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.

A full report of Automotive Collision Repair Services Market is available at:https://orionmarketreports.com/automotive-collision-repair-services-market/97117/  

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

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This release was published on openPR.