Report Overview

The Global Collision Repair Market was worth USD 181.52 billion in 2019 and is estimated USD 237.19 billion by 2027, at a CAGR of 3.4 % during the projected period. Advanced tools and technology growth in automotive collision repair products will enhance the market request. Road traffic injuries are the foremost reasons for increasing human fatalities amidst rapid and increased motorization and transportation for the swelling population. The lack of severe safety measures and applicable guidelines in developing economies contributes to increasing accidents, boosting collision repair market growth. 

The negligence in road safety and non-adherence to the traffic rules are the triggers for this market. Furthermore, natural calamities and spurt in road accidents leading to the vehicle's damage activate the growth. Another factor driving business sector development is the quick progression of paints and coatings innovation, which adapts with the protective automobile materials and provides a neat appearance to the automobile. However, the harmful environmental effects of the use of cheap synthetic layer and refinishing materials hamper the market growth to a certain extent. The surge in hybrid and electric vehicles and growth in driverless cars also intensify the automotive collision market's growth. The growing sales and the aging of vehicles globally ratify the continuous development of this market.

Global Collision Repair Market – Overview 

Automotive collision repair services include denting, replacement, painting, refurbishment, and repairs. Vehicle insurance companies finance collision repairs for vehicles based on insurance coverage claims for vehicle collisions in most of the cases. Some workshops collaborate with insurance firms to help the customers propose vehicle collision repair services and estimate their cost. Apart from this, numerous local vendors and company-owned repair shops provide automotive collision repair estimates to the consumers. 

The rising cases of road collisions due to rash driving or driving under the influence of alcohol may accelerate the market request over the prediction timespan. Moreover, the rising incidence of natural tragedies, riots, and traffic jams are likely to damage vehicles, thereby leading to the need for damaged vehicles' repair services.

Key Drivers 

Rising demand for Electric and Hybrid vehicles

Rising sales of electric and hybrid vehicles, including conventional cars and other vehicles, has resulted in customized spare parts, boosting the repair services on offer by the OEM segment. OEMs have advanced service outlets to provide their services and branded auto parts through their several departments. The current rising demand for electric and hybrid vehicles is likely to improve the market for the particular gears and spare parts used in such vehicles, ensuring market development in forthcoming years. Private equity in automotive collision repair companies and workshops are likely to appeal to the investors and lead to future market growth. 

Increasing accidental cases

Growing accident rates in heavy commercial and other vehicles drive the request for collision repair services and parts. Also, Inadequate maintenance of the vehicles causes the collapse of parts leading to the accidents. Moreover, growing requirements for refurbishment, corrosion coatings, paint elimination, and extensive body repairs are estimated to increase market penetration.

Global Collision Repair Market: Segmentation

According to workshop type, the market can be divided into two viz., independent collision repair shops and dealer-affiliated workshop. The independent collision repair shops will witness steady growth with economic repairing services. Many large fleet consumers prefer independent repair shops to dealer-based shops owing to low service costs. Moreover, independent collision repair shop owners offer warranties for various parts and other advantages related to suppliers and their associations to escalate sales.

The Passenger vehicle segment dominates the industry based on vehicle type due to rising road traffic in the developing economies. Besides, vehicle repair centers' strong presence offering restoration and refurbishment services will spur the segment size. Besides, insurance providers' supportive accident claim services and vehicle insurance policies are significant drivers for this market segment.

Based on region, Global Collision Repair Market is segmented by key regions— North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. 

Global Collision Repair Market: Regional Insights 

Among regions, Europe captured the highest share for the global market in 2017. The primary drivers in the area were high demand for luxury automobiles, flourishing demand for driverless cars, and stringent government regulations concerning vehicular and road safety. Electric and hybrid car sales are on the rise, reassuring constant repair requests during the prediction period.

The increasing number of vehicle sales is a notable and essential development in the Asia Pacific. An increase in accidents due to a lack of strict driving rules in the region further adds to the market's advancement. The Asia Pacific is the preferred destination for local organizations and multinationals who aim to supply low-cost mechanisms to vehicle vendors.

Competitive Landscape

The major players in this market are Denso Corporation, Continental AG, 3M, Honeywell International, Inc., DuPont, BASF, Johnson Controls, Inc., ZF Friedrichshafen, Robert Bosch GmbH, Federal-Mogul LLC, Automotive Technology Products LLC, Caliber Collision and Henkel AG&Co., KGaA.

Scope of the Report

By Service Type

Ø  Paints

Ø  Parts

Ø  Repair 

By Workshop Type 

Ø  Authorized Garage

Ø  Independent Garage 

By Vehicle Type

Ø  Light Commercial Vehicle

Ø  Passenger Vehicle

Ø  Heavy Commercial Vehicle

By Region

Ø  North America

Ø  Europe 

Ø  Asia Pacific

Ø  South America

Ø  Middle East & Africa

The objective of the Study:

Ø  To analyze and project the Global Collision Repair Market size in terms of value.

Ø  To examine the region-wise segmentation of the Global Collision Repair Market and assess the market size in terms of value for each region viz., North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and their leading countries. 

Ø  To outline, segregate and estimate the Global Collision Repair Market-based on different classifications, i.e., By workshop type, By vehicle segment, By Region.

Ø  To scrutinize category-wise competitive developments in the Global Collision Repair Market based on By workshop type, By vehicle segment, By Region.

Ø  To interpret the current market dynamics by analyzing the growth drivers, restraints, opportunities, and challenges and their impact. 

Ø  To provide a detailed competitive landscape, including major players, strategic profiles, and market shares.

Business Questions Answered by the Report

Ø  How will the market drivers, restraints, and opportunities affect the market dynamics?

Ø  What will be the market size in terms of value and volume and market statistics with a detailed classification?

Ø  Which segment dominates the market or region, and which one will be the fastest-growing, and why?

Ø  Who are the key players in the market, and what is their share?

Ø  What is the strategy adopted by key players, and how does it affect the existing and new players?

Customization Scope for the Client

Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization as per the client’s specific needs. The following customization options are available for the report:

Ø  Additional Company Information

Ø  Detail Analysis of five additional companies

Ø  Additional country analysis

Ø  Detailed segment analysis

SCOPE           

1.    Research Framework

1.1.     Research Objective

1.2.     Product Overview

1.3.     Market Segmentation

2.    Research Methodology

2.1.     Qualitative Research

2.1.1.   Primary & Secondary Sources

2.2.     Quantitative Research

2.2.1.   Primary & Secondary Sources

2.3.     Market Breakdown & Data Triangulation

2.3.1.   Secondary Research

2.3.2.   Primary Research

2.4.     Breakdown of Primary research respondent, By Region

2.5.     Assumption & Limitation

3.    Executive Summary

4.    Global Collision Repair market   Industry Insights

4.1.     Industry Value Chain Analysis

4.2.     DROC Analysis

4.2.1.   Growth Drivers

4.2.2.   Restraint

4.2.3.   Opportunities

4.2.4.   Challenges

4.3.     Technological Landscape/Recent Development

4.4.     Regulatory Framework

4.5.     Company Market Share Analysis, 2019

4.6.     Porter’s Five Forces Analysis

4.6.1.   Bargaining Power of Suppliers

4.6.2.   Bargaining Power of Buyers

4.6.3.   Threat of New Entrants

4.6.4.   Threat of Substitutes

4.6.5.   Intensity of Rivalry

4.7.     Impact of COVID 19

5.    Global Collision Repair market Overview

5.1.     Market Size & Forecast by Value, 2016-2026

5.1.1.   By Value (USD Million)

5.2.     Market Share & Forecast

5.2.1.   By Service Type

5.2.1.1.       Paints

5.2.1.2.       Parts

5.2.1.3.       Repair

5.2.2.   By Workshop Type

5.2.2.1.       Authorized Garage

5.2.2.2.       Independent Garage

5.2.3.   By Vehicle Type

5.2.3.1.       Light Commercial Vehicle

5.2.3.2.       Passenger Vehicle

5.2.3.3.       Heavy Commercial Vehicle

5.2.4.   By Region

5.2.4.1.   North America

5.2.4.2.   Europe

5.2.4.3.   Asia Pacific

5.2.4.4.   Latin America

5.2.4.5.   Middle East & Africa

6.    North America Collision Repair Market

6.1.     Market Size & Forecast by Value, 2016-2026

6.1.1.   By Value (USD Million)

6.2.     Market Share & Forecast

6.2.1.   By Service Type

6.2.2.   By Workshop Type

6.2.3.   By Vehicle Type

6.2.4.        By Country

6.2.4.1.     United States

6.2.4.2.     Canada

7.    Europe Collision Repair market

7.1.     Market Size & Forecast by Value, 2016-2026

7.1.1.   By Value (USD Million)

7.2.     Market Share & Forecast

7.2.1.   By Service Type

7.2.2.   By Workshop Type

7.2.3.   By Vehicle Type

7.2.4.        By Country

7.2.4.1.     Germany

7.2.4.2.     United Kingdom

7.2.4.3.     France

7.2.4.4.     Italy

7.2.4.5.     Spain

7.2.4.6.     Rest of Europe

8.    Asia Pacific Collision Repair Market

8.1.     Market Size & Forecast by Value, 2016-2026

8.1.1.   By Value (USD Million)

8.2.     Market Share & Forecast

8.2.1.   By Service Type

8.2.2.   By Workshop Type

8.2.3.   By Vehicle Type

8.2.4.        By Country

8.2.4.1.       India

8.2.4.2.       China

8.2.4.3.       Japan

8.2.4.4.       South Korea

8.2.4.5.       Rest of Asia Pacific

9.    Latin America Collision Repair Market

9.1.     Market Size & Forecast by Value, 2016-2026

9.1.1.   By Value (USD Million)

9.2.    Market Share & Forecast

9.2.1.   By Service Type

9.2.2.   By Workshop Type

9.2.3.   By Vehicle Type

9.2.4.        By Country

9.2.4.1.     Brazil

9.2.4.2.     Mexico

9.2.4.3.     Rest of Latin America

10.Middle East & Africa Collision Repair Market

10.1.   Market Size & Forecast by Value, 2016-2026

10.1.1.                By Value (USD Million)

10.2. Market Share & Forecast

10.2.1.                By Service Type

10.2.2.                By Workshop Type

10.2.3.                By Vehicle Type

10.2.4.     By Country

10.2.4.1.      Saudi Arabia

10.2.4.2.      UAE

10.2.4.3.      South Africa

10.2.4.4.      Rest of Middle East & Africa

11.Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *

11.1.  Denso Corporation

11.2. Continental AG

11.3. 3M Company

11.4. Honeywell International, Inc.

11.5. DuPont

11.6. BASF

11.7. Johnson Controls, Inc.,

11.8. ZF Friedrichshafen

11.9. Robert Bosch GmbH

11.10.                Federal-Mogul LLC

11.11.                Automotive Technology Products LLC

11.12.                Caliber Collision

11.13.                Henkel AG&Co., KGaA

11.14.                Other Prominent Players

* Financial details in case of unlisted companies will be available as per data availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable