Automotive Collision Repair Market Size, Share, Analysis, Latest Updates And Outlook 2024-2033

The automotive collision repair market size has grown steadily in recent years. It will grow from $202.76 billion in 2023 to $210.85 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The growth in the historic period can be attributed to increasing number of vehicles on the road, rising number of accidents, growing demand for vehicle customization, advancements in technology leading to more complex vehicles, increasing disposable income and willingness to spend on vehicle repairs.

The automotive collision repair market size is expected to see steady growth in the next few years. It will grow to $254.84 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to growing demand for electric vehicles, increasing adoption of advanced driver assistance systems (adas), rising demand for lightweight materials in vehicle manufacturing, growing popularity of ride-sharing services, increasing focus on vehicle safety and regulations. Major trends in the forecast period include use of augmented reality for repair diagnostics, adoption of sustainable and eco-friendly repair practices, growth in mobile and on-demand repair services, integration of 3d printing for replacement parts, emphasis on training and certification for repair technicians.

Market Overview -
Automotive collision repair refers to the process when a trained automotive technician fixes damages in cars and other vehicles that are caused by accidents, weather, and other incidents. Collision repair includes the removal of dents, scratches, and replacement of glass, paint, and others. The automotive collision repair is used for fixing the damaged parts and bodies of cars and other vehicles.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=7168&type=smp

Growing Insured Vehicles Fuel Demand For Automotive Collision Repair Market
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. For instance, according to an article by PolicyAdvice, an American website that provides insurance information in 2022 said that, 87% of US drivers have car insurance and the market has grown by 2.7% on an average over the past five years. Another report by Care, an Indian rating agency, in 2021 said that motor insurance is set to rise in 2022 and motor insurance premium is to grow by 6% to 8% in 2022. Therefore, an increase in the number of subscriptions to automobile insurance is expected to boost demand for automotive collision repair during the forecast period.

Competitive Landscape -
Major companies operating in the automotive collision repair market report are 3M Company, Automotive Technology Products LLC, Denso Corporation, Faurecia India Private Limited, International Automotive Components Group LLC, Caliber Collision Centers Inc., Service King Collision Repair Centers Inc., ABRA Auto Body & Glass LP, Gerber Collision & Glass LLC, Maaco Collision Repair & Auto Painting, CARSTAR Auto Body Repair Experts, Boyd Autobody & Glass, Fix Auto USA, ProColor Collision, Sterling Collision Centers Inc., Classic Collision Inc., 1Collision Network, Crash Champions LLC, Craftsman Collision, Herb's Paint & Body, Precision Collision Center, PDR Autoworks, Pacific Elite Collision Centers, Dent Wizard International Corporation, Boyd Group Inc., Dent Doctor, Caliber Auto Care, Joe Hudson's Collision Center, VIVE Collision, Puget Collision LLC

3D Printing Technology Reshapes The Future Of Automotive Collision Repair Market
The utilization of 3D printing technology is a key trend in the automotive collision repair market. Many companies operating in the automotive collision repair market are using 3D printing tools and solutions to sustain their position in the market and to provide the best services for their customers. For instance, in January 2022, a collection of organizations from Germany and Canada launched a new consortium for automating the process of repairing parts using 3D printing and artificial intelligence. The new project is named Artificial Intelligence Enhancement of Process Sensing for Adaptive Laser Additive Manufacturing (AI-SLAM).

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/automotive-collision-repair-global-market-report

Key Segments -
The automotive collision repair market covered in this report is segmented -
1) By Product: Crash Parts, Paints and Coatings, Adhesives and Sealants, Abrasives, Finishing Compounds, Other Products
2) By Service Channel: DIY, DIFM, OE
3) By Automotive Component Shop: Authorized Repair Shops, Independent Garage
4) By Vehicle Type: Passenger Vehicles, Light Commercial Vehicles

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.