Automotive collision repair market may exceed USD 310 billion by 2027. This can also be subjected to robust developments by OEMs to improve vehicle maintenance and service quality. Independent repair shops are meanwhile set to record the largest market share owing to their ability to service vehicles of multiple brands.
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The demand for vehicle touchups and restorations have increased significantly over recent years. Rising cases of road accidents and mishaps have contributed to surge in product demand. An increase in customer preference to restore vehicles to factory offered pre-collision finish is expected to stir the growth of the paints & coatings segment, with an projected 3.5% CAGR by 2026. Rise in traffic congestions across urban areas may result in potential vehicle dents & scratches, further inducing the demand for paint touchups.
Shifting interest towards developing environmentally-friendly collision repair products is projected to drive the growth of the recycled segment, with an estimated CAGR of around 3% by the forecast period. Increasing environmental concerns has directed the focus of companies towards using advanced tools and technologies to develop recycled products. According to Recycling Partnership’s State of Curbside Recycling 2020 report, an estimated 1.6 billion pounds of PP is expected to be available per year from single-family homes that can be recycled into products like automotive parts.
Europe automotive collision repair market size is likely to register a steady CAGR of over 2.5% during the forecast timeframe. Presence of renowned automotive giants like Volkswagen, BMW, and Daimler, among others has significantly supported the region’s automobile sector. In 2019, BMW and MINI announced a partnership with OEConnection LLC (OEC), enabling their dealer networks to get competitive pricing on eligible OE parts and facilitate their parts marketing programs from the CollisionLink body shop network. Nevertheless, imposition of stern road safety laws across Western Europe may limit the cases of road accidents, negatively impacting the demand for automotive collision repair parts.
The automotive collision repair market is poised to grow remarkably by 2027 owing to factors like increasing number of road accidents and higher road density. Rise in passenger car repairs is estimated to be one of the key determinants for overall market growth. The need to offer better repair services has encouraged companies to introduce new, technologically advanced products and services. In 2020, The Society of Collision Repair Specialists announced the availability of its award winning software ‘Blueprint Optimization Tool’ for repairers. The tool will allow collision repair service providers to automatically apply the SCRS guide to estimate and identify overlooked items.
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Partial Chapter of the Table of Content
Chapter 5 Automotive Collision Repair Market, By Vehicle
5.1 Automotive collision repair market share by vehicle, 2020 & 2027
5.2 Passenger Cars
5.2.1 Market estimates and forecast, 2017 - 2027
5.2.2 Market estimates and forecast, by region, 2017 - 2027
5.3.1 Market estimates and forecast, 2017 - 2027
5.3.2 Market estimates and forecast, by region, 2017 - 2027
5.4.1 Market estimates and forecast, 2017 - 2027
5.4.2 Market estimates and forecast, by region, 2017 - 2027
5.5 Two Wheelers
5.5.1 Market estimates and forecast, 2017 - 2027
5.5.2 Market estimates and forecast, by region, 2017 - 2027
Chapter 6 Automotive Collision Repair Market, By Source
6.1 Market share by source, 2020 & 2027
6.2 New OEM
6.2.1 Market estimates and forecast, 2017 - 2027
6.2.2 Market estimates and forecast, by region, 2017 - 2027
6.3.1 Market estimates and forecast, 2017 - 2027
6.3.2 Market estimates and forecast, by region, 2017 - 2027
6.4.1 Market estimates and forecast, 2017 - 2027
6.4.2 Automotive collision repair market estimates and forecast, by region, 2017 - 2027
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