Operators in the Auto Mechanics industry provide mechanical and electrical repair and maintenance for a variety of vehicles, including cars, trucks, vans and trailers.
Over the five years to 2021, the industry largely experienced healthy growth.The number of vehicles on the road expanded, along with the average age of the vehicle fleet.
As a result, demand from consumers and businesses rose.
Moreover, disposable income levels grew during much of the period, enabling more consumers to forego do-it-yourself repairs and enlist industry operators to complete the necessary repairs and maintenance for their vehicle.
However, over the five years to 2021, industry revenue is expected to decline an annualized 0.7% to $65.3 billion due to significant revenue declines experienced in 2020 amid the COVID-19 (coronavirus) pandemic.