The auto repair industry is an important part of the economy and is constantly changing. As technology advances, so do the needs of the auto repair industry. Knowing the current trends and statistics in the auto repair industry can help you stay ahead of the competition and make informed decisions.
In this blog post, we will explore the latest auto repair industry statistics and trends to help you understand the current state of the industry. We will also discuss the implications of these trends and how they can affect your business.
Auto Repair Industry: The Most Important Statistics
The average full-time employee in the Automotive repair & maintenance Industry Group works 44.4 hours per week and earns an average annual salary of $46,783, while part-time employees in the same industry work 22.2 hours and earn an average annual salary of $18,302.
There are over 176,022 auto mechanics currently employed in the United States, with 3.6% of them being women and 96.4% being men.
Auto Repair Industry Statistics Overview
The auto repair industry is valued at $880 billion annually, with crash parts service making up 31% of all services offered and an annual gross income of over $250,000 34% of the time.
The majority of aftermarket auto repair is performed by independent auto repair shops, while dealerships make up the remaining 25%.
White Auto Mechanics make up the majority of the industry, and Western Europe is the second largest region in the global automotive repair and maintenance market.
This shows the current market share of independent auto repair shops, the most common ethnicity of Auto Mechanics, as well as the size of the global automotive repair and maintenance market.
The average full-time employee in the Automotive repair & maintenance Industry Group works 44.4 hours per week and earns an average annual salary of $46,783, while part-time employees in the same industry work 22.2 hours and earn an average annual salary of $18,302.
The global automotive engineering services market is expected to grow at a CAGR of 8.1%, with a revenue of $243.9 billion by 2028.
Furthermore, automotive service technicians and mechanics are projected to have little to no change in employment from 2021 to 2031, with an average of 73,300 job openings projected annually and a median annual wage of $46,880.
Male employees in the Automotive repair & maintenance Industry Group earn more than Female employees and other races and ethnicities, with 89.5% of workers in the Industry Group being Male.
There are over 176,022 auto mechanics currently employed in the United States, with 3.6% of them being women and 96.4% being men.
White auto mechanics make up the majority (60.5%), followed by Hispanic or Latino (19.6%), Black or African American (9.9%) and Asian (5.0%).
The light duty auto parts industry is projected to reach $374 billion and the entire automotive aftermarket/auto care industry is projected to reach $497 billion in 2023.
This shows the growth potential of the industry and the demand for auto parts and services, which can be used to inform business decisions and investments in the auto repair industry.
The US aftermarket industry is estimated to be nearly $500 billion in 2023, with $370 billion for automobiles and light trucks and $123 billion for medium- and heavy-duty.
In 2004 there were 25,000 motor vehicle repair workshops in the UK, which declined by 3.5 thousand by 2014. However, it is predicted to remain relatively stable until 2020.
The auto repair and maintenance industry in the U.S. saw a two percent increase in the number of establishments between 2010 and 2021, with over 17,700 new businesses added.
This growth is indicative of the increasing demand for auto repair services, which is likely due to the increasing number of cars on the road and the aging of existing vehicles.
Conclusion
In conclusion, the auto repair industry is a major contributor to the economy, and it is expected to continue to grow in the coming years. The industry is highly competitive, and it is important for auto repair shops to stay up-to-date on the latest industry trends and statistics in order to remain competitive.
By understanding the current trends and statistics, auto repair shops can better position themselves to take advantage of the opportunities that the industry presents.
References
1 – https://brandongaille.com/29-auto-repair-industry-statistics-and-trends/
2 – https://webinarcare.com/best-auto-repair-software/auto-repair-statistics/
3 – https://datausa.io/profile/naics/automotive-repair-maintenance?monthly-employment=latestEmploymentGrowthYoY&bls-start-year=2010
4 – https://blog.gitnux.com/auto-industry-job-statistics/
5 – https://datausa.io/profile/naics/automotive-repair-maintenance
6 – https://www.zippia.com/auto-mechanic-jobs/demographics/
7 – https://hedgescompany.com/blog/tag/aftermarket-industry-statistics/
8 – https://automotiveaftermarket.org/aftermarket-industry-trends/automotive-aftermarket-size/
9 – https://www.statista.com/statistics/547017/uk-number-of-vehicle-repair-workshops/
10 – https://www.statista.com/statistics/436416/number-of-auto-repair-and-maintenance-shops-in-us/
