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Automotive Collision Repair Market Size, Industry Analysis Report By Battery type (paints and coatings, adhesives and sealants, abrasives, finishing compounds), By end-user (new OEM, aftermarket, recycled, remanufactured), By vehicle (PCV, LCV, HCV, Two wheelers), By auto body shops (dealer owned shops, independent repair shops) & Region – Forecasts By 2030

  • PUBLISHED ON
  • 2024-09-27
  • NO OF PAGES
  • 266
  • CATEGORY
  • Automotive & Transportation
Market - Overview

The Global Automotive Collision Repair Market is presently worth USD 185.2 billion and is poised to amplify at a CAGR of 2.39% over 2022-2030, thereby amassing a valuation of USD 212.6 billion by end of the assessment timeline.

The advent of innovative materials like UV paint and carbon aluminium as well as the existence of several vehicle repair facilities focusing on productivity and efficiency are projected to increase demand for auto collision repair services. The automotive collision repair market size from 2019 to 2026 will be favoured by the large number of vehicle restoration businesses that distribute branded auto parts and materials through their own effective distribution channels.

Automotive collision repair market share will be driven by rising consumer demand to improve service quality and profitability in various workshops. Additionally, rising disposable income in some emerging economies, including Brazil, Mexico, China, India, and others, is promoting industry expansion for the automobile collision market over the anticipated time frame.

This can be attributable to the availability of certified expert technicians and the expanding dealership network. Products' high quality and warranty services are the two main factors that influence the automobile collision repair market share internationally. Growing new car technical complexity supports the knowledge and resources needed to handle repairs, expanding the market reach of dealer-owned shops.

Automotive Collision Repair - Description

The restorative and replacement processes carried out on automobiles damaged in an accident are referred to as automotive collision repair. Including bumpers, glass windows, and car doors, it entails denting, painting, mending, restoring, replacing, and refinishing of structural or cosmetic components of the autos. Paints, scratch-resistant coatings, spare components, and other refinishing products for restoring dents and scratches are frequently utilised in car accident repair.

It also covers a variety of consumable goods like glue and engine oil. Repair supplies, crash components, mechanical components, and tools are some examples of spare parts used in repairs. For passenger, light, and large commercial vehicles, the repairs are often made at independent, accredited garages.

Automotive Collision Repair Market - Key Trends

High grade surface finishing needs will fuel the need for paints and coatings

The demand for paints and coatings is anticipated to account for 20% of the market for automobile collision repair. Modest car dents and scratch marks caused by increasing urban traffic congestion will increase the need for minor paint touch-ups. The use of automotive refinish coatings in body shops and repair facilities has many advantages, including superior corrosion resistance and surface protection.

Opportunities for expansion in the paints and coatings industry will arise from growing customer preferences to restore automobiles so that they appear authentic and aesthetically pleasing. Refinish coatings are being distributed to the auto body repair industry through channels and standards established by businesses.

Rising ownership rates will be the primary driver of passenger car growth

The passenger car segment is anticipated to grow at a rate of above 2.5%. Increasing passenger car accidents as a result of increased road traffic density is one of the main factors influencing market statistics.

Additionally, improved access to auto servicing and repair facilities offering top-notch restoration, refurbishing, and maintenance will increase market penetration. Population growth, rising income levels, and demographic changes will all contribute to an increase in car sales and market expansion.

Automotive Collision Repair Market - Segmental Assessment

By Product
• Paints and coatings
• Adhesive and sealants
• Abrasives
• Finishing compounds
• Others

By Vehicle
• RCV
• LCV
• HCV
• Two wheelers
• Others

By End-User
• New OEM
• Aftermarket
• Recycled
• Remanufactured
• Others

By Auto Body Shops
• Dealer owned shops
• Independent repair shops
• Others

Automotive Collision Repair Market - Geographical Landscape

The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, Asia-Pacific is projected to capture a substantial revenue share over 2022-2030, The region now needs more structured auto body shops as a result of infrastructure development in many different countries and an increase in accidents as a result of more automobiles on the road.

Automotive Collision Repair Market - Competitive Landscape

The prominent companies defining the competitive terrain of this marketplace are 3M Company, Automotive Technology Products LLC, Caliber Collision, Continental AG, Denso Corporation, DuPont de Nemours Inc., Eastman Chemical Company, Faurecia SE, Honeywell International Inc., IAC Group, Magna International Inc., Robert Bosch GmbH and Tenneco Inc.

Key Segments Covered-

1) By Battery type (paints and coatings, adhesives and sealants, abrasives, finishing compounds, and others).
2) By end-user (new OEM, aftermarket, recycled, remanufactured, and others).
3) By vehicle (PCV, LCV, HCV, Two wheelers, and others).
4) By auto body shops (dealer owned shops, independent repair shops, and others).

Major Regions and Countries Reported-

1) North America (U.S., Canada, and Mexico)
2) South America (Brazil, Argentina, and Colombia)
3) Europe (Germany, U.K., France, Italy, Spain, and Russia)
4) Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
5) Asia Pacific (China, Japan, India, Australia, South Korea, and ASEAN)

Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
  • Project kickoff meeting with client
  • Conduct frequent client communications
  • Form project steering committee
  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
  • Certify project staff in SR methodologies & standards
  • Monitor client satisfaction
  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

Frequently Asked Questions

What is the market size and growth projections?

The Global Automotive Collision Repair Market is presently worth USD 185.2 billion and is poised to amplify at a CAGR of 2.39% over 2022-2030, thereby amassing a valuation of USD 212.6 billion by end of the assessment timeline.

What are the drivers shaping various markets?

High grade surface finishing needs will fuel the need for paints and coatings : - The demand for paints and coatings is anticipated to account for 20% of the market for automobile collision repair. Modest car dents and scratch marks caused by increasing urban traffic congestion will increase the need for minor paint touch-ups. The use of automotive refinish coatings in body shops and repair facilities has many advantages, including superior corrosion resistance and surface protection.

Who are the key competitors of market Players?

Some of the major players operating within the market are 3M Company, Automotive Technology Products LLC, Caliber Collision, Continental AG, Denso Corporation, DuPont de Nemours Inc., Eastman Chemical Company, Faurecia SE, Honeywell International Inc., IAC Group, Magna International Inc., Robert Bosch GmbH and Tenneco Inc.

What are the top performing segments, and countries / regions of each of the markets?

The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, Asia-Pacific is projected to capture a substantial revenue share over 2022-2030,

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