Automotive Collision Repair Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and

Automotive Collision Repair Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

According to Fairfield Market Research, the Automotive Collision Repair Services Market achieved a revenue of US$ 142 billion in 2024. The market's growth in 2024 was fueled by advancements in shop technology and servicing equipment. With customers increasingly focused on extending the lifespan and performance of their vehicles, the market is expected to expand at a higher growth rate in the coming years, reaching a total valuation of US$ 220 billion by 2031.

Driving Factors for the Automotive Collision Repair Services Market

The market for automotive collision repair services is experiencing substantial growth due to several key drivers:
• Increasing Young and Educated Customer Base: A rising number of young and educated customers are recognizing the importance of maintenance and repair in enhancing the performance and lifespan of their vehicles. This awareness is driving demand for collision repair services.
• Growth in Vehicle Parc: The expanding vehicle parc worldwide, coupled with a lack of infrastructure development, has led to an increased number of accidents. Consequently, vehicle repair activities have seen significant growth across regions.
• Road Accidents and Vehicle Collisions: The surge in vehicular traffic, rising population, and higher per capita income have contributed to increased road accidents and vehicle collisions. This, in turn, has driven the demand for automotive collision repair services.
• Availability of OEM Parts: The growth of logistics and e-commerce sectors has made original equipment manufacturer (OEM) parts and components readily accessible to customers and service providers. This availability has positively influenced the market.
• Vehicle Insurance: The increasing rate of vehicle insurance, driven by government regulations, has supported market growth. Vehicle owners with insurance are more inclined to repair their vehicles after accidents.

Country-wise Analysis

United States: Leading in the Aftermarket for Automotive Parts

The United States holds a prominent share in the global market, with approximately 85% of sales generated from the North American market. The country's high rate of road accidents, with around 13 car accidents occurring every minute according to the U.S. Bureau of Labor Statistics, has contributed significantly to the demand for collision repair services. Moreover, the presence of over 40,000 collision repair shops in the U.S. further fuels market growth. Key players in the market are expanding their networks of authorized repair shops, driving market expansion in the country.

China: A Lucrative Market for Automotive Collision Repair Services

China, a hub for the automotive industry, offers a highly profitable market for automobile part manufacturers, suppliers, and service providers. Despite a slowdown in new vehicle sales in recent years, the collision repair services market in China continues to experience incremental growth. This growth is attributed to the presence of a large and aging vehicle fleet in the country.

Competitive Landscape

The automotive collision repair services market operates in a perfectly competitive environment, with an excess supply from global players. The market is highly fragmented, with small- and medium-sized players accounting for over 70% of the global market share. Recent years have seen market participants adopt expansion strategies, including acquisitions, mergers, and collaborations. Industry participants are also introducing innovative growth strategies, such as offering subscription-based maintenance services to customers.

Key Companies Profiled
• 3M
• Service King
• BASF
• Robert Bosch
• Gerber Collision & Glass
• Continental AG
• AMM Collision
• Abra Auto Body & Glass
• Honeywell International Inc.
• Denso Corporation
• Others

Key Segments Covered in Automotive Collision Repair Services Market

By Vehicle Type
• Passenger Vehicles
• Light Commercial Vehicles
• Heavy Commercial Vehicles

By Service Provider
• Independent Repair Shops
• Franchised Repair Shops
• Authorized Repair Shops

By Product Type
• Parts and Components
• Paints and Coatings

By Region
• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

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