Automotive Collision Repair Services Market to be driven by Technological Advancements
The present scenario is such that growing number of subscriptions on the part of technological advancements and automobile insurance are the factors basically accelerating the automotive collision repair services market. Also, several automobile retailers are into sales of DIY (do-it-yourself) kits to the customers who prefer repairing the cars without any assistance. This trend, especially observed in the Asia-Pacific and LATAM, speaks volumes about automotive collision repair services market flourishing worldwide. More about trends in the Asia-Pacific is explained by Persistence Market Research in the section entitled “Region-wise Check” along with its latest market study termed as “Automotive Collision Repair Services Market”.
It has also highlighted the technological advancements in the form of digitization that would enable faster delivery, personalized service, and immediate access to support.
The way the Automotive Collision Repair Services Market goes about…
The global automotive collision repair services market, by type of vehicle, spans passenger vehicles, LCVs (Light Commercial Vehicles), and HCVs (Heavy Commercial Vehicles). As per service provider, it’s independent repair shops, franchised repair shops, and authorized repair shops. By type of product, it’s paints and coatings and parts and components. By product, it’s spare parts, consumables, and paints & coatings. Out of these, LCVs hold the largest market share (more than 70%). This could be credited to LCVs being abreast with SUVs, sedans, hatchbacks, and various crossover cars. HCVs are inclusive of multi-axle and commercial vehicles like buses and trucks. HCVs are expected to find their presence in transportation of numerous bulk products within any region. By product, paints & coatings hold the largest market share. It is a known fact that spare parts that are used in automobile service delivery are inclusive of repair materials, crash parts, restoration materials, supplementary mechanical parts, and tools. Persistence Market Research has, through its team of analysts and consultants, has given these details along with calls to action in its latest market study entitled “Automotive Collision Repair Services Market”.
Europe holds more than 40% of the market share. The region is expected to go steady in this regard in the upcoming period. North America stands second due to an ever-increasing penetration of electric and hybrid vehicles. The Asia-Pacific is expected to grow at the fastest pace in the automotive collision repair services market due to growing number of sales of vehicles, followed by an upscalation in vehicular damage due to lack of stern driving regulations herein. Persistence Market Research has entailed these findings with the subsequent courses of action in its latest market study entitled “Automotive Collision Repair Services Market”.
The Competitive Arena
Persistence Market Research has profiled the key players in automotive collision repair services market as 3M, Abra Auto Body & Glass, BASF, Continental AG, Robert Bosch, DuPont, Honeywell International GmbH, Federal-Mogul Corporation, Denso Corporation, ZF Friedrichshafen AG, Caliber Collision, Service King, Faurecia, gerber Collision & Glass, and AMM Collision. It has gone further with enlisting the developments on this front. For instance – 3M Automotive Aftermarket Division, in July 2018, did launch a collision repair app absolutely free of cost. The objective of this app is to support distributors and technicians for obtaining the information required pertaining to collision repair.
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