Ireland's Publication for the refinishing & associated Industries

World body repair market to be worth over $678m by 2026

According to a study by Global Industry Analysts, the activity of vehicle body repair shops will grow worldwide at a rate of 3.1 per cent during the next six years, up to $678,400,000 (around €578m) in 2026.

However, not all of the aftersales areas will evolve in the same way. The report suggests body repair will grow at a slower pace than electromechanic and tyre garages, at an estimated yearly rate of 2.7 per cent.

In six years, the body repair revenue, pushed by markets such as Europe, the United States, Canada, Japan and China, will reach $138,600,000 (around €117m).

According to the study, a significant increase in the number of these types of repairs is likely to take place in the Asia-Pacific area, especially in Australia, India and South Korea.

Latin American countries will grow above the average, at an annual mean increment of 3.2 per cent until 2026, the report says.

Mobility restrictions imposed around the world to contain the pandemic have resulted in an important reduction in the number of car accidents worldwide.

According to Global Industry Analysts, major European and North American cities are reporting decreases in the number of accidents between 40 and 60 per cent.

In addition, in the mid term, the characteristics of the new vehicle mobility after the pandemic, and the increasing presence of automatisation systems in the most modern cars will continue to reduce the number of crashes.

However, as we have already seen, the market will continue to grow both globally and regionally.