Global Automotive Collision Repair Market Growth (Status and Outlook) 2024-2030
Automotive Collision Repair market size was valued at US$ 32220 million in 2023 and is estimated to reach US$ 37210 million by 2030 with a CAGR of 2.1% during review period.
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According to Publisher’s latest study, the global Automotive Collision Repair market size was valued at US$ 32220 million in 2023. With growing demand in downstream market, the Automotive Collision Repair is forecast to a readjusted size of US$ 37210 million by 2030 with a CAGR of 2.1% during review period.
Market Overview
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A Bonafide Research industry report provides in-depth market analysis, trends, competitive insights, and strategic recommendations to help businesses make informed decisions.
The research report highlights the growth potential of the global Automotive Collision Repair market. Automotive Collision Repair are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Automotive Collision Repair. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Automotive Collision Repair market.
Paints, coatings, and accompanying consumables such as auto components and other spares are widely used in the automotive collision repair market. This report mainly covers the automotive coatings & paints, automotive parts and other consumables product used for automotive collision repairing.
Also, this report only does not cover automotive collision repairing services and equipment.
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Manmayi Raval
Research Consultant
Key Features:
Market Drivers: Growing Vehicle Ownership: One of the main factors propelling the automotive collision repair market is the ongoing increase in vehicle ownership worldwide, especially in emerging economies.
Increased Road Traffic Accidents: As a result of urbanization and increased traffic congestion, there is a rise in road traffic accidents, which is driving up demand for collision repair services.
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Improvements in Repair technology: The effectiveness and caliber of collision repairs are being improved by advancements in repair technology, such as computerized paint matching, sophisticated welding methods, and the use of high-strength materials.
Growth of the Automotive Aftermarket: The market is growing as a result of the growing need for repair and maintenance services, which is fueling the expansion of the automotive aftermarket.
Tight Safety requirements: The use of advanced collision repair solutions is being fueled by government safety requirements and regulations that require the use of premium repair components and services.
Growing disposable Incomes: Consumers are now able to spend more on auto maintenance and repair services thanks to rising disposable incomes, especially in emerging markets.
Challenges: High Costs of innovative Repair methods: For budget and mid-range cars in particular, the high costs of innovative repair methods and materials might be a deterrent to market expansion.
Technical Complexity: Due to the sophisticated electronic systems and high-strength materials found in current cars, repairing them demands a considerable amount of knowledge and money.
Regulatory Compliance: It can be difficult for repair service providers to navigate the complicated regulatory environment for environmental standards and automobile safety across several locations.
Disruptions in the Supply Chain: Global crises and geopolitical tensions can intensify supply chain disruptions for repair parts and materials, which can have an adverse effect on service availability and market expansion.
Problems with insurance and warranties: Difficulties with coverage, insurance claims, and warranties might influence consumer choices and the need for collision repair services.
Market Forecasts and Future Outlook: Growing vehicle ownership, an increase in traffic accidents, and improvements in repair technology are all projected to fuel the worldwide automotive collision repair market's strong growth between 2024 and 2030. Sustained expansion will need addressing issues like high costs and regulatory compliance. There are plenty of chances in this sector to innovate, grow into new markets, and create environmentally responsible and sustainable repair solutions.
Opportunities: Eco-Friendly and Sustainable Repair Solutions: Developing eco-friendly and sustainable repair solutions, such waterborne paints and recyclable materials, can draw in customers who care about the environment.
Growth into Emerging Markets: There is a lot of room for expansion in emerging markets, where there is a growing middle class and a rise in the number of people who own cars.
Technological Innovations: Improving the effectiveness and precision of collision repairs can be achieved by utilizing technological breakthroughs in repair, such as automated repair systems and augmented reality.
Emphasis on Personalization and Customization: Creating repair solutions that are individualized and customized to fit particular car models and client tastes can improve customer satisfaction and market differentiation.
Strategic Alliances: Establishing alliances with insurance providers, technology businesses, and automakers can improve market share and spur innovation.
Improved Aftermarket Services: Long-term market growth and customer happiness can be increased by providing full aftermarket services, which include maintenance, repairs, and technical support.
Market Segmentation:
Automotive Collision Repair market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value.
1. Segmentation by type
• Automotive Coatings & Paints
• Automotive Parts
• Others
2. Segmentation by application
• Light-Duty Vehicles
• Heavy-Duty Vehicles
Regional Insight: North America: With a high rate of vehicle ownership, large investments in automotive repair technology, and a thriving aftermarket sector, North America dominates the market. With a high demand for OEM and aftermarket collision repair parts and services, the United States plays a significant role.
Europe: Europe is next, leading the way are nations like France, Germany, and the United Kingdom. The adoption of cutting-edge collision repair technologies is fueled by the region's emphasis on innovation, safety, and regulatory compliance.
Asia-Pacific: Because of its fast urbanization, expanding car ownership, and rising consumer spending, this area is predicted to grow at the fastest rate. India, China, and Japan are important markets with significant room for expansion.
Latin America: The region's market is expanding gradually due to rising investments in the automobile industry, rising rates of urbanization, and economic development. The two largest markets are Mexico and Brazil.
Middle East and Africa: Due to economic diversification, urbanization, and rising infrastructure and automotive project investments, the Middle East and Africa area offers growth prospects. Notable markets with substantial potential are South Africa and the United Arab Emirates.
1. Americas
• United States
• Canada
• Mexico
• Brazil
2. APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
3. Europe
• Germany
• France
• UK
• Italy
• Russia
4. Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries
Competitive Landscape: The concentration of the market is very low, among those manufacturers, Valeo, Magna, Denso, PPG Industries, Hyundai Mobis, Axalta, Bosch, Aisin Seiki, BASF and 3M are typical vendors, with about 35% market shares.
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
• Valeo
• Magna
• Denso
• PPG Industries
• Hyundai Mobis
• Axalta
• Bosch
• Aisin Seiki
• BASF
• 3M
• Faurecia
• Nippon Paint
• Akzonobel
• Plastic Omnium
• ZF
• DuPont
• HBPO
• Kansai
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Automotive Collision Repair Market Size 2019-2030
2.1.2 Automotive Collision Repair Market Size CAGR by Region 2019 VS 2023 VS 2030
2.2 Automotive Collision Repair Segment by Type
2.2.1 Automotive Coatings & Paints
2.2.2 Automotive Parts
2.2.3 Others
2.3 Automotive Collision Repair Market Size by Type
2.3.1 Automotive Collision Repair Market Size CAGR by Type (2019 VS 2023 VS 2030)
2.3.2 Global Automotive Collision Repair Market Size Market Share by Type (2019-2024)
2.4 Automotive Collision Repair Segment by Application
2.4.1 Light-Duty Vehicles
2.4.2 Heavy-Duty Vehicles
2.5 Automotive Collision Repair Market Size by Application
2.5.1 Automotive Collision Repair Market Size CAGR by Application (2019 VS 2023 VS 2030)
2.5.2 Global Automotive Collision Repair Market Size Market Share by Application (2019-2024)
3 Automotive Collision Repair Market Size by Player
3.1 Automotive Collision Repair Market Size Market Share by Players
3.1.1 Global Automotive Collision Repair Revenue by Players (2019-2024)
3.1.2 Global Automotive Collision Repair Revenue Market Share by Players (2019-2024)
3.2 Global Automotive Collision Repair Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
3.3.1 Competition Landscape Analysis
3.3.2 Concentration Ratio (CR3, CR5 and CR10) & (2022-2024)
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion
4 Automotive Collision Repair by Regions
4.1 Automotive Collision Repair Market Size by Regions (2019-2024)
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