Global Automotive Collision Repair Market, Drivers, Restraints, Opportunities, Threats, Trends, Applications, And Forecast To 2029

                                          
Global Automotive Collision Repair Market 2021: By Product Type (Paints & Coatings, Consumables, Spare Parts), By Service Channel (Do-It-Yourself (DIY), Do-It-For-Me (DIFM), Original Equipment (OE), By Vehicle Type (Light-duty Vehicle, Heavy-duty Vehicle)

Global Automotive Collision Repair Market is a report title, and the target market is currently being tracked and studied at Trusted Business Insights. Various data and information regarding the global automotive collision market will be presented in the report. In order to prepare the report, an exhaustive range of parameters and aspects, as well as scenarios and factors, are considered. Future scenarios and probabilities are examined and analyzed based on current scenarios before concluding and confidently presenting the results. In addition, the report includes verified information and data gathered from experts in the field. Exhaustive primary and secondary efforts are conducted to support well informed and intelligent conclusions in the report. The report provides insights into restraints, growth factors, major trends future forecast & opportunities, and Y-O-Y growth. The company profile section includes operating segments, the details of key players, company details, geographic footprint, revenue and financials, and contact details. The report also includes acquisitions, recent developments, effective strategies, and mergers, etc. The global automotive collision repair market is segmented on the basis of product type, service channel, vehicle type, and region.

The Global Automotive Collision Repair market size was valued at USD $207.24 Billion in 2020, USD $211.87 Billion in 2021, forecasted to reach  USD $216.59 Billion in 2022, and is projected to reach USD $259.21 Billion by 2030, and is anticipated to expand at a CAGR of 2.23% over the forecast period from 2020 to 2030.

Product Overview

Automotive collision repair market consists of various repair services and other materials used for maintaining and restoring ruined components or parts of vehicles after sustaining damage due to accidents or other reasons. Collision repair services include the programs or needed skills such as body alignment, welding techniques, finishing, and painting to get vehicles back on the road. Automotive collision repair services are provided by company-owned outlets or local shops. Some factors driving growth of the global automotive collision repair market include increasing number of natural calamities and vehicle accidents. In addition, rising volume of accident claims, insurance cover, and advancements in technologies of all automotive repair services and equipment have also been driving growth of the global automotive collision repair market.

Market Dynamics

Growth of the global automotive collision repair market depends upon growth of the global automotive market. Along with rising number of road accidents, stringent automobile regulations and standards are also driving growth of the global automotive collision repair market. Developments in the global automotive sector in the fields of electric and hybrid cars is expected to further support demand for automotive collision repair services in the global automotive collision repair market during the forecast period. In addition, technological advancements and recent development of various innovative repair techniques such as 3D printing of automotive parts are projected to support growth of the global automotive collision repair market. 3D printing technology is being deployed by key players in the market as it is cost-effective and significantly reduces toxic emissions. Another major factor driving demand for automotive repair services in the global automotive collision repair market is growing adoption of various alternative fuel vehicles. The US government recently implemented numerous initiatives that support use and sales of various vehicles such as trucks and cars, in which natural gas and hydrogen are used to generate propulsion. Among some of the other factors expected to fuel growth of the global automotive collision repair market during the forecast period is research undertaken by various manufacturers to diversify and customize products.

Global Automotive Collision Repair Market Segment Analysis:

Product Type: Among the product type segments, the paints & coatings segment accounts for highest revenue share currently, and is expected to continue its dominance over the forecast period. This growth is attributed to the wide use of paints & coatings in the global automobile industry, and it is a component necessary to restore the original look to vehicles after accidental damages.
Service Channel: Among the service channel segments, the Do-It-For-Me (DIFM) segment accounts for highest revenue share currently, which is expected to continue during the forecast period.

Global Automotive Collision Repair Market Regional Analysis:

The automotive collision repair market in Asia Pacific accounts for significantly high revenue share currently, and this trend is expected to continue over the forecast period. This growth is attributed to stringent driving regulations and use of low-cost components to manufacture vehicles in countries in the region.

Below are the leading companies profiled in this Automotive Collision Repair Market Report:

  
3M
  
ATP Automotive
  
Automotive Technology Products LLC (ATP.) (a subsidiary of Lodi Group of Monterrey)
  
Caliber Collision Centers
  
Continental AG
  
Denso Corporation
  
DuPont de Nemours Inc.
  
Eastman Chemical Company
  
Faurecia
  
Federal-Mogul LLC
  
Henkel AG & Co. KGaA
  
Honeywell International, Inc.
  
Huntsman Corporation
  
International Automotive Components Group
  
Johnson Controls, Inc.
  
Magna International, Inc.
  
Martinrea International, Inc.
  
Mirka Ltd.
  
Mitsuba Corporation
  
Robert Bosch GmbH
  
Saint-Gobain
  
Sika AG
  
Takata Corporation
  
Valeo
  
Wacker Chemie AG
  
ZF Friedrichshafen AG

Global Automotive Collision Repair Market Segmentation:

By Product Type

  
Paints & Coatings
  
Consumables
  
Spare Parts

By Service Channel

  
Do-It-Yourself (DIY)
  
Do-It-For-Me (DIFM)
  
Original Equipment (OE)

By Vehicle Type

  
Light-duty Vehicle
  
Heavy-duty Vehicle
This research comprehensively answers the following 9 important questions:

  
Q.1. What are some of the most promising growth trends in the Automotive Collision Repair market worldwide?
  
Q.2.Which segments and sub-segments will grow at a faster pace and why? Which segment is nearing the peak and demand saturation?
  
Q.3.Which region will witness a higher growth rate and why? Which region might see a slower or negative growth region?
  
Q.4.What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in Automotive Collision Repair market?
  
Q.5.What are the business risks and who pose challenges to the global leaders and are competitive threats in this Automotive Collision Repair market?
  
Q.6.What are the emerging trends post COVID-19 reshuffle in this Automotive Collision Repair market and the what are reasons behind these trends and do they translate in global exploration?
  
Q.7. Who are the major global and regional players in the Automotive Collision Repair market? Which are the strategic initiatives key players are pursuing for business growth?
  
Q.8.Which are the competing products in Automotive Collision Repair market and how big of a threat do they pose for loss of market share by material or product substitution?
  
Q.9.What M & A activity has occurred in the last 5 years and what is its impact on the Automotive Collision Repair industry?