The global automotive collision repair market is segmented on the basis of product type, vehicle type, and service type. On the basis of product type market is segmented into paints and coatings, consumables, spare parts, and others.
Sarasota, FL -- (SBWIRE) -- 07/13/2018 -- Automotive Collision Repair Market: Overview
Automotive collision repair market includes the repair services and materials used for the re-working of a car for restoring ruined parts and components of a vehicle and returning it to its complete genuine condition after an accidental damage or due to any other reason. Increasing unfortunate events such as road accidents and natural calamities which are responsible for damaging the vehicles are propelling the growth of the automotive collision repair market. In addition to this, insurance, accident claims, and development in the technology of automotive repair equipment and services have led to the further development of the automotive collision repair market during the forecasted period. There is a number of local shops and company-owned outlets that offer automotive collision repair services to the customers.
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Automotive Collision Repair Market: Growth Factor
The growth of the automotive collision repair market is directly depended on the growth of the automotive market. With the growing automotive sector increases road traffic which increases the accidents occurred on road, this is the primary reason for the growth of the automotive collision repair market. Along with this rising concern for road safety and increasing, strict automobile standards and guidelines are also influencing the automotive collision repair market. The development of the automotive sectors in the field of hybrid and electric cars are also going to help the market to grow during the forecasted period.
Automotive Collision Repair Market: Segmentation
The global automotive collision repair market is segmented on the basis of product type, vehicle type, and service type. On the basis of product type market is segmented into paints and coatings, consumables, spare parts, and others. On the basis of types of vehicles, the automotive collision repair market is divided into light-duty vehicles and heavy-duty vehicles. Further lightweight vehicles are classified into hatchbacks, sedans, SUVs, and crossover cars and heavy-duty vehicles are classified into commercial and multi-axle vehicles such as trucks and buses. On the basis of the sales channel, the market is classified into company-owned outlets and private outlets. And lastly, on the basis of service type the market is bifurcated into Do-It-Yourself (DIY), Do-it-for-Me (DIFM), and Delegating-to-OEM (OE).
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Automotive Collision Repair Market: Regional Analysis
Geographically, the global automotive collision repair market is broadly divided into North America, Asia Pacific, Europe, Latin America, Middle East and Africa. North America and Europe is the prominent region and are dominating the automotive collision repair market. The customer base in North America has a high standard of living with luxurious lifestyles and high disposable incomes, which leads to the growth of automotive collision repair services in the respective regions. The consumers in this region have the capability to replace the defective components and repair their vehicles towards the comfortable and smooth riding experience due to high income. The vehicles sales in the developing countries like India and China are leading to significant growth of the Asia Pacific market for automotive collision repair industry. An increase in vehicle damage due to lack of stringent driving regulations in the region is further driving market growth. Along with this, the automotive collision repair markets of the Middle East and Africa, and Latin America are expected to show significant growth during the forecasted period.
Automotive Collision Repair Market: Key Players
Some of the prominent players in field of automotive collision repair industry are 3M, BASF, Johnson Controls Inc, Automotive Technology Products LLC, Continental AG, Denso Corporation, Mitsuba Corporation, Faurecia, Honeywell International Inc, ABRA Auto Body & Glass, International Automotive Components Group, Magna International Inc, Mann+Hummel Group, Federal-Mogul LLC, Martinrea International Inc, Robert Bosch GmbH, Service king and Takata Corporation.
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Automotive Collision Repair Market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa