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(USGovernment-News.Com, November 14, 2018 ) Automotive Collision Repair Market Research and Analysis to 2026 - Major Top Vendors are Denso Corporation, Continental AG, 3M, Honeywell International, Johnson Controls, Robert Bosch GmbH, Federal-Mogul LLC, Caliber Collision
The global Automotive Collision Repair market generated USD 173.4 billion in 2017 and is anticipated to grow at a CAGR of 2.9% during the forecast period according to a new study published by Polaris Market Research.
Vehicular damages are on the rise owing to increasing number of accidents and environmental calamities. This increases the need for repairing and rebuilding of automobiles. Do-It-Yourself kits for automotive collisions are also available in the market for car owners who prefer repairing their vehicles at home at cheaper costs and no additional assistance. Automotive collision repair uses paints, spare parts and consumables. Paints, scratch-resistant coatings, refinishing materials, engine motor oil and resin materials among others are used for repairing automobiles. The spare parts used for repairing automotive damage includes crash parts, repair materials, supplementary mechanical parts, restoration materials, and tools used in automobile service delivery.
The rising road accidents and damages due to natural events drives the Automotive Collision Repair market growth. The rise in the awareness and need of road safety along with strict automobile standards and guidelines boost the growth of the market. Other driving factors include the use of advanced technology in the fabrication of auto parts, and the steep rise in the production of passenger and private use vehicles. Digitalization of the automotive repair and maintenance services also plays an important role as a market driver. However, consumers’ natural inclination towards automotive insurance and the environmental hazard potentially caused by the use of low quality synthetic paints and coatings hamper the Automotive Collision Repair market growth to a certain extent. Technological developments to offer faster and efficient services and repair, and the rising use of hybrid and electric vehicles are expected to provide growth opportunities during the forecast period.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Automotive Collision Repair Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
The Europe Automotive Collision Repair market generated the highest revenue in the market in 2017 owing to high disposable income and living standards leading to increased sale of passenger vehicles in the region. The established automotive industry, and strict government regulations have resulted in increasing adoption of automotive Collision Repair in the region. The high penetration of electric vehicles, and increasing adoption of ADAS systems further boost the automotive Collision Repair market growth in the region.
Competitive Landscape and Key Vendors
The global automotive Collision Repair market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
The leading companies profiled in the Automotive Collision Repair market report include Denso Corporation, Continental AG, 3M, Honeywell International, Inc., Johnson Controls, Inc., Robert Bosch GmbH, Federal-Mogul LLC, Automotive Technology Products LLC, Caliber Collision, and Henkel AG & Co., KGaA.
Key Segments
Products
Paints and Coatings Consumables Spare Parts Vehicle Types
New OEM Aftermarket Recycled Remanufactured Region
North America S. Canada Mexico Europe Germany UK France Italy Rest of Europe Asia-Pacific China India Japan Rest of Asia-Pacific Latin America Brazil Rest of Latin America Middle East and Africa
Polaris Market Research is a global market research and consulting company. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.
Contact us:
Mr. Neel Corporate Sales, USA Polaris Market Research Phone: 1-646-568-9980 Email: neel@polarismarketresearch.com Web: https://www.polarismarketresearch.com/
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