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.
Looking for more research on this report? Request a sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
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.
Browse Related Reports:
- Automotive Industry in Bulgaria 2016-2020
- Global Automotive Launch Control System Market 2017-2021
- Automotive Industry in Serbia 2016-2020
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like automotive services, powertrain, and wheels and tires. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at email@example.com.