According to the latest report by IMARC Group, titled “Automotive Collision Repair Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the automotive collision repair market trends. The report also includes competitor and regional analysis, and contemporary advancements in the market.
Year considered to estimate the market size:
• Base year of the analysis: 2021
• Historical period: 2016-2021
• Forecast period: 2022-2027
The global automotive collision repair market reached a value of US$ 185.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 212.6 Billion by 2027, exhibiting a CAGR of 2.39% during 2022-2027.
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Market Outlook:
Automotive collision repair (ACR) refers to procedures performed to restore and replace the damaged or dented sections of vehicles post-accident. It involves realigning the paneling and painting and refinishing several structural or cosmetic components of automobiles, including bumpers, glass windows, and car doors. Various products are utilized in the repairing process, such as paints and coatings, spare parts, refinishing tools, and other consumable materials.
The employment of ACR in commercial and passenger vehicles helps prevent unfixed damages that could cause irreparable issues and restore the appearance of the automobile. Apart from this, the repairing process is carried out by original equipment manufacturers (OEMs) and aftermarkets while strictly adhering to the stringent safety and tolerance requirements.
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| Automotive Collision Repair Market Report 2022-2027 |
Market Trends:
The increasing number of road accidents and collisions across the globe is primarily driving the ACR market growth. Moreover, the rapid expansion in the automotive industry and the increasing demand for hybrid vehicles have propelled automobile repairers to utilize modern ACR equipment and techniques to diagnose vehicle issues.
Additionally, the growing population, fueling disposable incomes, and the rising number of car insurance subscriptions due to the availability of premium policies at reasonable prices are supporting the market growth. Furthermore, the employment of three-dimensional (3D) printing technology to manufacture complex automotive components and prototypes and the launch of do-it-yourself (DIY) kits are fuelling the market growth.
Besides this, the implementation of various government regulations regarding vehicle maintenance and passenger safety and the escalating uptake of e-commerce platforms are positively impacting the market growth.
Automotive Collision Repair Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the global automotive collision repair market has been studied in the report with the detailed profiles of the key players operating in the market.
List of Key Companies Covered in this Market Report:
- 3M Company
- Automotive Technology Products LLC
- Caliber Collision
- Continental AG
- Denso Corporation
- DuPont de Nemours Inc.
- Eastman Chemical Company
- Faurecia SE
- Honeywell International Inc.
- IAC Group
- Magna International Inc.
- Robert Bosch GmbH
- Tenneco Inc.
Key Market Segmentation:
The report has segmented the global automotive collision repair market on the basis of product type, service channel, vehicle type and region.
Breakup by Product Type:
- Paints and Coatings
- Consumables
- Spare Parts
Breakup by Service Channel:
- OEMs
- Aftermarket
- Others
Based on Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles (LCVs)
- Heavy Commercial Vehicles (HCVs)
- Two Wheelers
Based on Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Explore Report Description with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=4452&flag=C
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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