Vietnam Automotive Aftermarket Service Industry size was estimated to hit around USD XX billion by 2030 and is poised to grow at a compound annual growth rate (CAGR) of 8.25% from 2022 to 2030.
Vietnam Automotive Aftermarket Service Market: Breakup by Region, 2022 & 203
Source: Primary Research and Secondary Research Analysis
Automotive aftermarket service refers to a wide range of products and services that are offered to vehicle owners after their purchase from the original equipment manufacturer (OEM). These services can include repairs, maintenance, replacement parts, and customization, and they are provided by a variety of aftermarket service providers, including independent repair shops, franchised dealerships, and specialized service centres.
The automotive aftermarket service industry is a crucial component of the overall automotive industry, as it offers vehicle owners a diverse range of products and services to choose from. Common examples of aftermarket services include oil changes, tire replacements, brake repairs, and engine tune-ups. Additionally, many aftermarket service providers offer parts and services that can enhance a vehicle’s performance or appearance, such as custom wheels, performance exhaust systems, or paint and bodywork.
By maintaining the safety and reliability of vehicles and providing vehicle owners with options for customization and personalization, the automotive aftermarket service industry plays an essential role in meeting the diverse needs of vehicle owners.
In Vietnam, the automotive aftermarket service industry provides a diverse range of products and services, including repairs, maintenance, replacement parts, and customization. A variety of service providers, such as independent repair shops, franchised dealerships, and specialized service centers, offer these services.
An important factor driving the growth of the automotive aftermarket service industry in Vietnam is the increasing number of vehicles on the road. According to data from the Vietnam Automobile Manufacturers’ Association, vehicle sales in Vietnam have grown significantly, from around 220,000 units in 2015 to over 400,000 units in 2019. This increase in vehicle ownership has led to a corresponding increase in the demand for aftermarket services.
Vietnam Automotive Aftermarket Service Industry
Furthermore, the growing complexity of modern vehicles has also contributed to the expansion of the automotive aftermarket service industry in Vietnam. As vehicles become more technologically advanced, repairs and maintenance require specialized skills and equipment. This has resulted in the emergence of specialized service centers that offer high-quality services for complex vehicles.
Overall, the Vietnamese automotive aftermarket service industry plays a crucial role in ensuring the safety and reliability of vehicles, while also providing vehicle owners with opportunities for customization and personalization. The industry is expected to continue to grow in the future, driven by the increasing number of vehicles on the road and the need for top-quality aftermarket services.
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