The global automotive collision repair market size is
expected to reach USD 208.0 billion by 2025, according to a new study by Grand
View Research, Inc. It is projected to register a CAGR of 2.3% during the
forecast period. Technological advancements and subsequent development of
innovative repair techniques are anticipated to boost the market. For instance,
a new production technology, 3D printing of automotive parts, is extensively
being deployed by key players to optimize their production costs. This
technique enable efficient fabrication performance and reduces emission
toxicity.
In addition, growing
adoption of alternative fuel vehicles is anticipated to propel the market in
the forthcoming years. The U.S. government has implemented several initiatives
to support the sales and use of alternative-fuel vehicles such as cars and
trucks that run on hydrogen and natural gas. For instance, in California, air
quality is an important concern on account of which, the Federal Clean Air Act
by the California Air Resources board was implemented to reduce the vehicle
emissions.
The market poses
promising growth prospects throughout the forecast period, owing to the combination
of numerous factors such as increasing investments and research undertaken by
manufacturers to customize and diversify products. For instance, 3M Automotive
Aftermarket Division and West Coast Customs, a car customization company,
entered into a partnership to use 3M refinishing products such as abrasives,
body fillers, adhesives, coatings, paint finishing, and spray paint guns for
primer. This enabled manufacturers to enter the car customization segment.
Introduction of new
generation of vehicles in the novel service repair regimes is boosting the
demand for gas and hybrid electric cars, which is expected to further drive the
overall market. Furthermore, unorganized and untapped markets in Asia Pacific
are anticipated to create growth opportunities for major vehicle repair
vendors, which is expected to propel the global automotive collision repair
market in the forthcoming years.
Browse full research report on Automotive Collision Repair Market: https://www.grandviewresearch.com/industry-analysis/automotive-collision-repair-market
Further key findings from the report
suggest:
- Incorporation of advanced telematics such as
automotive or vehicle telematics act as a challenge to market growth. In
the automotive industry, telematics permits manufacturers to use
in-vehicle equipment such as navigation devices, communication systems,
GPS, and event data recorders and offer a wide range of information and
services
- Europe held the largest share of over 44.0% in the
global automotive collision repair market in 2018. Penetration of
vehicles with enhanced safety features will drive the regional market
- Regulations for alternative fuel vehicles were
implemented to reduce the current tax rate for advanced technology
vehicles. Government agencies have implemented rules for passenger cars,
which is expected to positively impact component sales
- Key market players include 3M; Automotive Technology
Products LLC; Continental AG; Denso Corporation; Faurecia; Federal-Mogul
LLC; Honeywell International, Inc.; International Automotive Components
Group; Johnson Controls, Inc.; Magna International, Inc.; Mann+Hummel
Group; Martinrea International, Inc.; Mitsuba Corporation; Robert Bosch
GmbH; and Takata Corporation.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/automotive-collision-repair-market/request/rs1
Grand View Research has segmented the global automotive
collision repair market based on product type, vehicle type, service channel,
and region:
Automotive Collision Repair Product Type
Outlook (Revenue, USD Billion, 2014 - 2025)
- Paints & Coatings
- Consumables
- Spare parts
Automotive Collision Repair Service Channel
Outlook (Revenue, USD Billion, 2014 - 2025)
- Do-It-Yourself (DIY)
- Do-It-For-Me (DIFM)
- Original Equipment (OE)
Automotive Collision Repair Vehicle Type
Outlook (Revenue, USD Billion, 2014 - 2025)
- Light-duty Vehicle
- Heavy-duty Vehicle
Automotive Collision Repair Regional
Outlook (Revenue, USD Billion, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- Japan
- India
- South America
- Brazil
- Middle East and Africa
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For
more info visit @ https://www.grandviewresearch.com
No comments:
Post a Comment