According to the research report titled ‘Automotive Collision Repair Market Size, Share & Trends Analysis Report By Product; By Vehicle Type; By End-Use; By Region, Segments & Forecast, 2019 – 2026’, available with Market Study Report, global automotive collision repair market is expected to reach a valuation of USD 219.62 billion by the year 2026.
 

Growing demand for advanced protective materials coupled with focus among manufacturers towards complying with strict regulations regarding vehicle safety are major factors driving the growth of global automotive collision repair market.
 

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Technological advancements and proliferating sales of electric as well as hybrid vehicles are also propelling the market expansion. Additionally, inclination towards digitalizing automotive repair & collision services is stimulating the overall industry outlook.
 

Highlighting the product landscape, global automotive collision repair industry is split into spare parts, paints & coatings, and consumables. The report states that spare parts segment held the largest market share in recent past and is expected to grow continuously during the analysis timeframe. Mounting number of road accidents have impelled the demand for spare parts for vehicular maintenance, in turn favoring the overall market scenario.
 

Alternatively, worldwide automotive collision repair market share from paints & coatings segment is slated to record stellar growth in the ensuing years. Rising environmental concerns and technological breakthroughs have allowed for the development of eco-friendly and innovative paints & coatings, thereby fueling the segmental share.
 

Considering the geographical landscape, Europe captured majority share in global automotive collision repair industry in the year 2018 and is predicted to display consistent growth trends in the forthcoming years. Booming automotive industry along with escalating R&D investments and subsequent technological advancements are favoring the regional market outlook.
 

Additional factors such as rising concerns regarding passenger safety, increasing number of road accidents, and advent of driverless vehicles are also adding traction to the growth of Europe automotive collision repair market.
 

Henkel AG & Co. KGaA, Caliber Collision, Automotive Technology Products LLC, Federal-Mogul Corp., Robert Bosch GmbH, Johnson Controls Inc., Honeywell International Inc., Continental AG, 3M Co., and Denso Corp. are the prominent companies operating in global automotive collision repair industry.