • SHOP FLOOR
        • BALANCING
        • DEMOUNTING
        • SAFETY
        • TIRE REPAIR
        • TPMS
        • TRAINING
        • VEHICLE LIFTING
        • WHEEL TORQUE
      • AWARDS
        • Best Places to Work
    • ADVERTISE
    • DIGITAL EDITION