Press release
Automotive Collision Repair Industry: Key Participants are Denso, 3M, Federal-Mogul, Bosch, Honeywell, Continental, Faurecia, ZF Friedrichshafen
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.
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Proliferating demand for refinishing, reprocessing, and rebuilding of vehicle parts after accidents are strengthening the industry over the study time span. Continuous technological improvements in ancillary products and services such as denting, painting, and automobile body maintenance will positively impact the automotive collision repair market till 2024.
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.
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.
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.
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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Partial Chapter of the Table of Content:
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
Chapter 5. Automotive Collision Repair Market, By Vehicle
5.1. Automotive collision repair market share by vehicle, 2017 & 2024
5.2. PCV
5.2.1. Market estimates and forecast, 2013-2024
5.2.2. Market estimates and forecast, by region, 2013-2024
5.3. LCV
5.3.1. Market estimates and forecast, 2013-2024
5.3.2. Market estimates and forecast, by region, 2013-2024
5.4. HCV
5.4.1. Market estimates and forecast, 2013-2024
5.4.2. Market estimates and forecast, by region, 2013-2024
5.5. Two Wheelers
5.5.1. Market estimates and forecast, 2013-2024
5.5.2. Market estimates and forecast, by region, 2013-2024
Chapter 6. Automotive Collision Repair Market, By End Use
6.1. Automotive collision repair market share by end use, 2016 & 2024
6.2. New OEM
6.2.1. Market estimates and forecast, 2013-2024
6.2.2. Market estimates and forecast, by region, 2013-2024
6.3. Aftermarket
6.3.1. Market estimates and forecast, 2013-2024
6.3.2. Market estimates and forecast, by region, 2013-2024
6.4. Recycled
6.4.1. Market estimates and forecast, 2013-2024
6.4.2. Market estimates and forecast, by region, 2013-2024
6.5. Remanufactured
6.5.1. Market estimates and forecast, 2013-2024
6.5.2. Market estimates and forecast, by region, 2013-2024
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