Industry Analysis & Industry Trends
Operators in the Car Body Shops industry have been driving on a bumpy road over the past five years. The recession has had lingering effects on the industry, with consumers holding off on essential repairs and pulling back on discretionary services like paint jobs. Over the five years to 2019, the industry is expected to grow in line with a strengthening economy; however, consumers will prefer to buy new cars rather than have their older cars repaired, threatening demand for industry services. Furthermore, manufacturers are introducing safety technologies into new cars, which will reduce collisions, something that this industry depends on for work... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
IBISWorld estimates that this industry is in the mature stage of its life cycle. Industry value added, a measure of the industry's contribution to the overall economy, will grow at a lower rate than US GDP over the 10 years to 2019. Industry value added is expected to decline, changing at an average annual rate of 2.4% over the period. GDP is expected to increase at a rate of 2.7% over the same period, indicating that the industry is growing slower than the economy as a whole.
The marketplace for automotive bodywork, paintwork and glass repair is highly saturated. Although there has been an increase in the number of cars on the road, newer motor vehicles have new crash-control technologies that either help control damage during a collision or help prevent the collision altogether... purchase to read more