The Malaysia after-sales service market recorded a positive CAGR of ~3% during the period 2015-2020. However, the market witnessed a decline in the demand for aftermarket services during the 2nd quarter of 2020 owing to the COVID-19 situation. During that time, the Malaysian market witnessed a decline in new car & used car sales in 2020 which also impacted the automotive aftermarket service sector.
But the interesting part is Used car sales in Malaysia were steady despite the pandemic, as it has deterred people from using public transport leading to higher demand for post-warranty service from multi-brand workshops.
Here, we have shed light on the government plans that have been helping the Malaysian automotive aftermarket service industry.
1. Surging Demand for Used Cars in Malaysia Leading to Growth in Service Requirement industry in Malaysia
Request a Call with Expert to know more about the business model
1.2. Moreover, Growing Car Parc coupled with the Penetration of Companies in the Automotive Aftermarket are also creating the demand for aftermarket services in the country
2. However, COVID-19 impacted the sales of new cars which also affected the growth of the Automotive Aftermarket Service Industry in Malaysia
3. But, National Automotive Policy (NAP) & National Roadmap for Automotive Aftermarket (NRAA) are focusing to Strengthen the Automotive Industry in Malaysia and will enable to grow positively in the future
Some of the Intelligence Curated by Ken Research in Automotive Aftermarket Service Space:
- Egypt Automotive Aftermarket Service Industry Outlook to 2027: Driven by burgeoning population, vehicle sales growth and government moves to combat auto emissions”
- UAE Automotive Aftermarket Service Industry Outlook to 2026: Driven by increasing number of startups and consumers shifting preference towards online and organized sector
- Indonesia Automotive Aftermarket Service Market Outlook to 2026: Influx of new players and car variants from abroad are contributing to the growth of automotive aftermarket service industry in Indonesia
- KSA EV Charging Equipment Market Outlook to 2027F Driven by Government Initiatives, Demand for Eco-friendly Transportation and Entry of New Brands in the market
To Know more about this Whitepaper, Visit this link:-
No comments:
Post a Comment