Automotive Collision Repair Market 2022- 2030 : Industry Analysis, Opportunities, Technology, Demand | Denso Corporation, Continental AG, 3M, Honeywell International
The automotive collision repair market size is anticipated to reach USD 219.62 billion by 2027 according to a new report published by Report Ocean
New York, United States -New York, United States -The automotive collision repair market size is anticipated to reach USD 219.62 billion by 2027 according to a new report published by Report Ocean. The report “Automotive Collision Repair Market Size, Share & Trends Analysis Report By Product (Paints and Coatings, Consumables, Spare Parts); By Vehicle Type (Passenger Vehicles, Commercial Vehicles, Two-Wheeler); By End-Use; By Region, Segments & Forecast, 2021 – 2027” provides current market insights and future market trends.
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In 2018, spare parts segment dominated the global market, in terms of revenue. In 2018, Europe accounted for majority share in global market. The market requires advanced protective materials which also meets the stylized highlights of the automobile. The quickly propelling paints and coatings innovation supports the market development. The organizations are under critical pressure to stiffen safety standards and guidelines and damages to vehicles which further aid market growth. The copious growth of hybrid and electric vehicles will offer market opportunities to growth during forecast period. Digitalization of automotive repair and collision services also supports market growth.
In 2018, Europe accounted for highest share of market revenue in global automotive collision repair market. The prime factors driving growth in the region include an established automotive industry, technological finesses and copious investments in R&D. Strict regulations responsible for vehicular safety and emissions accelerate growth in market. The rising safety concerns, unending list of accidents, introduction of driverless cars and car beautifications and ramp-up further increases the market growth in the region. The rise in driverless cars and a spurt in demand for electric vehicles increase the demand for market. With increasing sales and aging of vehicles globally, market is set to grow.
The global automotive collision repair market is segmented on the basis of product, vehicle type, end-use and geography. Based on product, the market is segmented into paints and coatings, consumables and spare parts. Spare parts accounted for highest share in market in 2017 owing to spate of road accidents on the road. The quickly propelling paints and coatings innovation which bend over to the desires for most recent defensive car material and done-up requests is the key explanation behind paints and coatings section development. Paints and Coatings are required to achieve expanded selection in high volume displays over the estimation time frame owing to overwhelming environment concerns relating to use of harmful synthetic coatings and refinishing materials.
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COVID-19 Impact
The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Automotive Collision Repair Market also experienced a slowdown. Statista estimates that the Automotive Collision Repair Market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the Automotive Collision Repair Market generated revenues of US$ 5.4 trillion at a record high.
The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the Automotive Collision Repair Market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.
The vendors are introducing new products to meet rising customer desires. In addition, the leaders are acquiring and collaborating with top companies in the market to enhance their offerings and expand customer base. The leading players in the market include Denso Corporation, Continental AG, 3M, Honeywell International, Inc., DuPont, BASF, Johnson Controls, Inc., ZF Friedrichshafen, Robert Bosch GmbH, Federal-Mogul LLC, Automotive Technology Products LLC, Caliber Collision and Henkel AG&Co., KGaA.
Report Ocean has segmented the automotive collision repair market report on the basis of product type, vehicle type, end-use and region.
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Automotive Collision Repair Product Outlook (Revenue, USD Billion, 2015 – 2027)
Paints and Coatings
Consumables
Spare Parts
Automotive Collision Repair Vehicle Type Outlook (Revenue, USD Billion, 2015 – 2027)
Passenger Vehicle
Commercial vehicle
Two-wheelers
Automotive Collision Repair End-use Outlook (Revenue, USD Billion, 2015 – 2027)
OEMs
Aftermarket
Others
Automotive Collision Repair Regional Outlook (Revenue, USD Billion, 2015 – 2027)
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Asia Pacific
India
China
Japan
Latin America
Mexico
Brazil
MEA
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
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