United States Collision Repair Parts Market Report and Forecast 2024-2032

United States Collision Repair Parts Market Size

The United States collision repair parts market reached a value of around USD 36.25 billion in 2023. The market is projected to grow at a CAGR of 1.7% between 2024 and 2032, reaching a value of around USD 42.18 billion by 2032.

United States Collision Repair Parts Market Outlook

The United States collision repair parts market value is witnessing increasing due to the increasing cases of road accidents in the country, which drives the demand for collision repair services like scratch and dent removal, paint matching, auto glass replacement, replacing doors or panels, and more. This adds to the demand for repair parts, and since the demand for automotive insurance in the US is high, many automotive technicians partner with insurance providers to offer repair services. As a result, the US market is also expected to benefit from increase in the number of automobile insurance subscriptions. Additionally, trends like DIY methods to replace car components and the growing adoption of electric and hybrid cars are expected to positively impact the United States collision repair parts market revenue in the coming years.

Higher Incident Rates of Minor and Major Collisions are Strengthening the United States Collision Repair Parts Market Growth

From 2024 to 2032, the market is expected to see different growth rates based on vehicle type. Passenger cars are forecasted to lead the market with a Compound Annual Growth Rate (CAGR) of 1.9%, reflecting higher demand for repair parts due to their widespread use and higher incident rates of minor and major collisions. Commercial vehicles are projected to grow at a slightly lower CAGR of 1.5%. This slower growth rate can be attributed to the fewer number of commercial vehicles compared to passenger cars, coupled with potentially better maintenance and driving protocols in commercial transportation sectors, aiding the collision repair parts demand growth in United States. These trends highlight the ongoing needs for collision repair parts in varying segments of the automotive market.

Aftermarket Segment Leads the United States Collision Repair Parts Market Share Due to Availability of a Wide Range of Options

From 2024 to 2032, the United States collision repair parts market is segmented by application into OEM (Original Equipment Manufacturer) and aftermarket parts. As per the United States collision repair parts industry analysis, the aftermarket segment leads with a higher CAGR of 1.8%, indicating a strong preference among consumers for aftermarket solutions, likely due to cost advantages and the availability of a wider range of options. The OEM segment follows with a CAGR of 1.6%, suggesting steady but slightly slower growth, which could be attributed to the typically higher costs and restricted availability compared to aftermarket parts. These ranking underscores the dynamics within the collision repair industry, where cost efficiency and accessibility play significant roles in shaping market trends.

United States Collision Repair Parts Market Regional Analysis

From 2024 to 2032, the United States collision repair parts market is anticipated to experience varying growth across different regions. The Far West region is projected to lead with the highest Compound Annual Growth Rate (CAGR) of 2.0%, likely due to robust automotive markets and higher rates of vehicle ownership and usage, which increase the collision repair parts demand. Following closely are the Southwest and Rocky Mountain regions, both with a CAGR of 1.8%, indicating strong growth influenced by similar factors of high vehicle usage and accidents. The Southeast region shows a growth rate of 1.7%, while New England's growth is expected to be at 1.6%, and the Mideast at 1.5%. The lowest growth rates are seen in the Great Lakes at 1.3% and the Plains at 1.4%, which may reflect lower levels of vehicle traffic or smaller automotive markets in these areas. These variations highlight regional disparities in automotive activity and the resulting demand for collision repair components.

Key Questions Answered in the Report

• How has the United States collision repair parts market performed historically, and what are the growth expectations for the future?

• What are the primary factors influencing demand and growth in the United States collision repair parts market?

• What are the key segments within the United States collision repair parts market, and how are they expected to evolve over the forecast period?

• What are the major challenges and opportunities facing stakeholders in the United States collision repair parts market?

• Who are the key players in the United States collision repair parts market, and what strategies are they employing to maintain a competitive edge?

• What are the regulatory and policy factors influencing the United States collision repair parts market globally or regionally?

• How competitive is the United States collision repair parts market according to Porter's five forces analysis, including factors like bargaining power of buyers and suppliers?

• What are the current trends shaping the United States collision repair parts market landscape, and how are they expected to evolve in the future?

• How are technological advancements impacting the United States collision repair parts market, and what role do innovation and R&D play in driving growth?

• What are the consumer preferences and buying behavior trends influencing the United States collision repair parts market?

• How sustainable are current growth rates in the United States collision repair parts market, and what factors could potentially disrupt these trends?

• What are the regional dynamics within the United States collision repair parts market, and how do they contribute to overall market growth?

• What are the economic factors influencing the United States collision repair parts market, such as GDP growth, inflation rates, and currency fluctuations?

• How are demographic shifts, such as aging populations or urbanization trends, affecting demand in the United States collision repair parts market?

• What are the key strategic partnerships, mergers, and acquisitions shaping the competitive landscape of the United States collision repair parts market?

• What are the regulatory and legal frameworks impacting the United States collision repair parts market globally or in key regions?

• How are changing consumer lifestyles and preferences influencing product or service demand within the United States collision repair parts market?

• What are the emerging market trends and niche opportunities within the United States collision repair parts market that stakeholders should be aware of?

• How resilient is the United States collision repair parts market to external shocks or disruptions, such as geopolitical tensions or natural disasters?

• What are the potential barriers to market entry and growth for new players in the United States collision repair parts market?

Key Benefits for Stakeholders

Expert Market Research's industry report provides a comprehensive quantitative analysis of various market segments, historical and current market trends, and forecasts the dynamics of the United States collision repair parts market spanning from 2018 to 2032.

The research report delivers up-to-date insights into the market drivers, challenges, and opportunities shaping the United States collision repair parts industry.

Stakeholders can leverage Porter's five forces analysis to assess the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. This analysis aids in evaluating the competitiveness and attractiveness of the United States collision repair parts market.

The competitive landscape section enables stakeholders to gain a deep understanding of their competitive environment. It offers insights into the current market positions of key players, their strategies, and their market shares.

Additionally, the report highlights emerging trends, regulatory influences, and technological advancements that are pivotal for stakeholders navigating the United States collision repair parts market landscape.

Key Highlights of the Report