Automotive Collision Repair Market size to rise at 2%+ CAGR to 2024

Automotive collision repair market from paints & coatings will witness around 2.5% CAGR over forecast period owing to rising traffic leading to rear end crash and dents.

The size of Automotive Collision Repair Market was anticipated as 236 billion in the year 2018 and is predicted to touch 275 billion till 2024, rising with a CAGR of 9% between the years 2018 to 2024 as per the research done by Global Market Insights, Inc.

Increasing traffic congestion leading to road accidents and vehicle damage will drive industry share over the forecast timeframe. Rising vehicles demand across the globe owing to shifting preference towards personal mobility will further escalate automotive collision repair market share.

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Proliferation of automobile repair service centers focusing on enhancing efficiency and operational productivity with the introduction of innovative materials will drive the automotive collision repair market. Growing multi-branded service centers offering maintenance at lower costs and warranties will support the industry growth.

Technological advancements such as spectrophotometer and automotive sanding systems ensure premium color finish. It minimizes the need of trail and error and enhances process efficiency. Emergence of innovative technologies to increase process efficiency will drive automotive collision repair market in next six years.

The paints and coatings segment accounts for significant share in the automotive collision repair market owing to the increasing requirement to maintain vehicles aesthetics for longer time period. Further, dents and scratches owing to vehicle accidents will support the segment share. Adhesives and sealant will witness steady growth with its application for lightweight composite materials.

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PCV leads automotive collision repair market owing to the increasing vehicle production across the globe. Rising preference towards SUVs and crossovers along with availability of multiple vehicle models at lower costs will ensure its dominance over study timeframe. Moreover, automobile manufacturers are focusing on improving the car servicing experience by introducing premium lounge and other services for enhancing the overall customer experience.

Europe leads automotive collision repair market owing to presence of major automobile industry players. According to European Automobile Manufacturers Association, passenger car and commercial vehicle owners rely heavily on OEMs. Asia Pacific will witness strong growth with increasing automotive production across the region. Further the presence of major automobile manufacturers engaged in offering multiple variants including SUVs, sedans, hatchbacks, and crossovers are further supporting the industry growth till 2024.

Major industry participants operating in the automotive collision repair market place include 3M, ZF Friedrichshafen AG, Honeywell International Inc., Federal Mogul Holdings Corporation, Denso Corporation, Bosch, Faurecia, and Continental Corporation.

Browse key industry insights spread across 300 pages with 293 market data tables & 11 figures & charts from the report, “Automotive Collision Repair Market Size By Product (Paints & Coatings, Adhesives & Sealants, Abrasives, Finishing Compounds, Others), By Vehicle (PCV, LCV, HCV, Two Wheelers), By End-Use (New OEM, Aftermarket, Recycled, Remanufactured) By Auto Body Shops (Dealer Owned Shops, Independent Repair Shops) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, Spain, Netherlands, Belgium, China, India, Japan, Australia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Application Potential, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:

Glimpse of Table of Content (ToC)

Chapter 4. Automotive Collision Repair Market, By Product
4.1. Automotive collision repair market share by product, 2017 & 2024
4.2. Paints and coatings
4.2.1. Market estimates and forecast, 2013-2024
4.2.2. Market estimates and forecast, by region, 2013-2024
4.3. Adhesives & Sealants
4.3.1. Market estimates and forecast, 2013-2024
4.3.2. Market estimates and forecast, by region, 2013-2024
4.4. Abrasives
4.4.1. Market estimates and forecast, 2013-2024
4.4.2. Market estimates and forecast, by region, 2013-2024
4.5. Finishing compounds
4.5.1. Market estimates and forecast, 2013-2024
4.5.2. Market estimates and forecast, by region, 2013-2024
4.6. Others (spare parts, tools & equipment)
4.6.1. Market estimates and forecast, 2013-2024
4.6.2. Market estimates and forecast, by region, 2013-2024

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