Latest News- Automotive Service Market in US: Mechanical services is expected to lead the Type segment during 2025-2029

The Automotive Service Market in US is being driven by Increasing vehicle population

The Automotive Service Market in US is expected to grow at a CAGR of 9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 81 billion. The automotive industry is undergoing significant transformation due to technological advancements and the introduction of innovative vehicles. In recent years, electronic systems have increasingly supplanted mechanical components in modern automobiles, driven by the demand for enhanced driver information, improved fuel efficiency, reduced emissions, heightened safety features, and superior driving experiences. To remain competitive, Original Equipment Manufacturers (OEMs) are continually refining their product offerings, integrating advanced features into mid- and low-end vehicles to differentiate themselves in the market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Mechanical services
  • Exterior and structural services
  • Maintenance services
• Vehicle Type
  • Passenger cars
  • Light commercial vehicles
  • Two wheelers
  • Heavy commercial vehicles
• Propulsion
  • Internal combustion engine
  • Electric
• Geography
  • US

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing vehicle population
• Growth of automotive post-sale service
• Upgradation of vehicle components

However, the market also witnesses some limitations, which are as follows:

• Uncertainty in automotive industry
• Frequent changes in market dynamics
• Increasing cost pressure on vendors

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Market Scope in Automotive Service Market in US Research Report

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Research Analysis Overview

The Automotive Service Market in the US is witnessing significant growth due to the integration of telematics data and sensor analysis for preventive maintenance and vehicle health monitoring. This leads to repair time reduction, parts cost optimization, and improved customer retention through personalized service strategies. Staff training programs and online service booking enhance shop efficiency, while digital service records, electronic parts catalogs, and warranty management streamline operations. Compliance regulations, safety inspections, and vehicle recalls ensure safety and trust. Data security measures, payment processing systems, and customer communication tools provide convenience and transparency. Appointment reminders, service promotions, and loyalty programs boost revenue growth. Inventory tracking, parts procurement, waste management practices, energy efficiency measures, and environmental compliance contribute to long-term sustainability. Mobile mechanic services offer flexibility and convenience to customers.

Market Research Overview

The automotive service market in the US is a significant segment of the global automotive parts and equipment industry. This market encompasses businesses providing diagnostic software, engine diagnostics, repair database services, vehicle maintenance, and parts inventory management for various automobile types, including passenger cars, electric vehicles, commercial vehicles, heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, the global automotive components and equipment market size is driven by the increasing demand for electronic components in automobiles, such as electronic control units (ECUs) and other electrical components, fueled by the growing sales of electric vehicles, motorcycles, and passenger cars. These factors contribute to the market's expansion and the necessity for advanced diagnostic tools and services in the US automotive service sector.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/