LONDON--(BUSINESS WIRE)--The automotive diecast scale model market is expected to grow by USD 1.04 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio.
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Collector clubs across the world are acting as mediums for influencing and sharing knowledge about diecast models for enthusiasts. Also, they are member-only access clubs and are exclusively maintained for collecting automotive diecast scale models. These clubs also organize several model display events and auctions where likeminded enthusiasts meet and strike business deals. The rising hobby of collecting automotive diecast models among consumers has increased the number of collector clubs, especially in Europe and the US. Successful establishment of such clubs is helping to increase the customer base for diecast scale models. These factors are influencing the growth of the global automotive diecast scale model market.
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As per Technavio, the increasing consolidation in the market through acquisitions will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Automotive Diecast Scale Model Market: Increasing Consolidation in the Market Through Acquisitions
Factors such as increasing demand for automotive diecast models and the need for expanding product portfolio has led many players in the market to shift their focus toward acquisitions. For instance, in July 2016, GreenLight Collectibles announced the acquisition of First Response Replicas, which manufactures 1:43 scale diecast police cars. Such acquisitions are reducing the competition in the market, which is positively impacting the growth of the global automotive diecast scale model market.
“Shift toward resin scale models and the use of additive manufacturing or 3D manufacturing will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Automotive Diecast Scale Model Market: Segmentation Analysis
This market research report segments the automotive diecast scale model market by end-user (collectors and non-collectors) and geographic (North America, Europe, APAC, MEA, and South America).
The North American region led the automotive diecast scale model market in 2019, followed by Europe, APAC, MEA, and South America respectively. During the forecast period, North America is expected to register the highest incremental growth due to the demand for exclusive automotive diecast models in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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