Europe Automotive Collision Repair Market Revenue to Exceed USD 80 Billion by 2027

On this note, the Europe automotive collision repair market is anticipated to register a value of USD 80 billion by the end of 2027. Europe is home to some of the best automotive brands in the world. These companies are always on the lookout for expanding their operation in remote areas of the region. Europe also has some of the densest cities, area-wise. Combining this with growing vehicular sales, the chances of road collisions and accidents increase. This paves way for a growing network of collision repair services in the region, this expanding business size.

Although the Europe automotive collision repair market showcases great potential for growth, the ongoing COVID-19 pandemic has severely affected the industry. The vehicle production witnessed historic lows owing to dipped consumer demands. This was the case in countries like Italy, Germany and France where the number of COVID-19 patients was significantly higher.
 
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Also, with lockdown restrictions, people stayed indoors which reduced the usage of vehicles, thus reducing the number of road collisions and accidents and negatively affecting the market growth. However, with the introduction of vaccines and reopening of businesses and travel, the market for automotive collision repair in Europe will possibly augment during the projected timeframe.

 
Paints & coatings crucial to industry growth
 
Europe automotive collision repair market revenue from paints and coatings is poised to grow at 2.1% rate through the projected timeframe. This is because a vehicle’s exterior is affected the most in the event of a collision and chips off the paint.
 
The number of passenger cars has increased significantly in Europe over the years. Rapid urbanization coupled with growing household incomes has increased the number of private car owners.
 
This increases the vehicle density in urban areas, thus increasing the probability of accidents and collisions. Also, major market players like Robert Bosch have expanded their repair and service network across the region to cater to increasing passenger cars. Owing to these reasons, passenger cars accounted for 60% of market share in 2020.
 
With growing car ownerships, there has also been a rising consensus towards maintaining the ecological balance. This is shifting consumers’ focus towards recycled materials. In addition, these materials are also cost-effective when it comes to repairing or even exchanging them. Driven by these factors, the recycled source segment will significantly expand with a CAGR of 2.1% during the projected timespan.
 
While on the topic, many aftermarket firms are expanding their product portfolio for catering to a wide consumer range. The provision of reliable and superior products & services to consumers will contribute to the expansion of the segment, which is predicted to grow at a rate of 2.3% throughout the stipulated timespan.
 
 
Furthermore, the aftermarket segment will grow with rising interest of consumers in repairing their own vehicles. This is mainly due to increased products’ costs coupled with rising labor costs. This DIY approach is also encouraged by the availability of complicated parts on e-commerce websites. similar factors will contribute to the augmentation of the Europe automotive collision repair market share.
 
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    Europe automotive collision repair market snapshot

Chapter 3   Europe 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

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1775/europe-automotive-collision-repair-market
 
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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