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- Global Automotive Collision Repair Market
Global Automotive Collision Repair Market to Reach US$ 230.7 Billion by 2032, Propelled by Rising Incidences of Road Accidents
July 25, 2022
| Automotive Industry
The latest report by IMARC Group, titled “Automotive Collision Repair Market Report by Product Type (Paints and Coatings, Consumables, Spare Parts), Service Channel (OEMs, Aftermarket, and Others), Vehicle Type (Passenger Cars, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), Two Wheelers), and Region 2024-2032,” finds that the global automotive collision repair market size reached US$ 194.4 Billion in 2023. Automotive collision repair refers to various restorative and replacement procedures performed on vehicles damaged in an accident. It involves painting, denting, restoring, repairing, and replacing consumable products to adhere to the stringent safety standards established by the governing authorities and manufacturers. The materials used in automotive collision repair usually include tires, batteries, wear and tear parts, air filters, cabin filters, oil filters, wiper blades, collision body, starters, and alternators.
Global Automotive Collision Repair Market Trends:
The market is primarily driven by the rising instances of road accidents and fatalities across the globe. In addition, the expanding automotive industry and the rising sales of hybrid and electric vehicles (H/EVs) and conventional cars have further encouraged individuals to avail collision repair services. Besides this, manufacturers are widely adopting 3D printing technology to manufacture complex automotive components and prototypes. This, coupled with the introduction of do-it-yourself (DIY) kits consisting of complex and customized spare parts for consumers, is positively influencing the market growth. Moreover, the rising popularity of automobile insurance policies with economical premium rates and the inflating income levels of consumers are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 230.7 Billion by 2032, exhibiting a CAGR of 1.8% during the forecast period (2024-2032).
Market Summary:
- Based on the product type, the market has been classified into paints and coatings, consumables, and spare parts.
- On the basis of the service channel, the market has been segregated into OEMs, aftermarkets, and others.
- Based on the vehicle type, the market has been segmented into passenger cars, light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), and two-wheelers.
- Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being 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.
Report Scope:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Product Type, Service Channel, Vehicle Type, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | 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. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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