Dublin, Nov. 06, 2024 (GLOBE NEWSWIRE) -- The "Spain Automotive Collision Repair Market | Share, Trends, Value, Industry, Companies, Size, Forecast, Analysis, Revenue, Growth & Outlook | Market Forecast By Vehicle Type, By Product, By Service Channel And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Spain Automotive Collision Repair Market size is projected to grow at a CAGR of 4.3% during 2024-2030.
Spain's Automotive Collision Repair Market is expected to witness growth in the coming years driven by several factors including increasing traffic density, rising repair costs, stringent vehicle servicing rules, higher used car prices and increasing average vehicular age. The rising number of motor insurance subscriptions along with the increasing cost of motor claims is driving market size.
In addition to that, a general price rise in automotive components, spare parts and additional installations would is expected to increase automotive repair costs further augmenting the automotive collision repair market in Spain. Growing environmental concerns and advancements in paint manufacturing and coatings is inducing the demand for eco-friendly and low-emission paints. Thus, evolution in vehicular technology and adoption of sustainable solutions would be the key contributors to the growth of the automotive collision repair market.
Spain Automotive Collision Repair Market Overview
Due to the COVID-19 pandemic in 2020, the market witnessed a major slowdown due to movement restrictions, low mobility and supply chain disruptions. However, as the restrictions got eased and traffic density started normalizing, the automotive repair market witnessed a sharp recovery. Despite rising inflation and disruption caused by geopolitical stress, vehicle ownership levels in Spain are expected to stay high. Thus, a sharp rise in the cost of collision repair market would continue to augment the overall Spain Automotive Collision Repair Market size in the coming years.
Spain Automotive Collision Repair Market Share
Market Segmentation by Vehicle Type
In 2023, Light Duty Vehicles dominated the market, primarily due to a strong preference for personal mobility. The increasing costs associated with motor repairs and component replacements in cars are key factors driving the significant share of Light Duty Vehicles in the automotive collision repair market.
Market Segmentation by Product Type
In 2023, the largest share of revenues in the Spain Automotive Collision Repair Industry was attributed to components and spare parts. This can be attributed to the increased occurrence of high-impact accidents resulting in damages to components such as grills, fenders, and other dents, necessitating repair and incurring associated costs.
Market Segmentation by Service Channel
In 2023, the OE segment secured the largest market share in the Spain automotive collision repair market, driven by the widespread availability of insurance and warranty policies. Additionally, the segment benefits from extensive service networks and enjoys high levels of customer satisfaction.
Key Attractiveness of the Report
- 10 Years Market Numbers
- Historical Data Starting from 2020 to 2023
- Base Year: 2023
- Forecast Data until 2030
- Key Performance Indicators Impacting the Market
- Major Upcoming Developments and Projects
Key Highlights of the Report
- Spain Automotive Collision Repair Market Overview
- Spain Automotive Collision Repair Market Outlook
- Spain Automotive Collision Repair Market Forecast
- Historical Data and Forecast of Spain Automotive Collision Repair Market Revenues for the Period 2020-2030F
- Historical Market Data and Forecast of Revenues, by Vehicle Type, for the Period 2020-2030F
- Historical Market Data and Forecast of Revenues, by Product Type, for the Period 2020-2030F
- Historical Market Data and Forecasts of Revenues, by Service Channel, for the Period 2020-2030F
- Market Drivers and Restraints
- Market Trends
- Industry Life Cycle
- Porter's Five Force Analysis
- Market Opportunity Assessment
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Company Profiles
- Jahan Electronic Company
- Arya Madar Arjomand Company
- Labkhand Electronics
- General Electron Kit Company
- Hadiban Electronics Company
- Paya Daya Electronics Company
Market Scope and Segmentation
By Vehicle Type
- Light Duty Vehicle
- Heavy Duty Vehicle
By Product Type
- Paints and Coatings
- Components and Spare Parts
By Service Channel
- DIY
- DIFM
- OE
For more information about this report visit https://www.researchandmarkets.com/r/ujt9di
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