LONDON--(BUSINESS WIRE)--The global vehicle wash system market is expected to post a CAGR of more than 3% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Growing water scarcity across the world is compelling governments to introduce various regulations to conserve water. This has increased the use of vehicle wash systems in car wash centers. Vehicle wash systems consume less water compared to traditional wash techniques. Water used in these systems is mixed with other solutions such as body soap, presoak, sealant, and spot-free rinse aid in correct proportions. This significantly reduces the use of water which can also be recycled. Therefore, the growing focus on water conservation will drive the adoption of vehicle wash systems during the forecast period.
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As per Technavio, the increased adoption in untapped regions will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Vehicle Wash System Market: Increased Adoption in Untapped Regions
The adoption of vehicle wash systems is gaining traction in developing countries such as China and India. The lack of vendors and service providers in such countries is providing significant growth opportunities for market vendors. In addition, various support initiatives by governments on water conservation projects are expected to drive the demand for vehicle wash systems in emerging markets.
“Adoption of environment-friendly vehicle wash systems and increasing competition by the proliferation of many regional, national, and international players will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Vehicle Wash System Market: Segmentation Analysis
This market report segments the global vehicle wash system market by end-user (PC, CV, and two-wheelers) and geography (Americas, APAC, and EMEA).
The Americas region led the market in 2018, followed by EMEA and APAC respectively. During the forecast period, the Americas region is expected to maintain its dominance over the market. This is due to the increasing demand for efficient, automatic car washing service centers in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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