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2024 U.S. Industry Statistics & Market Forecast - Automotive Oil Change and Lubrication Shops
Market Size & Industry Statistics
The total U.S. industry market size for Automotive Oil Change and Lubrication Shops:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Automotive Oil Change & Lubrication Shops industry has been experiencing a range of significant trends and changes in recent years. These trends, which are largely driven by technological advancements, shifts in consumer preferences, and changes in regulatory requirements, include the following:1. Increasing popularity of synthetic oils: As consumers become more aware of the benefits of synthetic oils, demand for these products is on the rise. Synthetic oils offer longer-lasting performance and better engine protection than traditional motor oils.
2. Growth of electric and hybrid vehicles: The increasing prevalence of electric and hybrid vehicles has led to a shift in the types of lubrication services that are required. These vehicles require specialized lubricants and maintenance techniques.
3. Emphasis on environmental sustainability: With growing concerns about the environmental impact of the automotive industry, many oil change and lubrication shops are placing a greater emphasis on sustainable practices. This includes the use of eco-friendly products and the adoption of energy-efficient technologies.
4. Expansion of mobile oil change services: Many consumers are seeking out more convenient service options, leading to the growth of mobile oil change services. These providers offer on-site oil changes and other maintenance services, eliminating the need for consumers to visit a physical shop.
5. Increasing focus on preventive maintenance: With the rising complexity of modern vehicles, preventive maintenance has become increasingly important to ensure optimal vehicle performance and longevity. Many oil change and lubrication shops are offering a wide range of preventive maintenance services to meet this demand.
Product & Services Breakdown
Research products and services in the Automotive Oil Change and Lubrication Shops industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Washing And Cleaning Services For Cars And Light Trucks |
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Scheduled, Factory-Recommended, And Preventative Maintenance Services For Cars And Light Trucks |
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Oil Change Services For Cars And Light Trucks |
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Other Scheduled, Factory-Recommended, And Preventative Maintenance Services For Cars And Light Trucks |
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Powertrain, Engine, And Transmission Repair Services For Cars And Light Trucks |
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Other Repair Services For Cars And Light Trucks |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Automotive Oil Change and Lubrication Shops company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Automotive Oil Change and Lubrication Shops industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Automotive Oil Change and Lubrication Shops measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 5% | Order at top of page |
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| Top Executives | 5% | |||
| Chief Executives | % | |||
| General and Operations Managers | 5% | |||
| General and Operations Managers | 5% | |||
| Installation, Maintenance, and Repair Occupations | 15% | |||
| Vehicle and Mobile Equipment Mechanics, Installers, and Repairers | 12% | |||
| Automotive Technicians and Repairers | 10% | |||
| Automotive Service Technicians and Mechanics | 10% | |||
| Transportation and Material Moving Occupations | 69% | |||
| Supervisors of Transportation and Material Moving Workers | 7% | |||
| First-Line Supervisors of Transportation and Material Moving Workers | 7% | |||
| First-Line Supervisors of Transportation and Material Moving Workers, Except Aircraft Cargo Handling Supervisors | 7% | |||
| Other Transportation Workers | 11% | |||
| Transportation Service Attendants | 11% | |||
| Automotive and Watercraft Service Attendants | 11% | |||
| Material Moving Workers | 50% | |||
| Laborers and Material Movers | 50% | |||
| Cleaners of Vehicles and Equipment | 50% | |||
Automotive Oil Change and Lubrication Shops Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Automotive Oil Change and Lubrication Shops industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Automotive Oil Change and Lubrication Shops industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Automotive Oil Change and Lubrication Shops industry. |
Source:
Innovation News
- Nov 30, 2021: High Line Lube trademarks "MR. SPARKLE" - Car washing; Providing self-service car washing facilities
- Nov 30, 2021: High Line Lube trademarks "MR SPARKLE CAR WASH" - Car washing; Providing self-service car washing facilities
- May 31, 2020: Car TLC trademarks "FLEET TLC" - Installation and maintenance of cameras and global positioning systems; Installation of security systems; Installation of cameras and global positioning systems; Installation and repair of computer hardware
Recent Federal Contracts for Automotive Oil Change and Lubrication Shops- Jan 17, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $15,462
- Jan 17, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $15,462
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