Dublin, Aug. 19, 2024 (GLOBE NEWSWIRE) — The “Europe Automotive Collision Repair Market Size, Share & Trends Analysis Report by Vehicle (Light-duty, Heavy-duty), Product (Consumables, Spare Parts), Service Channels, Country, and Segment Forecasts, 2024-2030” report has been added to ResearchAndMarkets.com’s offering.
The Europe automotive collision repair market size is anticipated to reach USD 89.45 billion by 2030 and is growing at a CAGR of 0.9% from 2024 to 2030
The market is anticipated to experience continued growth due to the rise in automobile insurance subscriptions and technological progressions in the automotive industry. The increasing incidence of road accidents and fatalities drives the market. In addition, a significant driver of market expansion is the availability of Do-It-Yourself (DIY) kits offered by numerous automobile retailers, catering to consumers who opt to repair their vehicles independently.
The prevalence of road accidents and collisions across Europe is a significant driver of demand for collision repair services. With millions of vehicles on the roads, accidents are inevitable, leading to a constant need for repair services to restore damaged vehicles to their pre-accident condition. Factors such as varying road conditions, traffic congestion, and diverse driving behaviors contribute to the frequency and severity of accidents, creating a steady demand for collision repair services throughout Europe.
Furthermore, economic factors such as GDP growth, consumer spending, and insurance trends also impact the demand for collision repair services in Europe. Economic downturns or fluctuations in consumer confidence may lead to reduced spending on automotive repairs and maintenance, affecting the volume of business for collision repair shops. Conversely, growth in vehicle ownership, increased miles driven, and changes in insurance coverage policies drive demand for collision repair services, presenting opportunities for growth and expansion within the market.
Europe Automotive Collision Repair Market Report Highlights
- Based on vehicle, light-duty vehicle held the highest market share of 80.76% and is the fastest growing segment in 2023. Advancements in technology, such as improved fuel efficiency and enhanced safety features, have contributed to the increasing popularity of this segment
- Based on product, spare parts held the highest market in the forecast period. An increase in road accidents leads to vehicle parts damage, eventually increasing the demand for spare parts. Paints & coatings is the fastest growing segment. Roadside accidents are increasing the demand for paints and coating materials
- Based on service channel OE (handled by OEM’s) held the highest market share in the forecasted period. The expansion of vehicle leasing and subscription models, particularly in urban areas, has boosted the demand for OEM service channels, as leasing companies and fleet operators prioritize authorized servicing to maintain vehicle value, reliability, and safety
- DIY (Do It Yourself) is the fastest-growing service channel segment. The availability of affordable and high-quality aftermarket parts and tools and an increase in DIY-friendly vehicle designs that prioritize accessibility and user-friendliness have further led to the growth of this segment
- In December 2022, Axalta collaborated with Steer Automotive Group. Axalta is supplying its high-quality refinish brand, Standox, to all 57 UK sites of Steer Automotive Group for automotive applications. This collaboration was designed to improve operational efficiency and achieve shared success, highlighting Axalta’s dedication to delivering top-notch solutions to support Steer Automotive Group’s growth objectives both in the present and in the future
Companies Featured
- 3M Company
- Automotive Technology Products LLC
- Continental AG
- Denso Corporation
- Faurecia (Groupe PSA)
- Honeywell International, Inc.
- International Automotive Components (IAC) Group
- Magna International, Inc.
- Robert Bosch GmbH
- Tenneco, Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 90 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $84.02 Billion |
| Forecasted Market Value (USD) by 2030 | $89.45 Billion |
| Compound Annual Growth Rate | 0.9% |
| Regions Covered | Europe |
Key Topics Covered:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Segment Definitions
1.2.1. Vehicle
1.2.2. Product
1.2.3. Service Channel
1.2.4. Country
1.2.5. Estimates and forecasts timeline
1.3. Research Methodology
1.4. Information Procurement
1.5. Research Scope and Assumptions
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Europe Automotive Collision Repair Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.1.1. Increasing incidence rate of road accidents
3.3.1.2. Growing number of vehicles on the road
3.3.2. Market Restraint Analysis
3.3.2.1. Road safety regulations
3.3.3. Market Opportunity Analysis
3.3.3.1. Increasing emphasis on electric vehicles
3.4. Europe Automotive Collision Repair Market Analysis Tools
3.4.1. Industry Analysis – Porter’s
3.4.2. PESTEL Analysis
Chapter 4. Europe Automotive Collision Repair Market: Vehicle Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Europe Automotive Collision Repair Market: Vehicle Movement Analysis, 2023 & 2030 (USD Billion)
4.2.1. Light-duty Vehicle
4.2.2. Heavy-duty Vehicle
Chapter 5. Europe Automotive Collision Repair Market: Product Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Europe Automotive Collision Repair Market: Product Movement Analysis, 2023 & 2030 (USD Billion)
5.2.1. Paints & Coatings
5.2.2. Consumables
5.2.3. Spare Parts
Chapter 6. Europe Automotive Collision Repair Market: Service Channels Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Automotive Collision Repair Market: Service Channels Movement Analysis, 2023 & 2030 (USD Billion)
6.2.1. DIY (Do It Yourself)
6.2.2. DIFM (Do It For Me)
6.2.3. OE (handled by OEM’s)
Chapter 7. Europe Automotive Collision Repair Market: Country Estimates & Trend Analysis
7.1. Europe Automotive Collision Repair Market Share, By Country, 2023 & 2030 (USD Billion)
7.2. Germany
7.3. UK
7.4. France
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Company Categorization
8.3. Company Market Positioning
8.4. Company Heat Map Analysis
8.5. Strategy Mapping
8.5.1.1. Expansion
8.5.1.2. Mergers & acquisition
8.5.1.3. Partnerships & collaborations
8.5.1.4. New product launches
8.5.1.5. Research and development
8.6. Company Profiles
8.6.1. Company overview
8.6.2. Financial performance
8.6.3. Product benchmarking
8.6.4. Strategic initiatives
For more information about this report visit https://www.researchandmarkets.com/r/yuzjpq
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- European Automotive Collision Repair Market
