Automotive collision repair services include denting, replacement, painting, refurbishment, and repairs. In most cases, the vehicle insurance companies fund collision repairs based on the insurance coverage claims for vehicles. Moreover, some workshops collaborate with insurance firms to help the customers propose the estimates for vehicle collision repair services. Apart from this, a large number of local vendors and company-owned repair shops provide automotive collision repair services to the consumers.
The rise in the cases of road collisions due to rash driving or driving under the effect of alcoholic consumption accelerates the market demand over the prediction timespan. The rising incidences of natural calamities, riots, and traffic jams are likely to damage vehicles, thereby accentuating the need for repair services for the vehicles. Progressive tools and technological advancements in the automotive collision repair products reassure market growth.
Road traffic injuries are the principal reasons behind human casualties due to increased motorization, transportation, and growing populace. The inadequate safety measures and non-adherence to traffic rules or guidelines in developing economies are contributing to increasing accidents, advancing the market growth of collision repairs. There is a growing need for automobile and road safety fueling the need for timely repairs. Furthermore, natural calamities and spurt in road accidents leading to vehicle harm activate growth. Another factor driving the repair sector's development is the quick progression of paints and coatings innovation, which adapts to the protective automobile materials and provides a neat appearance to vehicles. However, the harmful environmental effects arising out of using cheap synthetic layer and refinishing materials impede market growth to a certain extent. The growth of hybrid and electric vehicles and driverless cars also escalates the automotive collisions, thereby leading to more need for collision repairs. With growing sales and the aging of vehicles globally, the automotive collision repair market will advance with certainty.
Independent collision repair shop plays a significant role in the collision repair market
Independent collision repair shops are likely to witness steady growth as they offer economic repairing services. Many large fleet vehicle-owners prefer independent repair shops to dealer-based shops due to low service costs. Moreover, independent collision repair shop owners offer warranties for various parts and pass the advantages of suppliers and associations to escalate sales.
Passenger Vehicle Segment is the dominating one
The Passenger vehicle segment dominates this market 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. Supportive accident claim services and vehicle insurance policies offered by insurance providers are significant drivers for the market.
Rising demand for Electric and Hybrid cars
Rising sales of electric and hybrid cars and other conventional vehicles have resulted in the more requirements of customized spare parts. It has led to the growth of the OEM segment, offering customized repair services and parts. OEMs have advanced service outlets to distribute branded parts with customized service stations. Surging requests for electric and hybrid vehicles is likely to propel the market for specific gears and spare parts used in such vehicles, reassuring market development in forthcoming years. Private equity in automotive collision repair companies and workshops appeal to the investors leading to market growth.
Increasing accidental cases
Increasing accident rates among different vehicle segments, especially in heavy commercial vehicles, are pushing the request for collision repair products. Besides, inadequate maintenance of these vehicles leading to wear and tear of parts or their failures contributes to accidents. The growing requirement for refurbishment, corrosion coatings, paint elimination, and extensive body repairs is projected to induce section penetration.
Europe is expected to witness significant growth in the market during the prediction period
Among regions, Europe held the largest market share globally in 2017. The primary drivers in the region were high demand for luxury automobiles, amplifying demand for driverless cars, and strict government regulations concerning vehicular and road safety. Electric and hybrid car sales display an upward trend ensuring more requests during the projection period.
The increasing number of vehicle sales is foremost and an essential development in the Asia Pacific. A surge in accidents due to a lack of strict vehicle driving rules in the region is fueling the market's development. The Asia Pacific is assumed to be the significant market constituent for local organizations and multinationals supplying low-cost mechanisms to prominent vehicle vendors.
Global Collision Repair Market: Competitive Landscape
The major companies operating 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 and other prominent players.
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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
4.3. 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
5.2.2. By Workshop Type
126.96.36.199. Authorized Garage
188.8.131.52. Independent Garage
5.2.3. By Vehicle Type
184.108.40.206. Light Commercial Vehicle
220.127.116.11. Passenger Vehicle
18.104.22.168. Heavy Commercial Vehicle
5.2.4. By Region
22.214.171.124. North America
126.96.36.199. Asia Pacific
188.8.131.52. Latin America
184.108.40.206. 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
220.127.116.11. United States
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
18.104.22.168. United Kingdom
22.214.171.124. 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
126.96.36.199. South Korea
188.8.131.52. 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
184.108.40.206. 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
10.2.4.3. 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.
11.7. 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
A selection of companies mentioned in this report includes:
- Denso Corporation
- Continental AG
- Honeywell International Inc.
- Johnson Controls Inc.
- ZF Friedrichshafen
- Robert Bosch GmbH
- Federal-Mogul LLC
- Automotive Technology Products LLC
- Caliber Collision Henkel AG&Co.