Chester T. Dean Gurugram, India, May 03, 2021 (GLOBE NEWSWIRE) —
- The automotive downturn and the COVID-19 pandemic led to a sustained downward trend in new passenger car sales in FY21
- The aftermarket spare parts market is expected to grow with a CAGR of 8.2% and the multi-brand automotive service market with a CAGR of 11.9% during the forecast period FY’20-FY’25.
Increase in the number of post-warranty cars in India: The Indian auto industry is witnessing an increase in the number of out-of-warranty cars, which is leading to an increase in demand for multi-brand auto service companies in India. About 65% of post-warranty cars visit multi-brand service centers in India, while only 35% of post-warranty users return to authorized service centers. Multi-brand service centers cost 40% less than authorized auto service center, which is the main reason consumers turn to multi-brand service center during the post-warranty period. The number of post-warranty cars is expected to experience a CAGR of 3% during the forecast period FY’20-FY’25.
Growing adoption of technology by multi-brand service center in India: The Indian auto service market is witnessing the emergence of auto technology service startups, leading to the consolidation of the huge service segment of unorganized auto repair garages. The use of advanced technology has been a vital resource for multi-brand networks to stay ahead. Companies have started offering app-based tracking, live updates and personalized customer-side communication, spare parts ordering, and tech-enabled reporting on the garage side, attracting large numbers of consumers. The increasing adoption of technology by these companies allows for easier deployment of services.
Strong growth in used car sales: India is witnessing healthy growth in used car sales, which signals the increase in the average age of cars, hence a boost for the auto services market. The shift in consumer attention from buying new vehicles to servicing old ones is leading to an increase in the number of used cars on the road, which is leading to an increase in the demand for multi-brand car servicing. The Indian used car market is expected to witness a CAGR of 5% in terms of the number of used cars sold during the forecast period FY’20-FY’25.
The report titled “India Multi-Brand Car Service Market Outlook to 2025: Home Car Servicing, Real-Time Service Status to Drive Multi-Brand Car Service Penetration in India” by Ken Research suggested that the multi-brand market is expected to grow further in the near future as companies provide value-added services such as providing real-time service status. The market is expected to register a positive CAGR of 11.9% in terms of revenue during the forecast period FY’20-FY’25.
Key segments covered in the Indian multi-brand automotive services market
Through Vehicle type
- Tailgate
- SUV
- Sedan
- Luxury
- Electric car
By vehicle age
- 4-10 years old
- >10 years
By region
- Southern region
- Northern region
- Western region
- eastern region
By service
- Periodic maintenance
- Mechanical and electrical repair
- Collision Repair
- Car detailing and car maintenance
Spare parts in India after market segmentation
By type of spare parts
- Transmission and steering
- Electrical and electronic components
- Engine components
- Suspension and braking
- Consumables and Miscellaneous
- Cooling systems
- Rubber components
Key target audience
- Automotive companies
- OEM automotive service companies
- Multi-brand automotive service companies
- Automotive aftermarket companies
Period entered in the report:
- Historical period: FY’15-FY’20
- Forecast period: FY’20-FY’25
Multi-brand car dealerships/service providers:
- Mahindra Premium Service
- My TVs
- 3M Car Care
- go mechanic
- Pit stop
- Carz
- Bosch car service
Aftermarket aggregators/online marketplaces:
- boodmo
- Coinsbigboss
- AutoKartz
- Spare hub
- Mechkartz
Main topics covered in the report
- Overview of the car care market in India
- Analysis of the multi-brand car care market in India
- Aftermarket spare parts industry in India
- Operating Model Ecosystem of Multi-Brand Automotive Service Players
- Operating model of multi-brand car maintenance players
- Franchisee Requirements for Operating a Multi-Brand Automotive Service Center
- Multi-Brand Automotive Service Partnership Model
- Technological model for a multi-brand automotive service center
- Cross-comparison of leading multi-brand automotive service companies
- Company Profiles of Major Companies
- Cross-comparison of major aftermarket aggregators/online marketplaces
- India Unorganized Automotive Services Market
- Future landscape of multi-brand car service in India
- Multi-Brand Automotive Services Market in India
- Automotive services market in India
- After-sales service market in India
- OEM Aftermarket in India
- Local car service in India
- car repair in india
- Local garages in India
- New cars sold in India
- Used cars sold in India
- Passenger car parks in India
- Sales of passenger vehicles in India
- Pre-warranty cars in India
- Hatchback Car Repair India
- Sedan Car Service in India
- SUV Car Service in India
- Drive, transmission and steering India
- Electrical and Electronic Components India
- Engine Components India
- Suspension and braking India
- Consumables and Miscellaneous India
- Cooling Systems India
- Rubber Components India
- Operating model of a multi-brand car service in India
- India Multi-Brand Automotive Service Partnership Model
- M&A activity in multi-brand automotive service India
- Porters Five Forces for car maintenance in India
- Challenges faced by multi-brand automotive service companies
- Car Service Pricing in India
- OEM car service price in india
- Automotive spare parts ecosystem in India
- Competition in the automotive services market in India
- India Auto Parts Competition
- The future of multi-brand car services in India
- The future of auto spare parts in India
- Mahindra Premium Service
For more information see this link
India Multi-Brand Car Service Market Outlook to 2025: Home Car Servicing, Real-Time Service Status to Drive Multi-Brand Car Service Penetration in India
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Contact us:
Ken Research
Ankur Gupta, Marketing and Communications Manager
[email protected]
+91-9015378249
