Global Automotive Collision Repair Market to Reach $261.3 Billion by 2030
The global market for Automotive Collision Repair estimated at US$200.1 Billion in the year 2023, is expected to reach US$261.3 Billion by 2030, growing at a CAGR of 3.9% over the analysis period 2023-2030. Spare Parts, one of the segments analyzed in the report, is expected to record a 4.2% CAGR and reach US$173.2 Billion by the end of the analysis period. Growth in the Paints & Coatings segment is estimated at 3.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $53.7 Billion, While China is Forecast to Grow at 5.3% CAGR
The Automotive Collision Repair market in the U.S. is estimated at US$53.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$51.1 Billion by the year 2030 trailing a CAGR of 5.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 3.4% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$33 Billion by the year 2030.
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