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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Automotive collision repair includes denting, painting, repairing, and replacement of accidentally damaged vehicles parts. The cost for the collision repair is financed by the insurance companies. These insurance-providing companies have tie-up with the automotive collision repair service providing shops.

The increasing awareness regarding the insurance of automotive vehicles has resulted in an increase in auto insurance expenditure across the globe, and technological advancements in the automobile sector are the factors boosting the growth of the global automotive collision repair market, according to Coherent Market Insights analysis. For instance, according to Insurance Information Institute, in the U.S., the country-wide average auto insurance expenditure, in the year 2017 was US$ 1,006.33, which got increased up to the US$ 1,056.55 in the year 2018, which is further expected to increase over the forecast period (2021-2028).

Global Automotive Collision Repair Market - Impact of Coronavirus (Covid-19) Pandemic

COVID-19 has significantly disrupted several industries including infrastructure, retail, manufacturing, automotive, and others. To combat the COVID-19 pandemic, most of the countries have implemented strict lockdowns and canceled their domestic and international flights, so the monetary spending of people on air travel activity has also reduced, according to CMI’s analysis.

Covid-19 has severely impacted the automotive industry across the globe. Several automotive manufacturing companies were closed for many days, due to nationwide lockdown in various countries of the Asia Pacific and Europe. The supply chain of automotive companies and the demand for automotive products were also severely impacted. In addition, financial disparity due to Covid-19 is expected to hamper the sale of new automotive products, due to budget constraints consumers may prefer to buy used automotive parts. Moreover, the growing sale of automotive repaired components is expected to boost the demand for cost-effective parts for vehicle maintenance.  

European region is expected to hold dominant position in the global automotive collision repair market during the forecast period.

Statistics:

Among regions, Europe held dominant position in the global automotive collision repair market in 2019, accounting for 42.56% share in terms of value, followed by North America and Asia Pacific.

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Automotive Collision Repair Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 183.78 Bn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2020 to 2027 CAGR: 2.37% 2028 Value Projection: US$ 216.53 Bn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East and Africa: GCC Countries, South Africa, Rest of Middle East, and Africa
Segments covered:
  • By Product Type: Parts and Components, Paints and Coatings
  • By Vehicle Type: Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles
  • By Automotive Component Shop Type: Authorized Repair Shops, Independent Garage
Companies covered:

Major companies operating in the global automotive collision repair market include: 3M, Automotive Technology Products LLC, Caliber Collision Centers, Continental AG, Denso Corporation, DRiV Incorporated, Faurecia, Gerber Collision & Glass, Honeywell International, Inc., International Automotive Components Group, Johnson Controls Inc., Magna International, Inc., Mann+Hummel Group, Martinrea International, Inc., Mitsuba Corporation, Robert Bosch GmbH, and ZF Friedrichshafen AG

Growth Drivers:
  • Increasing sales of automotive cars 
  • Rising adoption of automotive insurance
Restraints & Challenges:
  • Increasing cost of automotive collision repair

Figure 1: Global Automotive Collision Repair Market Share (%), By Region, 2019

Automotive Collision Repair  | Coherent Market Insights

European region held the highest market share in the year 2020 in global automotive collision repair market and is expected to retain its dominance over the forecast period. The growth in the European region is majorly attributed to the presence of large automotive manufacturers in the region such as BMW and Mercedes. Moreover, high penetration of automotive vehicles with enhanced safety features, and the increasing penetration of electric and hybrid vehicles in the region, is further expected to boost the growth of automotive collision repair market in the region. For instance, according to Coherent Market Insights analysis, in the year 2020, the sale of electric vehicles in the European region was increased by approximately 130%, which is further expected to increase over the forecast period.

Major companies operating in the global automotive collision repair market include: 3M, Automotive Technology Products LLC, Caliber Collision Centers, Continental AG, Denso Corporation, DRiV Incorporated, Faurecia, Gerber Collision & Glass, Honeywell International, Inc., International Automotive Components Group, Johnson Controls Inc., Magna International, Inc., Mann+Hummel Group, Martinrea International, Inc., Mitsuba Corporation, Robert Bosch GmbH, and ZF Friedrichshafen AG.

Among vehicle type, the passenger vehicles sub-segment is expected to showcase highest CAGR in the market during the forecast period, owing to high sales of passenger cars across the globe.

The global automotive collision repair market is segmented on basis of vehicle type as passenger vehicles, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment is expected to dominate the market, owing to an increase in the fleet size of passenger cars over the forecast period. For instance, according to the International Organization of Motor Vehicle Manufacturers, there was an increase of 1.4% in the global sales of passenger vehicles in 2017 with total sales of 71 Billion passenger vehicles, across the globe.

Figure 2: Global Automotive Collision Repair Market Value (US$ Bn), 2017 - 2028

Automotive Collision Repair  | Coherent Market Insights

The global automotive collision repair market was valued at US$ 175.28 Bn in 2019 and is expected to reach US$ 216.53 Bn by 2028 at a CAGR of 2.37% between 2021 and 2028.

Automotive collision repairing service provider performs structural and cosmetic repair of cars and trucks. The road accidents of automotive vehicles lead to the collision of automotive body parts, such as bumpers, glass windows, headlights, and doors, which leads to the dents and scratches on the body of the automotive vehicle that creates the need for automotive collision.

Market Dynamics

An increasing number of safety regulations and traffic rules for maintaining the automotive vehicle in a good condition, is propelling the demand of the global automotive collision repair market. Safety traffic rules and regulations mandate the proper functioning of the automotive vehicle, to ensure road safety, which ill compels consumers to repair their automotive vehicles.  For instance, European Union has implemented regulation number 715/2007 that establishes a requirement for type approval of motor vehicle and replacement parts, with reference to vehicle emission, and implemented rules for the proper functioning of on-board diagnostic systems, pollution control devices, measurement of fuel consumption of a vehicle, and accessibility for the repairing and maintenance information of the vehicle.

In addition, a compulsion to buy vehicle insurance, as stated by the regional transport authority, and the central government of several countries such as India, the U.S., UK, and the rising per capita income influence the people for the new vehicle purchase. Automotive vehicle insurance covers losses that may causes due to the collision to the vehicle, is further expected to boost the growth of the global automotive collision repair market. For instance, according to Organization for Economic Co-operation and Development, in the year 2020, the household disposable income of Canada was increased by 7.3%, which will motivate the people to purchase a new vehicle.

Market Taxonomy

This report segments the global automotive collision repair market on the basis of product type, vehicle type, automotive component shop type, and region. On the basis of product type, global automotive collision repair market is segmented into parts and components, and paints and coatings. On the basis of vehicle type, the global automotive collision repair market is segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. On the basis of automotive component shop type, the global automotive collision repair market is segmented into authorized repair shops, and independent garage. On the basis of region, global automotive collision repair market is segmented into North America, Latin America, Europe, Asia pacific, Middle East, and Africa.

Key features of the study:

  • This report provides an in-depth analysis of the global automotive collision repair market, provides market size (US$ Billion), and compound annual growth rate (CAGR %) for the forecast period (2021-2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global automotive collision repair market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Major companies operating in the global automotive collision repair market include: 3M, Automotive Technology Products LLC, Caliber Collision Centers, Continental AG, Denso Corporation, DRiV Incorporated, Faurecia, Gerber Collision & Glass, Honeywell International, Inc., International Automotive Components Group, Johnson Controls Inc, Magna International, Inc, Mann+Hummel Group, Martinrea International, Inc, Mitsuba Corporation, Robert Bosch GmbH, and ZF Friedrichshafen AG
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The global automotive collision repair market analysis report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global automotive collision repair market

Detailed Segmentation:

  • Global Automotive Collision Repair Market, By Product Type:
    • Parts and Components
    • Paints and Coatings
  • Global Automotive Collision Repair Market, By Vehicle Type:
    • Passenger Vehicles
    • Light Commercial Vehicles
    • Heavy Commercial Vehicles
  • Global Automotive Collision Repair Market, By Automotive Component Shop Type:
    • Authorized Repair Shops
    • Independent Garage
  • Global Automotive Collision Repair Market, By Region:
    • North America
    • Europe
    • Latin America
    • Asia Pacific
    • Middle East and Africa
  • Company Profiles
    • 3M**
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Key highlights
    • Automotive Technology Products LLC
    • Caliber Collision Centers
    • Continental AG
    • Denso Corporation
    • DRiV Incorporated
    • Faurecia
    • Gerber Collision & Glass
    • Honeywell International, Inc
    • International Automotive Components Group
    • Johnson Controls Inc.
    • Magna International, Inc.
    • Mann+Hummel Group
    • Martinrea International, Inc.
    • Mitsuba Corporation
    • Robert Bosch GmbH
    • ZF Friedrichshafen AG

**All the pointers will also be provided for the rest of the companies.

Browse all the market data tables and figures on ‘Global Automotive Collision Repair Market - Forecast to 2028’

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Vehicle Type
      • Market Snippet, By Automotive Component Shop Type
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Solutions Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Global Automotive Collision Repair Market: Impact of COVID-19 on Market
    • Short Term
    • Long term
  5. Global Automotive Collision Repair Market, By Product Type, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2028 (%)
      • Segment trends
    • Parts and Components
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Paints and Coatings
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
  6. Global Automotive Collision Repair Market, By Vehicle Type, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2028 (%)
      • Segment trends
    • Passenger Vehicles
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Light Commercial Vehicles
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Heavy Commercial Vehicles
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
  7. Global Automotive Collision Repair Market, By Automotive Component Shop Type, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2028 (%)
      • Segment trends
    • Authorized Repair Shops
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
    • Independent Garage
      • Introduction
      • Market Size and Forecast, Y-o-Y Growth Analysis (US$ Million)
  8. Global Automotive Collision Repair Market, By Region, 2017-2028 (US$ Million)
    • Introduction
      • Market Share Analysis, Y-o-Y Growth Analysis, 2017 and 2028 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2021–2028 (US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2021–2028 (US$ Million)
      • Market Size and Forecast, By Automotive Component Shop type, 2021–2028 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2028 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2021–2028 (US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2021–2028 (US$ Million)
      • Market Size and Forecast, By Automotive Component Shop type, 2021–2028 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2028 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2021–2028 (US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2021–2028 (US$ Million)
      • Market Size and Forecast, By Automotive Component Shop type, 2021–2028 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2028 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2021–2028 (US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2021–2028 (US$ Million)
      • Market Size and Forecast, By Automotive Component Shop type, 2021–2028 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2028 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • Regional Trends
      • Market Size and Forecast, By Product Type, 2021–2028 (US$ Million)
      • Market Size and Forecast, By Vehicle Type, 2021–2028 (US$ Million)
      • Market Size and Forecast, By Automotive Component Shop type, 2021–2028 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2028 (%)
        • GCC Countries
        • South Africa
        • Rest of the Middle East and Africa
  9. Competitive Landscape
    • Company Profiles
      • 3M
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Automotive Technology Products LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Caliber Collision Centers
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Continental AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Denso Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • DRiV Incorporated.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Faurecia.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Gerber Collision & Glass
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Honeywell International Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • International Automotive Components Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Johnson Controls Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Magna International, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Mann+Hummel Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Martinrea International, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Mitsuba Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Robert Bosch GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • ZF Friedrichshafen AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on ‘Global Automotive Collision Repair Market -forecast to 2028’

FAQgrowicon

Frequently Asked Questions

The global automotive collision repair market is expected to reach US$ 188.14 Billion by 2022.
The market is expected to witness a CAGR of 2.37% during the forecast period (2021-2028).
Rise in number of automotive insurance subscriptions, is expected to drive growth of the market during the forecast period.
The passenger vehicles segment is expected to have the largest market share among vehicle type segment, contributing 56.63% in terms of value in 2019.
Europe held the largest share in the market in 2019, accounting for 42.56% share in terms of value.
Major companies operating in the market include: 3M, Automotive Technology Products LLC, Caliber Collision Centers, Continental AG, Denso Corporation, DRiV Incorporated, Faurecia, Gerber Collision & Glass, Honeywell International, Inc., International Automotive Components Group, Johnson Controls Inc, Magna International, Inc, Mann+Hummel Group, Martinrea International, Inc, Mitsuba Corporation, Robert Bosch GmbH, and ZF Friedrichshafen AG
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