Automotive Collision Repair Market is expected to augment the demand for heavy-duty vehicles

Automotive Collision Repair Industry Overview

The global automotive collision repair market size is expected to reach USD 220.12 billion by 2028, according to a new study by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 2.1% from 2021 to 2028. 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.

 

Automotive Collision Repair Market Segmentation

Grand View Research has segmented the global automotive collision repair market based on product, vehicle type, service channel, and region:

 

Based on the Product Insights, the market is segmented into Paints & Coatings, Consumables, and Spare Parts.

• The paints and coatingssegment is expected to expand at the fastest CAGR of 2.6% over the forecast period. The paints & coatings segment includes colored paints & scratch-resistant coatings, coatings for plastic parts, vehicle topcoats, electrodeposition coatings, and glass coatings.
• In terms of market size, the spare parts segment dominated the automotive collision repair market with a revenue share of 64.3% in 2020. The spare parts used in the automobile service delivery include crash parts, repair materials, supplementary mechanical parts, restoration materials, and tools.

 

Based on the Vehicle Type Insights, the market is segmented into Light-duty Vehicles and Heavy-duty Vehicles.

• The heavy-duty vehicles segment includes commercial and multi-axle vehicles such as trucks and buses. Heavy-duty vehicles are anticipated to be used for the transportation of bulk products within any country or region. Increasing trade activities is expected to augment the demand for heavy-duty vehicles equipped with the latest technologies for hauling and loading.
• In terms of market size, the light-duty vehicle segment dominated the market with a share of 71.5% in 2020. The segment is expected to expand at the fastest CAGR of 2.1% over the forecast period. The light-duty vehicles segment comprises hatchbacks, sedans, SUVs, and crossover cars.

 

Based on the Service Channel Insights, the market is segmented into Do-It-Yourself (DIY), Do-it-for-Me (DIFM) and Original Equipment (OE).

• In terms of market size, OE (handled by OEM’s) segment held the dominant revenue share of 56.8% in 2020.
• The do-it-yourself (DIY) segment is expected to expand at the fastest CAGR of 2.8% over the forecast period. Globally, people have been retaining their car usage for longer periods, which has supported the demand for replacement parts. The DIY segment is expected to register the highest CAGR in the Asia Pacific region over the forecast period, followed by South America.

 

Automotive Collision Repair Regional Outlook

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

 

Key Companies Profile & Market Share Insights

The key players offering exclusive automotive aftermarket products and supplies for automotive collision repair service centers.

Some prominent players in the global automotive collision repair market include

• 3M
• Automotive Technology Products LLC (ATP.) (a 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

 

Order a free sample PDF of the Automotive Collision Repair Market Intelligence Study, published by Grand View Research.