U.S. Automotive Collision Repair Market Explore Growth Of $33.75 Billion By 2025: Grand View Research, Inc.

October 08 02:44 2019
U.S. Automotive Collision Repair Market Explore Growth Of $33.75 Billion By 2025: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, Increasing digitalization in automotive repair and maintenance services has transformed the U.S. automotive collision repair market.

According to a report,”U.S. Automotive Collision Repair Market Size, Share & Trends Analysis Report By Vehicle Type (Light-Duty Vehicle, Heavy-Duty Vehicle), By Product Type, By Service Channel And Segments Forecasts, 2019 – 2025″, published by Grand View Research, Inc., The U.S. automotive collision repair market size is expected to reach USD 33.75 billion by 2025, registering a 1.5% CAGR from 2019 to 2025. The market is expected to grow owing to the rising adoption of automotive technologies in automotive fabrication. The increasing use of 3D printing in applications such as automotive fabrication and prototyping has also led to the increased adoption of automotive collision repair services by automakers in the industry. Moreover, the growing focus of manufacturers on technology proliferation and increasing investments in research & development activities are also expected to contribute to market growth.

Increasing digitalization in automotive repair and maintenance services has transformed the U.S. market. Several startups are now offering online services for regular maintenance as well as for repairing of cars. For instance, Repair Pal, an auto repair and maintenance service app, offers repairing and pickup & drop services to users seeking assistance in case of car crashes, even in remote locations. These services enable users to get on-demand professional repair services at their homes or offices. Users are also given options to select their technicians based on the type of vehicle and repairing services required.

However, environmental concerns associated with the use of some of the repairing materials are hampering the market growth. For instance, paints and coatings contain high amounts of hazardous Volatile Organic Compounds (VOCs), which cause air pollution. This has led the U.S. government to set up regulations banning the use of hazardous paints and coatings. For instance, The U.S. EPA Design for Environment (DfE) Automotive Refinishing Partnership works in collaboration with auto repairing and refinishing shops to develop guidance documents and helpful checklists. Auto repairing and maintenance shops are obligated to follow these general health and safety checklists in their day-to-day operations to decrease the proportion of hazardous waste produces.

Key Takeaways from the report:

  • Increased demand for higher-priced products such as advanced glass products and performance tires, electrochromic mirrors, and solar control windows are anticipated to boost the sale of repair parts in the country

  • Increasing use of sophisticated safety equipment in vehicles has resulted in the higher cost of collision repairs

  • The rapidly evolving paint and coating technology in the automotive industry to meet the latest protective automobile materials and aesthetic demands are expected to drive the U.S. automotive collision repair market growth

  • Increasing demand among customers for repair warranty is one of the major factors supporting the growth of the OE segment in the market

  • Governments and transport authorities across different countries have made it mandatory for customers to obtain insurance coverage, which is expected to contribute to the market growth

  • Stringent government regulations and safety guidelines regarding the use of hazardous materials for automotive collision repair are anticipated to challenge the market growth

  • The industry is witnessing a trend of strategic alliances and collaborations among collision repair centers and leading auto insurance companies to gain a competitive edge in the market.

U.S. automotive collision repair market size, by vehicle type, 2014 - 2025 (USD Billion)

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U.S. automotive collision repair market share, by service channel, 2018 (%)

U.S. Automotive Collision Repair Market Share Insights

Prominent players active in the U.S. market for automotive collision repair include ZF Friedrichshafen AG, Valeo, Federal-Mogul Corporation, Faurecia, Continental Corporation, and 3M. Companies have started offering online services for regular maintenance as well as for repairing of cars. For instance, Federal-Mogul Motorparts’ Garage Gurus, an all-inclusive technical education platform, provides on-demand, online, and on-site support and training to several shop owners, service writers, and technicians. Moreover, Continental Collision covers all main insurance types and is a Factory Certified Auto Body Collision Center for several leading automobile manufacturers such as Honda, Infiniti, Mercedes-Benz, Nissan, and Subaru.

Companies are also adopting strategies such as mergers and acquisitions to strengthen their position in the market. For instance, in May 2016, Mann+Hummel Group acquired Affinia Group, a manufacturer of aftermarket filters based in the U.S. This initiative enabled the company to enhance its filter product offering for automotive repairs and services by adding two brands of Affinia Group, namely Wix Filter and Filtron. On the other hand, Affinia Group was able to reach diverse market segments.

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About Grand View Research, Inc.

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

 

 

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