Automotive Collision Repair Market Demand, Drivers and Growth Opportunities
IMARC Group has recently released a new research study titled “Automotive Collision Repair Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the automotive collision repair market?
The global automotive collision repair market size reached US$ 190.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 216.0 Billion by 2028, exhibiting a growth rate (CAGR) of 2.2% during 2023-2028.
What is automotive collision repair?
Automotive collision repair include numerous restorative and replacement procedures performed on vehicles damaged in an accident. It involves denting, painting, repairing, restoring, replacing, and refinishing structural components of automobiles, including bumpers, glass windows, doors, etc. Automotive collision repair utilizes various materials, such as paints, scratch-resistant coatings, resin materials, engine motor oil, spare parts, etc.
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Automotive Collision Repair Market Growth Drivers and Trends:
The rising incidences of road accidents and fatalities across the globe are primarily driving the automotive collision repair market. Furthermore, the expanding automotive industry is also propelling the automotive collision repair market growth. In line with this, the elevating sales of hybrid and electric vehicles (H/EVs) are also escalating the demand for repair services. Additionally, several automotive retailers are offering Do-it-Yourself (DIY) kits consisting of complex and customized spare parts for the consumers, which are further augmenting the global market.
Apart from this, the utilization of 3D printing technology to manufacture complex automotive components and prototypes is acting as another significant growth-inducing factor. Besides this, the increasing expenditure capacities and widespread availability of affordable automobile insurance policies are expected to fuel the automotive collision repair market over the forecasted period.
Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the global automotive collision repair market has been studied in the report with the detailed profiles of the key players operating in the market.
Automotive Collision Repair Companies:
3M Company
Automotive Technology Products LLC
Caliber Collision
Continental AG
Denso Corporation
DuPont de Nemours Inc.
Eastman Chemical Company
Faurecia SE
Honeywell International Inc.
IAC Group
Magna International Inc.
Robert Bosch GmbH
Tenneco Inc.
Key Market Segmentation:
The report has segmented the global automotive collision repair market on the basis of product type, service channel, vehicle type and region.
Breakup by Product Type:
Paints and Coatings
Consumables
Spare Parts
Breakup by Service Channel:
OEMs
Aftermarket
Others
Breakup by Vehicle Type:
Passenger Cars
Light Commercial Vehicles (LCVs)
Heavy Commercial Vehicles (HCVs)
Two Wheelers
Geographical Analysis:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
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Key Highlights of the Report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Industry Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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