USD 198.91 Billion
Automotive Collision Repair Market Size, Share, Growth Analysis, By Vehicle Type(Light-duty vehicle, and Heavy-duty vehicle), By Product(Paints & coatings, Consumables, and Spare parts), By Service(DIY, DIFM, OE), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2115 |
Region:
Global |
Published Date: August, 2024
Pages:
223
|Tables:
62
|Figures:
75
Automotive Collision Repair Market Insights
Global Automotive Collision Repair Market size was valued at USD 195.20 Billion in 2022 and is poised to grow from USD 198.91 Billion in 2023 to USD 231.23 Billion by 2031, at a CAGR of 1.90% during the forecast period (2024-2031).
The purpose of the market is to restore damaged vehicles to their pre-accident condition, ensuring safety and functionality while enhancing the aesthetic appeal. The market is driven by various factors, although it also faces certain challenges and constraints. However, there are numerous opportunities for growth and innovation within this market. The primary driving factor for the automotive collision repair market is the increasing number of road accidents and collisions worldwide. As the global vehicle population continues to grow, the likelihood of accidents rises, creating a higher demand for repair services. Despite its positive growth trajectory, the automotive collision repair market also faces certain restraining factors. One significant constraint is the increasing complexity of modern vehicles. With the integration of advanced materials, electronics, and safety systems, repairing and restoring vehicles becomes more challenging and requires specialized skills and equipment. The automotive collision repair market faces several challenges, including the shortage of skilled technicians.
With the increasing complexity of vehicle systems and technologies, there is a growing demand for qualified technicians capable of handling advanced repairs and diagnostics. The shortage of skilled labor can lead to delays in repairs and may hinder market growth. The automotive collision repair market presents significant opportunities for growth and innovation. The increasing adoption of hybrid and electric vehicles creates new avenues for specialized repair services. The global automotive collision repair market is driven by factors such as the increasing number of accidents, technological advancements in vehicles, and consumer awareness of safety. However, challenges like the complexity of modern vehicles and the shortage of skilled technicians can pose constraints. Nevertheless, there are ample opportunities for growth and innovation, particularly in the areas of electric vehicle repair and the integration of advanced technologies. The automotive collision repair market is poised for continued expansion as the demand for quality repair services remains strong.
US Automotive Collision Repair Market is poised to grow at sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Light-duty vehicle
Fastest Growth
Heavy-duty vehicle
Growth Rate
1.90% CAGR
Global Automotive Collision Repair Market ($ Bn)
Country Share for Europe Region (%)
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Automotive Collision Repair Market Segmental Analysis
The global automotive collision repair market is segmented based on vehicle type, product, service and region. In terms of vehicle type, the market is segmented into light-duty vehicles, and heavy-duty vehicles. Based on product, the market is segmented into paints & coatings, consumables, and spare parts. Based on service, the market is segmented into DIY, DIFM and OE. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Vehicle Type
In 2023, the market was led by the light-duty sector. The segment of light-duty vehicles includes crossovers, SUVs, sedans, and hatchbacks. The need for more fuel-efficient modes of transportation, as well as government programs and the availability of alternative fuel cars, should drive up light-duty vehicle sales in the upcoming years.
Between 2024 and 2030, the heavy-duty vehicle market is predicted to expand at a 1.5% CAGR. Commercial and multi-axle vehicles, such as buses and trucks, are included in the heavy-duty vehicle category. It is expected that bulk products will be transported by heavy-duty vehicles throughout any nation or area. Growing trade is anticipated to increase demand for heavy-duty trucks outfitted with cutting-edge loading and carrying technologies.
Analysis by Product
As of 2023, the spare parts segment holds a 64.0% revenue share, making it the market leader. Crash components, repair materials, additional mechanical parts, restoration materials, and tools are some of the spare parts used in auto repair. The increased need for replacement spare parts is being driven by the growing number of traffic incidents that result in damage to essential components including grilles, bumpers, fenders, dents, and scratches.
From 2024 to 2031, the paints and coatings industry is predicted to develop at the fastest CAGR of 2.7%. The primary driver of the segment's expansion in the automotive industry is the quickly advancing paints & coatings technology, which satisfies the most recent requirements for both aesthetic appeal and protective vehicle materials.
Analysis by Service
In terms of revenue share, the OEM-managed Original Equipment (OE) segment will lead the market in 2023. In contrast, the DIY (Do It Yourself) market is predicted to expand at the quickest rate of 2.5% CAGR between 2024 and 2030. People have been driving their cars for longer lengths of time worldwide, which has increased demand for replacement parts.
DIY kits are the way of the future for the collision repair industry. As a result, a number of businesses have started manufacturing whole kits that provide customers with do-it-yourself options. One of the main reasons for OE's dominance in the market is the growing inclination of customers for warranties.
Global Automotive Collision Repair Market By Vehicle Type
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Automotive Collision Repair Market Regional Insights
In 2022, Europe emerged as the dominant region in the global automotive collision repair market, capturing a significant revenue share of 42.5%. This region is expected to maintain a steady compound annual growth rate (CAGR) over the forecast period. The growth can be attributed to several factors, including the increasing penetration of vehicles equipped with enhanced safety features and a relatively stagnant sales volume. The need for metal part replacements and repairs for damaged plastics is expected to contribute to the growth of the European market.
Asia Pacific is projected to experience the fastest CAGR of 3.6% over the forecast period. The significant growth in the automotive collision repair industry in this region can be attributed to the rising number of vehicle sales. The lack of stringent driving regulations in certain countries within the Asia Pacific region has resulted in an upsurge in vehicular damage, further driving the demand for collision repair services. The Asia Pacific region is seen as a source of components for both local companies and multinational corporations aiming to supply low-cost components to prominent vehicle manufacturers.
Global Automotive Collision Repair Market By Region
- Largest
- Fastest
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Automotive Collision Repair Market Dynamics
Automotive Collision Repair Market Drivers
Increasing Vehicle Sales
- The automotive collision repair market is driven by the overall growth in vehicle sales globally. As the number of vehicles on the road increases, the likelihood of accidents and collisions rises as well, creating a higher demand for collision repair services. In 2022, there was a surge in vehicle sales, particularly in emerging markets such as China and India. For example, China's passenger car sales reached over 21 million units in 2022, driving the demand for collision repair services in the country.
Technological Advancements in Vehicles
- The integration of advanced technologies in vehicles, such as advanced driver assistance systems (ADAS) and safety features, has been a major driver for the automotive collision repair market. These technologies enhance vehicle safety and reduce the likelihood of accidents. However, in the event of a collision, repair and calibration of these systems are required. As a result, collision repair shops need to invest in specialized equipment and training to handle these advanced technologies. The growing adoption of ADAS and safety features in vehicles, including autonomous emergency braking (AEB) and lane departure warning systems, has been driving the demand for collision repair services.
Automotive Collision Repair Market Restraints
Complex Vehicle Technologies
- The increasing complexity of modern vehicles has posed a significant challenge for the collision repair industry. Advanced materials, electronics, and integrated systems require specialized knowledge and equipment for repair and maintenance. Repairing and restoring these complex systems can lead to higher repair costs and longer repair times. Additionally, the shortage of skilled technicians with expertise in handling these advanced technologies further limits the growth potential of the market.
Rising Cost of Automotive Components
- The automotive collision repair market is impacted by the rising cost of automotive components and parts. As vehicles become more technologically advanced, the cost of replacing damaged parts increases. This can significantly affect the overall repair expenses for customers and potentially limit the growth of the market. The increasing cost of specialized components, such as those required for electric vehicles, can further add to the financial burden.
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Automotive Collision Repair Market Competitive Landscape
The global automotive collision repair market is highly competitive in nature, characterized by the presence of several key players striving to gain a significant market share. These companies focus on expanding their service offerings, enhancing their repair capabilities, and establishing a strong network of repair centers to cater to the growing demand for collision repair services. The competitive landscape of the market is shaped by factors such as technological advancements, partnerships, mergers and acquisitions, and investments in research and development. Partnerships and collaborations are also prominent in the competitive landscape as companies seek to leverage each other's strengths. Collaborations with vehicle manufacturers and insurance providers help streamline the repair process, ensuring efficient communication and faster claims processing. Moreover, partnerships with technology companies and equipment suppliers enable access to the latest repair technologies and tools, enhancing the company's capabilities and service offerings.
Automotive Collision Repair Market: Top Player’s Company Profiles
- 3M (US)
- Akzo Nobel N.V. (Netherlands)
- Axalta Coating Systems (US)
- BASF SE (Germany)
- Continental AG (Germany)
- Denso Corporation (Japan)
- DuPont de Nemours, Inc. (US)
- Faurecia SA (France)
- Henkel AG & Co. KGaA (Germany)
- Honeywell International Inc. (US)
- Johnson Controls International plc (Ireland)
- Magna International Inc. (Canada)
- PPG Industries, Inc. (US)
- Robert Bosch GmbH (Germany)
- Saint-Gobain S.A. (France)
- Solera Holdings, Inc. (US)
- Valeo SA (France)
- ZF Friedrichshafen AG (Germany)
- Nexa Autocolor (PPG Industries) (US)
- Sikkens (Akzo Nobel) (Netherlands)
- Soudal (Belgium)
- Sharpline Converting, Inc. (US)
Automotive Collision Repair Market Recent Developments
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In May 2024, Automotive Collision Repair Market Opportunities & Industry Growth Analysis is Expected to Reach USD 238.74 Billion by 2032, to grow at a CAGR of 2.1%
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In May 2024, according to a recent study by AAA, ADAS repair and calibration now account for 36.7% of collision repair activities, highlighting the growing importance of these services in your business model.
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In January 2024, an article was published by ‘Research and Markets’ that states that the global wholesale & distribution automotive aftermarket is expected to reach USD 342.72 billion by 2030, growing at a CAGR of 4.5% from 2023 to 2030, according to the report.
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In June 2022, BASF SE launched a new waterborne basecoat system called "Glasurit 100 Line" that offers improved color accuracy, faster drying time, and reduced energy consumption during the refinishing process.
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In March 2022, Akzo Nobel N.V., a major player in coatings and paints, introduced a new generation of clearcoats with enhanced scratch resistance, aiming to provide improved durability and protection for automotive refinish applications.
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In January 2022, 3M, a leading player in the collision repair market, announced the acquisition of M*Modal's technology business, strengthening its position in the automotive software and technology sector.
Automotive Collision Repair Key Market Trends
- Demand for Electric Vehicle (EV) Repairs: With the growing adoption of electric vehicles, the automotive collision repair market is witnessing an increasing demand for repairs and maintenance specific to EVs. This includes repairs to electric powertrains, battery systems, and charging infrastructure. In 2022, the sales of electric vehicles surged, with notable examples being the Tesla Model 3 and the Nissan LEAF. The rising popularity of EVs is driving the need for specialized collision repair services tailored to these vehicles.
- Adoption of Advanced Repair Technologies: The market is witnessing a trend towards the adoption of advanced repair technologies, such as artificial intelligence (AI), augmented reality (AR), and 3D printing. These technologies are being utilized to streamline repair processes, improve efficiency, and reduce repair times. For example, AI-powered software can assist in accurate damage assessment, while AR technology can facilitate real-time guidance for technicians during repairs. The increasing adoption of these technologies in the automotive collision repair market enhances the overall repair quality and customer experience.
Automotive Collision Repair Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global automotive collision repair market analysis, the large number of vehicles on the road and the frequency of accidents are the key growth drivers. The market analysis also considers factors such as revenue generation, market share of key players, and growth rates over a specific period. Another crucial aspect is identifying the drivers and restraints that affect the market. Drivers are factors that contribute to the market's growth, such as increasing vehicle sales, rising demand for repair services, and technological advancements in vehicles. On the other hand, restraints are factors that hinder market growth, including the complexity of modern vehicle technologies, the rising cost of automotive components, and the shortage of skilled technicians. The market analysis of the global automotive collision repair market involves studying its size, growth potential, drivers, restraints, competitive landscape, and emerging trends. This analysis provides valuable insights for businesses, investors, and industry professionals to understand the dynamics of the market and make informed decisions.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 195.20 Billion |
| Market size value in 2031 | USD 231.23 Billion |
| Growth Rate | 1.90% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Collision Repair Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Collision Repair Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Collision Repair Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Collision Repair Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Collision Repair Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Collision Repair Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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