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What main factors contributing towards Authorized Car Service Center Market growth?

Author : Ronak Bora | Published Date : 2019-03-18 

The growth prospect of authorized car service center market seems to be more pronounced in recent times, given the increasing passenger vehicle density on road and their subsequent maintenance requirement. According to estimates, nearly 945 million passenger vehicles and 330 million commercial cars were operational globally in 2015. This, by extension also outline the humongous revenue generated by the car service business (maintenance and repair) in recent years. Since licensed automobile workshops provide improved service support at competitive rates with enhanced customer experience, authorized car service center industry is furthermore gaining a substantial traction in the automotive fraternity. Testament of the fact is the 200-billion-dollar valuation pegged by the market in 2017. Incidentally, this has also prompted automotive market players to expand their service center networks, in a bid to leverage the potential of authorized car service center market.

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Maruti Suzuki, India’s biggest car manufacturer, has recently made its way to the headlines with its plan of establishing 5000 service centers by 2020. As per the reports, the company is planning to expand its service networks by almost 56% by 2020. For the records, out of these 5000 service centers, 3000 workshops would be operating under the dealership.

For the uninitiated, the carmaker presently boasts of 2000 dealerships spread across 1667 cities in addition to 3200 workshops in India. Maruti Suzuki’s portfolio also include 250 additional premium dealerships dubbed as Nexa outlets. If reports are to be relied on, in the coming three years, the company is planning to open 1800 service centers and 1000 sales network, which as per estimates, is deemed to be more than the present combined sales and service networks of three leading automakers in India- Fiat, Nissan, and Renault. Maruti Suzuki’s initiative not just clearly depicts the fierce competitive scenario in authorized car service center industry, but also the increasing ratio of multi brand service centers in tier-II and tier III cities.

The competitive spectrum of authorized car service center market comprises some renowned brands including Carnation Auto, Castrol, 3M, Mobil1, MyTVS, and Carz Care. Strategic collaborations and joint ventures are two of the tried-and tested tactics adopted by these players to sustain in the competitive landscape. Nissan’s strategic tie-up with India’s largest car service networks, MyTVS in 2016 is an apt precedence validating the same. Through this venture Nissan opened eight NASP (Nissan Authorized Service Points) in Tamil Nadu to improve car service access for Nissan and Datsun customers. The deal, in all likelihood, strengthened Nissan’s stance in India authorized car service center industry.  In fact, with India as a major nerve center, APAC authorized car service center market is forecast to witness 4% CAGR over 2018-2024.

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It is prudent to mention that a strict regulatory framework toward carbon emission abatement across emerging economies has left an inexorable impact on authorized car service center market outlook. Recently, the Maharashtra Pollution Control Board has issued a notice against a dealership and car service center for violating the environmental norms. Following a complaint with regards to unscientific disposal of waste water, the board had officially conducted an on-spot inspection and found that the ETP (effluent treatment plant) of the workshop was not operational. These kind of pitfalls in unlicensed service centers have in a way provided a lucrative growth avenue to authorized car service center market.  

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Presence of advanced machineries in tandem with skilled technicians has further stimulated the market outlook. Primarily grounding on three major rationales- appropriate business model, cost-effective services, and decent attitude of the service advisors, authorized car service center market is slated to witness a slew of opportunities in the coming years. In terms of commercialization, the fraternity is forecast to surpass USD 247 billion by 2024.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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