Market Research Report
Automotive Collision Repair - Global Market Outlook (2017-2026)
|Automotive Collision Repair - Global Market Outlook (2017-2026)|
Published: April 1, 2018
Stratistics Market Research Consulting
Content info: 154 Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Automotive Collision Repair Market is accounted for $171.82 billion in 2017 and is expected to reach $242.79 billion by 2026 growing at a CAGR of 3.9% during the forecast period. Growing demand to improve service quality, efficiency and profitability in various workshops, increasing concern for road safety and growing strict automobile standards and guidelines, technology in auto parts manufacturing and digitalization of automotive repair & maintenance services are the factors driving the market growth. However, environmental concerns and dependence on insurance are the factors hampering the market growth.
By product, Paints & coatings segment will exhibit the highest growth during the forecast period. The quickly growing coatings and paints technology in the auto business to meet the most recent protective automobile materials demand is the main factor for this growth. Based on end user, Original Equipment Manufacturers (OEMs) will account the highest revenue due to the consumer's high trust level towards the brand manufacturers.
Asia Pacific is expected to project the highest CAGR during the forecast period due to infrastructure developments in India and growing accidental rate owing to more number of vehicles running on-road. Europe has accounted the largest revenue during the forecast period due to penetration of vehicles with better safety features and stagnated sales.
Some of the key players profiled in the market include Denso Corporation, DuPont, Faurecia, Continental Corporation, Caliber Collision, Federal-Mogul Holdings Corp., Honeywell International Inc, Henkel AG & Co., KGaA, International Automotive Components (IAC) Group, Magna International, Inc, MANN+HUMMEL, Robert Bosch GmbH, Tokai Rika Co, Wacker Chemie AG and Yazaki Corporation.