The Global auto collision repair market the size is expected to reach USD 219.62 billion by 2026 according to a new report published by Polaris Market Research.
In 2018, the aftermarket segment led the global market in terms of revenue. In 2018, Europe accounted for the majority share of the global market. The market demands advanced protective materials that also meet automotive styling highlights. The innovation of fast propelling paints and coatings supports the development of the market. Organizations are under critical pressure to strengthen safety and vehicle damage standards and guidelines, which further contributes to the growth of the market. The abundant growth of hybrid and electric vehicles will provide market opportunities for growth over the forecast period. The digitization of auto repair and collision repair services is also supporting the growth of the market.
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In 2018, Europe accounted for the highest market revenue share in the global automotive collision repair market. Key growth factors in the region include a well-established automotive industry, technological finesse, and plenty of R&D investment. Strict vehicle safety and emissions regulations are accelerating the growth of the market. Rising safety concerns, endless list of accidents, introduction of driverless cars and car embellishments and rising power are further increasing the market growth in the region. The rise of driverless cars and an increase in demand for electric vehicles is increasing the market demand. With increasing sales and aging of vehicles globally, the market is set to grow.
The global automotive collision repair market is segmented on the basis of product, vehicle type, end use, and geography. On the basis of product, the market is segmented into paints & coatings, consumables, and spare parts. Aftermarket parts accounted for the highest share of the market in 2017 due to the upsurge in road accidents. The innovation in fast propelling paints and coatings that pander to the desires of the latest defensive car materials and finishing demands is the main explanation for the development of the paints and coatings section. Paints and coatings are required to achieve an expanded selection in high-volume displays over the estimate period due to overwhelming environmental concerns associated with the use of harmful synthetic coatings and finishing materials.
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Sellers are introducing new products to meet the growing desires of customers. Additionally, leaders acquire and collaborate with the best companies in the market to improve their offerings and expand their customer base. Major market players include Denso Corporation, Continental AG, 3M, Honeywell International, Inc., DuPont, BASF, Johnson Controls, Inc., ZF Friedrichshafen, Robert Bosch GmbH, Federal-Mogul LLC, Automotive Technology Products LLC, Caliber Collision and Henkel AG&Co., KGaA.
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Polaris Market Research has segmented the Automotive Collision Repair market report on the basis of product type, vehicle type, end-use, and region.
- Automobile Collision Repair Products Outlook (Revenue, USD Billion, 2015 – 2026)
- Paints and coatings
- Spare parts
- Automobile Collision Repair Vehicle Type Outlook (Revenue, Billion USD, 2015 – 2026)
- Tourism vehicle
- commercial vehicle
- Two wheels
- Automotive Collision Repair End-Use Outlook (Revenue, USD Billion, 2015 – 2026)
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