Global Automotive Collision Repair Market Report 2022: Passenger Cars Lead a $208.3 Billion Industry – GlobeNewswire | CarTailz

DUBLIN, Nov. 10, 2022 (GLOBE NEWSWIRE) — The Global Automotive Collision Repair Market By Product, By Service Channel, By Vehicle Type, By Region Outlook, Industry Analysis Report And Forecast, 2021-2027 report has been added ResearchAndMarkets.com Offer.

The global automotive collision repair market size is expected to reach US$208.3 billion by 2027, representing a CAGR 1.9% market growth over the forecast period.

The restoration and replacement processes performed on automobiles damaged in an accident are known as automobile collision repair. It includes denting, painting, restoring, repairing, replacing, and refinishing structural or cosmetic parts of vehicles, such as glass windows, bumpers, and car doors. Paints, anti-scratch coatings, replacement components and other repair materials are commonly used in auto crash repairs.

An increase in car traffic is attributed to factors such as global population growth, rising disposable incomes and increasing sales of light commercial vehicles in emerging markets. This increases the number of car accidents.

Market Growth Factors:

Constant technological progress

In recent years, the number of road accidents and fatalities has increased dramatically. One of the main factors contributing to this number is the introduction of the drink and drive concept. Additionally, the tremendous expansion in the automotive industry is expected to help customers avail these services more easily. The increasing demand for electric and hybrid vehicles (H/EVs) as well as conventional automobiles has increased customer demand for maintenance services. Accordingly, car dealerships are increasingly selling consumer do-it-yourself (DIY) kits that contain sophisticated and customized replacement parts.

Passenger cars should boost market growth

The automotive collision repair services market is primarily segmented into three vehicle types: passenger, light commercial and heavy commercial. Globally, passenger cars make up a significant proportion of all automobiles. Passenger cars, which have a larger fleet, are involved in accidents more frequently than commercial vehicles. Therefore, this factor is expected to help many service providers to provide services by considering the needs and requirements of different types of passenger cars.

Marketing Limiting Factor:

Lack of trained professionals

In both developing and developed countries, there are fewer trained personnel who can effectively perform collision repairs. This shortage is expected to motivate people to prefer repair services from the locally available mechanics. In addition, these services come with a high cost, which is why many people tend to sell their car after a serious collision or accident. The cost of hiring a repair specialist is the number one factor stopping individuals from doing it. Repairing a damaged car can cost anywhere from a few hundred dollars to several thousand dollars.

scope of the study

Market Segments Covered in the Report:

By product

  • spare Parts
  • consumables
  • Colors & Coatings

Via service channel

  • OE
  • do it yourself (do it yourself)
  • DIFM

By vehicle type

  • light vehicle
  • heavy duty vehicle

According to geography

  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • United Kingdom
  • France
  • Russia
  • Spain
  • Italy
  • rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Important market participants

List of companies profiled in the report:

  • Automotive Technology Products LLC
  • International Automotive Components (IAC) Group
  • 3M company
  • Continental AG
  • Robert Bosch GMBH
  • Honeywell International, Inc.
  • Denso Corporation
  • Tenneco, Inc.
  • Magna International, Inc.
  • Faurecia (PSA Group)

Main topics covered:

Chapter 1. Market Scope and Methodology

Chapter 2. Market Overview

Chapter 3. Competitive Analysis – Global

Chapter 4. Global Automotive Collision Repair Market by Product

Chapter 5. Global Automotive Collision Repair Market by Service Channel

Chapter 6. Global Automotive Collision Repair Market by Vehicle Type

Chapter 7. Global Automotive Collision Repair Market by Region

Chapter 8. Company Profiles

companies mentioned

  • Automotive Technology Products LLC
  • International Automotive Components (IAC) Group
  • 3M company
  • Continental AG
  • Robert Bosch GMBH
  • Honeywell International, Inc.
  • Denso Corporation
  • Tenneco, Inc.
  • Magna International, Inc.
  • Faurecia (PSA Group)

For more information about this report, visit https://www.researchandmarkets.com/r/pxhj98

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