North America Automotive Collision Repair Market Revenue to Exceed USD 105 Billion by 2027

By 2027, North America automotive collision repair market share from the new OEM segment is projected to grow at over 2.4% CAGR through 2027. With full-service collision repair services offering expertise, special techniques, and advanced technologies at reasonable costs, North America automotive collision repair market forecast is set to attain a considerable revenue through the next six years. An increasing number of SUVs, BEVs, and HEVs have been seeing registrations since automakers are launching latest versions of luxury cars. Even though the COVID-19 pandemic affected consumer demand for automobiles and automobile repair services during 2020, the rollout of vaccines in 2021 is likely to stabilize the automotive collision repair industry over the next few months.

As curfews and lockdowns are being withdrawn across several regions in North America, the raw material supply chains and manufacturing operations of automakers are likely to resume. Several companies and automakers are focusing on the expansion of their service networks, particularly across tier 2 and tier 3 cities. As a result, in terms of source, the new OEMs might continue to be the primary providers of collision repair parts.
 
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The industry share from the passenger carrying vehicle (PCV) segment was accountable for a staggering 45% of the total automotive collision repair market share in North America during 2020. The next six years are likely to see fresh opportunities for market expansion, fueled by the growing per capita incomes of customers alongside the frequent introductions of new models and iterations of passenger cars, particularly across the SUVs segment. As more and more vehicles enter the market, the growing traffic congestion is resulting in higher number of automotive accidents and collisions, adding impetus to North America automotive collision repair industry forecast.

 
Road traffic crashes are one of the leading causes of death across the United States. As per the U.S. National Highway Traffic Safety Administration (NHTSA), during the first nine months of 2020, more than 28,190 individuals died in motor crashes across the U.S. As per these estimates, there was an increase of over 4.6% as compared to 26,942 fatalities registered over the first nine months of 2019. During the pandemic, fast driving was responsible for an increased number of road accidents in the region. As several areas are witnessing increasing traffic with the elimination of stay-at-home orders, North America automotive collision repair market size is certain to grow through 2027.
 
The sales of Light Commercial Vehicles (LCVs) have been witnessing an uptick in the past few years. The booming international trade coupled with the expansion of highways and logistics infrastructure across Canada and the U.S. has been generating more demand for commercial vehicles. Several leading automobile manufacturers including Nissan have been offering a host of latest technologies and a revamped appearance of their new models of their SUVs, PCVs, and LCV trucks and cars. Leading automakers have been focusing on expansion of their product portfolios, fueling North America automotive collision repair market.
 
For instance, recently, in April 2021, U.S. based automobile giant Ford Motor Company announced its plan of investing about $300 million toward the development of a new light commercial vehicle (LCV) at its Craiova plant in Romania. A fully electric version of the same is expected to enter the market by 2024.
 
 
Dupont, Honeywell International Inc., Denso Corporation, Caliber Collision, Henkel AG & Co., Tenneco Inc, Magna International, Eastman Chemical Company, Mann + Hummel, and Continental Corporation are some leading automotive collision repair service providers in North America.
 
Table of Contents (ToC) of the report:
 
Chapter 1   Methodology & Scope
 
1.1    Research Methodology
 
1.2    Market estimation & forecast parameters
 
1.3    List of Data sources
 
1.3.1    Primary
 
1.3.2    Secondary
 
Chapter 2   Executive Summary
 
2.1    North America automotive collision repair market snapshot
 
Chapter 3   North America Automotive Collision Repair Industry Insights
 
3.1    Industry coverage
 
3.2    Industry size and forecast, 2017 – 2027
 
3.3    Industry ecosystem analysis
 
3.3.1    Vendor matrix
 
3.4    Future trends
 
3.4.1    Innovation Landscape
 
3.5    Raw material analysis
 
3.6    Regulatory norms & directives
 
3.7    Drivers & restraints
 
3.7.1    Drivers
 
3.7.2    Restraints
 
3.8    Application growth mapping
 
3.9    Industry analysis: Porter’s
 
3.10    Competitive benchmarking
 
3.10.1    Strategy dashboard
 
3.11    PEST analysis
 
 
About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

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