Based on product, the automotive collision repair market is classified into finishing compounds, abrasives, adhesives & sealants, paints & coatings, and crash parts. The abrasives segment is likely to register a steady CAGR over 2% during the forecast timeline. These generally play a major role in the quality as well as efficiency of each collision repair technician's work.
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In terms of vehicle, the overall automotive collision repair market is categorized into two-wheelers, HCV, LCV, and PCV. The two-wheelers segment is estimated to register around 2.5% over the analysis period owing to the immense number of road accidents in emerging economies of Asia Pacific and Latin America.
With respect to source, the automotive collision repair market is segmented into remanufactured, recycled, aftermarket, and new OEM. The remanufactured segment is projected to grow at a moderate CAGR of over 2.5% over the assessment period. Based on auto body shops, the automotive collision repair industry is divided into independent retail shops and dealer owned shops. Among these, the independent retail shops are likely to dominate with the largest market share of almost 80% during the review period.
The automotive collision repair market is likely to register lucrative growth owing to technological advancements in automotive repair technology and rising prevalence of road accidents due to poor safety laws. Since cars have become extremely complex over the past few years, automotive collision repairs have also become complex affairs.
Nowadays, the collision repair technicians have to deal with high-tech materials and technologies that are embedded in the vehicle by the manufacturer, which creates the need for extremely specialized repairs. These are done with the help of computer programs, providing thorough information on what all parts are needs, the cost of parts and labor, and procedures for the repair.
From a regional frame of reference, the Latin America automotive collision repair market is estimated to register a healthy CAGR of over 3.5% through the forecast period owing to high prevalence of road accidents in the region due to poor road safety laws. The Middle East & Africa region will witness steady growth owing to increasing presence of service providers.
Some Point from Table of Contents:
Chapter 4. Automotive Collision Repair Market, By Product
4.1. Automotive collision repair industry share by product, 2019 & 2026
4.2. Crash parts
4.2.1. Market estimates and forecast, 2016-2026
4.2.2. Market estimates and forecast, by region, 2016-2026
4.3. Paints and coatings
4.3.1. Market estimates and forecast, 2016-2026
4.3.2. Market estimates and forecast, by region, 2016-2026
4.4. Adhesives & Sealants
4.4.1. Market estimates and forecast, 2016-2026
4.4.2. Market estimates and forecast, by region, 2016-2026
4.5.1. Market estimates and forecast, 2016-2026
4.5.2. Market estimates and forecast, by region, 2016-2026
4.6. Finishing compounds
4.6.1. Market estimates and forecast, 2016-2026
4.6.2. Market estimates and forecast, by region, 2016-2026
4.7. Others (tools & equipment)
4.7.1. Market estimates and forecast, 2016-2026
4.7.2. Market estimates and forecast, by region, 2016-2026
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