The global garage and service station market is more than just an eye-catching phrase that actually embodies all the business coming up from automobile repair workshops that tends to do diagnosis, repair and servicing for automotive. The market is gaining traction with the increasing number of organised players in the global garage and service station market. These stations provide a series of maintenance procedures that are carried out when a vehicle has travelled a certain distance. The intervals for servicing are highly dependent on the type of vehicle and are generally specified by the vehicle manufacturer.
The major services by the garages and service stations are inclusive of engine tuning, replacement of fuel filter, replacement of air filter, replacement of spark plugs, change of engine oils, car washing, greasing and lubricating, etc. Majorly the demand for garage and related services are dependent on car usage and the number of cars and motors on the road. Convenient location and marketing strategies are some of the chief factors affecting the individual companies’ profitability.
The rising technological advancements and developments in the automotive market are disrupting the market for garages and service stations. There is a trend of an increasing number of personalised vehicles that are networked and technologically radical which at the same time are rooted in driver-assist technologies that tend to fewer accidents and lesser errors and ultimately reduce the need for servicing.
The garage and service station market is expected to grow due to several factors such as the growing automotive industry, increasing safety concerns, increasing automotive aftermarket needs. The marketing of products and services online is increasing which is providing growth potential to the service providers. The increasing number of auto service companies offering various car-related services are also responsible for the growing market for garage and service station market.
Auto repairing is still based on trust which is responsible for the fragmentation of the market with a large number of small garages and service stations. This can again restrain the growth of organized players in the market. On the other hand, unorganized local service stations find difficulty in expanding their base. Additionally, rising technological developments are posing threat to the industry. The industry is also facing a major gap in trust and consumer satisfaction with the garages and service stations which is yet again an obstacle restraining the growing garage and service station market
Garage and Service Station Segmentation By product type – Mechanical Repair, Collision Repair, Car Washes, Oil Change and Lubrication, Others; By type of ownership – Automobile dealerships, Franchise General Repair Shops, Franchise Speciality Shops, Locally Owned Repair Establishments; By sector – Organised, Unorganised
The garage and service station market is expected to register favourable growth for the forecast period, 2015 – 2025. The Asia-Pacific and North American market is projected to endure control on the global garage and service station market followed by Europe and Middle East & Africa. The demand for repairing services is surging across Asian regions. The factors contributing to the rising demand in APAC is the increasing market of vehicles and the succeeding demand for services related to their repair and maintenance.
The global garage and service station market is highly fragmented. Some of the organized auto service companies in the market are Firestone Complete Auto Care, Meineke, Jiffy Lube, Midas, Safelite Group, Monro Muffler Brake etc.
Author – Yogesh
Courtesy of LANEWS.ORG