New York, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Collision Repair Global Market Report 2022" - https://www.reportlinker.com/p06325391/?utm_source=GNW
, Mann+Hummel Group, Martinrea International Inc., Mitsuba Corporation, Robert Bosch GmbH, Eastman Chemical Company, Huntsman Corporation, DRiV Incorporated, Huntsman Corporation, and DuPont de Nemours Inc.
The global automotive collision repair market is expected to grow from $181.75 billion in 2021 to $194.88 billion in 2022 at a compound annual growth rate (CAGR) of 7.2%. The automotive collision repair market is expected to reach $216.21 billion in 2026 at a CAGR of 2.6%.
The automotive collision repair market consists of the sale of automotive collision repair products and services by entities (organizations, sole traders, and partnerships) that are used for fixing the damaged parts and bodies of cars and other vehicles.Automotive collision repair refers to the process when a trained automotive technician fixes damages in cars and other vehicles that are caused by accidents, weather, and other incidents.
Collision repair includes the removal of dents, scratches, and replacement of glass, paint, and others.
The main types of automotive collision repair products are crash parts, paints and coatings, adhesives and sealants, abrasives, finishing compounds, and other products.The crash parts refer to alternative collision repair parts such as OEMs, aftermarket collision parts, salvage parts, and others.
Crash parts are used for fixing and repairing vehicles after collisions.The various service channels available are DIY, DIFM, and OE which are serviced at authorized repair shops and independent garages.
The automotive collision repair products and services are suitable for passenger vehicles, light commercial vehicles, and heavy commercial vehicles.
Western Europe was the largest region in the automotive collision repair market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the automotive collision repair market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The automotive collision repair market research report is one of a series of new reports that provides automotive collision repair market statistics, including automotive collision repair industry global market size, regional shares, competitors with a automotive collision repair market share, detailed automotive collision repair market segments, market trends and opportunities, and any further data you may need to thrive in the automotive collision repair industry. This automotive collision repair market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rise in the number of subscriptions to automobile insurance is expected to propel the automotive collision repair market going forward.Automobile insurance refers to motor insurance that provides cover for loss or damage to the insured person’s vehicle such as cars, two-wheelers, or any other commercial vehicles.
The rise in the number of subscriptions to automobile insurance compels automotive collision repair companies to come up with better services and products for their customers. For instance, according to an article by PolicyAdvice, an American website that provides insurance information in 2022 said that, 87% of US drivers have car insurance and the market has grown by 2.7% on an average over the past five years. Another report by Care, an Indian rating agency, in 2021 said that motor insurance is set to rise in 2022 and motor insurance premium is to grow by 6% to 8% in 2022. Therefore, an increase in the number of subscriptions to automobile insurance is expected to boost demand for automotive collision repair during the forecast period.
The utilization of 3D printing technology is a key trend in the automotive collision repair market.Many companies operating in the automotive collision repair market are using 3D printing tools and solutions to sustain their position in the market and to provide the best services for their customers.
For instance, in November 2019, Ding Tool LLC, an American manufacturer of paint-less dent repair tools and service provider unveiled their new set of 3D-printed paint-less dent repair tools.Ding Tool LLC partnered with B9 Creations to use 3D printing technology to develop these new tools which provide a comprehensive approach for dent repair by providing 9 points of contact with the dent per tool.
These 3D printed paint-less dent repair tools allow higher throughput which helps to fix automotive dents in a faster and more efficient way.
In April 2022, 3M, an American multinational conglomerate acquired LeanTec Technology for an undisclosed amount. This acquisition provides 3M with a new hardware and software system that will ensure the availability of safe and reliable repairs and also streamlines the blueprinting and billing process and will allow 3M to deliver a more digital and connected body shop experience for their customers. 3M believes that with LeanTec Technology they can add new levels of data integration that will allow their body shops to gain more visibility and operational efficiency, and can provide a better customer experience. LeanTec Technology is a US-based provider of digital solutions for the automotive aftermarket.
The countries covered in the automotive collision repair market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06325391/?utm_source=GNW
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