Malaysia Automotive Aftermarket Service Market Outlook to 2025: Surging Used Car Sales contributing to the Growth of Automotive Aftermarket Service Industry in Malaysia - Ken Research
Malaysia Automotive Aftermarket Service Market is expected to reach about USD 6.8 Bn in Revenue by 2025.
Gurugram, India, July 29, 2021 (GLOBE NEWSWIRE) --
Automotive slowdown & the COVID-19 pandemic brought a sustained downward trend in new passenger car sales in 2021 in Malaysia.
The OEM/Authorized car service market is anticipated to grow with a CAGR of 11.7% during the forecast period 2020-2025.
Surging Vehicle Parc in Malaysia: Malaysian automotive industry in witnessing a growth in the number of vehicle parc, which is leading to higher demand for the multi brands and OEM car service companies in Malaysia. ~65% of the vehicle parc in Malaysia in 2020 comprised of post warranty cars that generally visit multi brand car service centers. Whereas, the pre warranty cars in the country prefer visiting the OEM car service centers. Multi brand service centers cost ~40% less as compared to the authorized car service center which is the major reason for consumer to shift to the multi brand service center during the post warranty period. The car parc is anticipated to witness a CAGR of 1.1% during the forecast period 2020-2025.
Technological Advancement in Car Service Industry in Malaysia: Car servicing companies in Malaysia have started to become technologically advanced, by adopting technologies such as live end-to-end updates, service tracking, round-the-clock grievance redressal, online booking and others. Technological upgradation by the car servicing companies in Malaysia is leading to an increased demand for car servicing from customers. The ease of booking a car service and tracking the service status has lead consumers visit the service center for regular or minor car maintenance as well.
Strong Used Car Sales growth: Malaysia is witnessing a growth in the used car sales, which is contributing to the rising average age of cars in the country, therefore an impetus for car service market. Lack of car components such as electronic chips in Malaysia in 2020 had raised issues such as production of new cars and delay in delivery in the short to medium term, leading to increased demand for used cars. Shifting focus of consumers from purchasing new vehicles towards maintaining old ones is leading to a surge in the on road used cars which is leading to greater demand for multi brand car servicing. The Malaysian used cars market is anticipated to witness a CAGR of 2.1% in terms of number of used cars sold during the forecast period 2020-2025.
The report titled "Malaysia Automotive Aftermarket Service Market Outlook to 202: Surging Used Car Sales contributing to the Growth of Automotive Aftermarket Service Industry in Malaysia" by Ken Research suggested that the automotive aftermarket service market is further expected to grow in the near future with the surging used car sales and entry of new players in the market. The market is expected to register a positive CAGR of 3.1% in terms of revenue during the forecast period of 2020-2025.
Key Segments Covered in Malaysia Automotive Aftermarket Service Market
By Type of Workshop
Multi Brand
OEM/Authorized
By Type of Multi Brand
Organized
Unorganized
By Type of Vehicle
Sedan
Hatchback
SUV
MPV
By Age of Car
0-5 Years
5-10 Years
10 and Above years
By Region
Central
East
South
North
By Car Brand
Perodua
Proton
Honda
Toyota
Others
By Booking Mode
Online
Offline
By Service Split
Maintenance
Repair and Replacement
Body Care
Malaysia Spare Parts After Market Segmentation
By Type of Spare Parts
Electricals and Electronic Components
Suspension and Braking
Consumables and Miscellaneous
Cooling Systems
Rubber Components
Drive transmission and Steering
Others
Key Target Audience
Automotive companies
OEM Car Service companies
Multi brand Car Service companies
Automotive Spare Parts Companies
Time Period Captured in the Report:
Historical Period: 2015-2020
Forecast Period: 2020-2025
OEM Car Dealers/Service Providers:
Perodua
Proton
Honda
Toyota
Nissan
Mitsubishi
Multi Brand Car Dealers/Service Providers:
Dtox
Prestige Cars
Topbest Car Grooming
Autohaus KL
Top Speed
Auto Mobile Garage
Key Topics Covered in the Report
Malaysia Automotive Aftermarket Service Industry Overview
Ecosystem of Entities in Car Servicing in Malaysia
Trends and Development in Malaysia Automotive After Market Service Industry
Issues and Challenges in Malaysia Automotive After Market Service Industry
Porters Five Forces Analysis: Automotive Aftermarket Service in Malaysia
Government Regulation in Malaysia Automotive After Market Service Industry
Market Size of Malaysia After Market Service Industry
Malaysia Automotive Aftermarket Service Industry Segmentation
Competition in Malaysia OEM Aftermarket Industry
Strength and Weakness of Major Players in Malaysia OEM Automotive Aftermarket Industry
Competition in Malaysia Multi Brand Aftermarket Industry
Pricing Comparison of Major OEM Car Service Companies
Pricing Comparison of Major Multi Brand Car Service Companies
Operating Model of Organized and Unorganized Workshops
Operating Model of OEM Workshops
Malaysia Spare Parts Aftermarket Industry Overview
Sourcing Spare Parts for Automobile Service Centers (OEM/Authorized Service Centers & Multi-Brand Service Centers)
Malaysia Automotive Aftermarket Car Service Market Future Market Size
Future Outlook and Projections for Malaysia Automotive Service Market
Case Study: Autohaus KL
Analyst Recommendation
Malaysia Multibrand car service market
Malaysia car service market
Malaysia after sales service market
Malaysia OEM after sales service market
Local Car service in Malaysia
Hatchback car repair in Malaysia
Sedan car service in Malaysia
SUV car service in Malaysia
Luxury car repair in Malaysia
Electric car service in Malaysia
Periodic Car Maintenance Service Malaysia
Mechanical and Electrical Car Repair Malaysia
Collision Repair in Malaysia
Car Detailing and Car Care in Malaysia
Car Service in South Malaysia
Car Spare Parts Market Malaysia
Cars Spare Parts Aftermarket Malaysia
Car Spare Parts in Kuala Lumpur
Car Spare parts in Putrajaya
Car spare parts in Selangor
Car spare parts in Johor
Dtox car service
Prestige Cars service
Topbest Car Grooming car service
Autohaus KL car service
Top Speed car service
Auto Mobile Garage car service
Opportunity in Organized car workshop in Malaysia
Operating Model of OEM car workshops in Malaysia
OEM Car service price in Malaysia
Multi brand car service price in Malaysia
For More Information, Refer to this link
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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
CONTACT: Contact Us: Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249