Presence of various automobile repair centers focusing on efficiency and productivity have become crucial things for the automobile industry. Increasing demand to enhance service quality and profitability in various workshops will drive automotive collision repair market share. Automotive collision repair services encompass repairs, denting, replacement, painting, and refurnishing accidentally damaged vehicles. Besides, it helps in offering Quality of products coupled with warranty services.
The global automotive collision repair market size is predicted to reach over USD 181.52 billion by 2028. This can be ascribed to the growing adoption of innovative techniques such as 3D printing of automotive parts. 3D printing technology is being deployed by key operating players in the market as it is cost-effective & significantly reduces toxic emissions. Besides, the increase in sales of vehicles due to the rise in disposable income has led to traffic congestion, and collision of vehicles which is also the key factor driving the market growth for automotive collision repair.
However, lack of technical expertise and improving vehicle safety features are hampering the market growth. Furthermore, the growing adoption of various alternative fuel vehicles in recent years is likely to provide lucrative development opportunities for the automotive collision repair market in the forthcoming years.
Automotive Collision Repair Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 181.52 billion|
|Growth Rate||CAGR of 3.4% during 2021-2028|
|Segment Covered||Product Type, Service Channel, Vehicle Type, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||BASF, Robert Bosch GmbH, Denso Corporation, Federal-Mogul LLC, Henkel, Honeywell International, Continental AG, Automotive Technology Products LLC, Johnson Controls, and Caliber Collision|
Key Segments of the Global Automotive Collision Repair Market
Product Type Overview, 2019-2028 (USD Million)
- Paints & Coatings
- Spare Parts
Service Channel Overview, 2019-2028 (USD Million)
- Original Equipment
Vehicle Type Overview, 2019-2028 (USD Million)
- Light-duty vehicle
- Heavy-duty Vehicle
Regional Overview, 2019-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global automotive collision repair market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global automotive collision repair market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the automotive collision repair industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on component, Service Channel, and vehicle type. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global automotive collision repair market. The report will benefit Every stakeholder involved in the automotive collision repair market.
- Managers within the automotive collision repair industry looking to publish recent and forecasted statistics about the global automotive collision repair market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global automotive collision repair market.
- Analysts, researchers, educators, strategy managers, and government institutions looking for insights into the market to determine future strategies.
Over the past few decades, Product enhancement, after sales service, and new product development are the major strategies implemented by market players. The industry is undergoing consolidation to increase the market share of the company. With the growing adoption of numerous technologies, collision repair market is no more limited to a particular department and being adopted across a wide range of industries and their business processes.
Advanced technologies such as 3D printing of automotive parts is anticipated to drive the global automotive collision repair market growth over the forecast time period. 3D printing technology is being deployed by key operating players in the market as it is cost-effective & significantly reducing toxic emissions. Moreover, automotive collision repair also boosts developments in the automobile sector in the fields of electric & hybrid cars. With all these capabilities automotive collision repair allows organizations to save costs as well as time spent on essential services.
Furthermore, owing to the surging environmental concerns, the use of synthetic parts and refinishing materials is expected to reduce at a large scale. Hence, automotive collision repair is expected to help organizations in using environmental-friendly solutions for the production processes.
The market is consolidated as several major market players currently hold the major market share. However, the market is expected to become fragmented in the forthcoming years as several new market players are emerging from developing countries such as India, Japan, China, and other countries.
Product Type Segment
Based on the Product Type Segment, the market is bifurcated into Consumables, Spare Parts, and Paints & Coatings. In 2020, the Paints & Coatings segment accumulated the maximum market share and it is likely to continue its dominance throughout the forecast years owing to increased adoption of environmental coatings due to surging environmental concerns ascribed to the use of detrimental synthetic coatings and refinishing materials. However, the Paints & Coatings segment is projected to attain major growth throughout the forecast years owing to the rapidly changing technology, which meets aesthetic demands and acts as a protective material.
Service Channel Segment
Based on the Service Channel, the market is segmented into Do-It-Yourself, IT, Do-It-For-Me, and Original Equipment. The Do-It-Yourself sector seized the maximum market share in 2020 and it is likely to maintain its place throughout the forecast years. The growth of this segment is largely ascribed to the retailers selling do-it-yourself (DIY) kits to consumers who prefer to repair their cars at home without any assistance. This trend is observed in many suburban parts of South America and Asia Pacific.
Vehicle Type Segment
Based on the vehicle type, the market is segmented into Heavy-duty Vehicle and Light-duty vehicle. The Light-duty vehicle segment gathered the major market share in 2020 and it is likely to continue its dominance throughout the forecast years. The light-duty vehicles segment comprises hatchbacks, sedans, SUVs, and crossover cars. The heavy-duty vehicles segment includes commercial and multi-axle vehicles such as trucks and buses. Heavy-duty vehicles are anticipated to be used for the transportation of bulk products within any country or region. Increasing trade activities is expected to augment the demand for heavy-duty vehicles equipped with the latest technologies for hauling and loading.
Europe is likely to account for the maximum market contribution during the forecast years. The domination of this region is largely ascribed to the increased growth in countries such as the U.S. and Canada. Several companies have initiated the production of complete kits that provide DIY solutions to the users. However, the Asia-Pacific is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the automotive collision repair market in this region is mostly ascribed to the increasing number of vehicle sales in the said region. An upsurge in vehicular damage due to the lack of stringent driving regulations in the Asia Pacific region is further driving the regional market growth.
The major players of the global automotive collision repair market are BASF, Robert Bosch GmbH, Denso Corporation, Federal-Mogul LLC, Henkel, Honeywell International, Continental AG, Automotive Technology Products LLC, Johnson Controls, and Caliber Collision. Renowned companies are offering new and modern automotive collision repair solutions. Besides, the previously recognized as well as new market players are approaching the market with advanced and new strategic solutions and to remain competitive in the global market.