Growing Demand for Automotive Aftermarket Drives Growth of Passenger Cars MRO Market

Passenger cars maintenance, repair, and overhaul (MRO) market is anticipated to grow at a significant CAGR of 14.2% during the forecast period (2024-2031). The market growth is attributed to the technological advancements in automotive diagnostics and repairs, rising demand for electric and hybrid vehicle maintenance, increasing vehicle ownership and aging car population, and expansion of automotive aftermarket services, driving the growth of the market. According to the Automotive Aftermarket, The US aftermarket will reach nearly $535 billion in 2024. It includes over 535000 businesses serving 290 millon vehicles.

Browse the full report description of “Passenger Cars MRO Market Size, Share & Trends Analysis Report by Type (Cleaning, General Repair, and Overhaul), and by Application (Private Cars, Taxi, and Carsharing) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/passenger-cars-mro-market

The growth of the passenger cars (MRO market is driven by key applications such as the increasing demand for vehicle longevity and performance enhancement has led consumers to invest in regular maintenance services. Advancements in automotive technology have necessitated specialized repair services to ensure optimal functionality. Additionally, the rising trend of vehicle electrification has created a demand for MRO services tailored to electric and hybrid vehicles. Furthermore, stringent government emissions and safety standards regulations have prompted vehicle owners to prioritize compliance through proper maintenance.

Recent Developments

• In January 2024, ZF Aftermarket, one of the aftermarket providers, introduced over 770 new passenger car parts in North America in 2023, expanding product lines to cover an additional 158.2 million vehicles in operation. The products launched in the US and Canada include TRW brake pads, brake boosters, and master cylinders, SACHS Ride Control continuous damping control (CDC) shocks, ZF transmission parts and e-Fluids, and LEMFÖRDER window regulators and assemblies. The company is delivering a broad range of aftermarket products and services to support internal combustion, hybrid, fully electric, and semi-automated vehicles.

• In June 2023, Al-Futtaim Automotive launched the service and maintenance facility within its Auto Centers network. The new facility offers services such as new tires, wheel alignment, brakes, oil change, servicing, steering and suspension, mechanical repairs, air conditioning recharge and repairs, fault diagnosis, tinting, PPF application, wash and detailing, fitting of accessories, and choice of both OEM (Original Equipment Manufacturer) parts and aftermarket parts to suit each customer's preference.

Market Coverage

• The market number available for – 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

• Segment Covered- 

o By Type

o By Application

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape- 3M Co., Bridgestone Corp., Continental AG, Denso Corp., and Robert Bosch GmbH among others.

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Passenger Cars MRO Market Report Segment

By Type

• Cleaning
• General Repair
• Overhaul

By Application

• Private Cars
• Taxi 
• Carsharing

Global Passenger Cars MRO Market Report Segment by Region

North America

• United States

• Canada 

Europe

• UK

• Germany

• Italy

• Spain

• France

• Rest of Europe 

Asia-Pacific

• China

• India

• Japan

• South Korea

• Rest of Asia-Pacific 

Rest of the World

• Latin America 

• Middle East & Africa

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