Press release
Automotive Collision Repair Market 2019-2024 Top Key Players: ZF Friedrichshafen, Valeo, Tenneco, Takata, PPG Industries, Martinrea International, 3M, Magna International, IAC Group, Huntsman Corporation, Honeywell, Faurecia, DuPont, Denso, Caliber Collis
Automotive Collision Repair Market
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.
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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.
Dealer-owned shop will generate major revenue share in the automotive collision repair market. This can be attributed to the continued focus of the automobile manufacturers to offer customized servicing and repair solutions to its customers. Industry participants are focused on improving customer experience by introducing transparent pricing schemes and policies to prevent over charging by the service centers and support in revenue generation.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• 3M
• ATP Automotive
• Caliber Collision
• Continental Corporation
• Denso Corporation
• DuPont
• Eastman Chemical Company
• Faurecia
• Federal-Mogul Holdings Corp.
• Henkel AG & Co., KGaA
• Honeywell International Inc.
• Huntsman Corporation
• International Automotive Components (IAC) Group
• Johnson Control, Inc.
• Magna International, Inc.
• MANN+HUMMEL
• Martinrea International, Inc.
• MITSUBA Corporation
• PPG Industries
• Robert Bosch GmbH
• Sika AG
• Takata Corporation
• Tenneco, Inc.
• Tokai Rika Co.
• Valeo
• Yazaki Corporation
• ZF Friedrichshafen AG
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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.
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.
OEMs hold major share in automotive collision repair market with consumer preference for complicated component servicing in electrical and transmission systems.
Aftermarket segment will showcase substantial growth rate owing to the availability of services, parts, and labor at lower costs compared to the OEMs. Customers with vehicles over the age of three years prefer to opt for aftermarket solutions owing to similar performance and expiration of the vehicles warranty.
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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.
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