Automotive Collision Repair Market in Latin America to reach
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Posted On: 09/27/2017 3:22:22 AM
North America automotive collision repair market was valued over USD 42 billion in 2016, and is anticipated to show comparatively slow growth during the forecast timeframe. Automotive Collision Repair Market size is estimated to surpass USD 220 billion by 2024; according to a new research report by Global Market Insights, Inc.
Increasing demand for the enhancement of damage control, and repair quality will positively impact the automotive collision repair market share over the coming years. Continuous technological advancements in ancillary products coupled with supplementary services such as painting, denting, and body maintenances will further augment the industry demand. Rising intra-city and intercity goods and passenger transportation is likely to stimulate commercial automobiles on the road.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/108
Consumer trends in shared mobility behavior will positively influence the automobile demand. Shared mobility vehicles witness higher wear and tear degree than personal vehicle that is likely to favor industry growth over the forecast timeframe. Rising technical, software, and electronic complexities associated with new generation vehicles will support the investments and expertise. are required for handling the repairs. These factors are limiting the reach of small & independent businesses.
Rising investment from major industry participants to enhance their services and quality will pave an opportunistic way for the automotive collision repair market. Increasing demand for hybrid and electric vehicle owing to surging fuel prices will increase the product penetration. Advent of nascence technologies such as night vision with pedestrians control, lane departure warning, forward collision repair, connected cars, automatic emergency braking system, and autonomous driving may restrict the industry growth over the coming years.
Finishing compounds are expected to exhibit growth of over 3% over the projected time line. Paints & coatings are the most commonly used products in the auto industry. This wide acceptance is credited to the rising road congestion that poses risk of minor dents and small crashes resulting in the need to restore the vehicle’s original color.
Light duty vehicles are expected to dominate the automotive collision repair market till 2024. Technological advancements including 3D stereo photogrammetry for accurate measurement and documentation of the accident damage will contribute in revenue generation. Moreover, associations like NASTF-National Automotive Service Task Force in the U.S. have formed a Collision Repair Committee (CRC) that supports in recognizing, addressing, and resolving the service gaps. It will help auto body shops achieve a complete and safe vehicle restoration.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/108
Original Equipment Manufacturers (OEMs) will account for highest revenue share by 2024 owing to the consumer’s high trust level towards the brand manufacturers. Predilection towards warranty offered and customer’s brand loyalty are other factors that will support the OEMs dominance. The original products offer benefits such as better performance, longer product lifecycle, and reliability than the counterparts, will further escalate the OEM’s share in the automotive collision repair market.
Aftermarket is anticipated to exhibit a maximum CAGR of over 4% from 2017 to 2024. Aftermarket parts are developed by the third-party companies specializing in manufacturing of the auto components that may match the original parts quality and specifications. This growth can be primarily attributed to its cost effectiveness as compared to the original manufacturer’s auto parts.
Europe automotive collision repair market is predicted to dominate the industry in terms of revenue share over the forecast timespan. Rising demand of painting & coating in Eastern Europe is another factor responsible for catapulting the regional growth till 2024. Increasing replacement of damaged plastics & metal parts will significantly contribute in the revenue generation.
The companies operating in the automotive collision repair market includes 3M company, ZF Friedrichshafen AG, Honeywell International Inc., Federal-Mogul Holdings Corporation, Denso Corporation, Continental Corporation and Bosch and Faurecia. Industry players are investing heavily on modernization of their services and technology used for strengthening their foothold in the highly competitive industry. For instance, ZF Friedrichshafen AG invests over 5% of its sales in R&D activities assuring success by means of engineering and design of innovative technologies.
Automotive collision repair market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD billion from 2012 to 2024, for the following segments:
Automotive Collision Repair Market, By Product
• Paints & coatings
• Adhesives & sealants
• Abrasives
• Finishing compounds
• Others
Automotive Collision Repair Market, By Vehicle
• Light-duty
• Heavy-duty
Automotive Collision Repair Market, By End-Use
• New OEM
• Aftermarket
• Recycled
• Remanufactured
The above information is provided on a regional and country basis for the following:
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Belgium
• Netherlands
• Asia Pacific
• China
• India
• Japan
• Australia
• Latin America
• Brazil
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Increasing demand for the enhancement of damage control, and repair quality will positively impact the automotive collision repair market share over the coming years. Continuous technological advancements in ancillary products coupled with supplementary services such as painting, denting, and body maintenances will further augment the industry demand. Rising intra-city and intercity goods and passenger transportation is likely to stimulate commercial automobiles on the road.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/108
Consumer trends in shared mobility behavior will positively influence the automobile demand. Shared mobility vehicles witness higher wear and tear degree than personal vehicle that is likely to favor industry growth over the forecast timeframe. Rising technical, software, and electronic complexities associated with new generation vehicles will support the investments and expertise. are required for handling the repairs. These factors are limiting the reach of small & independent businesses.
Rising investment from major industry participants to enhance their services and quality will pave an opportunistic way for the automotive collision repair market. Increasing demand for hybrid and electric vehicle owing to surging fuel prices will increase the product penetration. Advent of nascence technologies such as night vision with pedestrians control, lane departure warning, forward collision repair, connected cars, automatic emergency braking system, and autonomous driving may restrict the industry growth over the coming years.
Finishing compounds are expected to exhibit growth of over 3% over the projected time line. Paints & coatings are the most commonly used products in the auto industry. This wide acceptance is credited to the rising road congestion that poses risk of minor dents and small crashes resulting in the need to restore the vehicle’s original color.
Light duty vehicles are expected to dominate the automotive collision repair market till 2024. Technological advancements including 3D stereo photogrammetry for accurate measurement and documentation of the accident damage will contribute in revenue generation. Moreover, associations like NASTF-National Automotive Service Task Force in the U.S. have formed a Collision Repair Committee (CRC) that supports in recognizing, addressing, and resolving the service gaps. It will help auto body shops achieve a complete and safe vehicle restoration.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/108
Original Equipment Manufacturers (OEMs) will account for highest revenue share by 2024 owing to the consumer’s high trust level towards the brand manufacturers. Predilection towards warranty offered and customer’s brand loyalty are other factors that will support the OEMs dominance. The original products offer benefits such as better performance, longer product lifecycle, and reliability than the counterparts, will further escalate the OEM’s share in the automotive collision repair market.
Aftermarket is anticipated to exhibit a maximum CAGR of over 4% from 2017 to 2024. Aftermarket parts are developed by the third-party companies specializing in manufacturing of the auto components that may match the original parts quality and specifications. This growth can be primarily attributed to its cost effectiveness as compared to the original manufacturer’s auto parts.
Europe automotive collision repair market is predicted to dominate the industry in terms of revenue share over the forecast timespan. Rising demand of painting & coating in Eastern Europe is another factor responsible for catapulting the regional growth till 2024. Increasing replacement of damaged plastics & metal parts will significantly contribute in the revenue generation.
The companies operating in the automotive collision repair market includes 3M company, ZF Friedrichshafen AG, Honeywell International Inc., Federal-Mogul Holdings Corporation, Denso Corporation, Continental Corporation and Bosch and Faurecia. Industry players are investing heavily on modernization of their services and technology used for strengthening their foothold in the highly competitive industry. For instance, ZF Friedrichshafen AG invests over 5% of its sales in R&D activities assuring success by means of engineering and design of innovative technologies.
Automotive collision repair market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD billion from 2012 to 2024, for the following segments:
Automotive Collision Repair Market, By Product
• Paints & coatings
• Adhesives & sealants
• Abrasives
• Finishing compounds
• Others
Automotive Collision Repair Market, By Vehicle
• Light-duty
• Heavy-duty
Automotive Collision Repair Market, By End-Use
• New OEM
• Aftermarket
• Recycled
• Remanufactured
The above information is provided on a regional and country basis for the following:
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Belgium
• Netherlands
• Asia Pacific
• China
• India
• Japan
• Australia
• Latin America
• Brazil
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
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