ID: MRFR/AM/2576-HCR | February 2021 | Region: Global | 110 pages
Car Wash System Market is projected to be worth USD 4.62 billion by 2027, registering a CAGR of 4.35% during the forecast period (2021 - 2027), The market was valued at USD 1.34 billion in 2020.
Car washing systems are the systems that are being used for cleaning the exteriors and interiors of the cars. It facilitates easy washing and cleaning of the automobile. The growth in automotive industry leads to an increase in demand for the car wash systems. The other factors driving the growth of the car wash systems market are the increase in production and sales of vehicles, reduced instances domestic car washing, and high disposable income. Also, the growth of the market is driven by features such as improved efficiency, higher safety, easy management, reliability and time efficiency.
Car washing systems are very common in developed countries. These systems are fully automated with different stages of rinsing, shampooing, washing, and drying. Consumers are becoming more aware of the benefits of car wash services such as improved efficiency and safety. Also, the increasing environmental awareness among people is driving the growth of car wash services, which ensures optimal deployment of water resources and proper dumping of solid waste, thus helping the growth of market for car wash systems. Using an automatic car wash service, is a good way to be environmentally conscious and protect the resale value of the car. Automatic car washes also save water, reduce groundwater pollution, and retain the car’s paint and finish. Technological advancement and heavy investments in car wash systems also add to the car wash system market. There is an increase in the need for professional car cleaning organizations, which are capable of providing flawless car cleaning. So, there is high demand for a professional and reliable cleaning brand over the forecast period. Other factors contributing growth of the market are continuous rise in industrialization, increasing new car registrations, decline in gasoline prices and lower interest rates on loans. Increase in the installation of mechanized and automated car wash systems is further propelling the growth of the market. Consumers have become smarter and machine savvy. Hence, there will be growth in the car washing system market during the forecast period.
However, the growth of the market is expected to be restrained by the high cost associated with manufacturers along with the low degree of awareness among consumers. Owing to this, the global car wash systems market is expected to expand with a CAGR of approx. 3% over the forecast period.
On the basis of application, the market has been segmented as Passenger car and Commercial vehicle. The major players in the market offer a complete range of Vehicle wash systems, comprising machines that are designed specifically for the care and cleaning of car interiors. The car wash system is deployed in passenger cars owing to its power of steam, hot air and a wide range of accessories, which allow complete treatment of the car’s surfaces.
Asia Pacific is dominating the market of car wash system due to the growth of the automotive industry. With the global economy undergoing an unprecedented level shift, major developing countries in Asia Pacific region such as China, India, Thailand, and Indonesia have become manufacturing hubs for global automotive players. The income levels of individuals have been steadily increasing, resulting in a rise in their disposable income. The currently booming automotive industry, combined with steadily increasing disposable income, is expected to contribute significantly in the growth of the market. The automotive repair shops and dealers are focusing on the installation of car wash systems for easy washing and cleaning of cars on a large scale. This is done with the objective to deliver the best services and bring in new concepts to the car market.
The major player operating in the market of global car wash system are WashTec AG (Germany) Daifuku Co., Ltd (Japan), Otto Christ AG (Germany), Istobal, S.A. (Spain), and Ryko Solutions, Inc (U.S.). MK SEIKO CO., LTD (Japan), D&S Car Wash Equipment Company (U.S.), PECO Car Wash Systems (U.S.), Washworld, Inc.(U.S.) and Autoequip Lavaggi S.R.L. (Italy) are among others.
The report for Global Car Wash System Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative and quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight into the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2027: USD 4.62 billion|
|CAGR||4.35% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||type, process, components and Applications|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||WashTec AG (Germany) Daifuku Co., Ltd (Japan), Otto Christ AG (Germany), Istobal, S.A. (Spain), and Ryko Solutions, Inc (U.S.). MK SEIKO CO., LTD (Japan), D&S Car Wash Equipment Company (U.S.), PECO Car Wash Systems (U.S.), Washworld, Inc.(U.S.) and Autoequip Lavaggi S.R.L. (Italy)|
|Key Market Opportunities||
|Key Market Drivers||Features such as improved efficiency, higher safety, easy management, reliability and time efficiency|
Frequently Asked Questions (FAQ) :
The car wash system market can thrive at 4.35% CAGR by 2027.
The car wash system market poised to achieve rewarding valuation by 2027.
PECO Car Wash Systems (U.S.), D&S Car Wash Equipment Company (U.S.), Autoequip Lavaggi S.R.L. (Italy), and Washworld, Inc.(U.S.) are some reputed establishments in the car wash system market.
Conveyor tunnel system, gantry car washes, and self-service car washes are some types of car wash system.
Innovations launched by reputed car wash providers in North America can bolster the regional car wash system market growth.