Additionally, growing penetration of affordable two wheelers, on account of greater fuel efficiency, low maintenance cost, and easy mobility is likely to boost the demand for automotive collision repair services to a greater extent. A rising number of vehicles especially in emerging countries like India, China, and others is the major factor causing a substantial rise in traffic congestion. These traffic jam mostly cause accidents and vehicle damages, that creates significant demand for denting, painting, and body repair services.
Asia Pacific automotive collision repair market size is projected to surpass USD 85.0 billion by 2027. Growing population and rapid urbanization, along with rising per capita income of citizens residing in the Asia Pacific countries, has significantly increased the vehicle sales and private vehicle ownerships in the region. This has subsequently impelled the demand for automotive collision repair as rise in the number of vehicles on the roads is resulting in traffic, congestion and higher chances of collisions. The growing demand for automotive repair due to vehicle collision in the region has urged several companies to extend their operating service network across less accessible cities. Expansive service networks of these companies is playing a significant role in fueling the consumer demand for collision repairs. This is positively influencing the market space.
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