Automotive collision repair market expected to reach $172 billion in revenue between 2021 and 2027 at a CAGR of 5% – Digital Journal | CarTailz

Automotive Collision Repair Market 2022- Summary of the Report

Despite the ongoing Covid-19 pandemic, the automotive collision repair services market is expected to grow steadily over the coming years. This is mainly due to the increasing number of traffic accidents and the need for repairs. According to market estimates The global automotive collision repair services market is projected to reach US$172 billion in revenue by the end of 2027, registering a CAGR of 5%.

One of the key growth drivers for the market is the increasing number of vehicle owners. With more people owning vehicles, the number of traffic accidents increases accordingly. This in turn increases the demand for collision repair services. Another important factor driving the market growth is the developing technologies in the automotive industry.

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Automotive Collision Repair Services Market segmented into Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles in Parts & Components, Paints & Coatings

Rise in average vehicle age, poor quality of infrastructure and increase in vehicle inventory are considered as prominent factors that will propel the growth of the global automotive accident repair services market during the forecast period. On the other hand, legislation, vehicle standards and road infrastructure are improving as concerns about the rising number of road deaths increase. This, in turn, may result in fewer collisions and consequently may hamper the growth of the global automotive collision repair services market to some extent.

Company Profiles-

  • 3M
  • Abra body & glass
  • BASF
  • Continental AG
  • Robert Bosch
  • dupont
  • Honeywell International Ltd
  • Federal-Mogul Corporation
  • Denso Corporation

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Automotive Collision Repair Services Market: The Essential Takeaways

  • Despite technological glitches in crash avoidance devices (such as collision avoidance systems and technology), distracted driving has resulted in an increased number of collisions.
  • Due to the relatively larger fleet of passenger cars around the world, the passenger car segment is estimated to generate the maximum revenue among vehicle types throughout the forecast period. The scenario in terms of vehicle type in North America is a bit different. The light commercial vehicle segment accounts for almost half of the total market share.
  • Components such as radiators, condensers, hoods and bumpers have relatively higher replacement rates as these are the most susceptible to damage during a collision. Although the Parts & Components segment is expected to take a dominant market share, the Paints & Coatings segment is expected to see higher growth. Advanced color development and high customer expectations characterize today’s refinishing.
  • Geographically, Asia-Pacific is expected to account for the largest share of the global automotive crash repair services market throughout the forecast period. Regions such as China, India, and ASEAN, which are seeing significant growth in automobile sales and vehicle fleet, are expected to see relatively higher growth in the global automotive collision repair services market.

Region Coverage (Regional Production, Demand and Forecast by Country, etc.):
North America (USA, Canada, Mexico)
Europe (Germany, UK, France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders
Automotive Collision Repair Market Manufacturers
Automotive Collision Repair Market Distributors/Traders/Wholesalers
Automotive Collision Repair Market Parts Components Manufacturer
industry association
Downstream Vendors

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Important Key questions answered in Automotive Collision Repair market report

How is the Automotive Collision Repair market expected to grow in the projected period?

What direction is the Automotive Collision Repair market likely to take during the forecast period in terms of volume and value?

What impact will macroeconomic factors have on the automotive collision repair market in the future?

What are the Key Market Drivers in Automotive Collision Repair Market?

What are significant opportunities and areas for improvement for manufacturers of the Automotive Collision Repair Market?

What are the key developments and trends taking over the automotive collision repair market?

Which are the emerging markets that are expected to create significant growth opportunities in the automotive collision repair market?

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