U.S. Automotive Collision Repair Market

U.S. Automotive Collision Repair Market Revenue Drivers, Growth Opportunities, Value Chain Analysis and Forecast Research Report Till 2025

“The United States automotive collision repair market size is anticipated to account for USD 37.60 billion by the end of 2025, according to the Million Insights. It is likely to exhibit 1.5% CAGR over the forecast duration.”

The U.S. Automotive Collision Repair Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview: The United States automotive collision repair market size is anticipated to account for USD 37.60 billion by the end of 2025, according to the Million Insights. It is likely to exhibit 1.5% CAGR over the forecast duration. Increasing sales of automotive in the country is a major factor driving the market growth. In addition, a rise in the use of innovative technologies such as 3D printing has led to the improvement in services by service providers. Considering the growing demand for collision repair services, industry participants are increasingly investing in research and development to come up with a new solution.

Key Players:           

3M Automotive Technology Products LLC (ATP.) Continental AG Denso Corporation Faurecia Federal-Mogul LLC Honeywell International, Inc. International Automotive Components Group Johnson Controls, Inc. Magna International Inc. Mann+Hummel Group

Request free sample to get complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/us-automotive-collision-repair-market/requestsample Growth Drivers: Increasing telematics adoption in the U.S. automotive industry is further anticipated to spur the market growth. Technically advanced telematics helps in recording real-time vehicle data and sync the retrieved data with servers. Telematics devices logs are decoded through specific systems available at certified repair shops. Thus, this solution gives an edge to the repair shops owned by companies.

Technical advancements in collision repair and mandatory modification in insurance policies have positively affected the market growth. Standard and shared guidelines for automotive damaged repair parts have ensured transparency and efficiency. Further, technologies have helped in streamlining the repair and appraisal processes. Moreover, customers get information about the repairing wo rks in realtime. Factors such as high disposable income and increasing living standard have influenced the vehicle demand. Therefore, the increasing number of automotive sales positively affects market growth. In addition, the country has stringent regulations pertaining to carbon emission, which has led to the increasing use of aluminum.

Product Type Outlook:   

Paints & Coatings Consumables Spare Parts

Vehicle Type Outlook:  

Light-duty vehicles Heavy-duty vehicles

Service Channel Outlook:   

DIY (Do it Yourself) DIFM (Do it for Me) OE (Handled by OEMs)

The DIY category is likely to account for a considerable share in the market over the forecast duration owing to the changing consumer preferences and increasing awareness about the replacement of various parts such as tires and headlight. DIFM segment is projected to register the highest growth over the forecast duration owing to the rising need for replacement of bigger parts such as suspension systems, clutch and transmission components among others.

COVID-19 Impact Insights: The market has been worst hit due to the COVID-19 outbreak. The country has enforced restriction on the operation of various businesses to contain the spread of coronavirus. With people staying indoors and work from home becoming new normal, there has been a significant decline in the number of onroad traffic. Thus, the country has witnessed significantly less number for collision accidents, which, in turn has led to a decline in the demand for this market. However, with the systemat ic opening of various businesses, automotive sales are anticipated to surge in the near future, thereby, helps in recovering the market.

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