According to the latest report by IMARC Group, titled “Automotive Collision Repair Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global automotive collision repair market reached a value of US$ 185.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 212.6 Billion by 2027, exhibiting a CAGR of 2.39% during 2022-2027.
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.
Market Growth Drivers:
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 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.
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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.
Major Players Covered:
- 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
- Spare Parts
Breakup by Service Channel:
Breakup by Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles (LCVs)
- Heavy Commercial Vehicles (HCVs)
- Two Wheelers
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- 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
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