Automotive Collision Repair Market Size, Share & Trends Analysis Report By Product (Paint & Coatings, Consumables), By Vehicle Type (Light-duty Vehicle, Heavy-duty Vehicle), By Service Channel, By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the automotive collision repair market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for automotive collision repair market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of automotive collision repair market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Automotive Collision Repair Market Categorization:

The automotive collision repair market was categorized into four segments, namely product (Paints & coatings, Consumables, Spare parts), vehicle type (Light-duty vehicle, Heavy-duty vehicle), service channel (DIY, DIFM, OE), and region (North America, Europe, Asia Pacific, South America, Middle East & Africa).

Segment Market Methodology:

The automotive collision repair market was segmented into product, vehicle type, service channel, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The automotive collision repair market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into ten countries, namely, the U.S.; Canada, Mexico; the UK; Germany; France; China; India; Japan; and Brazil.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Automotive collision repair market companies & financials:

The automotive collision repair market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• 3M - 3M is a conglomerate based in the U.S. operating in industrial engineering and related services. The company offers a wide range of products to customers through five business groups: consumer, industrial, safety & graphics, healthcare, and electronics & energy markets. Automotive Aftermarkets Division (AAD) is a part of the safety and industrial segment of the company and is involved in vehicle care and repair. The firm’s product offering includes abrasives, adhesives, buffing pads, cleaners & removers, headlight lens restoration, coatings, body filler, masking, seam sealers, paint booth protection, welding and compounds, and polishes & glazes. 3M AAD provides distributors with information, knowledge, and skills required to perform complete and safe repairs through approved training providers. The company has a vast geographic presence across regions, including MEA, APAC, Americas, and Europe. The critical competitors for 3M include Mann+Hummel Group(Germany) and Robert Bosch GmbH (Germany). The firm markets its products through a network of distributors around the globe.

• Automotive Technology Products LLC (ATP.) - Automotive Technology Products LLC is based in the U.S. and provides aftermarket replacement parts for automatic transmissions. Initially, ATP supplied only mechanical transmission replacement parts. However, over the years, the company diversified its offerings to include repair kits, flywheel & ring gears, chemicals, cables, cabin air filters, and automatic transmission filter kits to its product portfolio. The company offers a wide range of products to its customers and includes automatic transmission, cabin air filters, fluids & additives, manual transmission, cables, engines, and line splices.

• Continental AG - Continental AG is a German-based automotive manufacturing company. The firm operates through three business segments: automotive technologies, rubber technologies, and powertrain technologies. The automotive technologies segment consists of autonomous mobility and safety and vehicle networking and information. The rubber technology consists of tires and ContiTech divisions. Powertrain technologies encompasses technolgoies related to powertrain systems. Continental AG is a publicly operated firm listed on Frankfurt Stock Exchange as FWB: CON. The subsidiaries of the firm include ContiTech, Continental Tire Canada, and Continental Automotive Systems. The company offers automotive solutions for two wheelers, trucks, bicycles, agricultural products, and cars. The firm has vast geographic footprints with offices and facilities across regions including APAC, Europe, the MEA, and Americas.

• Denso Corporation - Denso Corporation is based in Japan and is a global supplier of advanced automotive technologies, components, and systems. Initially, the company was a part of Toyota Motors, and it became independent in 1949. The company comprises various business segments, including powertrain control systems, thermal systems, electrification systems, mobility systems, sensors & semiconductors, non-automotive businesses. Denso extensively offers gasoline and diesel engine control systems and related products, hybrid and electric car products, powertrain products, and power supply and starting system parts such as alternators and starters.

• Faurecia - Faurecia is based in France and manufactures vehicle interiors, door exhaust systems, and front-end systems. The company’s business segments include seating, interior, clean mobility, and clarion electronics. Seatings include padding, seat covers, frames, mechanisms, and motors. The interiors consist of cockpits, instrument panels & center consoles, acoustic products, door panels & modules, and modules & decorative components such as film, paint, aluminum, and wood.

• Federal-Mogul LLC - Federal-Mogul LLC is based in the U.S. and is a developer, manufacturer, and supplier of powertrain and vehicle safety products. The company supplies products & services to automotive servicers and manufacturers of vehicle equipment in the light, automotive, power generation, marine, aerospace, medium & heavy-duty commercial, rail, and industrial markets. The company operates under two distinct segments; powertrain and motor parts. In April 2018, the company announced that Tenneco acquired it. The company sells and distributes products through recognized brands such as Anco wiper blades, Champion spark plugs, Sealed Power engines, Speed Pro, Wagner brake products, MOOG steering and suspension parts, and Fel-Pro gaskets in the global vehicle aftermarket. It also serves products to original equipment vehicle manufacturers, including braking, wipers, chassis, and other associated vehicle components. The company’s offerings include suspension and steering parts, engine products, wiper blades, spark plugs, wipers & filters, and brake products in the collision repair market. The firm has a vast geographic presence across regions, including APAC, Americas, Europe, and MEA.

• Honeywell International, Inc. - Honeywell International, Inc. is a diversified manufacturing and technology company based in the U.S. that provides aerospace products and services, turbochargers; performance materials; and control technologies for buildings, homes, and industry. The company offers a wide range of products through its business segments; Aerospace, Performance Materials & Technologies, Honeywell Building Technologies, and Automation and Control Solutions. In October 2018, Honeywell International Inc. announced the spin-off of its transportation systems business from the company. The new company has been named Garrett Motion Inc.

• International Automotive Components Group - International Automotive Components Group is a Luxembourgbased automotive parts manufacturer. The company is a supplier of automotive interior parts, such as consoles & cockpits, headliners, instrument panels & consoles, headliners & overhead systems. The company collaborates with many global automotive interior manufacturers, such as Stankiewicz, United Technologies, Automotive Industries, and Masland Industries. The company’s plastic, fabric, and leather parts are supplied to every major automotive company worldwide, such as Ford and GM in the U.S.; Daimler and Volkswagen in Germany; and Honda and Toyota in Japan. The firm has a vast geographic presence across regions, including North America, Europe, and Asia. The company markets its products through its subsidiaries and distributors around the globe.

• Johnson Controls, Inc. - Johnson Controls, Inc. is based in the U.S and is a manufacturer and supplier of automotive electronics and body parts. The company operates through three primary businesses automotive experience, building efficiency, and power solutions. Johnson Control, Inc. is a publicly operated company listed on the New York Stock Exchange as NYSE: JCI. In October 2016, the company completed its spin-off to form Adient plc, an automotive seating, and interiors provider. Adient plc. has its presence in Europe, the Americas, and China. The company has 234 assembly and manufacturing plants in more than 30 countries. Lear Corporation, Magna International Inc., and Faurecia SA are Adient plc.’s, principal competitors.

• MAGNA INTERNATIONAL INC.- Magna International Inc. is based in Canada and is a supplier of automobile parts. Magna International’s capabilities include engineering, design, and manufacture & testing of diverse automotive systems. The product line comprises interior, exterior, powertrain, vision, closure, seating, body & chassis systems, roof systems, electronic systems, vehicle engineering & contract assembly, and hybrid & electric vehicle systems. The company has a vast geographic presence with manufacturing facilities and product development centers across regions, including the Americas, Europe, APAC, and MEA. The firm markets its products through subsidiaries and distributors across the globe. The acquisition of the UK-based Stadco Automotive in 2015 enabled Cosmas International, an operating unit of Magna, to expand its geographic presence.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Automotive Collision Repair Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2017 to 2030, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Automotive Collision Repair Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.