Automotive Collision Repair Market Forecast Analysis

Market Insights

Automotive Collision Repair market is expected to grow form USD 194.44 billion in 2021 to USD 224.88 billion in 2028 with a CAGR of 2.05% during the forecast period.

What is Automotive Collision Repair?

Automotive collision repair is about fixing the damaged parts and bodies of vehicles that have been damaged by accidents, weather, or other incidents. Automotive Collision Repairs are performed on different parts of an automotive such as paints and coatings, crash parts, adhesives & sealants, abrasives, finishing compounds, and others. They have majorly four sources new OEM, aftermarket, recycled, and remanufactured.

Market Drivers

Some of the major factors driving the growth of the market are-

• increasing population
• rising per capita income
• growing automobile sales

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Key Players

Some of the major automotive collision repair manufacturers are-

• 3M Company
• ATP Automotive
• Caliber Collision
• DuPont
• Continental Corporation
• Denso Corporation
• Faurecia
• Eastman Chemical Company
• Federal-Mogul Holdings Corp

Segment Analysis

By Product Type

The market is segmented as crash parts, paints and coatings, adhesives & sealants, abrasives, finishing compounds, and others. The crash parts segment accounted for the largest share of more than 63.2% in 2021 and is expected to dominate the market during the forecast period, owning to rising road accidental rates. These are designed and produced to the same specifications and tolerances as the actual parts on the vehicles and cater to the stringent road-safety requirements.

By Source Type

The market is segmented as new OEM, aftermarket, recycled, and remanufactured. The new OEMs segment held the largest share of more than 55% in 2021 and is expected to grow at the highest growth rate, due to provision for easier replacements, insurance policies, and warranty offered by OEMs, along with the improved durability and reliability offered with ease in installation.

By Vehicle Type

The market is segmented as passenger cars, LCV, HCV, and two wheelers. The passenger cars segment dominates the market, due to the rising road traffic in the developing economies, strong presence of vehicle repair centers offering restoration and refurbishment services.

By Auto Body Shops Type

The market is segmented as dealer-owned shops and independent repair shops. The dealer owned shops is expected to dominate the market owing to the growing preference for dealer-owned shops on account of easy availability of reliable and superior quality spare parts.

By Region

Europe accounted for the largest share of more than 42% in 2021. Asia-Pacific is estimated to expand at the fastest CAGR of 3.5% during the forecast period. Rising road congestion coupled with increasing number of automobile sales in China and India, are surging the demand for two-wheelers in the developing economies of Asia-Pacific along with lenient road safety laws leading to road accidents, which are expected to drive the market. 

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Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Segment Wise Anslysis: 

By Product Type:

• Crash Parts
• Paints and Coatings
• Adhesives & Sealants
• Abrasives
• Finishing Compounds
• Others

By Vehicle Type:

• Passenger Cars
• LCV
• HCV
• Two Wheelers

By Source Type:

• New OEM
• Aftermarket
• Recycled
• Remanufactured

By Auto Body Shop Type:

• Dealer-owned Shops
• Independent Repair Shops

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Trend and forecast analysis
• Segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by source type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com