June 21, 2024

InfoTrace

The value of truth

Rapid Growth of Global Automotive Collision Repair Market Driven by Increasing Demand and Innovations

3 min read

Company Logo

Global Automotive Collision Repair Market

Global Automotive Collision Repair Market

Global Automotive Collision Repair Market

Dublin, July 12, 2023 (GLOBE NEWSWIRE) — The “Automotive Collision Repair Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.

According to the report, the global automotive collision repair market grew from $196.41 billion in 2022 to $206.35 billion in 2023, representing a compound annual growth rate (CAGR) of 5.1%. The market is expected to reach $235.21 billion by 2027, with a CAGR of 3.3% during the forecast period.

The global automotive collision repair market is witnessing steady growth, driven by factors such as increasing automobile subscriptions and the adoption of advanced technologies. A comprehensive market analysis report provides valuable insights into the market trends, major players, and future growth projections.

Key Insights:

  • The market analysis covers various geographies, including the United States, Canada, United Kingdom, Germany, France, Italy, Spain, China, South Korea, India, Japan, and more.

  • Major players in the automotive collision repair market include 3M, Automotive Technology Products LLC (ATP), Denso Corporation, Faurecia, International Automotive Components Group, Magna International Inc., Mann+Hummel Group, Martinrea International Inc., Mitsuba Corporation, Robert Bosch GmbH, Eastman Chemical Company, Huntsman Corporation, DRiV Incorporated, and DuPont de Nemours Inc.

  • The report presents compelling reasons to purchase, including gaining a global perspective, understanding the market’s response to COVID-19, measuring the impact of high global inflation, and creating effective regional and country strategies.

  • The market is segmented based on automotive collision repair products, including crash parts, paints and coatings, adhesives and sealants, abrasives, finishing compounds, and others. It also considers service channels such as DIY, DIFM, and OE, catering to passenger vehicles, light commercial vehicles, and heavy commercial vehicles.

  • The utilization of 3D printing technology and the adoption of artificial intelligence are key trends driving the market’s growth.

Industry Developments:

  • Companies like 3M and LeanTec Technology are leveraging technology to enhance automotive collision repair services and streamline processes.

  • A consortium comprising organizations from Germany and Canada has launched a project named AI-SLAM, which aims to automate the repair process using 3D printing and artificial intelligence.

  • The rise in automobile insurance subscriptions is expected to boost the demand for automotive collision repair services, leading companies to enhance their offerings.

With its comprehensive analysis, the report equips stakeholders, strategists, marketers, and senior management with critical information to assess the automotive collision repair market. It helps in understanding market dynamics, identifying growth segments for investment, and outperforming competitors using forecast data and market trends.

Key Attributes:

Report Attribute

Details

No. of Pages

200

Forecast Period

2023 – 2027

Estimated Market Value (USD) in 2023

$206.35 billion

Forecasted Market Value (USD) by 2027

$235.21 billion

Compound Annual Growth Rate

3.3%

Regions Covered

Global

Key Topics Covered:

1. Executive Summary

2. Automotive Collision Repair Market Characteristics

3. Automotive Collision Repair Market Trends And Strategies

4. Automotive Collision Repair Market – Macro Economic Scenario
4.1 COVID-19 Impact On Automotive Collision Repair Market
4.2 Ukraine-Russia War Impact On Automotive Collision Repair Market
4.3 Impact Of High Inflation On Automotive Collision Repair Market

5. Automotive Collision Repair Market Size And Growth
5.1. Global Automotive Collision Repair Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Automotive Collision Repair Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Automotive Collision Repair Market Segmentation
6.1. Global Automotive Collision Repair Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Crash Parts

  • Paints and Coatings

  • Adhesives and Sealants

  • Abrasives

  • Finishing Compounds

  • Other Products

6.2. Global Automotive Collision Repair Market, Segmentation By Service Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

6.3. Global Automotive Collision Repair Market, Segmentation By Automotive Component Shop, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Authorized Repair Shops

  • Independent Garage

6.4. Global Automotive Collision Repair Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

7. Automotive Collision Repair Market Regional And Country Analysis
7.1. Global Automotive Collision Repair Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Automotive Collision Repair Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/6zzs35

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Attachment

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Copyright © All rights reserved. | Newsphere by AF themes.