Total collision repair industry sales grew 5 percent from 2006 to 2007 and currently stand at $41.5 billion, according to the 2008 Collision Repair Trends: Industry Statistics Analysis published by the Automotive Aftermarket Industry Association (AAIA). Independent paint and body repair shops accounted for more than half of the collision repair market at $23.5 billion.
Key elements contributing to the growth of the collision market include increases in the number of registered vehicles, miles driven on U.S. roads, increased road congestion and the higher cost of collision repair per vehicle.
"It’s significant to note that over the past seven years, the collision repair market has increased at a compounded annual growth rate of 5.3 percent per year compared to an overall aftermarket growth of 4.1 percent per year during the same period," said Kathleen Schmatz, AAIA president and CEO.
Collision Repair Trends combines the latest available industry data from original AAIA research, government sources and independent research suppliers about the size and scope of the collision repair segment of the industry and the paint and body equipment aftermarket. The report includes data on vehicle collisions; size of the collision repair industry; collision repair shop profile; retail distribution of PBE products; state summary statistics; and information about the Canadian collision repair industry.
2008 Collision Repair Trends: Industry Statistics Analysis is available for $125 for AAIA members and $250 for non-members. For more information or to order the report, visit www.aftermarket.org.