Car Care Market Overview

Part
01
of six
Part
01

Car Care Market: Consumer Trends

The most prominent consumer trends that are impacting the car care market in the United States include (1) Rising demand and growth of car detailing services, (2) Growth of express car wash services, (3) Demand for auto beauty shops, (4) Popular use of water-based solvents and eco-friendly detailing.

(1) RISING DEMAND AND GROWTH OF CAR DETAILING SERVICES

  • The car detailing sector has seen phenomenal growth in the past few years and is projected to grow at a higher rate in the future. Several reasons have been noted to be accountable for the increasing popularity of car detailing. The most significant ones include the growing demand for vehicles.
  • About 17 million light vehicles were registered across the United States in 2016. This figure is 183,000 higher than those recorded in 2015.
  • By January 2017, vehicles roaming the streets of America reached 278.6 million, a figure 2.4% more than 2016 count. Experts estimate that the number of car units would reach 284 million by the year 2020.
  • Auto dealers demand car detailing services for used vehicles to make them ready for resale.
  • Car owners also require car detailing services whenever they want to get their cars cleaned up and polished.
  • Fashionable/modern car exterior detailing services in the United States include wash and dry services, clay work using clay bars, car polishing, and car seal application which renders the cars a glossy look.
  • With 6,000 car wash establishments in 2018, car detailing services in America grew at an average rate of 3.3% between 2017 and 2018.
  • The employment rate of automotive service technicians, as well as mechanics that offer car detailing service, is projected to increase by 17% between 2010 and 2020. 

(2) GROWTH OF EXPRESS CAR WASH SERVICES

  • Full-service car wash operators across America are combating the industry disruptions by adding "express lanes to their offerings" remain competitive.
  • Many express car wash service operators provide additional amenities to improve conveniences and boost the experience of their customers. Such services are driving an evolution in car wash retail services.
  • Car wash customers are demanding more and more value, and this has brought about a shift in the industry "that is creating a proliferation" of express (mobile) car wash locations.
  • Express (mobile) car wash units as of 2019 out-number full-service by the ratio 2 to 1 across Phoenix. They require less labor and advances in technology makes them offer services similar to full-service, hand-wash, hand-dry operators which are already feeling the pressure and are "being washed out" of operation.
  • The mobile car wash industry is highly fragmented as 50 of the largest United States companies control less than 20% of the mobile car wash market.
  • The mobile car wash industry grew by 3.3% between 2017 and 2018, reaching $7.7 billion in 2018. It's market growth thrives on the discretionary spending and driving habits of car owners/consumers.
  • Significant mobile car wash brands in the United States include Mister Car Wash, Autobell Car Wash, Wash depot, Goo Goo Express Wash, Boomerang car wash, Delta sonic, Crew Car Wash, The Washtub, Brown Bear Car Wash, Kaadey Car Wash, Waterway Gas & Wash Company, and Car Wash USA Express.
  • According to Techcrunch, Washé, a Boca Raton-based mobile-service car wash operator recently raised $3.5 million as seed funding to grow its business. Washé has a network of about 1,000 licensed as well as insured car wash professionals. The car wash operates in parts of Florida, Southern California, Georgia and New Jersey, and had performed over 100,000 car washes by 2018 in the South Florida market. Washé claimed to have witnessed a 125% annual growth rate.
  • While mobile car wash operators continue to grow, the overall number of car wash businesses in America has declined in recent years to a value of about 13, 177 forcing most operators to either expand or diversify available services.

(3) DEMAND FOR AUTO BEAUTY SHOPS

  • According to KTVN, Auto Beauty Shops will be among the fastest-growing segment in the car care industry and will continue to experience growth in the future.
  • Auto beauty shops are needed to repair cars involved in an accident. Services offered by auto beauty shops include Paintless Dent Repair (PDR), body repair and painting services, etc.
  • There will be a continuous demand for the services of auto beauty companies as an average of 6 million cars are involved in accidents every year in the United States. About 72% of car crashes result in property damage, including car dents.
  • According to CNN, data obtained from the National Highway Traffic Safety Administration reveals a 7.7% increase in fatal accident cases in 2015, increasing from 32,600 in 2014 to 35,200 in 2015. This increase is indicative of the rising number of accidents and car dents that may need auto beauty services.
  • Unfortunately, we could not uncover the growth rate or market growth for auto beauty shops.

(4) POPULAR USE OF WATER-BASED SOLVENTS AND ECO-FRIENDLY DETAILING IN CAR CARE

  • Eco-friendly detailing solutions remain the most significant innovation in the car detailing sector for the past ten years. Innovations in this field include "waterless washing products" which rose in popularity since the 1990s. While waterless washing products are still in use today, a majority of operators prefer the use of water.
  • There is a rising demand for water-based solvents due to the low cost of essential raw materials needed to manufacture them. Water-based products are biodegradable and also environmentally friendly.
  • Unfortunately, we could not uncover the growth rate or market growth for water-based solvents.

METHODOLOGY

Our team scoured through market reports, industry analysis published by Research and Markets, Auto Dub, AZ Big Media, etc. We studied for insights into the most prominent consumer trends that are impacting the car care market across the United States. Auto Dub and a plethora of other resources revealed that car detailing is getting more popular. AZ Big Media revealed that express (mobile) car wash units are rising in popularity and now out-number full-service by the ratio 2 to 1 across Phoenix. Researching Profitable Venture web for the growth rate of mobile (express) car wash services revealed that mobile car wash industry grew by 3.3% between 2017 and 2018. Unfortunately, this strategy could not uncover sufficient statistics to prove that car detailing is getting more popular across the United States.

Going further, we scoured through credible media reports such as KTVN for insights into trends in the car care products sector. This strategy revealed that auto beauty shops would be among the fastest-growing segments in the car care industry. Further research for the annual growth rate of auto beauty shops or products failed to uncover helpful finding. We also researched for an analysis of the market size and revenue of the car care industry broken down into percentages by sectors, including auto beauty services. Unfortunately, this information is not made available to the public as it is behind paywalls. An attempt to compile the revenue by adding up the revenue of various players in the car care industry for various players failed as most of the studied companies failed to publish their yearly revenues as they are not under any obligation to do so.

We also studied through business publications such as Profitable Venture, among other publications. We studied for statistics and economic analysis of the car wash industry such as thriving sectors, most creative sectors, etc. This strategy revealed an anticipated revenue growth from 2017 by 3.3% to $7.7 billion in 2018. We assumed this to be proof of the growing mobile car wash market. Unfortunately, we could not uncover the growth rate or market growth for auto beauty shops. We could not also uncover the growth rate or market growth for water-based solvents despite expanding our scope to look into articles beyond our usual 24-month credibility range.
Part
02
of six
Part
02

Car Care Market SWOT

Economic stability, increasing consumer spending, and high gross profit margins are examples of strengths in the car care market. Weaknesses the sector faces include high competition, high operating expenses, low barriers to entry, and high labor turnover. Elaborated in the next section are full-details regarding the strengths, weaknesses, opportunities, and threats the U.S. car care market faces, including hard data as available.

S.W.O.T. ANALYSIS OF U.S. CAR CARE MARKET

STRENGTHS

  • Economic stability. The car care market is not significantly affected by economic recessions and can remain profitable since they generate above-average high gross margins from their services.
  • Consumer spending habits and increasing new car sales continue to drive the U.S. car care market. Research findings indicate that through 2018, motor vehicle registrations numbers are set to continue climbing at 1.3% annually, which would likely result in increased consumer demand for after-market services such as car care.
  • The startup costs of launching a car care center are low and range from $20,000 to $250,000 depending on whether the facility will use automated equipment, making it a venture that anyone with that amount can establish.
  • Companies providing car care and detailing services produce insanely higher gross margins compared to self-service car washes.
  • The car care business has substantial access to capital since the major obstacle to setting up the business is real estate, which most financial institutions are willing to offer the necessary capital to start these investments.

WEAKNESSES

OPPORTUNITIES

  • As consumers' disposable income rises, so does the demand for car wash and detailing services. Further, technological advancements have enabled car owners to seek long-lasting and proper car washes resulting in rising demand for high-end retailing services.
  • The continued rising disposable income of U.S. consumers is projected to continue fueling the demand for car care services into the future. The continued rise in incomes for discretionary spending promises a potential opportunity for the car care market to continue growing and expanding into the future.
  • Car care businesses have great expansion opportunities, which include expanding their menu offering at minimal incremental costs. For instance, these businesses can easily expand to new locations to create more opportunities for maximizing earnings. Also, car care centers can expand their businesses by acquiring existing similar businesses.
  • Financial institutions require a 20% down payment to establish a car care center. These types of businesses remain lucrative for one thing, their resilience during recessions and high-profit margins. Studies suggest that the industry has gross margins of 90% with profit margins declining to 40% year-over-year.
  • The current car care market as is lacks car washes with significant market shares. The sector is highly fragmented providing lucrative opportunities for small business owners in this segment to grow their locations and acquire a sizable market share.

THREATS

RESEARCH STRATEGY

To perform a S.W.O.T. analysis of the car care market in the U.S., we began by searching through industry reports, which feature a section dedicated to S.W.O.T. analysis. In this regard, we found numerous market reports published by leading vendors such as MarketWatch, Market Research News, and Business Wire, along with business reports and case studies of the U.S. car care market. These resources featured several excerpts to inform the S.W.O.T. analysis of the sector despite most of the reports staying hidden behind paywalls. Further, we explored individual reports by business websites such as the Finance Resource and Biz Funding Resource, which featured comprehensive S.W.O.T. analyses of the car care market. Therefore, various pieces of information were uncovered from industry reports, business reports, and business resource websites to help create a detailed S.W.O.T. analysis of the U.S. car care market.
Part
03
of six
Part
03

Car Care Market Segmentation

The car care market is segmented into two main product types: cleaning products and repair & protection products. The protection products sub-segment is further divided into polishing and waxing, sealing glaze and coating, and other protection products sub-segment.

CAR CARE MARKET

  • According to market reports, the US car care market is segmented into two main product types: cleaning products and protection products.

Cleaning products

  • Cleaning products segment is the segment that dominates the car care product market and is expected to lead the market share until 2025.
  • The segment is mostly driven by interior cleaning, followed by hand wax services, exterior cleaning, shampoo floor mats and upholstery cleaning.
  • The growth of this segment is boosted by the fact it is dominated by multipurpose, user-friendly products that are offered at competitive price ranges.
  • The biggest new offering in this segment are water-based solvents which are seen to lead the market globally until 2025. Water-based solvents are biodegradable and environmentally friendly which shows an improvement when compared with traditional chemical-heavy products that used to dominate the cleaning car care market segment.
  • The cleaning products segment is the largest segment of the car care market with a market share of approximately 69.55%.

Repair & Protection products

  • According to market reports, repair & protection products compose the next largest share of the car care market at an estimated 24% share.
  • The protection products car care segment is further divided into polishing and waxing, sealing glaze and coating, and other protection products sub-segment.
  • This segment is projected to also be on the rise until 2025 based on the fact that consumers in the car care segment have recently become aware of the advantages of using car care products when it comes to protecting the car against outdoor influences such as the sun, snow, and other harmful factors.

RESEARCH METHODOLOGY

Market reports that are readily available on the topic of car care market are all focused on the global car care market. However, in each report we were able to identify, the market reports clearly state that the segmentation by product and solvent type, which are the two main segments the car care market has been targeted with, are applicable across all markets including North America (primarily the US market), Europe, and Asia Pacific. This is based on the fact that the second-biggest market for car care products is the US, after Europe, and many of the key players in the global market are US-based companies, including 3M, Illinois Tool Works, Simoniz USA, Turtle Wax, Northern Labs, Armored Group, and Automagic. Therefore, the findings on the global level regarding the car care market are applicable to the US market as well.


Part
04
of six
Part
04

Category Size and Growth

An exhaustive search in the public domain shows that information on the category size and growth rate for the overall United States car care market is non-existent and media coverage on the specified topic is scarce. The most relevant media mention is: This year, 2019, the global market size of car care products is $85,100 million and is growing at a CAGR of 5.5% till 2024.

CAR CARE: PRODUCTS

  • According to Market Watch, this year, 2019, the global market size of car care products is $85,100 million. The market is expected to grow at a CAGR of 5.5%, hence, by the year 2024, the market is expected to hit $117,300 million.
  • This market for car care products was segmented into regions. Those regions are Europe, North America, Asia, and among other regions.
  • In 2016, Europe was the major supplier of car care products holding 38.05% share of the total global market, while North America held 32.33% of the total global market.
  • For the past years, there has been a higher demand for car care products in Asian countries, especially China.
  • Based on type, the cleaning products held the largest segment of the total market in 2016 with around 69.55%, while repair and protection products accounted for about 14.35% and 9.66%, respectively, of the total market share, however, these two products were more expensive.

CAR CARE: REPAIRS AND MAINTAINANCE

  • In the United States, the average cost for car light repairs is $387.
  • According to the Center for Economic Vitality report, the transmission automotive repair industry holds 6% of the total automotive repair industry.
  • In 2017, the estimate of the global car repair industry market was $444.3 billion. The market is expected to grow at a CAGR of 5.6% over the next 10 years.
  • There were 160,000 establishments in the United States in 2017 dealing with automotive repair and maintenance services and their combined annual revenue was worth $105 billion.
  • According to IBIS World, the annual sales of the auto repair industry in the US are worth $63 billion.
  • In the North American automotive repair industry, the US holds the largest share of the total market, 60%.

CAR CARE: CAR WASH AND AUTO DETAILING

  • In 2019, the car wash & auto detailing market size in the US is worth $11.8 billion.
  • This year, the CAGR of the market is 2.1%, but it was expected to grow at a rate of 3.7% from 2014 to 2019.

RESEARCH STRATEGY

During our search, we could not find the overall market size and growth rate of car care in the US. We used the following strategies trying to find this information.

We started our research by searching through various market research and survey reports to find the category size(s) and growth rate(s) in the US car care. Some sources we looked through include the Market Watch, Forbes, Auto Dub, The Medium, among others. Unfortunately, after a deep search on these sources, we could find that most of them only provide information on the global car care market size and growth and limited information on the North American or the United States car care market. With this strategy, we were hoping to find the relevant information on these sources because they conduct surveys and research on the overall automotive industry including car care services, however, we could not find any data pertaining to the US car care market. Additionally, we expanded our search to databases such as Statista, Decision Databases, IBIS World, among others. However, we could not still find the overall US car care market size and growth. The most relevant information we could find on the IBIS World website is the market size and growth of "car wash and detailing in the US", upon further research, we discovered that this also falls under the car care category. Therefore, we have provided this finding in the above section of the research.

Next, we broadened our search by checking the individual websites of the key/top players/companies in car care category in the United States. The leaders in this market include Shell, ExxonMobil, BP, and Chevron, as well as product-based companies such as 3M, Illinois Tool Works, and Turtle Wax. We went through each of the above company website hoping to find information on the car care market size and growth rate in the United States. With this strategy, we assumed we could find at least one company in this category that has compared its market size against the total US car care market size. Another plan was to find the market sizes (individually) of the above companies and use them to calculate the total car care market size in the US. However, most companies have not provided their market size, hence, this strategy could not work.

Finally, we tried a triangulation approach. We went through various sources trying to find data that can help us in triangulation. The sources we checked for data include Market Watch, Mordor Intelligence, Auto Dab, among others. Using this strategy, we could also note that the car care industry is broken down into categories such as products, maintenance & repair, car wash and detailing. On the Mordor Intelligence website, we could find the information on the car care (automotive) repair industry. The source states that the US automotive repair industry holds 60% of the total automotive repair market in North America. With this information, we tried searching for the North American automotive repair market size so that so we can calculate the share of the US automotive repair market from it, however, we could not find any data on the total market of North American automotive repair industry in the public domain. The only information provided/available is the global market of the automotive repair industry. Since the global automotive repair market size is available, we tried to find what percentage does the US automotive repair market hold in the global automotive repair market. Unfortunately, we could not find any percentage to help in triangulation. Additionally, we could not find the percent the US car care market hold in the global car care market. This made the triangulation approach impossible.
Part
05
of six
Part
05

Car Care Industry Leaders

The US leaders in the car care market are Illinois Tool Works, 3M, Simoniz USA, Turtle Wax, and Northern Labs.

Overview

  • The car care industry refers to the chemical products designed to gloss, increase the durability of cars, and improve and protect the shine of vehicles.
  • These products include the ones designed for paint restoration, paint protection, paint cleaning, glass cleaner, wheel care, interior and exterior care, tyre shine, etc.
  • The car care companies leading the global market are 3M, Turtle Wax, Illinois Tool Works, Armored AutoGroup, SOFT99, SONAX, Tetrosyl, Northern Labs, Liquid Moly, Simoniz, Autoglym, Botny, Bullsone, BiaoBang, CHIEF, Rainbow, Mothers, and Auto Magic.
  • Research confirms that 25% of the car care market in the world is dominated by the US, followed by North America and Asia.
  • The US companies who are leading the market are Illinois Tool Works, 3M, Simoniz USA, Northern Labs, Turtle Wax, Automagic, and Armored Group.
  • The global market has a current value of $11.8 billion.
  • Markets and Markets determined that the US leaders in the market are 3M, Illinois Tool works, Simoniz USA, Turtle Wax, Northern Labs, Armored Group, and Automagic.
  • Also, the leaders of car wax, one of the most used car care products in the US market are Turtle Wax, 3M, Northern Labs, Henkel, SONAX, Malco Products, Mother, Bullsone, Prestone, Darent Wax, Biaobang, Chief , Tetrosyl (CarPlan), and SOFT99.

US Car Care Leaders

1. Illinois Tool works

  • Their Polymers and Fluids division include the automotive aftermarket niche which is composed by car care and tyre repair products.
  • In 2018, their Polymer and Fluids division reached a global revenue of $1,724 million.
  • 50% of the company's revenue come from consumers out of the US while the other half from US customers.
  • The US generated $6,562 million in revenue from all the company's divisions.

2. 3M

  • 3M is the global leader of car care and is going to invest $60 million to increase its manufacturing capacity in Greenville.
  • Their industrial segment includes the automotive aftermarket niche.
  • Their global revenue for the industrial segment was $3.0 billion in Q4 2018.

3. Simoniz USA

4. Turtle Wax

5. Northern Labs

RESEARCH STRATEGY

Identifying the Car Care Leaders — US

To determine the US leaders in the car care market, we began by searching for precompiled industry lists of the leaders in the country. We searched industry reports such as Markets and Markets, Research Markets, Rise Media, Forbes, etc.

While this search provided global reports concerning the industry, we were unable to locate a report that represented only the US car care market. However, the report contained the global leaders. We were able to determine the leaders based on repetition across different credible sources.

After we determined the global leaders, we identified which of these leaders were from the US. 3M, Illinois Tool works, Simoniz USA, Turtle Wax, Northern Labs, Automagic, and Armored Group were the companies that appeared in several esteemed sources. We also discovered that the car care products for paint protection, paint cleaning, glass cleaner, wheel care, interior and exterior care, tire shine, etc. often come in wax presentation. Also, we found that inside the US market, the leaders of local and international companies are Turtle Wax, 3M, Northern Labs, Henkel, SONAX, Malco Products , Mother, Bullsone, Prestone, Darent Wax, Biaobang, Simoniz, Chief, Tetrosyl (CarPlan), and SOFT99.

With these, we were able to find five US companies leading the car care market — 3M, Illinois Tool works, Simoniz USA, Turtle Wax, and Northern Labs.

Market Share — US Car Care Industry

To determine the market share of the identified companies, we began by examining reports and financial magazines to find the US market size of the car care industry. However, this search brought no results regarding the US market, only the global.

During this search we were able to identify that 25% of the global market share belongs to the US. We also found that the global market size of the car care industry is $11.8 billion.

With these data points, we were able to calculate the US market size by multiplying $11.8 billion or $11,800,000,000 x 25% = $2,950,000,000 or $2.95 billion.

Market Share of the Leaders — US

After we identified the leaders and calculated the market size of the car care industry in the US, we began our search to identify the market share of the US leaders by looking into the annual reports of 3M, Illinois Tool Works, Simoniz USA, Turtle Wax, and Northern Labs, their company websites and news, and financial sources like Forbes, Crunchbase, D&B, Bloomberg, Zoominfo, among others. However, we were unable to find their market share.

As our next step, we tried to triangulate the market share of the companies using their revenue generated in the US through car care products and calculate it with the US market size to get their share. However, three of the leaders — Simoniz USA, Turtle Wax, and Northern Labs are privately held companies and don't release public financial statements detailing their results per segment, region or product. Their global revenue was included in our findings. Hence, we were unable to calculate the US revenue or share of these three companies.

For 3M and Illinois Tool Works, their annual reports only presented car care products combined with other products inside their Automotive Aftermarket segments and did not present percentages or differentiation to calculate the revenue of their car care segment. Also, they did not present enough data points to calculate it for the US market and often combined the entire revenue of North America in a global result. Due to these reasons, we were unable to triangulate or calculate the US market share of the three leaders.

As our final step, we included industry reports from Markets and Markets, ResearchandMarkets, Rise Media, and iCrowdNewswire. These reports are paywalled but contains the US and global market share of the leaders in the car care industry.
Part
06
of six
Part
06

Car Care Market - Retail Distribution

The service centers distribution segment accounts for $2.596 billion while the retail stores distribution segment accounts for $0.354 billion of the car care segment in the US.

CAR CARE MARKET RETAIL DISTRIBUTION

  • In 2018, the global car care products market was valued at $11.8 billion.
  • The US accounts for 25% of the global car care products market. In case the graph is not visible within the report, we compiled a screenshot of the graph detailing the market segmentation by region in the document here.
  • Based on the retail distribution channel, the market is divided into two main segments: Do-It-For-Me (DIFM) or better known as service centers, and Do-It-Yourself (DIY) products available at retail stores.
  • DIY product segment available at retail spaces accounts for 12% of the global car care products market while DIFM better known as service centers segment accounts for 88%.

RESEARCH METHODOLOGY

Market reports that are readily available on the topic of car care market are all focused on the global car care market. However, in each report we were able to identify, the market reports clearly state that the segmentation by retail channel is applicable across all markets including North America (primarily the US market), Europe, and Asia Pacific. This is based on the fact that many of the key players in the global market are US-based companies, including 3M, Illinois Tool Works, Simoniz USA, Turtle Wax, Northern Labs, Armored Group, and Automagic. Therefore, the findings on the global level regarding the car care market are applicable to the US market as well.

Market reports are mainly available online as a short summary whilst the rest of the report is hidden behind a paywall. Therefore, only limited information is available for the US segment as well as the retail distribution channel segments. The limited information available did not provide the data required in this research directly but allowed us to triangulate the required number as follows:
  • The US accounts for 25% of the global car care products market which was valued at $11.8 billion in 2018. Therefore, the US accounts for 0.25 x $11.8 billion = $2.95 billion.
  • As the US market segment of the overall car care products market accounts for $2.95 billion, the breakdown of the retail distribution can be calculated as follows: 0.88 (service centers share) x $2.95 (US market size) = $2.596 billion; 0.12 (retail stores share) x $2.95 (US market size) = $0.354 billion.
  • The service centers share distribution segment accounts for $2.596 billion while the retail stores share distribution segment accounts for $0.354 billion of the car care segment in the US.


Sources
Sources

From Part 01
Quotes
  • "Why Car Detailing is Getting More Popular Car detailing used to be a car care service done for auto dealers. It’s necessary to get used cars ready for resale. It used to be a sneaky operation with little to no professionalism in terms of the facility, people, and technology used. Its sole purpose what to sell cars and the auto dealer preferred the cheapest price and fastest turnaround."
  • "The car detailing industry has seen remarkable growth in the past few years and it’s projected to grow even more in the future. There are many reasons for its increasing popularity. The most significant are:"
  • "Demand for Vehicles Americans held on to their old vehicles since the 2008 economic recession. Upon the improvement of consumer confidence in the economy, new vehicle sales rose to a staggering rate. This is mainly due to the many years of suppressed demand for vehicles. Light vehicle registration amounted to 17 million in 2016, which is 183,000 more than the previous year."
  • "As of January 2017, the number of vehicles on the streets of America was 278.6 million, 2.4% more than the previous year. The number of car units should reach 284 million by 2020. CNBC suggests that this increasing demand for cars will continue at least until 2035. This trend in the demand for cars in America bodes well for the auto detailing industry"
  • "Eco-friendly detailing is one of the most significant innovation the car detailing industry in the past ten years. This includes waterless washing products which became popular in the 1990s. While it’s still being used today, most operators still prefer the use of water. They, however, follow environmental regulations that are focused on water conservation. Other environmental benefits of professional car detailing include the use of allergy-free chemicals and natural cleaning products. Using vapor steamers, bacteria and hard stains are eliminated."
Quotes
  • "Express car wash units currently out-number full-service by a 2 to 1 ratio in Phoenix. Many full service operators are combating the change by adding express lanes to their offerings to stay competitive. Many operators offer additional amenities which are also added conveniences for their customers and include pet wash areas, quick lube/oil changes, convenience stores, vending machines, car detailing and gas. Improving the customer experience drives the evolution of retail, and these changes do just that. "
  • " These factors combined with the demands from customers who want more and more value have brought about the shift in the industry that is creating a proliferation of express car wash locations. These express models require very little labor and the technology of these units has improved to the point that the full-service, hand-wash, hand-dry operators are feeling the pressure and many of the older self-service bay units are being washed out. "
Quotes
  • "The car care products market is dominated by a few global players. The key players in the market are 3M (USA), Illinois Tool Works (USA), Autoglym (UK), Sonax (Germany), Wrth Group (Germany), Soft99 Corporation (Japan), Tetrosyl (UK), Simoniz USA (USA), Turtle Wax (USA), Liqui Moly (Germany), Northern Labs (USA), Armored Group (USA), Automagic (USA), Bullsone (South Korea), Jopasu Systems India Pvt Ltd (India) and Guangzhou Biabong Car Care Industries Co. Ltd (China)."
  • "The growth of the car care products market is into a rising phase due to the technological advancements in car washing techniques. The increasing disposable income in major country markets enables consumers to afford these technologies and products. Partnerships between car care product manufacturers and company-authorized service centers will provide users with efficient end-to-end solutions. Consumers have become aware of the advantages of car care products in protecting the car against the sun, snow, and other harmful factors."
  • "Auto Beauty Shops are expected to be the fastest-growing segment and will continue to grow in the future Advancements in the technology and ever-increasing demand for efficient car cleaning products has resulted in the growth of auto beauty shops. The growth has been observed in automated car wash machines like gantry, conveyer tunnel car wash, etc., which will wash the cars within a few minutes."
  • "Water-based solvents are expected to lead the market globally There has been a bigger push for water-based solvents because of the low cost of raw materials required for manufacturing these products. These products are biodegradable and environmentally friendly. In Europe, there has been laws and regulations regarding preserving water and less use of hazardous chemicals in the manufacturing of car care products. Water-based solvents address these issues efficiently."
  • "Cleaning and Caring Products is expected to be the fastest-growing segment and will continue to grow until 2027 The segment is mainly driven by the demand for exterior cleaning and interior cleaning, including upholstery cleaning, floor mats cleaning, etc. Innovative product ranges with new types of chemical compositions and solvents are being introduced by companies to cater to the demands of the consumers. The growth of this segment is mainly driven by the multipurpose, user-friendly products that it offers at competitive price ranges."
From Part 04
Quotes
  • "According to this study, over the next five years the Car Care Products market will register a 5.5% CAGR in terms of revenue, the global market size will reach US$ 117300 million by 2024, from US$ 85100 million in 2019."
Quotes
  • "Statistically, the global car repair market is estimated to worth US $444.3 billion by the end of 2017 and has a compound annual growth rate of 5.6% over the coming decade. It has approximately 16,000 establishments across the United States. In accordance to the research report by IBISWorld’s “Auto Mechanics in the US” market research report, the auto repair industry has an annual sale of $63 billion dollars."
Quotes
  • "The North American automotive service market is being dominated by the United States occupying a share of more than 60% in 2017, primarily due to continuous rise in the number of vehicles on road, along with the presence of major automotive service players in the country."
From Part 06