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2023 Automotive Collision Repair Global Market | Insights, Industry Outlook, Growing Trends, Segments And Top Key Players Include 3M, Automotive Technology Products LLC (ATP), Denso Corporation, Faurecia, International Automotive Components Group
Automotive Collision Repair Market
Automotive Collision Repair Market Size, Growth Rate, And Forecast
The global automotive collision repair market size grew from $196.41 billion in 2022 to $206.35 billion in 2023 at a compound annual growth rate (CAGR) of 5.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive collision repair market size is expected to grow to $235.21 billion in 2027 at a CAGR of 3.3%.
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Automotive Collision Repair Market Drivers
The rise in the number of subscriptions to automobile insurance is expected to propel the automotive collision repair market going forward. Automobile insurance refers to motor insurance that provides cover for loss or damage to the insured person's vehicle such as cars, two-wheelers, or any other commercial vehicles. The rise in the number of subscriptions to automobile insurance compels automotive collision repair companies to come up with better services and products for their customers.
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Automotive Collision Repair Market Segments
• By Product: Crash Parts, Paints and Coatings, Adhesives and Sealants, Abrasives, Finishing Compounds, Other Products
• By Service Channel: DIY, DIFM, OE
• By Automotive Component Shop: Authorized Repair Shops, Independent Garage
• By Vehicle Type: Passenger Vehicles, Light Commercial Vehicles
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Western Europe was the largest region in the Automotive Collision Repair market.
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Automotive Collision Repair Market Key Players
Major competitors 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
The Business Research Company's "Global Automotive Collision Repair Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Automotive Collision Repair Market Include:
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
5. Automotive Collision Repair Market Size And Growth
……….
28. Key Mergers And Acquisitions In The Automotive Collision Repair Market
29. Automotive Collision Repair Market Future Outlook and Potential Analysis
30. Appendix
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