Automotive Collision Repair Market is Estimated to hit USD 238.74 billion at a CAGR of 2.1% by year 2032 | PMR

The Automotive Collision Repair Market size is projected to be valued at USD 198.02 billion in 2023 and is expected to rise to USD 238.74 billion by 2032. The market is expected to register a CAGR of 2.1% during the forecast period from 2024 to 2032.

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Various factors propelling the demand for automotive collision repair include:

● As economies grow and disposable incomes rise, more people can afford to buy cars, resulting in an increase in the number of vehicles on the road.

● Rising demand for excellent repair services is expected to lead to a significant rise in the automotive collision repair industry share over the forecast period.

● The growing worldwide vehicle population, which causes more accidents, boosts the automobile collision repair market share.

What is Automotive Collision Repair?

The field of automotive collision repair involves repairing cars after collisions or other types of damage to return them to their pre-accident state. This sector covers a broad spectrum of goods and services, including paint jobs, body work, frame straightening, mechanical repairs, and part installation. It provides services to fleet managers, insurance firms, and car dealerships, in addition to private customers. Emerging trends like Paintless Dent Repair (PDR), Advanced Driver Assistance Systems (ADAS) calibration, and the integration of Virtual Reality (VR) and Augmented Reality (AR) technologies for training and repair assistance are also included in the market due to developments in technology and materials.

Top Companies:

Because there are so many companies in the industry, it is expected to be both competitive and fragmented.

Some of the leading companies in the automotive collision repair market are:

• 3M
• Continental AG
• Denso Corporation
• Faurecia
• Federal-Mogul LLC
• Honeywell International, Inc.
• International Automotive Components Group
• Johnson Controls, Inc.
• Magna International Inc.
• Martinrea International Inc.
• Mitsuba Corporation

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/buy/202/2

Segmental Breakdown:

The market is mainly segmented based on product, vehicle type, end-use, and region. Based on the product research, in 2023, the spare parts category dominated the automotive collision repair market. Spare components are essential for repairing vehicles damaged in collisions. These elements comprise various components, such as bumpers, doors, fenders, hoods, taillights, headlights, and others.
Furthermore, according to the vehicle type study, the passenger vehicle category is predicted to have the highest CAGR during the forecast period. Globally, passenger vehicle ownership is steadily increasing due to causes such as improved economic conditions, urbanization, and changing lifestyles.

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Regional Landscape:

• North America (U.S., Canada)

• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)

• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)

• Latin America (Brazil, Mexico, Argentina)

• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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