India Automotive Collision Repair Market Outlook
According to a new report by Expert Market Research titled, “India Automotive Collision Repair Market Price, Size, Trends, Analysis, Report and Forecast 2024-2032″, the automotive collision repair market is projected to grow at a CAGR of 3.7% between 2024 and 2032. Aided by the rising cases of road accidents and growing car ownership among middle class population, the market is expected to grow significantly by 2032.
Automotive collision repair services primarily cater to vehicles that have experienced accidents, ensuring they are returned to their original pre-accident condition. Such services encompass paintwork repair to scratches, dents, and scraped surfaces, as well as the replacement of parts that cannot be mended. As more people in India become car owners, the demand for these services rises concurrently, with vehicles being fundamental to daily transportation for many.
The burgeoning middle class in India, coupled with affordable vehicle financing options, has significantly propelled vehicle ownership. However, this uptrend in vehicle numbers is shadowed by a surge in road mishaps, often attributed to overpopulated roads, insufficient infrastructure, and sometimes, driving negligence.
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The frequency of these accidents directly fuels the India automotive collision repair market growth, with car owners seeking reliable and timely services to restore their vehicles. Moreover, the increasing consumer preference for branded car repair and service centres over local garages, due to the perceived assurance of quality, has given a substantial boost to the organised sector of the collision repair market in India.
As per the India automotive collision repair market analysis, the advancement in automotive technologies and the intricacies involved in modern car systems make specialised services essential. Advanced Driver Assistance Systems (ADAS) equipped in modern vehicles, for instance, necessitate specialized recalibration post-collision. This evolving technological landscape of the automotive industry reinforces the need for specialized collision repair services.
However, the introduction and rising popularity of electric vehicles (EVs) in the automotive collision repair market introduces a new dimension to the collision repair industry. EVs, with their unique build and fewer moving parts, might reduce the frequency of certain repair jobs, challenging the conventional repair market. Nevertheless, their sophisticated electronics and battery systems may create a niche demand for specialized repair services.
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Furthermore, the rise of digital platforms offering repair and maintenance bookings online has added convenience for consumers. It not only ensures transparency in services rendered but also aids in maintaining a standardized quality of service across the board. As digitization deepens its roots in India, these platforms are predicted to boost the India automotive collision repair market demand.
India Automotive Collision Repair Market Segmentation
The market can be divided based on product type, vehicle type, service channel, and region.
Market Breakup by Product Type
- Paints and Coatings
- Consumables
- Spare Parts
- Others
Market Breakup by Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Two Wheelers
- Others
Market Breakup by Service Channel
- Authorised Service Centres
- Unauthorised Service Centres (Local Garages)
- Multi-Brand Service Centres
Market Breakup by Region
- North India
- South India
- East India
- West India
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India automotive collision repair market. Some of the major players explored in the report by Expert Market Research are as follows:
- ATS ELGI
- Bosch Limited
- 3M India Limited
- Denso corporation
- Mirka Ltd.
- Snap-on Tools Pvt. Ltd
- Henkel Adhesives Technologies India Private Limited
- Saint-Gobain India
- Others
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