Automotive Collision Repair Market Future Prospects & Competetive Analysis 2021-2027

By Ronak Bora

Europe automotive collision repair market size is likely to register a steady CAGR of over 2.5% during the forecast timeframe. Shifting interest towards developing environmentally friendly collision repair products is projected to drive the growth of the recycled segment, with an estimated CAGR of around 3% by the forecast period. Increasing environmental concerns has directed the focus of companies towards using advanced tools and technologies to develop recycled products.
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The demand for vehicle touchups and restorations have increased significantly over recent years. Rising cases of road accidents and mishaps have contributed to surge in product demand. An increase in customer preference to restore vehicles to factory offered pre-collision finish is expected to stir the growth of the paints & coatings segment, with an projected 3.5% CAGR by 2026. Rise in traffic congestions across urban areas may result in potential vehicle dents & scratches, further inducing the demand for paint touchups.
Rapid urbanization rate in cities, growing population and increased motorization is the main cause of road traffic injuries and the leading causes of mortality. Lack of vehicle safety and driving regulations in developing economies is also contributing to rise in accidents, fueling automotive collision repair market size.
Heavy commercial vehicle accidents may significantly contribute towards automotive collision market growth on account of rising fatalities and injuries in truck accidents. According to the FMCSA (Federal Motor Carrier Safety Administration), around 415,000 crashes involving commercial vehicles were reported in the U.S. in 2015 and the accidents resulted in a total 3,852 fatalities in total. The limited view from the driver seat, narrow roads, over loading of consignments, unfamiliar roads are some of the factors resulting in HCV accidents. Rise in number of HCV accidents annually may fuel the demand for automotive collision repair parts.
Paints & coatings segment is forecast to showcase growth rate of 3.5% up to 2026 on account of the increasing customer focus on restoring vehicles with pre-collision finish. In addition, high traffic congestions in cities is resulting in minor vehicle scratches and dents, which will further boost the demand for minor paint touchups.
Recycled part segment is set to grow notably during the same time period, in part due to the growing emphasis of manufacturers on developing environment-friendly automotive collision repair parts. These players are utilizing advanced technologies to develop recycled automotive collision repair parts and products at cheaper prices to attract customers.
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Partial Chapter of the Table of Content
Chapter 5   Automotive Collision Repair Market, By Vehicle
5.1    Automotive collision repair market share by vehicle, 2020 & 2027
5.2    Passenger Cars
5.2.1    Market estimates and forecast, 2017 - 2027
5.2.2    Market estimates and forecast, by region, 2017 - 2027
5.3    LCV
5.3.1    Market estimates and forecast, 2017 - 2027
5.3.2    Market estimates and forecast, by region, 2017 - 2027
5.4    HCV
5.4.1    Market estimates and forecast, 2017 - 2027
5.4.2    Market estimates and forecast, by region, 2017 - 2027
5.5    Two Wheelers
5.5.1    Market estimates and forecast, 2017 - 2027
5.5.2    Market estimates and forecast, by region, 2017 - 2027
Chapter 6   Automotive Collision Repair Market, By Source
6.1    Automotive collision repair market share by source, 2020 & 2027
6.2    New OEM
6.2.1    Market estimates and forecast, 2017 - 2027
6.2.2    Market estimates and forecast, by region, 2017 - 2027
6.3    Aftermarket
6.3.1    Market estimates and forecast, 2017 - 2027
6.3.2    Market estimates and forecast, by region, 2017 - 2027
6.4    Recycled
6.4.1    Market estimates and forecast, 2017 - 2027
6.4.2    Market estimates and forecast, by region, 2017 - 2027
6.5    Remanufactured
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About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....

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