Global Automotive Collision Repair Market – Description
Denting, painting, repairing, and replacing unintentionally damaged car parts are all included in automotive collision repair. The insurance companies pay for the expense of the collision repair. These insurance-providing businesses are connected to the businesses that offer auto collision repair services.
Automotive collision repair is the process of restoring and replacing an automobile that has been damaged in an accident. It comprises denting, painting, patching, restoring, replacing, and refinishing of structural or cosmetic auto parts, such as bumpers, glass windows, and automobile doors. In order to fix dents and scratches, paints, scratch-resistant coatings, spare parts, and other refinishing items are routinely used.
Additionally, it includes a range of consumables including glue and motor oil. Tools, crash parts, mechanical parts, and repair supplies are a few types of spare parts utilised in repairs. Independent, accredited garages frequently handle repairs for small, medium, and large commercial vehicles.
The restorative and replacement processes carried out on automobiles damaged in an accident are referred to as automotive collision repair. Including bumpers, glass windows, and car doors, it entails denting, painting, mending, restoring, replacing, and refinishing of structural or cosmetic components of the autos. Paints, scratch-resistant coatings, spare components, and other refinishing products for restoring dents and scratches are frequently utilised in car accident repair. It also covers a variety of consumable goods like glue and engine oil. Repair supplies, crash components, mechanical components, and tools are some examples of spare parts used in repairs. For passenger, light, and large commercial vehicles, the repairs are often made at independent, accredited garages.
Global Automotive Collision Repair Market- Overview
The Global Automotive Collision Repair Market is presently worth USD 185.2 billion and is poised to amplify at a CAGR of 2.39% over 2022-2030, thereby amassing a valuation of USD 212.6 billion by end of the assessment timeline.
Growing consumer demand to enhance service quality and profitability in various workshops would be the primary driver of automotive collision repair market share. In several emerging economies, such as Brazil, Mexico, China, India, and others, increased disposable income is also encouraging industry expansion for the predicted period of time for the car collision market.
The availability of qualified expert technicians and the growing dealership network might be credited for this. The two primary elements that affect the vehicle collision repair market share globally are high-quality products and warranty services. The technical complexity of new cars is increasing, which supports the knowledge and tools required to undertake repairs and broadens the market for dealer-owned shops.
Global Automotive Collision Repair Market- Segmental assessment
• Paints and coatings
• Adhesive and sealants
• Finishing compounds
• Two wheelers
• New OEM
By auto body shops
• Dealer owned shops
• Independent repair shops
Global Automotive Collision Repair Market- Geographical landscape
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, Asia-Pacific is projected to capture a substantial revenue share over 2022-2030, The region now needs more structured auto body shops as a result of infrastructure development in many different countries and an increase in accidents as a result of more automobiles on the road.
Global Automotive Collision Repair Market- Competitive landscape
The prominent companies defining the competitive terrain of this marketplace are 3M Company, Automotive Technology Products LLC, Caliber Collision, Continental AG, Denso Corporation, DuPont de Nemours Inc., Eastman Chemical Company, Faurecia SE, Honeywell International Inc., IAC Group, Magna International Inc., Robert Bosch GmbH and Tenneco Inc.
Frequently Asked Questions
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