Asia Pacific Automotive Collision Repair Market Size, Share & Trends Analysis Report By Vehicle (Light-duty Vehicle, Heavy-duty Vehicle), By Product (Paints & Coatings, Consumables), By Service Channels (DIY, DIFM), By Country, And Segment Forecasts, 2024

Asia Pacific Automotive Collision Repair Market Size, Share & Trends Analysis Report By Vehicle (Light-duty Vehicle, Heavy-duty Vehicle), By Product (Paints & Coatings, Consumables), By Service Channels (DIY, DIFM), By Country, And Segment Forecasts, 2024 - 2030

Asia Pacific Automotive Collision Repair Market Growth & Trends

The Asia Pacific automotive collision repair market size is anticipated to reach USD 66.48 billion by 2030, growing at a CAGR of 3.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rapid expansion of automotive ownership in the region and the rising disposable income of people fuel the demand for collision repair services.

Countries such as China and India are witnessing explosive growth in vehicle ownership that correlates with a higher incidence of road traffic accidents. Furthermore, the evolving regulatory environment across the region that emphasizes vehicle safety and environmental standards compels the adoption of professional repair services. According to the Ministry of Road Transport and Highways in India, 461,312 incidents were reported by states and Union Territories (UTs) in 2022, resulting in injuries to 443,366 individuals. The year witnessed a rise of 11.9% in accidents, 9.4% in fatalities, and 15.3% in injuries compared to the figures recorded in 2021.

A shift towards using advanced materials in vehicle manufacturing, such as high-strength steel and aluminum, dictates the need for specialized repair techniques and equipment. Adopting greener repair practices is gaining traction, driven by heightened environmental awareness and regulatory mandates.

Moreover, technological advancements, regulatory changes, and evolving consumer expectations shape the market. As the automotive industry continues to evolve towards a more sustainable, connected, and automated future, the collision repair market is expected to play a vital role in ensuring the vehicles' safety, efficiency, and longevity.

Asia Pacific Automotive Collision Repair Market Report Highlights

• The light-duty vehicle segment accounted for the largest revenue share of 71.1% in 2023 and is expected to continue to grow over the forecast period. The increase in region’s population is fueling the demand for light-duty vehicles in the market.
• The spare parts product segment registered the largest revenue share in 2023 due to the rise in the age of vehicles and an increase in traffic collisions.
• The OE (handled by OEMs) service channel accounted for the largest revenue share in 2023. The rise in consumer preferences regarding the authenticity of the vehicle’s components fuels the demand for OEMs.
• In April 2022, 3M announced the acquisition of LeanTec’s technology assets that provides the digital inventory management solutions for the automotive aftermarket sector. The technology of LeanTec complements 3M’s RepairStack Performance Solutions that helps repair shops to ensure the availability of materials, real-time insights into business performance, and billing processes.

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