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 pivotal factors such as an expansion of aftermarket services and products, e-commerce growth in auto parts and services, rising consumer awareness of vehicle safety and reliability, growing demand for enhanced vehicle performance, and a shift toward electric and hybrid vehicles. According to the Australasian Fleet Management Association (AfMA), in July 2024, Global electric vehicle (EV) sales reached 14.1 million units, with battery electric vehicles (BEVs) accounting for 70.0% and plug-in hybrid electric vehicles (PHEVs) for 30.0%.
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Consumers are increasingly opting for high-quality aftermarket parts, which offer cost-effective alternatives to original equipment manufacturer (OEM) products. This shift is further fueled by advancements in technology, resulting in enhanced performance and longevity of aftermarket components. Additionally, the growing awareness of vehicle maintenance benefits among consumers contributes to the demand for comprehensive MRO solutions. Furthermore, the rise of e-commerce platforms has facilitated easier access to aftermarket products, expanding market reach.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Passenger Cars MRO Market by Type
- Cleaning
- General Repair
- Overhaul
Global Passenger Cars MRO Market by Application
- Private Cars
- Taxi
- Carsharing
Regional Analysis
- 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 and Africa
Company Profiles
- Advance Auto Parts, Inc.
- Aisin Seiki Co., Ltd.
- BorgWarner Inc.
- Brembo S.p.A.
- Castrol Ltd. (BP Plc)
- ExxonMobil Corp.
- Hankook Tire & Technology Co., Ltd.
- Jiffy Lube International, Inc.
- Magna International Inc.
- Mann+Hummel GmbH
- NGK Spark Plug Co., Ltd.
- O’Reilly Automotive, Inc.
- OSRAM GmbH
- Schaeffler AG
- Shell Global Solutions International B.V. (Shell Plc)
- Snap-on Inc.
- Tenneco Inc.
- Valeo SA
- ZF Friedrichshafen AG
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global passenger cars MRO market. Based on the availability of data, information related to new products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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