LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global automotive diecast scale model market to grow at a CAGR of more than 5% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global automotive diecast scale model market for 2017-2021. These automotive diecast models are marketed in a variety of scale ranges as collectibles. They are targeted to different audiences, ranging from collectors to amateurs. The report presents an analysis of the diecast scale models market based on vehicle type, scale range, age groups, gender and end-users, along with geography.
“With a share of close to 52%, the Americas accounted for the largest segment of the global market in 2016, followed by EMEA with around 31% and APAC with close to 17% of the market share. The dominance of the Americas is partly driven by the presence of large manufacturers like Mattel and GreenLight Collectibles, and partly by the large baby boomer collector population,” says Siddharth Jaiswal, a lead analyst at Technavio for automotive manufacturing research.
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Technavio automotive analysts highlight the following three market drivers that are contributing to the growth of the global automotive diecast scale model market:
- Expected high resale value of collectible diecast scale models
- Positive influence of collectors' clubs on sales of collectible diecast scale models
- Desire for owning exclusive car replicas to drive sales of diecast scale models
Expected high resale value of collectible diecast scale models
Diecast scale models, like normal collectors’ items, are sometimes unique or exclusive. Some scale models become even more exclusive among collectors due to a lack of supply, or unviable shipping. Other scale models become collectibles overnight, in the event of manufacturers scrapping entire product lines. For instance, BBurago's discontinuation of several non-European car models post its acquisition by May Cheong is an example of this, where these models became collectibles as soon as their availability declined.
Positive influence of collectors' clubs on sales of collectible diecast scale models
Collectors' clubs worldwide are actively engaged in the study of and proliferation of their respectable collectibles. Hence, they largely influence buddying diecast model enthusiasts. Furthermore, collectors' clubs also organize model display events and auctions where like-minded diecast enthusiasts can meet and exchange information, as well as strike business deals.
The successful establishment of collectors' clubs or their overseas/out-of-home chapters drive the increase of a dedicated consumer base for diecast scale models. This is because these clubs are very much instrumental in imbibing, as well as proliferating the act of collecting diecast scale models. This in turn, increases the possibility of higher sales, due to a collective rivalry and the institution of ownership competition.
Desire for owning exclusive car replicas to drive sales of diecast scale models
The very essence of being a collector represents a desire to own that which no one owns, or is so rare that revealing its existence to the world at large would mean instant fame for the collector. In a few cases, the desire of owning something so rare itself is a motivation for owning exclusive car replicas.
“Ownership of rare vintage cars, which are currently out of production, or the last pieces of lost collections, brings prestige and honorary memberships to exclusive collectors' clubs,” says Siddharth.
The desire of owning diecast collectibles is multiplied manifold by these add-on influences, adding to the growth of the market for diecast car models.
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