Tue, 05 May 2020 11:16
The automotive beauty market is estimated to reach a value of USD 15,129 million by 2029, with a CAGR of 4.9% during the forecast period.
The construction of self-service carwashes costs around USD 17,000 per bay, whereas automated carwashes cost approximately USD 42,000 per bay. The equipment costs depend upon numerous factors such as type of carwash and the brand of the equipment. For instance, equipment costs for a self-serve carwash are between USD 8,000 and USD 10,000 per bay, while for an automatic carwash, the cost is pegged at around USD 31,000 to USD 49,000 per bay.
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The average number of workers required for a full-service carwash is about 14 workers. Automated car washes can run without the need for labor; however, one or two workers are required for the regular monitoring of equipment to avoid unnecessary or premature repair and replacement expenses.
- Europe is projected to witness the fastest growth in the automotive beauty market, with a CAGR of 5.0%. Germany has a prominent car wash and automotive beauty market in Europe due to the increasing number of cars and the implementation of carwash laws. German laws have banned the washing of vehicles at home, which is propelling the automotive beauty market growth. Rollover and jet washes are popular washing techniques in Europe as these methods require minimal space on the forecourt, have low investment costs compared to tunnel washes, and provide owners with an appealing low wash price.
- The polishing and waxing based segment is estimated to emerge as the fastest-growing segment with a CAGR of 4.7%. Increasing demand for non-abrasive coating materials to provide a glossy, polished surface is expected to fuel the polishing and waxing segment’s growth in the coming years. The product also protects cars from UV rays, extreme weather, and contaminants, such as pollutants, dust, and acid rain.
- Turtle Wax
- In October 2017, 3M, Global car care and detailing company, launched its 100th Car Care Store in Ahmedabad, India. The new store offers a wide range of innovative exterior and interior car detailing services. The new automotive division of car care is explicitly designed to cater to the personalized taste of car owners.
Automotive Beauty Market Segmentation
- Cleaning and caring
- Polishing and waxing
- Sealing glaze and Coating
- Auto beauty shops
- Service centers and garages
- Individual sources
By Distribution Channel
- Retail store
- Service center
- North America
- Asia Pacific
- South America
- The Middle East and Africa
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast Periods
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