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(Transportation-News.com, October 24, 2017 ) In 2012, the global automotive collision repair market was valued around USD 163.39 billion and is anticipated to reach approximately USD 246.78 billion by 2022, while maintaining a compound annual growth rate (CAGR) of 3.78% during the forecast period owing to the augmented technological advancements and subscriptions of automobile insurance. The modern age automobiles have superior safety features set up in them that have contributed to reducing losses on roads. Contrarily, accidents & impacts caused vehicular damage is amplified, directly affecting the revenue produced in the automotive collision repair industry worldwide. The market includes numerous sales-valuation models. For example, many retail merchants of automobiles sell DIY (Do-It-Yourself) kits to customers who desire to repair their cars themselves. In several suburban areas in the Asia Pacific and Latin American, this trend is observed. Some retail merchants sell to specialized restoration and auto service centers particularly. OEMs have generated their own many channels to sell their branded components to repairing departments. The automotive industry is experiencing a rise in the hybrid electric and gas cars demand, contributing to a boost in the specific tools and spare parts demand for these exclusive cars. The augment can be assigned to the augmented prices of petrol engine-based automobiles as well as petrol.
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Vehicle Type Outlook and Trend Analysis
The global automotive collision repair market has been categorized according to vehicle types as, heavy-duty and light-duty vehicles. The light-duty vehicles section constitutes sedans, hatchbacks, crossover, and SUVs cars; while, multi-axle and commercial vehicles like buses and trucks, are classified under the segment of heavy-duty vehicles. The global market demand for another transportation options and government-directed initiatives to amend the fuel economy as well as the Alternative Fuel Vehicles (AFVs) will boost the light-duty vehicle sales in the approaching years. The industry sales would be mainly motivated by the acceptance of automobiles that operate on alternative fuels completely and automobiles with numerous drivetrain electrification levels.
Market Classification
Automotive Collision Repair Market By Type, Estimates and Forecast, 2016-2025 ($Million)
Light-duty
Heavy-duty
Automotive Collision Repair Market By Product, Estimates and Forecast, 2016-2025 ($Million)
Coatings & Paints
Consumables
Automotive Collision Repair Market By Region, Estimates and Forecast, 2016-2025 ($Million)
North America
North America Automotive Collision Repair Market, By Country
North America Automotive Collision Repair Market, By Type
North America Automotive Collision Repair Market, By Product
U.S. Automotive Collision Repair Market, By Type
U.S. Automotive Collision Repair Market, By Product
Canada Automotive Collision Repair Market, By Type
Canada Automotive Collision Repair Market, By Product
Mexico Automotive Collision Repair Market, By Type
Mexico Automotive Collision Repair Market, By Product
Research Methodology
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
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Data Mining
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
About Crystal Market Research
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