DUBLIN--(BUSINESS WIRE)--The "Global Repair and Maintenance Market 2020-2030: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
The global repair and maintenance market is expected to grow from $1,267.8 billion in 2019 to $1,270.4 billion in 2020 at a compound annual growth rate (CAGR) of 0.3%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $1,548.5 billion in 2023.
Asia-Pacific was the largest region in the global repair and maintenance market, accounting for 36% of the market in 2019. Western Europe was the second largest region accounting for 29% of the global repair and maintenance market. Africa was the smallest region in the global repair and maintenance market.
Many personal services employers in Europe, especially in the UK are increasingly offering zero-hours contracts to deal with uncertain consumer demand. Zer0-hours contracts also known as casual contracts enables companies to employ staff without giving work guarantee. Employees are given little notice before shifts, they are called to work whenever there is piece work or contract work, they are generally not offered leaves and other employee benefits.
These contracts are increasingly becoming popular owing to flexibility it offers to both employers and employees. For instance, according to the Office for National Statistics, UK, there was a 14% increase in zero-hours contracts from 2015 and 30% increase in zero hours contracts from 2016, a significant proportion of these employees are expected to be from the personal services industry which often employ free lancers on a non-contractual basis.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider repair and maintenance market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the Covid 19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of Covid 19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The repair and maintenance market section of the report gives context. It compares the repair and maintenance market with other segments of the services market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, repair and maintenance indicators comparison.
- Apple Inc.
- Arnold Clark Automobiles Limited
- Asbury Automotive Group
- Encompass Supply Chain Solutions Inc.
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