Automotive Collision Repair Market -Current Trends and Development & Potential of Market CAGR 3.3% forecasted period 2020-2026

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Automotive Collision Repair Market is expected to
be USD 305 billion by 2026
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Industry Overview

• The Automotive Collision Repair Market is poised
  to grow remarkably by 2026 owing to factors like
  increasing number of road accidents and higher
  road density. Rise in passenger car repairs is
  estimated to be one of the key determinants for
  overall market growth. The need to offer better
  repair services has encouraged companies to
  introduce new, technologically advanced products
  and services. In 2020, The Society of Collision
  Repair Specialists announced the availability of
  its award-winning software Blueprint
  Optimization Tool for repairers. The tool will
  allow collision repair service providers to
  automatically apply the SCRS guide to estimate
  and identify overlooked items.
• With such developments, Global Market Insights,
  Inc., suggests that the automotive collision
  repair market may exceed USD 305 billion by 2026.
  This can also be subjected to robust developments
  by OEMs to improve vehicle maintenance and
  service quality. Independent repair shops are
  meanwhile set to record the largest market share
  owing to their ability to service vehicles of
  multiple brands.

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Continue

• Elaborating on some of the ongoing trends in
  automotive collision repair market
• 1) Paints coatings products registering high
  demand
• 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.
• 2) Environmental concerns fueling the use of
  recycled parts
• 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.
  According to Recycling Partnerships State of
  Curbside Recycling 2020 report, an estimated 1.6
  billion pounds of PP is expected to be available
  per year from single-family homes that can be
  recycled into products like automotive parts.

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Automotive Collision Repair Market

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