Automotive Collision Repair Market Analysis, Industry Statistics and Insight, Forecast, 2015 - 2022
Increasing consumer preference towards buying advanced and technologically equipped vehicles will drive automobile sales and prove favorable for the automotive collision repair market size. Automotive Collision Repair Market size will exceed USD 200 billion by 2022, as forecast by Global Market Insights, Inc.
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The advent of new safety technologies which includes Lane Departure Warning System (LDWS), automatic high-beam control, night vision & pedestrian control, forward collision repair, and autonomous emergency braking, etc. are expected to reduce collisions as well as severity of the accident. Incorporation of these reliable technologies in vehicles will restrain the industry demand. Improving highways and roadways infrastructure will lower the crash rate, which in turn will negatively affect the automotive collision repair market growth.
Repairing vehicle structures that are equipped with new sensors & technologies requires more expertise and investments to handle replacements, thus restricting independent and small workshops. Growing adoption of consumers preferring shared mobility will pose as a threat to the automotive collision repair market.
Customers prefer using authorized channels over other alternatives due to low rate of depreciation. Vehicles older than a range of 4 to 8 years are usually garaged at independent channels or small workshops owing to lower cost advantage over authorized channels and unavailability of parts.
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Paints and coatings accounted for 20% of the automotive collision repair market share in 2014 and will grow significantly from 2015 to 2022. This growth can be attributed to rising demand for quality and competitive paint jobs. Increasing traffic in urban areas presents high risk of small crashes and minor dents, which require touchups for restoring the vehicle to its original appearance.
Light duty vehicle repair demand will surpass USD 150 billion by 2022. Fuel economy initiatives by OEMs and regulatory bodies are also set to augment vehicle sales and provide a growth platform for the industry.
Companies operating in the industry include 3M, ABRA Auto Body & Glass, BASF, Continental, Service King, Caliber Collision, etc. The industry is highly fragmented due to the presence of several authorized, independent, and medium and small workshops which provide low cost damage restructuring services.
Germany automotive collision repair market share is estimated to exhibit 2% CAGR over the forecast timespan. Advancements in adopting new methods for damage restructuring jobs in services and supplementary products for painting, denting and bodyworks will support industry demand. APAC is set to benefit from considerable automobile sales, which increase the addressable automotive collision repair market potential. Economically stabilizing regions have witnessed slow adoption rates of advanced safety technologies. India automotive collision repair market growth will see demand for crash restructurings.
Automotive collision repair market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD billion from 2012 to 2022, for the following segments:
Automotive collision repair market by vehicle
Automotive collision repair market by product
• Paints & Coatings
The above information is provided on a regional basis for the following:
• North America
• Asia Pacific
• Latin America
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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