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
Related Reports
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Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
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