The vehicle periodic maintenance market involves servicing vehicles on a periodic basis for inspection and maintenance. This includes regular servicing, repairing and replacement of parts to ensure the vehicle is functioning properly. Factors such as increasing vehicle fleet, mandatory servicing policies and focus on road safety have increased the need for periodic vehicle maintenance services worldwide. Regular maintenance helps detect issues at an early stage, improves fuel economy and extends the life of vehicles. It prevents unplanned repairs and breakdowns. Key services provided include engine tune-ups, replacement of engine and transmission fluids, brake inspection, replacement of tires, wheel alignment and multi-point inspections.

The vehicle periodic maintenance market is estimated to be valued at USD 930.12 Bn in 2024 and is expected to reach USD 1236.5 Bn by 2031, growing at a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031.

Key players operating in the vehicle periodic maintenance market are ADNOC, Nippon Express Co., Car Parts.com Inc, Belron International Ltd., and EUROPART Holding GmbH.

The growing vehicle fleet across regions due to rising disposable income and availability of financing options have increased the demand for Vehicle Periodic Maintenance Market services. Various countries have also made periodic vehicle servicing mandatory, especially for commercial vehicles, in order to ensure safety on roads.

Technological advancements in vehicle periodic maintenance include use of predictive maintenance, remote diagnostics, automotive blockchain and cloud computing. This helps in early detection of issues, planning maintenance schedule remotely and ensuring transparency & security.

Market Trends
One of the key trends in the vehicle periodic maintenance market is increasing focus on predictive maintenance. This involves usage of sensors and data analytics to monitor vehicle performance and predict potential issues in advance. This helps in scheduling maintenance effectively and avoid sudden breakdowns.
Another trend is growth of integrated automotive service centres. Various manufacturers and retailers have come together to set up integrated service centres that provide periodic maintenance and repair services under one roof. This offers convenience to customers.

Market Opportunities
Rise of electric vehicles will drive the need for specialised maintenance services for EV components such as high voltage batteries, electric motors and power electronics. This poses an opportunity for maintenance providers to offer tailored EV services.

Focus on connected cars and vehicle telematics allows transmitting vehicle health reports in real-time. This opens opportunities for remote diagnostics and predictive maintenance service providers to expand.

Impact of COVID-19 on Vehicle Periodic Maintenance Market Growth
The COVID-19 pandemic brought unprecedented challenges for the vehicle periodic maintenance market. During the early stages of the pandemic in 2020, lockdowns and mobility restrictions drastically reduced the demand for vehicle maintenance services. With people confined to their homes and vehicle usage limited only for essential services, the number of vehicles requiring periodic servicing declined sharply. This negatively impacted the revenues of vehicle service centers and workshops across major regions. However, as lockdowns eased in late 2020, vehicle usage and the need for maintenance started increasing gradually.

Europe currently accounts for the largest share of the global vehicle periodic maintenance market in terms of value. Countries like Germany, UK, France, Italy have large vehicle parcs and established servicing infrastructure. Proximity to major automotive OEMs also contributes to market concentration in Europe. However, Asia Pacific is identified as the fastest growing regional market. Rapid motorization trends, rising per capita incomes and expansion of auto-ancillary sectors are driving the APAC maintenance industry, led by China and India. Other high potential markets include North America, Latin America and Middle East countries.

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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)