Dublin, Jan. 15, 2024 (GLOBE NEWSWIRE) -- The "Global Automotive Collision Repair Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global automotive collision repair market size reached US$190.4 Billion in 2022 and is forecast to reach US$ 216 Billion by 2028, exhibiting a growth rate (CAGR) of 2.12% during 2022-2028.
The market is primarily being driven by the increasing instances of road accidents and fatalities across the globe. Moreover, significant growth in the automotive industry is providing a thrust to the market growth. The growing sales of hybrid and electric vehicles (H/EVs), along with the conventional cars, have further enhanced the demand for repair services among consumers. In line with this, automotive retailers are also offering do-it-yourself (DIY) kits consisting of complex and customized spare parts for the consumers, which is also contributing to the growth of the market.
Additionally, the utilization of 3D printing technology to manufacture complex automotive components and prototypes is favoring the market growth. Other factors, including rising expenditure capacities of the consumers, along with the availability of automobile insurance policies with economical premium rates, are anticipated to drive the market toward growth.
Key Market Segmentation
This research provides an analysis of the key trends in each sub-segment of the global automotive collision repair market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on product type, service channel and vehicle type.
Breakup by Product Type:
- Paints and Coatings
- Consumables
- Spare Parts
Breakup by Service Channel:
- OEMs
- Aftermarket
Breakup by Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles (LCVs)
- Heavy Commercial Vehicles (HCVs)
- Two Wheelers
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the following key players:
- 3M Company
- Automotive Technology Products
- Caliber Collision
- Continental AG
- Denso Corporation
- DuPont de Nemours
- Eastman Chemical Company
- Faurecia SE
- Honeywell International
- IAC Group
- Magna International
- Robert Bosch
- Tenneco
Key Questions Answered in This Report:
- How has the global automotive collision repair market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global automotive collision repair market?
- What are the key regional markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the service channel?
- What is the breakup of the market based on the vehicle type?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global automotive collision repair market and who are the key players?
- What is the degree of competition in the industry?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 141 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $190.4 Billion |
| Forecasted Market Value (USD) by 2028 | $216 Billion |
| Compound Annual Growth Rate | 2.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ehc6c7
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