What New Insights Does the Latest Data on Automotive Collision Repair Market Size Offer?
The automotive collision repair market size has demonstrated consistent growth in recent years. Market value stood at $208.85 billion in 2024 and is projected to rise to $216.41 billion in 2025, showing a compound annual growth rate (CAGR) of 3.6%. The growth during the past few years can be attributed to the increasing number of vehicles on the road, the rising number of accidents, growing demand for vehicle customization, advancements in technology resulting in more complex vehicles, and increased disposable income prompting willingness to spend on vehicle repairs.
The automotive collision repair market is forecasted for solid growth in the future, with a projection to reach $270.44 billion in 2029 at a compound annual growth rate (CAGR) of 5.7%. The forecasted growth is due to factors such as growing demand for electric vehicles, rising adoption of advanced driver assistance systems (ADAS), increased demand for lightweight materials in vehicle manufacturing, popularity surge in ride-sharing services, and escalating attention on vehicle safety and regulations.
Get the latest insights – grab your free sample of The Global Automotive Collision Repair Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7168&type=smp
What Drivers are Propelling the Automotive Collision Repair Market Forward?
One of the key driving factors of the automotive collision repair market is the rise in the number of automobile insurance subscriptions. The uptrend in automobile insurance subscriptions has influenced automotive collision repair companies to continually improve their services and products to meet customer demands. For instance, according to a 2022 article by PolicyAdvice, 87% of US drivers have automobile insurance, indicating a market growth of 2.7% over the past five years. Furthermore, a 2021 report by Care, an Indian rating agency, forecasted a rise in motor insurance in 2022 with motor insurance premiums expected to grow by 6% to 8% in 2022. Thus, a boost in automobile insurance subscriptions is anticipated to stimulate demand for automotive collision repair services.
What Are the Key Segments in the Automotive Collision Repair Market?
1) By Product: Crash Parts, Paints And Coatings, Adhesives And Sealants, Abrasives, Finishing Compounds, Other Products
2) By Service Channel: DIY, DIFM, OE
3) By Automotive Component Shop: Authorized Repair Shops, Independent Garage
4) By Vehicle Type: Passenger Vehicles, Light Commercial Vehicles
Swiftly access the comprehensive data you need – Place your order for the report now:
https://www.thebusinessresearchcompany.com/report/automotive-collision-repair-global-market-report
Who Are the Major Players in the Automotive Collision Repair Market?
The automotive collision repair market features numerous leading companies, including 3M Company, Automotive Technology Products LLC, Denso Corporation, Faurecia India Private Limited, International Automotive Components Group LLC, Caliber Collision Centers Inc., Service King Collision Repair Centers Inc., ABRA Auto Body & Glass LP, Gerber Collision & Glass LLC, Maaco Collision Repair & Auto Painting, CARSTAR Auto Body Repair Experts, Boyd Autobody & Glass, Fix Auto USA, ProColor Collision, Sterling Collision Centers Inc., Classic Collision Inc., 1Collision Network, Crash Champions LLC, Craftsman Collision, and Herb’s Paint & Body.
What Emerging Trends Are Shaping the Automotive Collision Repair Market Landscape?
An emerging trend in the automotive collision repair market is the utilization of 3D printing technology. Companies in the auto-repair market are adopting 3D printing tools to maintain their market position and deliver superior services to their customers. For instance, in January 2022, organizations from Germany and Canada initiated a new consortium for automating repair processes using 3D printing and artificial intelligence. The project, named Artificial Intelligence Enhancement of Process Sensing for Adaptive Laser Additive Manufacturing (AI-SLAM), shows the potential of 3D technology in the industry.
Which Region Leads the Automotive Collision Repair Market?
In 2024, the Western Europe region was the largest in the automotive collision repair market. Asia-Pacific, however, is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive collision repair market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What is the Automotive Collision Repair Market All About?
Automotive collision repair involves the process of repairing damages in cars and other vehicles caused by accidents, weather, and other incidents. Maintained and often delivered by trained automotive technicians, collision repair includes removing dents, scratches, replacing glass, paint, and other parts of a vehicle. The automotive collision repair market focuses on fixing damaged parts and bodies of cars and other vehicles.
Witness an up-close view of the market outlook, purchase the detailed report:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=7168
About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
