Global Automotive Collision Repair Services Market Set to Register at CAGR 3.4% During 2020–2026

Global Automotive Collision Repair Services Market

Report Overview – 

Global Automotive Collision Repair Services market Will Attain a Value of 181.52 (USD Billion) in 2022 and is set to record a CAGR of about 3.4% over the period from 2022 to 2028. Global Automotive Collision Repair Services Market – By Workshop Type (Authorized Garage And Independent Garage), By Vehicle Type (Light Commercial Vehicle, Passenger Vehicle, And Heavy Commercial Vehicle), By Service Type (Paints, Parts, And Repair), And By Region – Industry Perspective, Comprehensive Analysis, Size, Share And Forecast, 2022 – 2028

Customer preferences are trending toward personally owned automobiles as consumer spending on luxury and comfort goods rises. To service a bigger number of customers, automobile manufacturers are focusing on product differentiation and alliances with foreign players. The number of vehicles in use has increased due to the growing fleet of commercial vehicles as a result of increased trade activity. The market demand will be driven by the availability of state-of-the-art automotive repair & service facilities with modern repair procedures for painting, denting, and body repair. Automotive collision repair services encompass repairs, denting, replacement, painting, and refurnishing accidentally damaged vehicles. Besides, it helps in offering Quality of products coupled with warranty services.

Customers are helped by the companies, which range from repairing and diagnosing vehicle problems to providing and servicing preventative maintenance. Furthermore, clients are frequently concerned about their vehicles following a collision and are unable to obtain low-cost specialist services. Furthermore, auto collision repair companies are outfitted with cutting-edge equipment and staffed by professionals in the field. Automotive collision repair services have some drawbacks, such as improving vehicle safety, maintaining vehicle value, lowering company costs, and so on.

Global Automotive Collision Repair Services Market
Global Automotive Collision Repair Services Market

Impact of COVID-19 –

The automotive and transportation industries are one of the most vulnerable sectors to the ongoing COVID-19 outbreak, and they are currently experiencing unprecedented uncertainty. COVID-19 is likely to have a substantial impact on the automobile industry’s supply chain and product demand. The industry’s concern has shifted from disruptions in China’s supply chain to a general drop in demand for aftermarket repair goods. With all non-essential services shut down, demand for commercial vehicle parts is projected to fall.

Furthermore, changes in consumer purchasing behaviour as a result of the pandemic’s uncertainty could have a significant impact on the industry’s near-term growth. Meanwhile, market participants have already been hampered by a liquidity shortage and cash constraint, which is projected to worsen in the coming months. Furthermore, consumers are predicted to choose private transportation in the aftermath of the pandemic. However, due to budget limits, commuters are likely to opt for repaired parts rather than purchasing new parts due to financial discrepancies. Increased sales of repaired parts are predicted to drive up demand for low-cost vehicle maintenance parts. On a larger scale, the epidemic is projected to prompt some entry-level car collision repair players to resurface in developing countries. The market is also projected to fluctuate based on demand from various consumer categories, as each class section has its own preferences for car repair and maintenance.

The global automotive collision repair services market is Segmented on the basis of service type, workshop type, vehicle type, and regional analysis. Based on the service type, the market is divided into paints, parts, and repair. Based on the workshop type, the market is divided into authorized garage and independent garage. Based on the vehicle type, the market is divided into light commercial vehicle, passenger vehicle, and heavy commercial vehicle.

Regional scope –

  • North America (The U.S., Canada)
  • Europe ( France, The UK, Spain, Germany, Italy, Rest of Europe )
  • Asia Pacific (China, Japan, India, South Korea, Southeast Asia, Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Middle East & Africa (GCC, South Africa, Rest of Middle East & Africa)

Market Drivers

  • Increasing Incidence of Accidents in Developed Countries
  • Rising Growth of Automobile Sales
  • Increase Availability of Insurance, Claims for the Expansion of Repair Methods

Market KeyPalyers –

  • Automotive Technology Products LLC
  • Robert Bosch GmbH
  • Continental AG
  • Denso Corporation
  • Federal-Mogul LLC
  • Henkel AG&Co.
  • KGaA
  • Honeywell International, Inc.
  • 3M, Johnson Controls, Inc.
  • DuPont
  • BASF
  • ZF Friedrichshafen
  • Caliber Collision.
Hi, I’m Myrna Bailey