Automotive Collision Repair Market Analysis

Automotive Collision Repair Market Analysis

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Based on product, the market is divided into crash parts, paints & coatings, adhesives & sealants, abrasives, finishing compound, others. In 2023, crash parts held the dominant market of USD 62.5 billion and is expected to reach USD 106.9 billion by 2032. A higher number of vehicles on the road and increased vehicle usage result in more frequent accidents and collisions, driving the demand for crash parts. Modern vehicles incorporate advanced materials and designs, which often require specialized and sometimes expensive crash parts. The need to replace these parts after collisions drives market demand.
 

Based on vehicle type, the automotive collision repair market is categorized into passenger cars, HCV & LCV, motorcycles. In 2023, passenger cars held the dominant market share of 51% and is anticipated to grow through the years. Passenger cars represent the largest segment of the automotive market. The high number of vehicles on the road leads to a significant volume of collision repairs required annually. Modern passenger cars are equipped with advanced driver-assistance systems (ADAS) and high-strength materials, which require specialized repair techniques and parts, influencing demand for advanced repair services.
 

North America held an automotive collision repair market of around USD 53.1 billion in 2023 and is expected to reach USD 87.1 billion by 2032. North America has one of the highest rates of vehicle ownership per capita in the world. The extensive vehicle fleet means more collisions and accidents, driving a steady demand for repair services.
 

The market in U.S. is set to grow through a CAGR of 5.9% through the forecast time period. The U.S. has one of the highest vehicle ownership rates in the world, with over 270 million registered vehicles. This extensive fleet leads to a substantial number of collisions and repairs annually.
 

The German automotive collision repair market maintained a considerable position in Europe. Germany has a large and diverse vehicle fleet, including a significant number of passenger cars, commercial vehicles, and luxury cars. The high vehicle density leads to frequent collisions and the need for repair services.
 

China is supposed to grow at the highest rate of 6.6% in the region. China has one of the largest and fastest-growing vehicle fleets in the world. The significant increase in the number of cars on the road leads to a higher incidence of collisions and consequently drives demand for collision repair services.