Automotive Collision Repair Services Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The global automotive collision repair services market is anticipated to grow at a CAGR of nearly 2.6%during the forecast period (2022-2028).The major factor expected to drive the market growth is the increase in the age of an average vehicle, increasing sales of automotive cars, and rising adoption of automotive insurance. Furthermore, increases in the rates of vehicle ownership and the glossy appearance and superior glaze that are offered by finished compounds are supporting to accelerate the market growth. The rising consumer spending on luxury and comfort goods is shifting customer preferences toward personally-owned vehicles that is further boosting the global automotive collision repair service market during the forecast period. In addition, increasing light-duty vehicles and powder coatings demand, high automotive production and supporting infrastructure, and rising two-wheeler demand in developing countries will further drive the growth of the market. Moreover, increasing demand for automotive coatings and rising sales of vehicles, advanced tools and technology development across the region are some factors boosting the market growth.

Some major players in the market include3M Co., Denso Corp., and Service King Collision Repair Centers, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in June 2020, Penfund announced that the company completed its first lien debt investment in Caliber Collision Centers a part of the caliber family of companies, a prominent player in the auto collision repair industry. Further, it is added that the funding is set to be utilized for general corporate purposes.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Product
  • By Vehicle
  • By Source
  • By Auto Body Shops
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

• Competitive Landscape-3M Co., Denso Corp., and Service King Collision Repair Centers, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Automotive Collision Repair Services Market Report by Segment

By Product

• Crash Parts
• Paints & Coatings
• Adhesives & Sealants
• Abrasives
• Finishing Compounds
• Others

By Vehicle

• Passenger Cars
• LCV (Light Commercial Vehicle)
• HCV (Heavy Commercial Vehicle)
• Two-Wheelers

By Source

• New OEM
• Aftermarket
• Recycled
• Remanufactured

By Auto Body Shops

• Dealer-Owned Shops
• Independent Repair Shops