Automotive Collision Repair Market: Key players ZF Friedrichshafen, Denso, 3M, Federal-Mogul, Bosch, Honeywell, Continental, Faurecia
Rapid urbanization coupled with financial support in the form of low interest rate for passenger car loans are boosting the vehicle production across the globe. Increasing intercity and intra-city passenger as well as goods transportation will add commercial vehicles on the road. This rising road congestion will induce growth prospects for the automotive collision repair industry over the forecast period.
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Shifting trend of consumers towards shared mobility is likely to intensify automobile sales across the globe. These vehicles experience higher wear and tear than private vehicles, thereby amplifying industry growth rate over the forecast timeframe. Rising complexities associated with software and electronic parts in new vehicle models are multiplying investments required for handling repair services. These challenges are limiting the reach of small & independent automobile workshops.
Finishing compounds from automotive collision repair industry will exhibit growth rate of approximately 4% from 2018 to 2024. Paints & coatings is observed to be commonly used material in the auto refinishing application. This rising penetration can be attributed to increasing road traffic which poses risk of scratches, minor dents, and small crashes, further driving the industry growth.
Passenger cars segment is predicted to account for maximum revenue share in the automotive collision repair market over the forecast timeline. Innovations such as 3D stereo photogrammetry used for documentation and precise measurement after accidental damage will significantly contribute in enhancing industry.
OEMs segment in the automotive collision repair industry held more than 65% of the revenue share in 2017. This dominance can be credited to consumer’s trust level towards the brand manufacturers. Customer preference towards brand loyalty and warranty period will enhance the industry share over the forecast timeline.
Europe automotive collision repair market is anticipated to be valued at USD 112 billion over the projected time span. Rising demand for paintings and coatings from several countries is augmenting regional growth till 2024. Increasing replacement of metal parts and damaged plastics will further contribute in revenue generation.
Dealer owned auto body shops are set to pose CAGR of more than 2.5% during the study period. Increasing dealer retail network accompanied with transparent policy system is spurring the segment growth. Warranty coverage and high-quality work will further drive the automotive collision repair market growth rate from 2018 to 2024.
Automotive collision repair market participants are ZF Friedrichshafen AG, Denso Corporation, 3M Company, Federal-Mogul Holdings Corporation, Bosch, Honeywell International Inc., Continental Corporation, and Faurecia. Industry participants are investing heavily in technology improvement for widening their global presence. For instance, ZF Friedrichshafen utilizes 5% of its sales annually in research activities.
Automotive collision repair industry is highly fragmented owing to considerable number of auto body shops existing across the globe. However, owing to requirement of technically skilled workforce and declining profits, the industry is witnessing consolidation as multiple players are focusing on M&As with MSOs.
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Chapter 1. Methodology and Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope, definition and forecast parameters
1.2. Data Sources
Chapter 2. Executive Summary
2.1. Automotive collision repair industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Vehicle trends
2.1.4. End use trends
2.1.5. Auto body shops trends
2.1.6. Regional trends
Chapter 3. Automotive Collision Repair Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Component Suppliers
3.3.2. Service providers
3.3.3. Profit margin analysis
3.3.4. Distribution channel analysis
220.127.116.11. Auto body shops
3.3.5. Vendor matrix
18.104.22.168. Global presence
3.4. Pricing analysis
3.4.1. Cost structure analysis
3.5. Technology landscape
3.5.2. Automotive Sanding System
3.6. Regulatory landscape
3.7. Average industry prices for minor and major collision repair services
3.8. Minor and major repair incidents/Propensity to fix for minor and major collisions
3.9. Major/minor auto body repairs
3.10. Minor v/s major damage repair costs
3.11. Industry impact forces
3.11.1. Growth drivers
22.214.171.124. North America
126.96.36.199. Asia Pacific
188.8.131.52. Latin America
184.108.40.206. Middle East & Africa
3.11.2. Industry pitfalls & challenges
220.127.116.11. Increased safety features
18.104.22.168. Lack of technical expertise
3.12. Innovation & sustainability
3.13. Growth potential analysis, 2017
3.14. Porter's analysis
3.15. Competitive landscape, 2017
3.15.1. Company market share analysis, 2017
3.15.2. Strategy dashboard
3.16. PESTEL analysis
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