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Report provides comprehensive information on Car Wash System Market forecast, historic data, with business development strategies, upcoming opportunities, and regional outlook. Global Car Wash System market is expected to grow at highest CAGR by the end of year 2023.Car Wash System Automotive Industry Key Players Analyzed in Report 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).
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Car Wash System Market Highlights:
The global Car Wash System market is growing pervasively mainly due to 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.
Industry Segmentation:
Global Car Wash System Market is segmented into 3 key dynamics for an easy grasp and enhanced understanding.
Segmentation by Type - Gantry Car Washes, Conveyor Tunnel System, Self-service Car Washes and Others
Segmentation by application - Passenger car, Commercial vehicle
Segmentation by Regions: North America, Europe, APAC and Rest of the World.
Regional Analysis:
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.
Industry News:
November 2017- Mark VII Equipment Inc., subsidiary of WashTec AG has entered into a partnership agreement with Wash-N-Shine Car Wash Systems to sell and service Mark VII products in Kentucky, eastern Indiana and southwestern Ohio.
July 2017- Istobal, S.A. won Danish tender for the supply of car wash equipment for Oil Company OKQ8. This tender is applicable for a tenure of three years. This agreement includes the supply of rollovers and numerous accessories such as vacuum cleaners and mat cleaners.
List of Tables:
Table 1 Global Car Wash System Market: By Region, 2017-2023
Table 2 North America Car Wash System Market: By Country, 2017-2023
Table 3 Europe Car Wash System Market: By Country, 2017-2023
Table 4 Asia Pacific Car Wash System Market: By Country, 2017-2023
Table 5 RoW Car Wash System Market: By Country, 2017-2023
Continued…
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