Spain Automotive Collision Repair Market size is projected to grow at a CAGR of 4.3% during 2024-2030

OE category on the basis of service channel, accomplished a significant revenue share in the Spain Automotive Collision Repair Market – 6Wresearch

By service channel, the OE segment accounted for the maximum share in 2020 owing to the high-quality assurance and ease of access associated with the leading global automotive brands. Further, the DIY segment is anticipated to register the fastest growth in the forecast period as it is expected to serve as a mass low-cost quick-fix solution.

According to 6Wresearch, Spain AutomotiveCollision Repair Market size is projected to grow at a CAGR of 4.3% during 2024-2030. Consumer preferences have shifted, with an increasing number of Spaniards opting against the significant expenditure associated with purchasing a new vehicle. Acquiring a new vehicle is no longer a primary consideration for many Spaniards, leading to declining registration numbers annually. Instead, a growing number of consumers are turning to social networks, exchange platforms, and dedicated websites for the sale of second-hand vehicles. These platforms facilitate the purchase of affordable cars, motorcycles, and caravans.

The data indicates that in Spain, for every new car sold, 2.3 second-hand cars are sold. Since 2019, the sale of second-hand and second-hand vehicles has increased by almost 25%. during 2022 and 2023, this market will maintain its growth.  According to data from GANVAM (National Association of Motor Vehicle Sellers, Repair and Spare Parts) the Spanish market has the capacity to sell more than two million used cars per year. Although the second-hand market as a whole has also fallen by 5.2% throughout 2022, sales of older cars have increased in absolute terms.

The rising demand for second-hand vehicles expands the clientele for collision repair shops. With older vehicles being more prevalent in this market, repair shops could experience increased business due to the need for frequent repairs, including collision repairs, to maintain roadworthiness.

According to Abhishek Mishra, Senior Research Analyst, 6Wresearch, light duty vehicle segment is anticipated to register the fastest growth in the Spain Automotive Collision Repair Market owing to high levels of car ownership in the country.

Spain Automotive Collision Repair Market (2024-2030) report provides an in-depth analysis with 11 figures and 3 tables, covered in 56 pages. The report comprehensively covers the market by vehicle type, product type and service channel. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.