Automotive Collision Repair Market Size and Forecast 2024-2033|3M Company, Automotive Technology Products LLC, Denso Corporation, Faurecia India Private Limited, International Automotive Components Group LLC

Overview and Scope

Automotive collision repair refers to the process when a trained automotive technician fixes damages in cars and other vehicles that are caused by accidents, weather, and other incidents. Collision repair includes the removal of dents, scratches, and replacement of glass, paint, and others. The automotive collision repair is used for fixing the damaged parts and bodies of cars and other vehicles.

Sizing and Forecast

The automotive collision repair market size has grown steadily in recent years. It will grow from $202.76 billion in 2023 to $210.85 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The growth in the historic period can be attributed to increasing number of vehicles on the road, rising number of accidents, growing demand for vehicle customization, advancements in technology leading to more complex vehicles, increasing disposable income and willingness to spend on vehicle repairs.

The automotive collision repair market size is expected to see steady growth in the next few years. It will grow to $254.84 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to growing demand for electric vehicles, increasing adoption of advanced driver assistance systems (adas), rising demand for lightweight materials in vehicle manufacturing, growing popularity of ride-sharing services, increasing focus on vehicle safety and regulations. Major trends in the forecast period include use of augmented reality for repair diagnostics, adoption of sustainable and eco-friendly repair practices, growth in mobile and on-demand repair services, integration of 3d printing for replacement parts, emphasis on training and certification for repair technicians.

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Segmentation & Regional Insights

The automotive collision repair market covered in this report is segmented –

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

Western Europe was the largest region in the automotive collision repair market in 2023. Asia-Pacific 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, Africa

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Major Driver Impacting Market Growth

The rise in the number of subscriptions to automobile insurance is expected to propel the automotive collision repair market going forward. Automobile insurance refers to motor insurance that provides cover for loss or damage to the insured person’s vehicle such as cars, two-wheelers, or any other commercial vehicles. The rise in the number of subscriptions to automobile insurance compels automotive collision repair companies to come up with better services and products for their customers. For instance, according to an article by PolicyAdvice, an American website that provides insurance information in 2022 said that, 87% of US drivers have car insurance and the market has grown by 2.7% on an average over the past five years. Another report by Care, an Indian rating agency, in 2021 said that motor insurance is set to rise in 2022 and motor insurance premium is to grow by 6% to 8% in 2022. Therefore, an increase in the number of subscriptions to automobile insurance is expected to boost demand for automotive collision repair during the forecast period.

Key Industry Players

Major companies operating in the automotive collision repair market report are 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, Herb’s Paint & Body, Precision Collision Center, PDR Autoworks, Pacific Elite Collision Centers, Dent Wizard International Corporation, Boyd Group Inc., Dent Doctor, Caliber Auto Care, Joe Hudson’s Collision Center, VIVE Collision, Puget Collision LLC

The automotive collision repair market report table of contents includes:

1. Executive Summary

2. Automotive Collision Repair Market Characteristics

3. Automotive Collision Repair Market Trends And Strategies

4. Automotive Collision Repair Market – Macro Economic Scenario

5. Global Automotive Collision Repair Market Size and Growth

26. South America Automotive Collision Repair Market

27. Brazil Automotive Collision Repair Market

28. Middle East Automotive Collision Repair Market

29. Africa Automotive Collision Repair Market

30. Automotive Collision Repair Market Competitive Landscape And Company Profiles

Top Major Players: