Malaysia Automotive Aftermarket Service Market Size 2023 COVID-19 Impact Analysis by Business Opportunities, Demand, Key Players, Growth Drivers and Outlook Research Report 2032: SPER Market Research
According to SPER Market Research, the Malaysia Automotive Aftermarket Service Market is requiring different maintenance requirements, away from the current maintenance methods, is expected to cause the auto maintenance market to change over the next few years. Revenue for the Malaysian automotive aftermarket service market is expected to rise significantly more throughout the forecast period.
The majority of customers with out-of-warranty vehicles favour multi-brand auto care outlets. In Malaysia, the number of multi-brand automobile service centers is increasing as a result of lower cost multi-brand service centers and the availability of high-quality replacement parts from reputable vendors. The bulk of pre-warranty vehicles that visit OEM auto service centers in Malaysia are pre-warranty vehicles. Customers favour OEM service centers in Malaysia for additional reasons, including the high level of service, availability of authentic components, and increased dependability.
The coronavirus epidemic has a substantial influence on Malaysia’s automotive aftermarket sector because of the historically low level of new car sales. Prior to the COVID-19 pandemic, new car sales supported the OEM aftermarket sector. The current fall in new car sales has had a significant negative impact on the OEM aftermarket industry. As the COVID-19 pandemic spreads throughout the region, industry players are increasingly switching to online sales channels. Wiper blades, tires, filters, and brake pads make up the majority of the internet parts sales. As the COVID-19 vaccination becomes accessible, new models are introduced, and the first half of the year’s sales tax exemption is maintained, it is anticipated that car sales will increase in the future, driven by an improvement in the economy.
Malaysia Automotive Aftermarket Service Market Overview:
- Forecast CAGR (2022-2032): 3.34%
- Forecast Market Size (2032): XX billion
Impact of COVID-19 on the Malaysia Automotive Aftermarket Service Market:
Due to the historic decline in new vehicle sales, the coronavirus pandemic has a significant impact on Malaysia’s automotive aftermarket industry. Before the COVID-19 epidemic, sales of new cars sustained the OEM aftermarket industry. The OEM aftermarket business has been badly impacted by the present decline in new car sales. Industry players are quickly moving to internet sales channels as the COVID-19 pandemic spreads throughout the area. Pioneering in this market, NFM Auto Parts Malaysia offers OEM and aftermarket components to customers at reasonable costs. Consumers are increasingly purchasing parts online due to the convenience and low cost of doing so, as well as the availability of the entire product line of accessories, parts, and other items. Wiper blades, tires, filters, and brake pads make up the majority of the parts that are offered online. Future car sales are anticipated to rise as a result of an improving economy, the availability of the COVID-19 vaccination, the release of new models, and the extension of the sales tax exemption for the first half of the year.
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Malaysia Automotive Aftermarket Service Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
By Type of Workshop:
- Multi Brand
- Organized
- Unorganized
By Type of Vehicle:
- Hatchback
- MPV
- Sedan
By Age of Car:
- 5 – 10 Years
- 10 and Above Years
By Car Brand:
- Honda
- Perodua
- Proton
By Service Split:
- Body Care
- Maintenance
- Repair and Replacement
By Type of Spare Parts:
- Consumables and Miscellaneous
- Cooling Systems
- Drive Transmission and Steering
- Electricals and Electronic Components
- Rubber Components
By Region:
- Central
- East
- North
- South
Malaysia, the market for vehicle services was dominated by the central area. The Central area has a significant population and the capital city Kuala Lampur is located there, which accounts for the majority of automobile sales and the market’s contribution to car servicing.
Malaysia Automotive Aftermarket Service Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Auto Mobile Garage, Autohaus KL, Dtox, Honda, Mitsubishi, Nissan, Perodua, Prestige Cars, Proton, Top Speed, Topbest Car Grooming, Toyota.
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Malaysia Automotive Aftermarket Service Market Demand
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