Press release
Automotive Collision Repair Market Research Report 2022-2028 | Share, Trends, Industry Analysis Report to 2028
The automotive collision repair market is anticipated to grow at a significant CAGR of 2.5% during the forecast period (2022-2028).The restoration and replacement processes done on automobiles damaged in an accident are referred to as automotive collision repair. Denting, painting, repairing, restoring, replacing, and refinishing structural and aesthetic components of vehicles, such as bumpers, glass windows, and car doors, are all part of the process. Paints, scratch-resistant coatings, replacement components, and other refinishing materials are commonly used in car collision repair to fix dents and scratches. It also comprises a variety of consumables including engine motor oil and glue material. Repair materials, crash components, mechanical parts, and tools are among the essential spare parts used in repairs. For passenger, light, and large commercial vehicles, repair work is mainly done at independent and approved garages. The market is primarily driven by an increase in the number of traffic accidents throughout the globe.
Furthermore, tremendous expansion in the automotive industry is propelling the market forward. The rising popularity of hybrid and electric vehicles (H/EVs), as well as traditional automobiles, has increased customer demand for repair services.
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The global automotive collision repair market is segmented based on product type and vehicle type. Based on the product type, the market is sub-segmented into paints & coatings, consumables, and spare parts. Based on the vehicle type, the market is sub-segmented into passenger vehicles and commercial vehicles. Among these vehicle types, the passenger vehicles segment is expected to propel the growth of the market due to the increasing demand and usage of collision repair products for passenger cars globally.
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The market players are also contributing significantly to the market's growth by adopting various strategies, including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in November 2021, Caliber Collision announced a new strategic partnership with Bosch. By the end of 2022, all Caliber Collision centers will be equipped with a Bosch next-generation diagnostic scanning and technology platform. The Bosch solution includes new original equipment manufacturer (OEM) scanning software to serve the collision and mechanical repair sectors' ever-changing demands. Furthermore, the Bosch scanning innovation will help Caliber Collision maintain its position as an industry leader by streamlining diagnostic data and procedures, making it easier to fix today's complicated automobiles.
A full report of Global Automotive Collision Repair Market is available at: https://orionmarketreports.com/automotive-collision-repair-market/35358/
Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Product Type
o By Vehicle Type
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- 3M Co., Automotive Technology Products LLC, Caliber Collision, Continental AG, Denso Corp., DuPont de Nemours Inc., Eastman Chemical Co., Faurecia SE, Honeywell International Inc., IAC Group, and Robert Bosch GmbH, among others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Automotive Collision Repair Market Report by Segment
By Product Type
• Paints & Coatings
• Consumables
• Spare Parts
By Vehicle Type
• Passenger Vehicles
• Commercial Vehicles
Media Contact:
Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
About Us:
Orion Market Reports (OMR) endeavors to provide an exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and the most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
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