Stratview Research has published a new report on the Automotive Collision Repair Market, segmented by Product Type (Crash Parts, Paints and Coatings, Adhesives & Sealants, Abrasives, Finishing Compounds, and Others), by Vehicle Type (Passenger Cars, LCV, HCV, and Two Wheelers), by Source Type (New OEM, Aftermarket, Recycled, and Remanufactured), by Auto Body Shop Type (Dealer-owned Shops, Independent Repair Shops), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
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Automotive Collision Repair market is likely to witness a steady CAGR of 3.3% during the forecast period. The increasing population, rising per capita income, and growing automobile sales are driving the growth of the market.
Covid-19 has impacted the market dynamics, competition, and global supply chain of every possible market one can think of. The revenues for many, have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operations and strategy will sustain and beat the competition.
This report studies the Automotive Collision Repair Market and has segmented the market in a few ways, keeping in mind the concentration of all the stakeholders across the value chain. Following are the ways in which the market has been segmented in the report:
Based on the product type, the market is segmented as crash parts, paints and coatings, adhesives & sealants, abrasives, finishing compounds, and others. The crash parts’ segment is expected to dominate the market during the forecast period, owning to rising road accidental rates. These are designed and produced to the same specifications and tolerances as the actual parts on the vehicles and cater to the stringent road-safety requirements.
Based on the vehicle type, the automotive collision repair market is segmented as passenger cars, LCV, HCV, and two wheelers. The passenger cars segment dominates the market, due to the rising road traffic in the developing economies, strong presence of vehicle repair centers offering restoration and refurbishment services.
Based on the source type, the market is segmented as new OEM, aftermarket, recycled, and remanufactured. The new OEMs segment is expected to grow at the highest growth rate, due to provision for easier replacements, insurance policies, and warranty offered by OEMs, along with the improved durability and reliability offered with ease in installation.
Following are the key players in the Automotive Collision Repair Market:
- 3M Company
- ATP Automotive
- Caliber Collision
- Continental Corporation
- Denso Corporation
- Eastman Chemical Company
- Federal-Mogul Holdings Corp
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