Automotive Collision Repair Services Market To Touch US$ 172 Bn By 2027

Automotive collision repair services refer to repair and maintenance carried out for passenger and commercial vehicles, post a crash, collision, or accident. The global market for automotive collision repair services is estimated to be pegged at around US$ 95 Bn by 2019 end, registering a CAGR of nearly 5% from 2019 to 2027. Increase in average vehicle age, poor quality of infrastructure, and increase in vehicle parc are considered to be prominent factors that will drive the growth of the global automotive collision repair services market over the forecast period. On the other hand, with rising concerns toward increasing number of road traffic deaths, legislations, vehicle standards, and road infrastructure are improving. This may, in turn, result in lesser collisions, consequently hindering the growth of the global automotive collision repair services market to some extent.

To remain ‘ahead’ of your competitors, request for a samples@

https://www.persistencemarketresearch.com/samples/14656

Connected car and electrification are the running trends in the automotive vertical. Electric vehicles are the talk of the emerging markets as well. Also, revolution on the part of after-sales is expected. This comes in light of call for certainty. Also, there would be a paradigm shift to computing power (from horsepower). In other words, automakers are needed to re-invent themselves in the form of digital company.

Automotive digital retail would be another form of organized automotive market. Contract durations would also be flexible. Easier vehicle swapping would be turning the tide in the favour of consumers. Persistence Market Research is looking through every facet of the automotives vertical through its dedicated team of analysts and consultants.

Automotive Collision Repair Services Market: Key Takeaways
• Despite technological disruption of accident-avoidance equipment (such as collision avoidance systems and technology), distracted driving has resulted in increased number of collisions.
• Owing to the relatively larger fleet of passenger vehicles all across the globe, the passenger vehicles segment is estimated to generate maximum revenue among vehicle types throughout the forecast period. The scenario with respect to vehicle type in North America is a bit different. The light commercial vehicles segment accounts for nearly half of the overall market share.
• Components such as radiators, condensers, hoods, and bumpers are identified to have relatively higher replacement rates, as these are most prone to damage during a collision. Though the parts & components segment is expected to account for a dominant market share, higher growth is expected for the paints and coatings segment. Advanced color development and high customer expectations characterize today’s refinishes.
• Geographically, the Asia Pacific region is anticipated to account for maximum share in the global automotive collision repair services market throughout the forecast period. Regions such as China, India, and ASEAN, witnessing significant growth in automotive sales and vehicle parc, are expected to register relatively higher growth in the global automotive collision repair services market.

For critical insights on this market, request for ask an expert here @

https://www.persistencemarketresearch.com/ask-an-expert/14656

Automotive Collision Repair Services Market: Competitive Landscape
3M, Denso Corporation, and Service King are identified as prominent players in the global automotive collision repair services market. Consolidation has witnessed a significant decline, though that was inevitable after the feverish pace it had been going at. This pace has slowed down due to increasing number of small- and medium-sized players investing in the collision repair industry. Despite all the consolidation, small independent repair shops account for more than one-third of the overall automotive collision repair services market landscape. Owing to the presence of a large number of players across the globe, the market for automotive collision repair services is considered to be significantly fragmented.

Lucrative Opportunities for Local Repair Shops
The automotive collision repair services market is estimated to project considerable opportunities for locally-owned repair shops. As most of the small-sized or locally-owned repair shops don’t offer a complete range of repair and maintenance services, they can follow a competitive strategy of specializing at any particular service. Additionally, small local shop owners can engage themselves in partnerships or standardized contracts with fleet operators and leasing firms to provide repair and maintenance services at lower prices.

For in-depth competitive analysis, buy now@

https://www.persistencemarketresearch.com/checkout/14656

Contact us:
Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com

About us
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers’ experience by acting as the “missing” link between “customer relationships” and “business outcomes’. The best possible returns are assured therein.

This release was published on openPR.