What is the development prospect of auto repair industry? Analyze it in detail.

Main enterprises in the industry: Jacky Science and Technology (02488. HK), Daotong Technology (688208), South China Instruments (3004 17), Delian Group (002666), Oriental Fashion (603377), etc.

The core data of this paper: the number of cars in China, the average age of cars in China and the average annual maintenance cost of cars in China.

General situation of industry

1, definition

According to the national economic industry classification of the National Bureau of Statistics (GB/T

4754-20 17), automobile maintenance refers to the professional maintenance services of automobile repair shops and roadside shops, including providing services such as refueling, inflating, waxing, polishing, painting, cleaning, replacing spare parts and selling spare parts. , excluding disassembly, modification and overhaul activities when the car returns to the factory.

Generally speaking, automobile maintenance is the general name of automobile maintenance and repair, which refers to finding out the cause of the fault through technical means and taking certain measures to eliminate the fault, so as to restore it to a certain performance and safety standard. According to the Terminology of Automobile Maintenance (GB∕T) issued by the Ministry of Transport of the People's Republic of China.

5624-20 19), automobile maintenance mainly refers to automobile maintenance and repair. Automobile maintenance mainly includes automobile maintenance, automobile repair, automobile maintenance inspection, automobile maintenance information and automobile maintenance accessories.

2. Industrial chain analysis of automobile aftermarket.

From the perspective of the whole automobile industry chain, automobile maintenance is a part of the automobile aftermarket, including fault maintenance and daily maintenance.

The upstream of automobile maintenance industry mainly includes two categories, one is automobile maintenance equipment and tools industry, and the other is automobile spare parts suppliers. Auto parts suppliers can be divided into two categories. One is the original parts supplier (OEM), whose bargaining power is in a strong position, but the government is trying to break the dilemma through anti-monopoly measures; The other is a non-original parts supplier, whose bargaining power is relatively weak, because the market is basically in a state of oversupply, but the capital market is integrating the auto parts supply system, and there will be several unicorn enterprises in the industry in the future.

The downstream of automobile maintenance enterprises is the end customers. At present, China's automobile maintenance enterprises are in a state of saturation, and the car owners have a lot of choices, and the downstream bargaining power of automobile maintenance enterprises is strong. However, due to the asymmetry of automobile technical ability, maintenance enterprises have absolute right to speak on vehicle technical issues.

Industry development process: late growth period.

China's maintenance market has a short history, but after nearly 20 years of rapid development, it has become one of the largest after-sales markets in the world, and has also experienced the following development stages in this process.

Industry policy background: The number of policies is relatively small.

As a part of the automobile aftermarket, the automobile maintenance market is relatively small, and its industry position is only related to the automobile industry. Therefore, the number of policies formulated by the state for the automobile maintenance industry is relatively small.

Current situation of industry development

1, the number of cars in China is increasing year by year.

According to the data released by China Automobile Association and the Ministry of Public Security, in recent years, with the rapid development of China's automobile industry, the number of automobile scrapping and dismantling is also increasing. At present, the scrap car recycling and dismantling industry has a broad development space in China. In 20021year, the number of cars in China was 302 million, up by 7.47% year-on-year.

2. General maintenance and quick repair shops have become the first choice for car owners after the accident.

According to "202 1" published by China Automobile Finance Laboratory in 21Century Business Herald.

According to the data of China Automobile Aftermarket Consumption Survey, after the warranty period, compared with 4S stores, general maintenance and quick repair shops have become the first choice for more car owners.

3. The average annual cost of car maintenance has declined to some extent.

According to the data of F6 Automotive Technology Big Data Research Institute, the average annual cost of routine automobile maintenance in China in 20021year was 3,337 yuan, which was higher than that in 2020. However, from the perspective of lengthening the time line, the average annual cost of routine maintenance of automobiles in China has declined to some extent.

4. The investment enthusiasm of automobile maintenance industry is declining.

According to the data of IT Orange, the investment boom of China automobile maintenance market has been cooling down in recent years. During the period of 20 16-2022, the year with the highest investment amount was 20 17, and there were 58 investment events in a single year. The peak value of investment in automobile maintenance industry appeared in 20 19, and the total investment was 13 1.4 1 100 million yuan.

Industry competition pattern

1. Regional competition: Guangdong Province has the largest number of enterprises.

Judging from the regional distribution of enterprises, according to the survey data of enterprises, as of June 2022, the number of automobile maintenance enterprises owned by Guangdong Province ranks first in the country. Followed by Shandong, Henan, Jiangsu, Hebei and Sichuan provinces.

2. Enterprise competition: Linglong Tire ranks first.

According to "202 1 Top 100 Chain Stores in China" issued by China Chain Store & Franchise Association, there were 13 enterprises in the field of automobile maintenance service in China in 20021year. Among them, Linglong Tire ranked first in 202 1 with an operating income of185.8 billion yuan.

Industry development prospect and trend forecast

1, development trend forecast

Driven by the "new four modernizations" of the automobile industry, many new forms of market cooperation will be born in the automobile aftermarket. The "new four modernizations" of automobile industry are electrification, intelligence, networking and enjoyment.

Electrification makes vehicles more electrified and the future service demand more transparent. Maintenance service providers need to respond to the technical requirements of electrification in advance. Intelligence and networking promote the linkage of automobile life cycle data, including driving data, diagnosis data and maintenance data. The efficient application of data will give birth to new service areas. * * * Enjoy promoting consumers to enjoy travel * * *. There will be more B-end customers in the future, and the market demand has great growth potential, creating new opportunities for third-party maintenance service providers.

2. Market size forecast

According to the data jointly released by F6 Automotive Technology Big Data Research Institute and Tongji University Automotive Market and Behavior Data Research Institute, in 2023, China will become the largest car ownership market in the world, and the scale of automobile aftermarket maintenance service will exceed 1 trillion yuan, and it will reach1.1.90 billion yuan in 2025. According to this trend, it is predicted that by 2030, the annual output value of China automobile aftermarket maintenance service will reach 1.77 trillion yuan, with huge market growth potential. According to McKinsey's research, due to the transformation and upgrading of travel services such as car enjoyment and online car rental, the growth rate of global automobile production and sales will slow down in the future. Subject to the influence of automobile production and sales scale on automobile ownership, it is predicted that the market scale growth rate of automobile maintenance industry will also slow down in the future, and it will maintain an annual growth rate of about 5% after 2030. It is estimated that the market scale will reach 226 million yuan in 2035.

For more research and analysis of this industry, please refer to Foresight Industry Research Institute's Market Operation and Investment Forecast and Analysis Report of China Automobile Maintenance Industry.