Selbyville, Delaware, June 18, 2020 (GLOBE NEWSWIRE) --
The automotive collision repair market valuation is expected to cross USD 305 billion by 2026. Advanced tools and technology development in the automotive collision repair products will spur the market demand. Road traffic injuries are the leading causes of mortality, owing to increased motorization and high population. The lack of stringent safety and driving regulations in emerging economies are some of the factors contributing to increasing accidents, bolstering the market growth.
The paints & coatings segment in the automotive collision repair market is estimated to register a CAGR of almost 3.5% through 2026 owing to increasing customer preferences to restore vehicles with pre-collision finish. Moreover, increasing traffic congestions in urban cities, resulting in minor vehicle dents & scratches are further inducing the demand for minor paint touchups.
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HCV vehicles will register steady growth in the market over the coming years led by rising fatalities and injuries due to truck accidents. The limited view from the driver seat along with narrow roads and streets play a major role in rising cases of accidents, thus inducing the demand for automotive collision repair parts.
The recycled segment is projected to witness growth of around 3% from 2020 to 2026 driven by rising concern to develop environment-friendly automotive collision repair products. Industry participants are focusing on utilizing advanced technologies to develop recycled products, further supporting the automotive collision repair market share.
Dealer-owned shops will observe moderate gains till 2026 due to ability to offer extended warranties for the automotive collision repair products. Also, facilities such as scheduling appointments and bookings online & through mobile applications are further providing copious opportunities for the industry expansion.
Browse key industry insights spread across 260 pages with 327 market data tables & 11 figures & charts from the report, “Automotive Collision Repair Market by Product (Paints & Coatings, Adhesives & Sealants, Abrasives, Finishing Compounds), Vehicle (Passenger Cars, LCV, HCV, Two Wheelers), Source (New OEM, Aftermarket, Recycled, Remanufactured), Auto Body Shops (Dealer Owned Shops, Independent Repair Shops), Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-collision-repair-market-report
Europe automotive collision repair market is anticipated to expand at over 2.5% CAGR during the forecast timeframe. Presence of key automobile manufacturers such as BMW, Volkswagen, and Daimler, among others is likely to drive the automobile production. However, imposition of stringent road safety laws in the Western Europe is likely to limit the demand for automotive collision repair parts.
Some major findings of automotive collision repair market report include:
- Crash parts is projected to be the fastest-growing segment due to prevalence of high accidental rates resulting in crash of automobiles.
- Passenger cars to dominate by 2026 owing to rising passenger car accidents on account of increasing road density, spurring the consumption of automotive collision repair products.
- New OEMs dominate the market size due to continuous enhancements in the quality of OEM parts offering an extended life.
- Independent repair shops to witness the largest market share on account of its ability to service vehicles of multiple brands.
- Asia Pacific to register a robust CAGR of almost 4% through 2026 owing to lack of stringent road safety regulations and traffic discipline inducing the demand for automotive collision repair parts.
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Table of Contents (ToC) of the report:
Chapter 6. Automotive Collision Repair Market, By Source
6.1. Market share by source, 2016 & 2024
6.2. New OEM
6.2.1. Market estimates and forecast, 2016-2026
6.2.2. Market estimates and forecast, by region, 2016-2026
6.3. Aftermarket
6.3.1. Market estimates and forecast, 2016-2026
6.3.2. Market estimates and forecast, by region, 2016-2026
6.4. Recycled
6.4.1. Market estimates and forecast, 2016-2026
6.4.2. Market estimates and forecast, by region, 2016-2026
6.5. Remanufactured
6.5.1. Market estimates and forecast, 2016-2026
6.5.2. Market estimates and forecast, by region, 2016-2026
Chapter 7. Automotive Collision Repair Market, By Auto Body Shops
7.1. Market share by auto body shops, 2019 & 2026
7.2. Dealer owned shops
7.2.1. Market estimates and forecast, 2016-2026
7.2.2. Market estimates and forecast, by region, 2016-2026
7.3. Independent repair shops
7.3.1. Market estimates and forecast, 2016-2026
7.3.2. Market estimates and forecast, by region, 2016-2026
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/automotive-collision-repair-market-report
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