The Latin America, Middle East and Africa Automotive Collision Repair Market would witness market growth of 3.1% CAGR during the forecast period (2021-2027).
Technological advances in claims, insurance, and the car aftermarket have resulted in the creation of novel repair procedures and processes, considerably expanding the potential for the expansion of commercial and passenger vehicles. Numerous top manufacturers, notably Daimler AG and BMW Group use sophisticated 3D printing technology to produce replacement parts and associated car components.
Paints, clear finishes, and other supplies, such as car parts and supplies, are widely utilized in the market. Paints and coatings are used to hide dents and scratches on automobile bodies. With the introduction of the new generation of automobiles in unique service repair procedures, the increased penetration of gas and hybrid electric automobiles is likely to further push the business.
Many people in the UAE prefer multi-brand outlets over OEM due to the less repair time and enhanced customer experience. Moreover, due to the growing disposable income of the people of Dubai, they prefer to install new original parts for damaged parts. In addition, in other countries like South Africa, Brazil, and Argentina, the cost of repair at OEM authorized service center is approximately double the cost of repair at medium-sized third party service workshop. Hence, people living in these countries are inclined towards 3rd party workshops to get cost-efficient services. The presence of multiple vehicle repair shops that focus on efficiency and productivity has become critical for the automobile industry sector.
The Brazil market dominated the LAMEA Automotive Collision Repair Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4.3 billion by 2027. The Argentina market is anticipated to grow at a CAGR of 3.7% during (2021 - 2027). Additionally, The UAE market would exhibit a CAGR of 2.9% during (2021 - 2027).
Based on Product, the market is segmented into Spare Parts, Consumables and Paints & Coatings. Based on Service Channel, the market is segmented into OE, do-it-yourself (DIY), and DIFM. Based on Vehicle Type, the market is segmented into Light-duty Vehicle and Heavy-duty Vehicle. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Automotive Collision Repair Market is Predict to reach $208.3 Billion by 2027, at a CAGR of 1.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Automotive Technology Products LLC, International Automotive Components (IAC) Group, 3M Company, Continental AG, Robert Bosch GmbH, Honeywell International, Inc., Denso Corporation, Tenneco, Inc., Magna International, Inc., and Faurecia (Groupe PSA).
By Product
By Service Channel
By Vehicle Type
By Country
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