According to a new report Global Automotive Collision Repair Market, published by KBV research, The Global Automotive Collision Repair Market size is expected to reach $208.3 billion by 2027, rising at a market growth of 1.9% CAGR during the forecast period.
The Spare Parts segment shows high market share in the Global Automotive Collision Repair Market by Product 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $133.49 billion by 2027. This is because many parts suffer massive damage during an accident or collision. Crash components, repair components, supplemental mechanical parts, tools, restoration materials, and tools are examples of spare parts used in automobile service.
The OE segment is generating high revenue in the Global Automotive Collision Repair Market by Service Channel 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $119.74 billion by 2027. Customers' rising demand for warranties is one of the primary elements supporting OE's market dominance. OEMs provide products with advantages such as significantly improved reliability, a long product lifecycle, and improved performance.
The Light-duty Vehicle market shows high market share in the Global Automotive Collision Repair Market by Vehicle Type 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $147.15 billion by 2027. Light-duty vehicles include sedans, hatchbacks, crossover vehicles, and SUVs. Demand for additional transportation solutions, government attempts to improve fuel efficiency, and the availability of a variety of fuel automobiles are all likely to boost light-duty vehicle sales throughout the projection period.
The Asia Pacific market region is leading the Global Automotive Collision Repair Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $66.00 billion by 2027. The Europe market is anticipated to grow at a CAGR of 1.6% during (2021 - 2027). Additionally, The North America market would showcase a CAGR of 1.7% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/automotive-collision-repair-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Ajinomoto Co. Inc., Charoen Pokphand Foods Public Company Limited, Keventer Agro Limited, Cargill Corporation, Nestle S.A., Conagra Brands, Inc., General Mills, Inc., The Kraft Heinz Company, Unilever PLC, and McCain Foods Limited.
By Product
By Service Channel
By Vehicle Type
By Geography
Companies Profiled
Unique Offerings 
