DUBLIN--(BUSINESS WIRE)--The "North America Automotive Collision Repair Market By Product, By Service Channel, By Vehicle Type, By Country, Opportunity Analysis and Industry Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The North America Automotive Collision Repair Market is expected to witness market growth of 1.7% CAGR during the forecast period (2021-2027).
Collision repairs begin with an estimate, which is now frequently completed with the use of computer programmes that offers specific information on what parts are required, repair techniques, and parts and labour costs. Some programmes can compare dealer and recycler inventories and make an order for the parts needed immediately. The body shop evaluates the exact degree of the damage, which can be difficult because part of it is hidden. The insurance company and the customer then engage to assess if the car can be repaired inexpensively and, if so, to sanction the work.
Institutions such as the United States' National Automotive Service Task Force (NASTF) have founded a Collision Repair Committee (CRC) to identify, recognize, and resolve repair/service flaws and assist vehicle repair centers in providing comprehensive and secure automotive restoration for car owners. To expand their customer base, certain automobile service companies are increasingly embracing artificial intelligence-based automated car inspection technology. Scope Technologies, a US-based tech firm, has created an AI-assisted automated car inspection system in partnership with Microsoft's Azure cloud computing. This full visual inspection process takes less than 5 minutes and saves around 50% of the costs.
The US market dominated the North America Automotive Collision Repair Market by Country 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $40.9 billion by 2027. The Canada market is exhibiting a CAGR of 4% during (2021 - 2027). Additionally, The Mexico market is expected to witness a CAGR of 3.1% 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 U.S., Mexico, Canada, and Rest of North America.
Scope of the Study
Market Segments Covered in the Report:
By Product
- Spare Parts
- Consumables
- Paints & Coatings
By Service Channel
- OE
- do-it-yourself (DIY)
- DIFM
By Vehicle Type
- Light-duty Vehicle
- Heavy-duty Vehicle
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- 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.
- Faurecia (Groupe PSA)
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. North America Automotive Collision Repair Market by Product
Chapter 5. North America Automotive Collision Repair Market by Service Channel
Chapter 6. North America Automotive Collision Repair Market by Vehicle Type
Chapter 7. North America Automotive Collision Repair Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- 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.
- Faurecia (Groupe PSA)
For more information about this report visit https://www.researchandmarkets.com/r/65os3s.
