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Automotive Collision Repair Market – Global
Industry Analysis Report, Share, Growth, Price
Trends and Forecast, 2024: Global Market Insights
The global Automotive Collision Repair Market share report provides numbers for
applications and regional segments of the industry covering historical as well as
forecast data for decision makers. Automotive Collision Repair Market size is
estimated to surpass USD 220 billion by 2024; according to a new research report by
Global Market Insights, Inc.
Increasing demand for the enhancement of damage control, and repair quality will
positively impact the automotive collision repair market share over the coming years.
Continuous technological advancements in ancillary products coupled with
supplementary services such as painting, denting, and body maintenances will
further augment the industry demand. Rising intra-city and intercity goods and
passenger transportation is likely to stimulate commercial automobiles on the road.
Consumer trends in shared mobility behavior will positively influence the automobile
demand. Shared mobility vehicles witness higher wear and tear degree than
personal vehicle that is likely to favor industry growth over the forecast timeframe.
Rising technical, software, and electronic complexities associated with new
generation vehicles will support the investments and expertise. are required for
handling the repairs. These factors are limiting the reach of small & independent
Rising investment from major industry participants to enhance their services and
quality will pave an opportunistic way for the automotive collision repair market.
Increasing demand for hybrid and electric vehicle owing to surging fuel prices will
increase the product penetration. Advent of nascence technologies such as night
vision with pedestrians control, lane departure warning, forward collision repair,
connected cars, automatic emergency braking system, and autonomous driving may
restrict the industry growth over the coming years.
Finishing compounds are expected to exhibit growth of over 3% over the projected
time line. Paints & coatings are the most commonly used products in the auto
industry. This wide acceptance is credited to the rising road congestion that poses
risk of minor dents and small crashes resulting in the need to restore the vehicle’s
Light duty vehicles are expected to dominate the automotive collision repair market
till 2024. Technological advancements including 3D stereo photogrammetry for
accurate measurement and documentation of the accident damage will contribute in
revenue generation. Moreover, associations like NASTF-National Automotive
Service Task Force in the U.S. have formed a Collision Repair Committee (CRC)
that supports in recognizing, addressing, and resolving the service gaps. It will help
auto body shops achieve a complete and safe vehicle restoration.
U.S. Automotive Collision Repair Market, By End Use, 2012-2024, (USD Billion)
Original Equipment Manufacturers (OEMs) will account for highest revenue share by
2024 owing to the consumer’s high trust level towards the brand manufacturers.
Predilection towards warranty offered and customer’s brand loyalty are other factors
that will support the OEMs dominance. The original products offer benefits such as
better performance, longer product lifecycle, and reliability than the counterparts, will
further escalate the OEM’s share in the automotive collision repair market.
Aftermarket is anticipated to exhibit a maximum CAGR of over 4% from 2017 to
2024. Aftermarket parts are developed by the third-party companies specializing in
manufacturing of the auto components that may match the original parts quality and
specifications. This growth can be primarily attributed to its cost effectiveness as
compared to the original manufacturer’s auto parts.
Europe automotive collision repair market is predicted to dominate the industry in
terms of revenue share over the forecast timespan. Rising demand of painting &
coating in Eastern Europe is another factor responsible for catapulting the regional
growth till 2024. Increasing replacement of damaged plastics & metal parts will
significantly contribute in the revenue generation.
The companies operating in the automotive collision repair market includes 3M
company, ZF Friedrichshafen AG, Honeywell International Inc., Federal-Mogul
Holdings Corporation, Denso Corporation, Continental Corporation and Bosch and
Faurecia. Industry players are investing heavily on modernization of their services
and technology used for strengthening their foothold in the highly competitive
industry. For instance, ZF Friedrichshafen AG invests over 5% of its sales in R&D
activities assuring success by means of engineering and design of innovative
Segmentation of Automotive Collision Repair Market:
Automotive collision repair market research report includes in-depth coverage of the
industry with estimates & forecast in terms of revenue in USD billion from 2012 to
2024, for the following segments:
Automotive Collision Repair Market, By Product
Paints & coatings
Adhesives & sealants
Automotive Collision Repair Market, By Vehicle
Automotive Collision Repair Market, By End-Use
The above information is provided on a regional and country basis for the following:
Middle East & Africa
• Saudi Arabia
• South Africa
Browse Related Report:
Automotive Aftermarket Size By Vehicle Part (Replacement Parts [Belt,
Brake, Clutch, Lighting, Electrical, Engine & AC, Exhaust, Filters, Suspension,
Transmission, Wiper], Accessories), By Sales Outlet (Professional [Garages &
Service Stations, Automobile Dealerships, Government], DIY, OEM), By
Region (U.S., Canada, Germany, UK, Russia, China, India, South Korea,
Japan, Indonesia, Thailand, Brazil, Mexico, Argentina, South Africa, GCC),
Industry Analysis Report, Regional Outlook, Application Growth Potential,
Price Trends & Forecast, 2016 – 2024
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom research
reports along with growth consulting services. Our business intelligence and industry
research reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These exhaustive
reports are designed via a proprietary research methodology and are available for
key industries such as chemicals, advanced materials, technology, renewable
energy and biotechnology.
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Global Market Insights, Inc.
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