Global Automotive Collision Repair Market size is valued at US$ 218.36 Bn in 2018 and expected to grow at a CAGR of XX % in the forecasting period.
Presence of various automobile repair centers focusing on efficiency and productivity along with the introduction of new materials such as UV paint and carbon aluminium is likely to boost auto collision repair services demand. Many auto restoration shops operate through their own efficient distribution channel and are engaged in distributing branded auto parts and materials, favoring automotive collision repair market size from 2018 to 2026.
Increasing demand to enhance service quality and profitability in various workshops will drive automotive collision repair market share. Moreover, rising disposable income in various emerging economies such as India, China, Brazil, Mexico, etc. are stimulating the industry growth over the projected time span for the automotive collision market.
Global automotive collision repair market is segmented based on product, vehicle, end-use, auto body shops, and geography. By product segment, the market is segmented into paints & coatings, adhesives & sealants, abrasives, finishing compounds. By auto body shop, the market is segmented as dealer owned shops and independent repair shops. Dealer owned shops are the major segment where the automotive collision repair is highly demanded and thus, it is expected to hold major market share in the forecast period. This can be attributed to increasing dealership network and certified expert technicians availability. Quality of products coupled with warranty services are the major drivers contributing to the automotive collision repair market share globally. Rising technical complications of new vehicles support the expertise and investments that are required for handling the repairs, thereby enhancing the reach of dealer-owned shops businesses.
Geographically, the automotive collision repair market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia-Pacific is expected to be the largest market for Automotive Collision Repair during the forecast period. Infrastructure development in across various countries and increasing accidental rate due to a rising number of vehicles running on-road have instigated the demand for additional organized automobile body shops in the region. The increasing demand for vehicles and an emphasis on personal mobility will have a positive impact on the industry growth rate.
Key player across the automotive collision repair industry are 3M, ZF Friedrichshafen AG, Honeywell International Inc., Federal-Mogul Holdings Corporation, Denso Corporation, Continental Corporation, Bosch and Faurecia. Product enhancement, after sales service, and new product development are the major strategies implemented by these players. The industry is undergoing consolidation to increase the market share of the company. For instance, in January 2017, 3M announced the launch of an advanced line of pneumatic tools for grinding and cutting. The tools feature a smooth composite body and exclusive quality designed for increased performance with the 3M Cubitron II line of grinding and cutting abrasives.
Global Automotive Collision Repair Market Scope
Global Automotive Collision Repair Market, By Product
Paints & Coatings
Adhesives & Sealants
Global Automotive Collision Repair Market, By Vehicle
Global Automotive Collision Repair Market, By End-Use
Global Automotive Collision Repair Market, By Auto Body Shops
Dealer Owned Shops
Independent Repair Shops
Global Automotive Collision Repair Market, By Geography
Middle East & Africa
Key Players operating in the Global Automotive Collision Repair Market
ZF Friedrichshafen AG
Honeywell International Inc.
Federal-Mogul Holdings Corporation
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and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.