China Automotive Restoration Market Overview, 2029

In China, the concept of car restoration is relatively new, having gained traction over the last decade or so. The country's automotive industry has historically been concentrated on new automobile production, with little attention given to vintage vehicle restoration. However, in recent years, there has been a noteworthy shift in consumer preferences, owing to a growing nostalgia for classic vehicles. Enthusiasts are becoming increasingly interested in preserving automotive history, notably European and American luxury cars from the 1950s to the 1970s. This growing interest in vintage vehicles has opened up a new market for car restoration services in China. Compared to the well-established restoration cultures of the United States and Europe, China's market is relatively new but fast evolving. Despite its youth, the Chinese restoration sector is rapidly catching up, fueled by a rising enthusiast group and renewed interest in old automobiles. This changeover marks a significant shift in global restoration dynamics, with China emerging as a competitive participant in the vintage automobile market, prepared to make important contributions to the industry in the near future. According to the research report “China Automotive Restoration Market Overview, 2029," published by Bonafide Research, the China Automotive Restoration market is expected to grow with more than 9% CAGR from 2024 to 2029. One of the most challenging issues that drivers and restoration enthusiasts in China encounter is finding parts, particularly for non-domestic vehicles. Because older vehicle parts and components are in short supply, obtaining the materials needed for restoration efforts can be difficult. Furthermore, qualified restoration professionals are in short supply, exacerbating the situation. As a result, restoration services are sometimes costly, and finding reputable professionals to handle restoration work can be difficult. Aside from the logistical problems of acquiring parts and experienced technicians, automotive restoration enthusiasts in China may find it tough to navigate the regulatory framework. Obtaining the proper licences and permits for restoration operations, as well as registering repaired automobiles, may be a difficult and time-consuming task. Furthermore, regulations governing automotive restoration and modifications are always changing, complicating issues for both amateurs and specialists. Despite these hurdles, China's growing interest in car restoration predicts that the market will continue to rise in the coming years, fueled by a growing respect for automotive history and craftsmanship.

The restoration industry encompasses various vehicle types and services, catering to both passenger cars and commercial vehicles. When it comes to services, there are two primary categories: partial restoration and full/complete restoration. A partial restoration typically involves upgrading mechanical systems while also addressing electrical, cooling, and fuel delivery systems. On the other hand, a full restoration entails disassembling the vehicle entirely and replacing each part to restore it to drivable condition. Within the realm of restoration, different applications target specific types of vehicles. Classic car restoration involves the meticulous process of restoring vintage automobiles to their original glory, encompassing repairs and recreation of various components. Muscle car restoration focuses on refurbishing or enhancing muscle cars, either to their original condition or beyond original specifications. Antique car restoration and luxury car restoration also have their niches, with the former centred on preserving and reviving antique vehicles and the latter aimed at restoring or improving vintage and collector cars to their original splendour or beyond. Each type of restoration requires expertise, attention to detail, and a deep understanding of the vehicle's history and specifications to bring it back to life or elevate it to new heights of excellence. The market for historic automobiles provides numerous chances for businesses specialising in various sectors of the industry, such as parts sourcing, restoration services, and classic car sales. With the growing interest in vintage autos, trade exhibitions and events dedicated to classic cars are becoming increasingly popular. These events provide important platforms for enthusiasts, collectors, and businesses to present their products and services, promoting networking opportunities and driving future growth in the field. Existing players in the historic car sector include established repair shops that specialise in high-end vehicles and restoration enterprises. However, the market is seeing the appearance of new participants with competence in classic car restoration, drawn by the increased demand for historic autos as well as the prospects provided by technological and craftsmanship advances. These newcomers provide new viewpoints and inventive approaches, which add to the market's dynamic and competitiveness. Limited domestic production of restoration-specific parts frequently necessitates the importation of such components, although at greater rates. This dependency on imports highlights the difficulties that restoration hobbyists and corporations confront in obtaining critical materials for their projects. Without a strong domestic production infrastructure, stakeholders must navigate overseas markets to obtain critical parts, which add complexity and cost to the restoration process. The Covid-19 outbreak caused significant delays in the repair business, affecting supply chains and delaying projects owing to part shortages and travel restrictions. Despite these obstacles, the market remains resilient and showing signs of revival. As worldwide conditions improve and constraints loosen, restoration projects are gradually resumed, fueled by pent-up demand and the unwavering enthusiasm of enthusiasts seeking to resurrect automobile classics. Looking ahead, the future of China's car restoration sector is positive. With a growing middle class, more car ownership, and higher discretionary incomes, demand for restoration services and historic autos is likely to skyrocket in the years ahead. This predicted growth creates profitable prospects for both businesses and fans as China's automotive scene undergoes a transition fueled by a renewed passion for old automobiles and heritage preservation. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029

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Prashant Tiwari

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Aspects covered in this report • Automotive Restoration market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Vehicle Type • Passenger Cars • Commercial Vehicles By Service • Partial Restoration • Full/Complete Restoration

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By Application • Classic Car Restoration • Muscle Car Restoration • Antique Car Restoration • Luxury Car Restoration The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Automotive Restoration industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.