By CRM Staff
Toronto, Ontario – August 16, 2018 — The global automotive collision repair market will be growing by 2.5 percent within the next seven years.
A report was released recently sharing a summary of how the global collision repair market is doing. It is reported to be valued at $37,200 million U.S. last year and will supposedly reach $45,300 million U.S. by the end of 2025.
In 2015, Europe was the largest growing regional market for automotive collision repair products. They held 31 percent share in the global market, followed by North America with the market share of 24 percent. Collision repair products have also been in demand for Asian countries such as China.
In 2016, the auto spare placed as the largest aspect of the industry with around 70 percent production share of the total market. Coating and paints accounted for 24 percent of the market share in terms of revenue.
The report goes over the different segments within the industry that account for most of the market such as paints, coatings, automotive parts and other consumable products used for collision repairing.
It also focuses on the top manufacturer regions such as North America, Europe, Japan, China, India, Southeast Asia and more. It also goes over the following companies: Valeo, Magna, Denso, PPG Industries, Hyundai Mobis, Axalta, Bosch, Aisin Seiki, BASF, 3M, Faurecia, Nippon Paint, Akzonobel, Plastic Omnium, ZF, DuPont, HBPO and Kansai.
