Global Automotive Collision Repair Market By Product Type (Paints & Coatings, Consumables, and Spare Parts), By Service Channel (DIY, DIFM, and OE), By Vehicle Type (Light-duty Vehicle, and Heavy-duty Vehicle), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Automotive Collision Repair Market Overview:

In 2021, the global automotive collision repair market was worth USD 191,218 million. The market is expected to grow at a CAGR of 3% between 2023 and 2032.

Market growth is expected to be driven by the increase in automobile insurance subscriptions and technological advances in the automotive sector.

The global market is seeing an increase in vehicle damage from accidents. This directly impacts the revenue generated. Do-it-yourself kits are sold by many automobile retailers to customers who want to fix their cars themselves. This trend can be seen in many suburbs of South America and the Asia Pacific.

Global Automotive Collision Repair Market Scope:

Product Type Analysis

With a 65.4% revenue share in 2021, the spare parts market dominated the automotive collision repair industry. The fastest growing segment in the paints & coatings market is 3.7%. Automotive service delivery includes spare parts such as crash parts, repair materials, and supplementary mechanical parts. Paints & coatings include colors & scratch-resistant coatings and coatings for plastic parts. It also includes vehicle topcoats, electrodeposition coats, and glass coatings.

Due to rising environmental concerns about the use of harmful synthetic coatings and other refinishing materials, more people are using environmental coatings. The paints and coatings market is expected to see higher adoption in high-volume markets during the forecast period. The key driver for the rapid growth of the paints and coatings market in the automotive sector is the rapidly evolving coatings and paints technology. These materials are both aesthetic and protective.

Service Channel Analysis

The OE segment (managed by OEMs), held 57.6% of the market share in 2021. Over the forecast period, the do-it-yourself (DIY), segment will grow at the fastest CAGR rate of 3.9%. People have been keeping their cars for longer periods of time, which has supported the need for replacement parts. This is due to the strong demand from emerging economies. The market will continue growing. Over the forecast period, the DIY segment will register the highest CAGR. South America is next.

In North America, this segment accounted for the largest market share in 2021 due to the increased growth of countries like Canada and the U.S. Many companies are now producing complete kits to provide DIY solutions for their customers.

Federal-Mogul Holdings’ DIY segment generated the most revenue in 2021. One of the main reasons OE is a dominant market player is the increased demand for warranties. OEMs can offer better product performance, longer product lifecycles, reliability, and greater overall product quality. Over the forecast period, OEMs will be able to consolidate their market position.

Vehicle Type Analysis

The market was dominated by the light-duty segment, which accounted for 72.7% of the total market in 2021. This segment is forecast to grow at a 3.2% CAGR over the forecast period. Light-duty vehicles include hatchbacks and sedans as well as SUVs and crossovers. Heavy-duty vehicles include multi-axle commercial vehicles, such as buses and trucks.

The transportation of bulk goods within any country or region is possible with heavy-duty vehicles. The demand for heavy-duty vehicles with the most up-to-date technology for loading and hauling is expected to rise due to increased trade activities.

Over the forecast period, light-duty vehicle sales will increase due to increased demand for alternative transportation options and government initiatives to improve fuel economy. The adoption of alternative fuels and vehicles that have multiple levels of drivetrain electrification is expected to increase vehicle sales.

Кеу Маrkеt Ѕеgmеntѕ

By Product Type

• Consumables
• Spare Parts
• Paints & Coatings

By Service Channel

• DIY
• OE
• DIFM

By Vehicle Type

• Heavy-duty Vehicle
• Light-duty Vehicle

Market Dynamics:

OEMs have created multiple channels for distributing their parts to different service departments. This is due to the rising demand for hybrid and electrical cars. This will increase the need for automotive collision repair. The vehicle owner must also be notified that warranties for non-OEM or nonstandard parts are not provided by the vehicle manufacturer but by the distributor or manufacturer.

These companies offer support to customers, from diagnosing and repairing problems on vehicles to providing preventative maintenance. Customers are often worried about their vehicles after a collision, and they cannot afford specialist services. Auto collision repair shops have modern equipment and are staffed with collision repair specialists. Automotive collision repair services can have disadvantages like a higher safety level, a lower cost for the company, and maintaining the vehicle’s value.

Organizations have benefited from technological advances. Digitalization has also allowed us all to have a more personal service, faster delivery, and immediate access to support. It is not difficult to become comfortable with digitalization. A collision repair specialist can inspect and repair your vehicle.

A collision repair specialist will find a way to reduce the damage and cost. The collision repair specialist is also used to diagnose the problems of vehicles and provide the best possible solution using new parts.

Regional Analysis

Europe was the dominant market in terms of market size with a 44.7% revenue share in 2021. Asia Pacific is projected to grow at a 4.2% CAGR over the forecast period. An increase in vehicle sales is driving significant growth in the automotive collision repair sector.

The region’s market growth is also being driven by an increase in vehicle damage caused by the absence of strict driving regulations in the Asia Pacific region. Local companies and multinationals see the region as a source of components that can be used to make high-quality components for prominent automobile manufacturers.

In 2021, Europe was the region with the highest revenue share. This region will see a steady CAGR during the forecast period due to increased safety features in vehicles and stagnated sales. North America will experience a similar pattern of growth. The increasing penetration of electric and hybrid vehicles is expected to increase the overall market demand during the forecast period.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Affordable collision repair app launched by 3M Automotive Aftermarket Division in 2018. The collision repair app was created to assist technicians as well as distributors in getting all the information that they need about collision repair.

Digitization also allows car owners and agents to see the auto shop’s repair and replacement costs. Digitization has enabled transparency in the delivery of auto maintenance and repair services. The following are some of the major players in the global automotive collision market:

Маrkеt Кеу Рlауеrѕ:

• The 3M Company
• Automotive Technology Products LLC
• Continental AG
• Denso Corporation
• Faurecia
• Federal-Mogul LLC
• Honeywell International, Inc.
• International Automotive Components Group
• Johnson Controls, Inc.
• Magna International Inc.
• Other Key Players

For the Automotive Collision Repair Market research study, the following years have been considered to estimate the market size: