Collision insurance is a type of insurance coverage under which the damages to a car are covered which results from a collision from any other object such as tree, fence or another car. It also covers the damages in case of hit-and-run accident or in a situation where the driver is not at fault. Although, this insurance covers the damages done to an object, a deductible amount needs to be decided before opting for the insurance, which needs to be paid be the insured before invoking the claim. It also does not cover damages caused to living beings.
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Data Bridge Market Research analyses that Global Automotive Collision Repair Market is expected to reach a value of USD 82.71 billion by 2031 from 58.53 billion in 2023, growing at a CAGR of 4.5% during the forecast period 2024 to 2031.
Automobiles were also used as personal or commercial vehicles and various technological advancements came along the way. Although various environmental concerns were raised against emission based fuels, but the growth did not stop as manufacturers found an alternate way to produce renewable based and energy efficient electric or solar-powered vehicles. This has helped with growth of digitalized services like on-demand vehicles and carpooling services like Uber, among others. With the advent of IoT and penetration of internet services, manufacturers have also introduced infotainment systems in-vehicles.
Key Findings of the Study
Increasing Road Traffic Resulting in Congestion and Fatal Accidents
As road traffic continues to surge worldwide, it serves as a primary driver for the expansion of the global automotive collision repair market. The escalating volume of vehicles on roads has led to a concurrent rise in traffic congestion and fatal accidents, necessitating increased demand for collision repair services.
In urban centres and major highways across the globe, burgeoning populations coupled with rapid urbanization have contributed to a significant uptick in road traffic. The resulting congestion not only leads to delays and frustration for commuters but also elevates the risk of vehicular collisions.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022
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Quantitative Units
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Revenue in USD Billion
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Segments Covered
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Product Type (Spare Parts, Replacement Parts, Paintings & Coatings, and Consumables), Repair Type (Dent Removal, Auto Glass Replacement, Straightening Out Bent Metal, Replacing Doors or Panels, Paint Matching, Scratch Removal, Auto Detailing, and Others), Service Channel (OE, DIFM (Do it for Me), and DIY (Do it Yourself)), Sales Channel (New OEM, Aftermarket, Recycled, Remanufactured, and Salvage), Shops Type (Auto Body Shops, Dealer Owned Shops, Independent Repair Shops), Vehicle Type (Passenger Cars, Commercial Vehicle, and Two Wheelers)
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Countries Covered
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U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Turkey, Belgium, Netherlands, Norway, Finland, Switzerland, Denmark, Sweden, Poland, Rest of Europe, Brazil, Argentina, Rest of South America, China, Japan, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, New Zealand, Philippines, Taiwan, Vietnam, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Kuwait, Oman, Bahrain, Qatar, and Rest of Middle East and Africa
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Market Players Covered
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DENSO CORPORATION (Japan), Robert Bosch GmbH (Germany), Continental AG (U.S.), 3M (U.S.), AISIN CORPORATION (Japan), VALEO S.A (France), Hyundai Motor Company (Korea), DuPont (U.S.), Nippon Paint Holdings Co., Ltd (Japan), Tenneco Inc (U.S.), Honeywell International Inc (U.S.), Henkel AG & Co. KGaA (Germany), Magna International Inc (Canada), OPmobility SE (France), FORVIA Faurecia (France), Martinrea International Inc (Canada), MANN+HUMMEL (Germany), Mitsuba Corp., ABRA Auto Body Repair of America (U.S.), Caliber Holdings LLC (U.S.), Gerber Collision & Glass (U.S.), ATP Automotive (U.S.), AMERICA'S AUTO BODY (U.S.), Jeff Schmitt (U.S.), Mitsuba (Japan), and Automotive Technology (U.S.) among othersAlly Financial Inc (U.S.), Bank of America Corporation (U.S.), Charles Schwab & Co., Inc. (U.S.), Interactive Brokers LLC (U.S.), Robinhood (U.S.), E*TRADE from Morgan Stanley (U.S.), ETORO USA LLC.(U.S.), IG Group Holdings plc (U.K.), Saxo Capital Markets Pte Ltd (Singapore), Ava Trade Markets Ltd. (Canada), TradeStation (U.S.), tastytrade, Inc., Social Finance, LLC (U.S.), Tickmill (Africa), FMR LLC (U.S.), Webull Financial LLC (U.S.), Moomoo Financial Inc (U.S.), and Public Holdings, Inc.(U.S.) among others.Siemens (Germany), Analog Devices, Inc. (U.S.), Schneider Electric (France), General Electric Company (U.S.), Mitsubishi Electric Corporation (Japan), FANUC America Corporation (U.S.), Honeywell International Inc. (U.S.), AMETEK Inc. (U.S.), ABB (Switzerland), KEYENCE CORPORATION (Japan), Hitachi Vantara LLC (U.S.), Rockwell Automation (U.S.), Emerson Electric Co (U.S.), Yokogawa Electric Corporation (Japan), Delta Electronics, Inc. (Taiwan), Fuji Electric Co., Ltd. (Japan), Endress+Hauser Group Services AG (Switzerland), OMRON Corporation (Japan), KUKA AG (Germany), Bosch Rexroth Corporation (Germany), Concept Systems (U.S.), MachineMetrics (U.S.), RPM International Inc.(U.S.), 3M (U.S.), BASF SE (Germany), Henkel Corporation (Germany), Sika AG (Switzerland), BMI Group Holdings UK Limited (U.K.), SOPREMA (France), Saint-Gobain Weber (France), Dow (U.S.), Johns Manville (U.S.), MAPEI S.p.A. (Italy), Akzo Nobel N.V (Netherlands), Henry Company (U.S.), KRATON CORPORATION (U.S.), Pidilite Industries Ltd. (India), Garland Industries, Inc. (U.S.), GAF, Inc. ( U.S.), H.B. Fuller Company (U.S.), Triflex (U.K.) Limited. (U.K.), Polyroof Products Ltd (U.K.), STP Limited (U.K.), Gaco.( U.S.), KEMPER SYSTEM (Germany), Triton Systems.( U.S.), Liquid Roofing Systems Ltd (U.K.), ALT Global, LLC (U.S.), Restec Roofing (U.S.), and Widopan Products GmbH (Germany), among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis
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Segment Analysis
The global automotive collision repair market is segmented into six notable segments which are product type, repair type, services channel, sales channel, shop type, and vehicle type.
- On the basis of product type, global automotive collision repair market has been segmented into spare parts, paintings & coatings, replacement parts, and consumables
In 2024, spare parts segment is expected to dominate Global Automotive Collision Repair Market
In 2024, spare parts segment is expected to dominate the global automotive collision repair market with 39.42% market share due to high demand and progression in automobile sector.
- On the basis of repair type, global automotive collision repair market has been segmented into dent removal, auto glass replacement, straightening out bent metal, replacing doors or panels, paint matching, scratch removal, auto detailing, and other
In 2024, dent removal segment is expected to dominate the Global Automotive Collision Repair Market
In 2024, dent removal segment is expected to dominate the global automotive collision repair market with 27.50% market share due to increasing road traffic resulting in congestion and fatal accidents.
- On the basis of service channel, global automotive collision repair market is segmented into OE, DIFM (do it for me) and DIY (do it yourself). In 2024, OE segment is expected to dominate the global automotive collision repair market with 71.62% market share
- On the basis of sales channel, global automotive collision repair market is segmented into new OEM, aftermarket, recycled, remanufactured, and salvage. In 2024, new OEM segment is expected to dominate the global automotive collision repair market with 42.87% market share
- On the basis of shop type, global automotive collision repair market is segmented into auto body shops, dealer owned shops and independent repair shops. In 2024, auto body shops segment is expected to dominate the global automotive collision repair market with 59.46% market share
- On the basis of vehicle type, global automotive collision repair market is segmented into passenger cars commercial vehicle, and two wheelers. In 2024, passenger cars segment is expected to dominate the global automotive collision repair market with 61.38% market share
Major Players
Data Bridge Market Research Analyzes DENSO CORPORATION (Japan), Robert Bosch LLC (Germany), Continental Automotive Technologies GmbH (U.S.), 3M (U.S.), Tenneco Inc (U.S.) as the major players operating in the global automotive collision repair market.
Market Development
- In March 2024, DRiV expanded its product coverage in the Americas by introducing 181 new part numbers across its leading brands, including Monroe, MOOG, Walker, Wagner, and Beck-Arnley during the first two months of 2024. These additions provide millions of additional repair occasions, covering approximately 97 million vehicles on the road. This initiative demonstrates DRiV's commitment to providing comprehensive coverage and quality parts for shop owners and technicians
- In May 2024, AISIN CORPORATION showcased its advancements at the Automotive Engineering Exposition 2024, emphasizing "electrification" products and technologies for carbon neutrality and enhanced mobility. The lineup featured electric drive units for various vehicles, including the energy-efficient Xin1 eAxle and 1-motor hybrid transmission. Additionally, safety and comfort technologies like door co-pilot and optimal parking recommendations were highlighted. This exposition boosts AISIN's growth potential by showcasing its innovative solutions in electrification and mobility, attracting potential partners and customers, and enhancing its reputation as a leader in automotive technology
- In April 2023, DRiV inaugurated a fully-automated shuttle and packaging system at its European Center in Belgium This USD 12 million investment in automation significantly improves customer service by expediting delivery of DRiV’s automotive brands. The system allows for faster order processing, increased picking accuracy, and reduced delivery times, enhancing support for e-commerce solution. With its strategic location, the center ensures greater parts availability and quicker deliveries to Western and Eastern Europe, the Middle East, and North Africa
- In February 2022, American Auto Body in Billings, Montana, has expanded its operations through an acquisition by Crash Champions, LLC. This move provides American Auto Body with new avenues for employee growth and enhances customer experiences, maintaining its commitment to delivering top-notch repairs and service
- In February 2022, DuPont's agreement to sell most of its Mobility & Materials segment, including the Engineering Polymers business line, to Celanese for USD 11.0 billion marks a major milestone in its transformation into a premier multi-industrial company. This strategic move streamlines DuPont's operations, enabling a focused approach on growth areas like electronics, water, industrial technologies, and next-generation automotive. The sale is expected to deliver substantial value to DuPont's shareholders and enhances its position for long-term success in the automotive parts market
Regional Analysis
Geographically, the countries covered in the global automotive collision repair market report are U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Turkey, Belgium, Netherlands, Norway, Finland, Switzerland, Denmark, Sweden, Poland, rest of Europe, Brazil, Argentina, rest of South America, China, Japan, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, New Zealand, Philippines, Taiwan, Vietnam, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Kuwait, Oman, Bahrain, Qatar, and rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
North America is expected to dominate the Global Automotive Collision Repair Market
North America is expected to dominate the automotive collision repair market due to its larger market capitalization, technological innovation, and presence of major automotive manufacturers.
Asia-Pacific is expected to be the fastest growing region in the Global Automotive Collision Repair Market
Asia-Pacific is expected to be the fastest growing region in the global automotive collision repair market due to advancements in automotive repair technology in the region.
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