Automotive Collision Repair Market 2018 Regional Trends, Revenue, Forecast & Companies – (Caliber Collision, 3M, Continental, DENSO, Faurecia, Magna International, Valeo) 2024

Europe automotive collision repair market share is predicted to be valued at over USD 112 billion till 2024. Increasing demand of painting & coating from various nations is accountable for catapulting the regional growth till 2024. Increasing replacement of damaged plastics & metal parts will significantly contribute in revenue generation. Automotive Collision Repair Market size is estimated to surpass USD 280 billion by 2024; according to a new research report by Global Market Insights, Inc.

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OEMs accounted for highest revenue share with over 65% in 2017 owing to the consumer’s high trust level towards the brand manufacturers. Predilection towards warranty provided and customer’s brand loyalty is enhancing its dominance. The original products offer multiple benefits including better performance, longer product lifecycle, and reliability than the counterparts, further escalating the segment share in the automotive collision repair business.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. 3M
2. ATP Automotive
3. Caliber Collision
4. Continental Corporation
5. Denso Corporation
6. DuPont
7. Eastman Chemical Company
8. Faurecia
9. Federal-Mogul Holdings Corp.
10. Henkel AG & Co., KGaA
11. Honeywell International Inc.
12. Huntsman Corporation
13. International Automotive Components (IAC) Group
14. Johnson Control, Inc.
15. Magna International, Inc.
16. MANN+HUMMEL
17. Martinrea International, Inc.
18. MITSUBA Corporation
19. Takata
20. Valeo
21. Yazaki Corporation
22. ZF Friedrichshafen AG

Automotive Collision Repair Market, By Product

• Paints & coatings
• Adhesives & sealants
• Abrasives
• Finishing compounds
• Others

Automotive Collision Repair Market, By Vehicle

• PCV
• LCV
• HCV
• Two wheelers

Automotive Collision Repair Market, By End Use

• New OEM
• Aftermarket
• Recycled
• Remanufactured

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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 are expected to dominate the automotive collision repair industry over the forecast timeframe. Technological advancements such as 3D stereo photogrammetry for accurate measurement and documentation of the accident damage will contribute in revenue generation. Moreover, associations including the U.S. NASTF-National Automotive Service Task Force have formed a Collision Repair Committee (CRC) supporting in recognizing, addressing, and resolving the service gaps. It will help auto body shops achieve a complete and safe vehicle restoration.

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.

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Increasing demand for rebuilding, refinishing, and reprocessing of automobile components after accidents is positively affecting the automotive collision repair market size over the forecast period. Continuous technological advancements in ancillary products coupled with supplementary services such as painting, denting, and body maintenance services will further augment the industry demand.

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.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights, Inc.
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This release was published on openPR.