Fresh Coat: the Increasing Complexity of Safety Systems Will Likely Translate into Higher Prices for Industry Services
Car body shops offer necessary and discretionary services for a variety of vehicles, ranging from painting and window tinting to bodywork repairs. Body shops have contended with volatile conditions in recent years as the pandemic shook both the world and Canadian economies. Although body shops were deemed essential businesses, demand dropped significantly as lockdowns kept people from driving. The prices of key commodities shot up in the wake of pandemic-related restrictions as supply lagged behind surging demand, pressuring profit. Altogether, Canadian car body shop revenue has been falling at a CAGR of 0.4% to $7.6 billion, despite an anticipated growth of 5.3% in 2023 alone.
The Car Body Shops industry in Canada includes operators that are primarily engaged in providing repair, paint and customization work to the interior and body of passenger cars, trucks, vans and trailers. Some industry operators specialize in certain auto repairs. For example, paint shops specialize in post-collision paint jobs, while automotive glass shops replace, repair and tint windows. Restoration shops, which typically represent a niche market, restore classic and antique cars.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
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