Automotive Collision Repair Market Growth Opportunities and Forecast till 2030
The Global Market for Automotive Collision Repair accounted for US$ 123 Billion in 2021 and is anticipated to reach US$ 196 Billion by 2030 with a CAGR of 5.5% from 2022 to 2030.
When trained automotive experts repair the damaged parts and bodywork of automobiles that have been affected by accidents, weather, or other mishaps, they are known as auto collision repair. Dent removal, auto glass replacement, scratch removal, paint matching, replacing doors or panels, straightening bent metal, and more are all examples of collision repair. Many specialists also liaise with insurance companies directly to ensure that any work is covered. Engine motor oil and resin material are the two primary consumable items. Repair materials, accident components, mechanical parts, and tools are among the spare parts used in car repairs.
Automotive Collision Repair Market
Automotive Collision Repair Market Size in 2021
US$ 123 Billion
Automotive Collision Repair Market Forecast By 2030
US$ 196 Billion
Automotive Collision Repair Market CAGR During 2022 – 2030
Automotive Collision Repair Market Analysis Period
2018 - 2030
2022 - 2030
By Product, By Service Channel, By Vehicle Type, and By Region
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled
3M, MANN+HUMMEL Continental AG, Faurecia SE, Denso Corporation, Honeywell International Inc., Federal-Mogul Corporation, Martinrea International, Inc., Mitsuba Corporation, and Robert Bosch GmbH
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Automotive Collision Repair Market Dynamics
The growing requirement for road safety, as well as the resulting rules and recommendations for automotive safety, are key market drivers. Furthermore, natural disasters and an increase in road accidents resulting in vehicle damage boost growth. Another aspect pushing business sector growth is the rapid progress of paints and coatings innovation, which adapts to the protecting automobile materials and nicely finished-up wants.
To increase their client reach, automotive manufacturers place a premium on product differentiation as well as partnership with other globally famous businesses. Furthermore, increased international trade activities are expected to increase the number of heavy commercial fleets around the world, which would benefit the growth of the automobile collision repair market. This also improves the availability of cutting-edge service garages and automotive repair shops outfitted with new technologies for vehicle repairing, painting, body repair, and denting.
Automotive aftermarket is expected to drive the trend throughout the forecasted years. The launch of an online portal offering aftermarket components in sync with worldwide auto-part supplier groupings, as well as the automation of component delivery sales and customer service, are expected to garner significant funding from important stakeholders. Advances in original equipment design and production technology have touched all divisions of the automotive aftermarket in the 21st century, according to a SEMA analysis.
Automotive Collision Repair Market Insights
Product, service channel, vehicle type, and region are the four categories of the global Automotive Collision repair industry. Based on the product sector, the segmentation includes paints & coatings, consumables, and spare parts. Based on our analysis, the spare parts segment is expected to dominate the Automotive Collision repair market during the predicted years. The supply of spare parts and materials is crucial in cutting down on the time it takes to repair accident-damaged automobiles.
The service channel segment is divided into DIFM, DIY, and OE. Based on service channel, the OE segment achieved a significant market share in 2021. The vehicle type segment is further categorized into heavy-duty vehicle and light-duty vehicle. The utility of light-duty cars as an alternative method of transportation has increased the demand for light-duty vehicles tremendously throughout the years.
Market Geographical Competition
The global Automotive Collision repair industry is divided into North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa. North America will have the largest market share of any region in 2021, owing to growing growth in nations such as the United States and Canada. Several firms have begun to produce entire kits that offer people DIY options. The Asia-Pacific region, on the other hand, is predicted to grow at the fastest rate from 2022 to 2030, owing to a higher rate of road traffic accidents and a huge sale of passenger automobiles in the region.
Global Automotive Collision Repair Industry Segment Analysis
Automotive Collision Repair Market By Product
· Spare Parts
· Paints & Coatings
Automotive Collision Repair Market By Service Channel
Automotive Collision Repair Market By Vehicle Type
· Light-Duty Vehicle
· Heavy-Duty Vehicle
Automotive Collision Repair Market Leading Companies
This section of the study honors the market's top vendors 3M, MANN+HUMMEL Continental AG, Faurecia SE, Denso Corporation, Honeywell International Inc., Federal-Mogul Corporation, Martinrea International, Inc., Mitsuba Corporation, and Robert Bosch GmbH are the key companies mentioned in the research.
Automotive Collision Repair Market Regions
· Rest of Europe
· Rest of Latin America
· South Korea
· Rest of Asia-Pacific
Middle East & Africa
· South Africa
· Rest of Middle East & Africa