Global Automotive Collision Repair Market

Automotive Collision Repair Market Size, Share, Growth Analysis, By Vehicle Type (Light-duty vehicle, Heavy-duty vehicle), By Product (Spare parts, Paints & coatings), By Service (DIY, DIFM), By Region - Industry Forecast 2024-2031


Report ID: SQMIG25A2115 | Region: Global | Published Date: August, 2024
Pages: 223 | Tables: 62 | Figures: 75

Automotive Collision Repair Market Regional Insights

In 2022, Europe emerged as the dominant region in the global automotive collision repair market, capturing a significant revenue share of 42.5%. This region is expected to maintain a steady compound annual growth rate (CAGR) over the forecast period. The growth can be attributed to several factors, including the increasing penetration of vehicles equipped with enhanced safety features and a relatively stagnant sales volume. The need for metal part replacements and repairs for damaged plastics is expected to contribute to the growth of the European market.

Asia Pacific is projected to experience the fastest CAGR of 3.6% over the forecast period. The significant growth in the automotive collision repair industry in this region can be attributed to the rising number of vehicle sales. The lack of stringent driving regulations in certain countries within the Asia Pacific region has resulted in an upsurge in vehicular damage, further driving the demand for collision repair services. The Asia Pacific region is seen as a source of components for both local companies and multinational corporations aiming to supply low-cost components to prominent vehicle manufacturers.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Automotive Collision Repair Market size was valued at USD 195.20 Billion in 2022 and is poised to grow from USD 198.91 Billion in 2023 to USD 231.23 Billion by 2031, at a CAGR of 1.90% during the forecast period (2024-2031).

The global automotive collision repair market is highly competitive in nature, characterized by the presence of several key players striving to gain a significant market share. These companies focus on expanding their service offerings, enhancing their repair capabilities, and establishing a strong network of repair centers to cater to the growing demand for collision repair services. The competitive landscape of the market is shaped by factors such as technological advancements, partnerships, mergers and acquisitions, and investments in research and development. Partnerships and collaborations are also prominent in the competitive landscape as companies seek to leverage each other's strengths. Collaborations with vehicle manufacturers and insurance providers help streamline the repair process, ensuring efficient communication and faster claims processing. Moreover, partnerships with technology companies and equipment suppliers enable access to the latest repair technologies and tools, enhancing the company's capabilities and service offerings. '3M (US) ', 'Akzo Nobel N.V. (Netherlands) ', 'Axalta Coating Systems (US) ', 'BASF SE (Germany) ', 'Continental AG (Germany) ', 'Denso Corporation (Japan) ', 'DuPont de Nemours, Inc. (US) ', 'Faurecia SA (France) ', 'Henkel AG & Co. KGaA (Germany) ', 'Honeywell International Inc. (US) ', 'Johnson Controls International plc (Ireland) ', 'Magna International Inc. (Canada) ', 'PPG Industries, Inc. (US) ', 'Robert Bosch GmbH (Germany) ', 'Saint-Gobain S.A. (France) ', 'Solera Holdings, Inc. (US) ', 'Valeo SA (France) ', 'ZF Friedrichshafen AG (Germany) ', 'Nexa Autocolor (PPG Industries) (US) ', 'Sikkens (Akzo Nobel) (Netherlands) ', 'Soudal (Belgium) ', 'Sharpline Converting, Inc. (US)'

The automotive collision repair market is driven by the overall growth in vehicle sales globally. As the number of vehicles on the road increases, the likelihood of accidents and collisions rises as well, creating a higher demand for collision repair services. In 2022, there was a surge in vehicle sales, particularly in emerging markets such as China and India. For example, China's passenger car sales reached over 21 million units in 2022, driving the demand for collision repair services in the country.

Demand for Electric Vehicle (EV) Repairs: With the growing adoption of electric vehicles, the automotive collision repair market is witnessing an increasing demand for repairs and maintenance specific to EVs. This includes repairs to electric powertrains, battery systems, and charging infrastructure. In 2022, the sales of electric vehicles surged, with notable examples being the Tesla Model 3 and the Nissan LEAF. The rising popularity of EVs is driving the need for specialized collision repair services tailored to these vehicles.

In 2022, Europe emerged as the dominant region in the global automotive collision repair market, capturing a significant revenue share of 42.5%. This region is expected to maintain a steady compound annual growth rate (CAGR) over the forecast period. The growth can be attributed to several factors, including the increasing penetration of vehicles equipped with enhanced safety features and a relatively stagnant sales volume. The need for metal part replacements and repairs for damaged plastics is expected to contribute to the growth of the European market.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Automotive Collision Repair Market

Report ID: SQMIG25A2115

$5,300
BUY NOW GET FREE SAMPLE