Report on market size of carwash industry released - Professional Carwashing & Detailing

Report on market size of carwash industry released

SAN FRANCISCO — The carwash services market size will be worth $41.1 billion by 2025 with a CAGR of 3.2%.

SAN FRANCISCO — The global carwash service market size is expected to reach USD 41.1 billion by 2025, according to a new report by Grand View Research Inc., registering a 3.2% CAGR over the forecast period, as stated in a press release.

Key suggestions from the report include the following, the release noted:

  • The self service segment accounted for the second-largest market share in 2018 and will also register steady growth over the forecast period. Flexibility on usage of cleaning supplies and payment only for the amenities used are some of the factors driving the popularity of this service.
  • The rollover/in-bay segment held the largest revenue share in the market in 2018 thanks to low operating cost and less space required for installation. The segment is anticipated to retain its lead through 2025.
  • North America is the largest and most mature market for carwashing solutions, with the U.S. accounting for more than 43% of the global revenue in 2018. More than 2 billion cars are washed in the region each year.
  • Some of the key players operating in the global carwash services market are Mister Car Wash, Zips Car Wash, International Car Wash Group (ICWG), Autobell Car Wash, Quick Quack Car Wash, Super Star Car Wash, True Blue Car Wash, Magic Hand Car Wash, Hoffman Car Wash and Wash Depot Holdings Inc.

You can learn more about the report “Car Wash Service Market Size, Share & Trends Analysis Report By Type (Tunnels, Roll-over/In-Bay, Self-Service), By Region (North America, APAC, Europe, CSA, MEA), And Segment Forecasts, 2019 – 2025” at https://www.grandviewresearch.com/industry-analysis/car-wash-service-market.

As per International Carwash Association (ICA), there has been a steady decline in home vehicle washes in the past 18 years, the release noted.

In 1996, 47.6% consumers preferred washing their vehicles at home whereas in 2014, only 28.4% consumers opted for the same, the release stated.

This significant shift is owing to benefits such as speed, convenience and efficiency offered by professional carwash operators, the release added.

Growing consumer discretionary spending in certain countries is also expected to support market growth, and increasing awareness regarding wastage of water by washing vehicles at home is giving the market a major boost, the release noted.

However, strict government regulations regarding water usage in professional vehicle washing services act as a restraint for market growth, the release continued.

For instance, in California, carwash services are required to reuse 50% of the water used during a carwash, the release added.

To adhere to this requirement, operators are compelled to use zero-degree nozzles, which results in added cost of investment and lower profit margins, the release stated; nevertheless, some operators see this as an opportunity to go green and are turning to waterless cleaning practices.

The markets in Middle East and Africa is estimated to witness steady growth over the forecast period owing to an increasing number of cars and improving economic conditions in numerous countries in the region, the release noted.

With a ban on washing vehicles in public spaces in several countries in the region, there is more scope for professional carwashes, and scarcity of water in the region has also compelled operators to introduce innovative eco-efficient carwash techniques, the release concluded.

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