Any industry is governed by its market trends, consumers’ spending capabilities and the kind of profits its professionals make by providing services. The automotive repair industry is no different.
Market trends and industry forecasts influence budding professionals to take up technical courses mastering the skills in automotive repair. If you are one such automotive enthusiast, know that this industry holds tremendous potential. With a promising annual growth rate of 1.4% and a market valuation of about $69 billion, you can undoubtedly expect an upward market trajectory in your automotive repair profession. Here are some trends and signs in the automotive market that support this growth.
As the income of car owners increases, so does their disposable income at hand. In turn, this allows them to spend higher amounts on car maintenance, upkeep, and even modification. Those consumers who would try do-it-yourself automotive repair are now willing to pay to have the job done for them by automotive repair experts. Leveraging this trend, an automotive repair technician can provide services at affordable costs that can lead to capturing the market effectively.
There is a demand for new talent and automotive repair technicians who understand the mechanics of hybrid cars. The nuances of automotive repair and maintenance in hybrid and electric cars are different from conventional fuel cars. This gives immense scope for growth for the industry and leaves a large part of the industry open to new experts and professionals who can train in automotive repair institutes that offer these advanced automotive repair training.
With newer manufacturing technologies, fuel efficiency, and modern designs, the lifespan of most automotive has increased significantly. With this increased lifespan, there is a higher demand for repair and maintenance than newer cars, where repairs are minimal. Leveraging the longer lifespan of automotives to boost the repairs market is certainly on the cards.
There has been an increased behavioral change of automotive users of simply using cars and not owning them. Take the case of various car rentals springing up, newer taxi hire apps, and car leases like never before. This trend increases automotive repairs in two ways. Firstly, there are more cars to be serviced as more such businesses spring up. Secondly, compared to owned vehicles, hire cars will have more repair requirements due to the various drivers and users operating on them, causing increased wear and tear.
There is an insistence on auto emissions and fuel efficiencies like never before to combat environmental hazards like pollution and wastage. These legal requirements increase the demand for repairs and maintenance in constantly checking and servicing automotives to ensure they comply with environmental standards.
Keeping these trends in mind, it is certain that a professional automotive repair and maintenance course in good automotive technician schools will be a tremendous career boost. Automotive repair novices or enthusiasts will benefit largely from these programs.