LONDON, Nov. 13, 2017 /PRNewswire/ — The emergence of automatic car wash machine concept was mainly focused upon maximizing the revenues of car wash operators and earn them quick return on their investments along with achieving water sustainability. The traditional car wash models like the tunnel wash systems and in-bay automatics fetched them good revenues but the growths in deployments of these machines has been steadied in the last fiscal year.
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There has been consumer demand for quicker wash services and thus led to the emergence of express exterior car wash. Last fiscal year witnessed exponential growth in deployments of express exterior car wash machines at a numerous car wash locations. Another factor that indicates growing popularity of the express exterior carwashes is the shrinking competition radiuses. The competition radius for a carwash operator is shrinking with all the competitors performing extremely well having good number of customer footfalls at their locations.
In our study, we have segmented the automatic car wash machine market by systems, components and application. The systems segment of automatic car wash machine market includes tunnel car wash, in-bay automatics and self-serve car wash systems.
A number of components form a car wash machine. The major components that constitute a car wash machine form the basis of its market based segmentation. These segments are drives, motors, pumps, dryers, foamer systems and others.
Consumers, Industry and Others are the sectors where these car wash machines find their applications. On the basis of geography, the automatic car wash machine market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
The global automatic car wash machine market is estimated to grow at a CAGR of 3.7% during the forecast period 2017 – 2025 and accounts for US$ 6.61 Bn in the year 2025. As per the automobile associations, the global vehicular population had crossed 1 billion mark in the year 2010 itself which was driven by the aggressive growth rates in India and China in that fiscal year.
The rise in the sales of vehicles and in particular passenger cars can be attributed to the steady increase in the disposable incomes of consumers. Developing economies witnessed a steady growth in the post-recession era and thus there was rise in the disposable incomes by consumers. In the western countries, it has been observed that with the rise of vehicular population, there has