Auto Collision Repair Market Statistics, Analysis & Forecast To 2024

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Auto Collision Repair Market Statistics, Analysis
Forecast To 2024
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Key Insights from Automotive Collision Repair
Market

• Auto collision repair market from paints
  coatings will witness around 2.5 CAGR over
  forecast period owing to rising traffic leading
  to rear end crash and dents. Increasing body
  maintenance to enhance vehicle aesthetics is
  escalating product demand.
• Adhesives and sealants will witness steady growth
  over the forecast timeframe with increasing
  vehicle safety norms and standards along with
  rising focus on lightweight vehicles. The auto
  manufacturers are adopting composite materials to
  keep minimize vehicle weight. Composite materials
  are unable to be welded or fastened and require
  structural adhesive.
• PCV will register USD 128 billion by 2024 with
  increasing passenger car sales over forecast
  period. According to International Organization
  of Motor Vehicle Manufacturers (OICA), in 2017,
  the overall passenger car sales across the globe
  grew by around 2 as compared to 2016. Moreover,
  shifting consumer preferences towards shared
  mobility is influencing vehicle demand. Shared
  mobility vehicles witness high wear and tear and
  is likely to favor auto collision repair market
  growth.

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Continued

• Growing intercity and intra-city goods
  transportation is likely to influence commercial
  vehicle fleets. Rising passenger cars has surged
  on-road traffic and leading to vehicle accidents
  and crashes. According to National Collision
  Database, Canada, in 2016, the number of vehicle
  accidents rose by 2 as compared to 2015.
  Increasing number of accidents will positively
  influence auto collision repair market size over
  forecast period.
• New OEMs leads auto collision repair market size
  with high consumer preference owing to quality,
  system compatibility and durability to ensure
  vehicle performance. The original component
  manufacturers are providing warranty and support
  to ensure brand loyalty. Further provision of
  benefits including reliability and better output
  will further escalate the segment revenue.
• Independent repair shops will witness steady
  growth with facilities offering economical
  repairing services. The large fleet owners prefer
  independent service shops owing to low servicing
  cost as compared to dealer owned shops.

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U.S. Automotive Collision Repair Market, By End
Use, 2017 2024, (USD Billion)

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Major Companies in Automotive Collision Repair
Market

• 3M
• Federal-Mogul Holdings Corporation
• ZF Friedrichshafen AG
• Denso Corporation
• Honeywell International Inc.
• Faurecia
• Continental Corporation
• Bosch

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Industry Coverage

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Regional Insights in Automotive Collision Repair
Market

• Asia Pacific is witness strong growth over the
  forecast timeframe with extensive production of
  automotive across the region. High vehicle sales
  in conjunction with car parc is supporting
  automotive aftermarket. Industry players are
  undergoing strategic collaborations to enhance
  regional presence. For instance, in July 2017,
  Sompo Holdings, Inc. and PT Indobuana Autoraya
  collaborated to commence automobile maintenance
  business.
• North America auto collision repair market will
  witness steady growth with increasing heavy and
  light commercial vehicle fleets. However,
  improved highway and roadway infrastructure
  restrict its size till 2024.

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