DUBLIN--(BUSINESS WIRE)--The "Vehicle Wash System Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
The global market for vehicle wash systems is projected to grow at a CAGR of 7% during the forecast period of 2022 to 2030. It is anticipated that the market for vehicle wash systems will as a result of the growing preference of consumers toward automation and the convenience with which vehicles may be washed and cleaned.
The expanding number of heavy vehicles used in the construction and mining sectors is one of the primary aspects that is anticipated to be one of the major factors that is likely to boost the growth of the global market for automatic vehicle washing systems in the following years.
Another driver that is expected to fuel market growth is the ongoing expansion of the automotive industry, which is being driven by the growing need for convenience. The Society of Indian Automobile Manufacturers (SIAM) reports that between the years 2020 and 2021, a total of about 2,711,457 passenger vehicles and 568,559 commercial vehicles were sold in the country of India. It is anticipated that this pattern will carry on during the entirety of the projection period, not only in India but also in other regions of the world. It is further positioned to promote sales in various markets around the world.
The Pandemic Had an Adverse Impact on the Market, yet the Market is Set for Revival
The emergence of COVID-19 has caused widespread disruption in the automotive industry. Because of this, production facilities have been forced to close, and as a result, sales volume has decreased. In addition, it is anticipated that there would be a decline in demand for commercial as well as passenger automobiles in the year 2020. As was to be predicted, this decline will have a negative impact on the vehicle wash equipment sector.
Consumer Preference, Ease, and Simplicity are the Key Factors Driving the Market Growth of the Vehicle Wash Market
Consumer preferences are the primary factor driving growth in the vehicle wash system market. More sophisticated vehicle washing technologies are being adopted at a faster rate than more traditional ones. The vehicle wash systems are in high demand in the countries of North America and Europe, while the developing economies of the Asia-Pacific region offer attractive potential for expansion to the makers.
Increasing Number of Miles Driven
According to the information that was compiled by Enerdata, a programme that is run by the European Union, a number of nations, including Austria, France, and Spain, have seen an increase in the distance that people drive in their automobiles. The rise in commercial vehicle utilization can be partially attributed to the expansion of commercial trading operations.
Because of this increase in the number of miles travelled by each vehicle, each vehicle is subjected to a greater quantity of dirt, grit, snow salt, and other such elements. These are the kinds of things that cause a vehicle's performance and aesthetic appeal to deteriorate, which in turn leads to an increase in the demand for cleaning services. As a result, growth in the global market for car and truck washes is being driven by increases in both the number of cars sold and the number of miles driven by vehicles.
Key questions answered in this report
- What are the key micro and macro-environmental factors that are impacting the growth of vehicle wash market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Vehicle Wash System market?
- Which is the largest regional market for vehicle wash market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving vehicle wash market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the vehicle wash market worldwide?
- Ryco Solutions Inc.
- Coleman Hanna
- Autec Inc.
- Wash Tec Group
- Aquarama S.r.l.
- Sonny's Enterprises LLC
- PDQ Manufacturing Inc.
- Otto Christ AG
By System (2020-2030; US$ Mn)
- Roll Overs
- Pressure Washer
By Vehicle Type (2020-2030; US$ Mn)
- Passenger Vehicle
- Commercial Vehicle
By End User (2020-2030; US$ Mn)
- Franchised Service Station
- Authorized Car Dealership
By Sales Channel (2020-2030; US$ Mn)
Region Segment (2020-2030; US$ Mn)
- North America (U.S., Canada)
- Europe & UK (UK, Germany, Spain, Italy, France, RoE)
- Asia Pacific (China, Japan, India, Australia, South Korea, RoAPAC)
- Latin America (Brazil, Mexico, RoLATAM)
- Middle East and Africa (GCC, Africa, RoME)
Global Impact of Covid-19 Segment (2020-2021; US$ Mn )
- Pre Covid-19 situation
- Post Covid-19 situation
For more information about this report visit https://www.researchandmarkets.com/r/gbmczk
Laura Wood, Senior Press Manager
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