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.
Industry Overview:
Automotive Collision Repair refers to the process of restoring a vehicle back to its original condition after it has been involved in an accident. This service encompasses a range of activities, from minor cosmetic fixes, like repairing scratches and dents, to major structural repairs, including fixing damaged frames and body parts. The process often involves several steps, including assessing the damage, disassembling affected areas, repairing, or replacing parts, painting, and reassembling. Collision repair requires expertise in various automotive systems and the use of specialized tools and equipment.
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Market Growth Drivers:
Advancements in vehicle technology represents one of the key factors driving the growth of the market across the globe. Modern vehicles are equipped with advanced materials and complex systems, requiring specialized repair techniques and tools, which drive the demand for professional collision repair services. As the number of vehicles on the road increases, the likelihood of accidents and, consequently, the need for collision repairs rises. Increased traffic congestion in urban areas leads to a higher incidence of vehicular accidents, which is subsequently boosting the market.
Governments are implementing stricter vehicle safety and emission regulations, necessitating thorough repairs and maintenance to ensure compliance, which is fueling the market. The expansion of auto insurance coverage and the inclination of insurance companies to cover collision repair costs encourage vehicle owners to opt for professional repair services.
The growing consumer emphasis on maintaining the aesthetic appearance of vehicles contributes to the demand for collision repair services. Innovations in repair tools and equipment, like computerized paint-matching systems and laser frame diagnostics, are enhancing the efficiency and quality of repairs, which is attracting more customers.
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
- 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 (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- 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.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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