The total size of China‘s automotive services market is $1.2 trillion in 2017 and $1.7 trillion in 2021, with a CAGR of 8.9 percent, refers Autozi Internet Technology. 

By 2026, China’s automotive service market size is estimated to be $2.3 trillion with a compound annual rate of 6.6 percent. 

The automotive sales market increased from US$0.6 billion to US$0.7 billion at a CAGR of 3.4 percent from 2017 to 2021. 

Autozi Internet Technology defines itself as one of the leading and fast-growing lifecycle automotive service providers in China.

Considering the explosive growth of new energy vehicle production and sales, the market is expected to grow rapidly with a compound annual growth rate of 3.9%, by 2026, and is projected at $0.8 billion. 

Automotive services

The automotive aftermarket grew at a compound annual growth rate of 13.9% and reached $1.0 trillion in 2021. 

As the number of vehicles in operation («auto fleet») and the age of automobiles continue to increase, by 2026, the automotive aftermarket is predicted to reach $1.5 trillion, with a compound annual rate of 8.4 percent.

The automotive services market includes the automotive sales market and the automotive aftermarket. 

Within it, the automotive sales market specifically comprises the automotive sales and leasing market. 

The automotive aftermarket refers mainly to the automotive maintenance market, car washing and detailing, car insurance, accessories requiring installation, used car sales, gasoline supply and battery charging, among others.

Upstream players mainly comprise manufacturers of automobiles, auto parts and accessories for automobiles, and other materials related to automotive services. 

In addition, insurance companies, banks and other financial firms are part of this industry value chain, as they offer insurance and loan products to car buyers.

Midstream automotive service providers mainly include To-B players and To-b players. 

To-b players are primarily authorized dealers of automotive brands and other types of players, such as independent automotive service stores that cater directly to car owners.