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Global Automotive Collision Repair Market size was valued at USD 198.91 Billion in 2023 and is poised to grow from USD 202.6 Billion in 2024 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)', 'Federal-Mogul LLC (US)', '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)', 'Tenneco Inc. (US)', 'Valeo SA (France)', 'ZF Friedrichshafen AG (Germany)'

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.

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Global Automotive Collision Repair Market

Product ID: SQMIG25A2115