Press release
Automotive Collision Repair Services Market: Recent Industry Trends and Projected Industry Size by 2017 - 2025
The automotive collision repair services market has witnessed various advancements in recent years as deployment of new methods and technologies for automotive diagnosis and remanufacturing of some of the reliable parts and components, which can be installed with perfection and precision in an automobile. Some key automotive market players have come up with company-owned service centers and shops for genuine auto parts as a part of business strategy to capitalize on this collision repair services market opportunity.
Additionally, new manufacturing technologies, such as 3D printing or additive manufacturing have empowered manufacturers to produce the most complex and difficult parts and components with ease and in very less manufacturing time. Also, the market for automotive collision repair services has increased due to development in the overall automotive sector, as consumers are more attracted towards safety and riding comfort.
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Moreover, in developed nations, high standard of living and growing disposable income have enabled consumers to replace faulty and damaged parts and components, even when they are slightly damaged, as consumers are more aesthetically conscious for their vehicles. Furthermore, growth in racing and adventure sports, such as dirt racing and off-road driving are expected to fuel growth of the overall automotive collision repair services market in the coming future. Increasing standard of living with high comfort levels has brought the automotive collision repair services market in great demand, and hence, this market is forecasted to grow yet more rapidly in the future.
Automotive Collision Repair Services Market: Regional Outlook
The automotive collision repair services market can be divided into seven different geographical regions/divisions: North America, Latin America, Western and Eastern Europe, Asia-Pacific excluding Japan (APEJ), Japan, and Middle East and Africa. North America and Europe have a high standard of living with luxurious lifestyles and high disposable incomes, this has led to the growth of automotive collision repair services in the respective regions as the consumers have the capability to replace the defective components.
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Moreover, Consumers are very conscious to repair their vehicles after an accident or mishap, moreover customers have developed a liking towards the comfortable and smooth riding experience after completion of servicing and repairs. Paints and coatings have a high replacement rate in automobiles, which may arise from small scratches to heavy damages, thus the automotive collision repair services market is expected see rapid growth in all developed and developing countries in the future.
Emerging economies in the APEJ region, countries like India and China, is the target market for all the automotive industries thus the growth of the automotive collisions repair services will depend on the APAC region. Additionally, in countries such as China, India and Brazil automobiles are considered as a basic mode of transportation and hence, there is enormous growth potential for the automotive collision repair services market in the near future.
The automotive collision repair services market is anticipated to grow with a significantly growing CAGR in the coming future owing to the increasing number of consumers opting for these services in motorcycles and bikes globally. Furthermore, new technologies and inventions in automotive collision repair services will foster growth in the global market.
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Automotive Collision Repair Services Market: Market Participants
Examples of some of the market participants in the global automotive collision repair services market identified across the value chain include: 3M, ABRA Auto Body & Glass, BASF, Continental, Service King, Caliber Collision, Robert Bosch GmbH, DuPont, Honeywell International Inc., Federal-Mogul Corporation, Denso Corporation, ZF Friedrichshafen AG, Faurecia, Bridgestone Corporation.
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