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Automotive Collision Repair Market Worth USD 206.46 Billion By 2025: Hexa Research

Automotive Collision Repair Market Worth USD 206.46 Billion By 2025: Hexa Research

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The global “Automotive Collision Repair Market” Size was estimated at 165.60 billion in 2016 and is expected to grow on account of increasing sale of automobiles worldwide, digitalization in auto repair companies, need for improved repair quality in collision repair centers and technology advancements in auto parts fabrication.

The global Automotive Collision Repair Market to reach USD 206.46 billion by 2025, driven by a surge in automobile production, digitalization of automobile repair services and advances in manufacturing technology such as 3D printing of automotive parts to optimize costs. Europe was the largest market accounting for 44.9% of the revenue share in 2016. However, it is expected to lose its share over the forecast period on account of increase in trade barriers created by Brexit.

The increase in demand for vehicles driven by improvement in lifestyle in developing countries such as India and Brazil is expected to drive the growth of the market. Asia Pacific is anticipated to witness the fastest growth over the forecast period at a CAGR of 3.7% on account of increase in production and sale of automobiles and rising living standard. The increase in the number of vehicles on the road in countries such as China and India is expected to drive growth.

The automobile industry is expected to grow on account of increasing demand for passenger cars. Increasing number of accidents due to the lack of proper infrastructure is projected to drive the demand for spare parts and other special tools. The collision repair market is expected to grow at a CAGR of 2.5% from 2017 to 2025. The requirement of quick turnaround time for replacement of parts is likely to be an opportunity for growth of the market.

Companies are investing extensively in R&D to enhance technology. For instance, in July 2016, BASF announced plans to step up its R&D activities for automotive coatings to a new world-class platform at the BASF Innovation Campus Asia Pacific in Shanghai, China.

In addition to this companies are adopting the strategy of merger & acquisition. In February 2016, 3M Automotive Aftermarket Division collaborated with the German-based Tool Technic Systems AG & Co. KG to provide the collision repair industry a comprehensive surface preparation and finishing system. The new system is expected to launch in US and Canada impacting the growth of the market in North America.

In September 2016, BASF acquired Guangdong Yinfan Chemistry, China. This acquisition resulted in an addition of Yinfan’s products to BASF’s portfolio and enabled BASF to expand its portfolio in Asia Pacific.

Browse Details of Report @   https://www.hexaresearch.com/research-report/automotive-collision-repair-industry   

Hexa Research has segmented the global automotive collision repair market on the basis of product, vehicle type, end-use and region: 

Segmentation by product, 2014 – 2025 (USD Million)

• Paints & Coatings

• Consumables

    • Abrasives

        • Fine Abrasives

        • Coarse Abrasives

    • Compound

    • Polishes

    • Glazes

    • Paint Spray Equipment

        • Paint cups

        • Others

    • Cleaners and Removers

    • Buffing pads

• Others

Segmentation by type of vehicle, 2014 – 2025 (USD Million)

• Light Duty Vehicle

• Heavy Duty Vehicle

Segmentation by end use, 2014 – 2025 (USD Million)

• OEM Manufactures

• Recycled OEM

• Aftermarkets

• Refurbished Products

Segmentation by region, 2014 – 2025 (USD Million)

• North America

    • US

    • Canada

    • Mexico

• Europe

    • Germany

    • UK

• Asia Pacific

    • China

    • Japan

    • India

• Central and South America

    • Brazil

• Middle East and Africa

    • Saudi Arabia

Browse Related Category Market Reports @

Automotive Fuel Cell Market

Automotive Sunroof Market  

Industrial Machinery Market

About Us:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

For More Information @ https://www.hexaresearch.com

Media Contact
Company Name: Hexa Research
Contact Person: Ryan Shaw
Email: Send Email
Phone: +1-800-489-3075
Address:Felton Office Plaza, 6265 Highway 9
City: Felton
State: California
Country: United States
Website: www.hexaresearch.com/research-report/automotive-collision-repair-industry

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