“Amplified demand from Post warranty car users has driven the growth of Multi Brand Car Service Market in India.”
Hatchback Car Segment Contributing Majorly in the Multi Brand Car Service Industry: The hatchback segment held the largest market share in the India automotive Industry in FY’20. The market share of hatchback is attributed to the increasing demand for small passenger vehicles by middle-class families. Hatchbacks have been dominating the automotive market since a long time in India, which has also contributed in large number of hatchback cars present on road. Hatchback contributed to ~51% in the multi brand car service market revenue in FY’20.
Multi-Brand Car Servicing emerging as the ideal solution for Car Owners in India: Multi-brands car service centers provide services for a myriad of car brands. These multi brand service centers provide warranty on car services along with genuine OEM and OES flexible spare parts, 100% transparency and accountability with upfront pricing. All these services are gaining the trust of the consumers and attracting large number of car owners for servicing. Insurance companies also prefer multi-brand centers as they provide OEM-quality repairs at a cost which is way less than authorized dealerships.
Favorable market for Multi brand car service Centers: The Indian market is in a very favorable condition for the multi-brand car service centers. The government is introducing programs and initiatives that are encouraging automobile makers to set up a wider base of operations in the country. These developments are leading to the growth of multi brand service centers in India. Higher confidence in these multi brands car service centers and growing number of car PARC is leading to the growth of the Multi-brand car Service Market.
The report titled “India Multi-Brand Car Service Market Outlook to 2025: Door Step Car Servicing, Real Time Service Status to Drive the Penetration of Multi Brand Car Service in India” by Ken Research suggests that multi brand market is further expected to grow in the near future as the companies would provide value added services such as providing real time service status and doorstep service facilities. The market is expected to register a positive CAGR of 11.9% in terms of revenue during the forecast period of FY’20-FY’25.
Key Segments Covered in India Multi Brand Car Service Market:-
By Type of Vehicle
By Vehicle Age
Periodic Maintenance Service
Mechanical and Electrical Repair
Car Detailing and Car Care
India Spare Parts After Market Segmentation:-
By Type of Spare Parts
Drive transmission and Steering
Electricals and Electronic Components
Suspension and Braking
Consumables and Miscellaneous
Key Target Audience:-
OEM Car Service companies
Multi brand Car Service companies
Automotive Spare Parts Companies
Time Period Captured in the Report:-
Historical Period: FY’15-FY’20
Forecast Period: FY’20-FY’25
Multibrand Car Dealers/Service Providers:-
Mahindra First Choice Service
3M Car Care
Bosch Car Service
Spare Parts Aggregators/ Online Marketplaces:-
For More Information on the research report, refer to below link:-
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Ankur Gupta, Head Marketing & Communications