The global automotive collision repair market size was valued at USD 227.60 billion in 2030 and is anticipated to grow at a CAGR of 1.9% from 2024 to 2030. Technological advancements in claims, insurance, and the automobile aftermarket have led to the development of innovative repair techniques and processes, which have significantly widened the scope for the growth of passenger and commercial vehicles. Numerous leading manufacturers, including Daimler AG (Germany) and BMW Group (Germany), are using advanced 3D printing technology for manufacturing spare parts and associated automobile components.
The expansion of the e-commerce market, coupled with the immediate availability of genuine OEM spare parts, will positively impact the automotive collision repair market. Moreover, the market is mainly being driven by the rise in traffic accidents and fatalities worldwide. The rising sales of conventional cars, and electric and hybrid vehicles (H/EVs), have further increased the need for repair services among consumers. The car stores are also providing consumers with DIY kits made up of intricate and specialized spare parts, which is further boosting the market's expansion.
Access the Automotive Collision Repair Market Size, Share & Trends Analysis Report By Product (Paint & Coatings, Consumables), By Vehicle Type (Light-duty Vehicle, Heavy-duty Vehicle), By Service Channel, By Region, And Segment Forecasts, 2024 - 2030
Technological developments in the automotive aftermarket, claims, and insurance have developed novel repair techniques and processes, greatly expanding the scope for the growth of passenger and commercial vehicles. For instance, Rolls-Royce, a car manufacturer in the U.K., used 3D printing technology to create mounting brackets for wire hoses and fiber-optic cables. Moreover, the U.S.-based National Automotive Service Task Force, which is a one-stop source for OE repair and tooling information, formed a collision repair committee. This committee is aimed to identify, address, and resolve repair/service flaws and assist vehicle repair centers in providing complete and safe automotive restoration to vehicle owners.
Paints, clear coatings, and other consumables, such as auto components and other spares, are widely used in the automotive collision repair market. Coatings and paints are used to conceal dents and scratches on automobile bodies. The increasing penetration of gas and hybrid electric vehicles is expected to drive the automotive collision repair industry further, with a new generation of vehicles introduced in novel service repair regimens.
The untapped and unorganized automotive collision repair market in the Asia Pacific region is expected to provide growth opportunities for the key vehicle repair vendors Moreover, the accessibility of advanced automotive repair and service garages equipped with advanced repair techniques for denting, painting, and body repair will drive the demand for automotive collision repair
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Automotive Collision Repair Market Report Highlights
· As stated by transportation authorities and administrations across various countries, the requirement to purchase vehicle insurance coverage is expected to drive market growth over the forecast period
· Europe held the highest revenue share in 2022 and is expected to witness significant growth during the forecast period, due to the stringency of roads and vehicle safety standards and increased demand for luxury vehicles
· The paints & coating segment is estimated to grow at a CAGR of 2.7% over the forecast period due to the growing urban traffic congestion, which causes minor vehicle dents and scratch marks, increasing the demand for minor paint touchups
· The expansion of automotive aftermarket services, advancement of multiple payment modes, and increased internet and smartphone penetration led to an increase in automotive e-commerce, which is responsible for the growth of the automotive collision repair market
Key Automotive Collision Repair Company Insights
The market is characterized by strong competition, with a few major worldwide competitors owning a significant market share. The major focus is on developing new products and collaboration among the key companies. In February 2023, Classic Collision LLC, a U.S.-based auto repair center, acquired Gale’s Auto Body, a motor vehicle manufacturer in the Blaine. Through this acquisition, Classic Collision intends to extend its presence in Minnesota and provide improved customer service during the repair process.
Key Automotive Collision Repair Companies:
The following are the leading companies in the automotive collision repair market. These companies collectively hold the largest market share and dictate industry trends.
· 3M
· Automotive Technology Products LLC (subsidiary of Lodi Group of Monterrey)
· Continental AG
· Denso Corporation
· Faurecia
· Federal-Mogul LLC
· Honeywell International, Inc.
· International Automotive Components Group
· Johnson Controls, Inc.
· Magna International Inc.
· Mann+Hummel Group
· Martinrea International Inc.
· Mitsuba Corporation
· Robert Bosch GmbH
· Takata Corporation ODU GmbH & Co.KG
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