The Latest Collision Industry Statistics Explained
The global Automotive Collision Repair market size is expected to reach USD 208.2 billion by 2027.
This statistic indicates a projected growth in the global Automotive Collision Repair market, with the market size expected to increase to USD 208.2 billion by the year 2027. This represents a substantial rise in the value of the market, pointing towards an increasing demand for automotive collision repair services worldwide. Factors such as the rising number of vehicles on the roads, technological advancements in repair techniques, and a growing focus on vehicle safety and maintenance are likely contributing to this anticipated growth. The forecasted market size suggests opportunities for businesses in the automotive repair industry to expand their operations and cater to the escalating needs of consumers for collision repair services in the coming years.
There are over 233,550 auto repair businesses in the United States.
This statistic indicates that there are a substantial number of auto repair businesses operating in the United States, with over 233,550 establishments offering services related to automotive maintenance and repair. The large quantity of such businesses likely reflects the high demand for these services throughout the country, stemming from the significant number of vehicles on the roads requiring regular upkeep and repairs. This statistic also highlights the competitive nature of the auto repair industry, with a diverse range of businesses catering to the needs of car owners across various regions in the US. Furthermore, the presence of numerous auto repair businesses signifies the importance of the automotive service sector in supporting the transportation infrastructure and economy of the United States.
The collision repair industry in the U.S. generates around $48 billion in revenue each year.
The statistic “The collision repair industry in the U.S. generates around $48 billion in revenue each year” provides an estimate of the total annual revenue generated by collision repair businesses in the United States. This figure takes into account the income generated from repairing vehicles involved in accidents, whether minor dents or major collisions. The $48 billion revenue indicates the significant economic activity and scale of the collision repair industry in the country, highlighting the demand for these services. This statistic can be used to understand the size and importance of the collision repair market within the broader automotive industry, informing strategic decisions and investments in this sector.
Approximately 70% of collision repair shops in the U.S. are independently owned.
This statistic indicates that the majority of collision repair shops in the United States are not part of a larger corporate chain or franchise, but rather are independently owned businesses. This suggests a decentralized market structure within the collision repair industry, where ownership is spread across a large number of individual shop owners. This could have implications for competition, pricing, and service quality within the industry, as independent shops may have varying levels of resources and capabilities compared to larger corporate-owned chains. Understanding the prevalence of independently owned collision repair shops can provide insights into the overall landscape of the industry and potentially influence business strategies and regulatory considerations.
The average age of collision repair shops in the U.S. is about 38 years.
The statistic that the average age of collision repair shops in the U.S. is about 38 years means that, on average, these businesses have been operating for a significant amount of time. This could indicate that the industry has a relatively stable base of well-established businesses that have been able to withstand operational challenges and changes over the years. It may also suggest that there is a level of experience and expertise within the industry, as older businesses have likely accumulated knowledge and skills that contribute to their longevity. Overall, this statistic provides insight into the maturity and resilience of the collision repair industry in the U.S.
About 27% of collision industry businesses in the U.S. have 1-4 employees.
This statistic indicates that approximately 27% of collision industry businesses in the United States are classified as small businesses with 1-4 employees. This suggests that a significant portion of the collision industry consists of smaller operations, which may have implications for the competitive landscape, service offerings, and overall industry dynamics. Understanding the distribution of business sizes within the collision industry can provide insights into the level of fragmentation in the market, potential challenges faced by smaller businesses, and opportunities for collaboration or consolidation within the industry.
The number of motor vehicle repair and maintenance establishments in the U.S. was 160,758 in 2020.
The statistic stating that there were 160,758 motor vehicle repair and maintenance establishments in the U.S. in 2020 provides valuable insight into the size and scope of the automotive industry within the country. This figure represents the total number of businesses dedicated to repairing and maintaining vehicles, highlighting the demand for such services and the level of competition within the industry. The presence of a large number of establishments also suggests a robust market for vehicle repair and maintenance services, reflecting the importance of the automotive sector in the U.S. economy and the significant role that these businesses play in keeping vehicles operational and safe on the roads.
In 2020, consumers in the U.S. spent an average of $1,986 on vehicle repairs and maintenance.
The statistic reveals that in the year 2020, the average amount spent by consumers in the United States on vehicle repairs and maintenance was $1,986. This figure gives an indication of the financial burden individuals faced in maintaining and repairing their vehicles during the specified period. It highlights the importance of ensuring proper upkeep, servicing, and timely repairs to keep vehicles in optimal condition and safe for use. Additionally, the statistic may also reflect the overall health of the automotive industry and the impact of economic factors and fluctuations in disposable income on consumer spending behavior related to vehicle maintenance.
The average cost of a collision repair job in the U.S. is about $2,500.
The statistic stating that the average cost of a collision repair job in the U.S. is about $2,500 indicates the typical financial amount required to repair damages resulting from a car accident. This figure reflects the average expenditure that individuals or insurance companies can expect to pay for fixing vehicle damages, encompassing a wide range of repair services such as fixing dents, replacing parts, repainting, and labor costs. While this amount provides a general idea of the potential expenses associated with collision repairs, it’s important to recognize that actual costs can vary significantly depending on the extent of damage, the type of vehicle, the repair shop’s pricing, and geographical location.
By 2026, the European automotive collision repair market size is predicted to reach over $47.5 billion.
The statistic indicates a forecasted growth in the European automotive collision repair market over the next several years, with an estimated size of over $47.5 billion by 2026. This prediction suggests a positive upward trend in the demand for collision repair services within the automotive industry in Europe. Factors contributing to this growth could include an increase in the number of vehicles on the road, advancements in vehicle technology leading to higher repair costs, and a rise in road accidents necessitating collision repairs. The projected market size serves as a key indicator of opportunities for businesses in the automotive repair sector, highlighting the potential for revenue generation and market expansion in the coming years.
APAC region dominated the global Automotive Collision Repair market with a share of 49.5% in 2020.
The statistic indicates that the Asia-Pacific (APAC) region played a significant role in the global Automotive Collision Repair market in 2020, capturing a market share of 49.5%. This suggests that nearly half of all Automotive Collision Repair activities worldwide took place in the APAC region during that time. The dominance of the APAC region in this market sector could be attributed to factors such as the increasing number of vehicles on the road, a growing population, rising disposable incomes, and advancements in automotive technology. This statistic highlights the importance of the APAC region in the Automotive Collision Repair industry and signifies its significant contribution to the overall market dynamics.
The use of original equipment manufacturer (OEM) parts is expected to grow at a compound annual growth rate (CAGR) of 2.9% from 2020 to 2027.
The statement indicates that the use of original equipment manufacturer (OEM) parts is projected to increase steadily over the period from 2020 to 2027, with a compound annual growth rate (CAGR) of 2.9%. This growth rate suggests that the demand for OEM parts is expected to experience a consistent annual increase of 2.9% during this timeframe. The CAGR metric provides a better understanding of the overall growth trend by considering the effect of compounding over multiple years, indicating a gradual but sustained rise in the utilization of OEM parts within the specified period. Consequently, this statistic implies a growing preference or need for original equipment manufacturer parts across various industries or sectors over the next few years.
The collision repair industry employs over 530,000 people in the United States.
The statistic stating that the collision repair industry employs over 530,000 people in the United States reflects the significant workforce involved in repairing vehicles that have been damaged in accidents. This large number of employees highlights the size and importance of the collision repair industry in the country, indicating the demand for skilled professionals to fix vehicles, address structural damages, and restore them to their pre-accident condition. The workforce in this industry is made up of technicians, mechanics, painters, and other specialized professionals who play a crucial role in ensuring the safety and functionality of vehicles on the road. Overall, this statistic underscores the considerable impact that the collision repair industry has on both the economy and the automotive sector in the United States.
More than 60% of industry operators in the collision repair industry have less than 10 employees.
The statistic ‘More than 60% of industry operators in the collision repair industry have less than 10 employees’ indicates that a substantial majority of businesses in the collision repair industry are small-scale operations with fewer than 10 employees. This suggests that the industry is characterized by a large number of small businesses, potentially indicating a fragmented market with a high degree of competition among smaller players. Additionally, the prevalence of small businesses in the industry may have implications for factors such as market concentration, market dynamics, and business practices within the industry, highlighting the importance of understanding the role of small operators in shaping the overall landscape of the collision repair sector.
Paints & coatings held a 20.7% share in the Automotive Collision Repair market in 2020.
This statistic means that paints and coatings accounted for approximately one-fifth (20.7%) of the total market share within the Automotive Collision Repair industry in 2020. This indicates the significant role that paints and coatings play in the industry, suggesting that they are a crucial component of the repair process for automotive collisions. The high percentage share highlights the importance of these products in restoring vehicles to their pre-collision condition and maintaining the aesthetics and durability of the vehicles post-repair. A strong market share in this sector indicates a competitive presence and potentially strong demand for paints and coatings within the Automotive Collision Repair market ecosystem.
The global automotive collision repair market is expected to grow at a CAGR of 2.7% during the period 2021–2027.
This statistic indicates that the global automotive collision repair market is forecasted to experience a Compound Annual Growth Rate (CAGR) of 2.7% between 2021 and 2027. This suggests a steady and moderate growth trend in the industry over the specified time frame. A CAGR of 2.7% signifies that the market is projected to expand by that percentage annually on average. Factors such as increasing vehicle ownership, rising road accidents, technological advancements in repair processes, and growing demand for automotive insurance are likely to drive the growth of the automotive collision repair market during this period. This statistic provides valuable insights for stakeholders in the industry to make informed decisions and strategic plans for the future.
The “Do-It-Yourself” category of the collision repair industry is projected to witness a 3.0% CAGR from 2020 to 2027.
The statistic indicates that the “Do-It-Yourself” category within the collision repair industry is expected to experience a Compound Annual Growth Rate (CAGR) of 3.0% from 2020 to 2027. This suggests a projected annual growth rate that accounts for compounding effects over the specified period. The 3.0% CAGR indicates that this DIY segment of the collision repair industry is anticipated to expand steadily over the next seven years, potentially driven by factors such as consumer preferences for self-repair options, economic conditions, and technological advancements. The statistic provides insight into the expected growth trajectory of this specific sector within the collision repair industry.
References
0. – https://www.www.grandviewresearch.com
1. – https://www.www.gminsights.com
2. – https://www.www.fenderbender.com
3. – https://www.www.ibisworld.com
4. – https://www.www.angieslist.com
5. – https://www.www.carwise.com
6. – https://www.www.bts.gov
7. – https://www.www.arizton.com
