The automotive beauty market is projected to expand at a high CAGR during the forecast period. The growth of the market is attributed to the increase in sale of new vehicles, rise in consumer awareness regarding vehicle maintenance, advancements in car wash technology, growth in vehicle production, and rise in the disposable income of consumers.
Request Free Sample Report Here
Automotive beauty refers to the technology and beauty care products used for an automotive to maintain it. Products used in the automotive beauty market offers the utmost care to every part of the vehicle. For instance, exterior surface cleaners assist to get rid of road grime, dirt, and dust. Moreover, specialized cleaners are utilized for removing tar and grease. Automotive beauty improves the aesthetic quality of cars, prevents unwanted accidents, and improves vehicle longevity, which in turn, boosts its resale value.
Market Trends, Drivers, Restraints, and Opportunities:
Increase in vehicle production and rise in the sale of premium vehicles are expected to boost the global automotive beauty market during the forecast period. Growth in standard of living and purchasing power of consumers is projected to drive the market. Automotive beauty treatments and products protect vehicles from the environment and improve the original quality and longevity of the vehicles, which in turn, improves their resale value. Automobile aging and diminishing trend towards vehicle replacement is projected to boost the market growth during the forecast period. High costs associated with automotive beauty products restrain the market growth. People in developing and underdeveloped countries are less expected to invest in automotive beauty products due to the lack of purchasing power and awareness, which in turn, is expected to impede the market. Over use of beautification products and treatments can harm the exterior of the vehicle. Moreover, pressure washers on the exteriors can cause dents. These factors are projected to have a hamper the automotive beauty market. Chemicals utilized in automotive beauty products are hazardous to the nature. Hence, governments have implemented policies, thus reducing the demand and supply of automotive beauty products. Bio-based automotive beauty products, such as soaps and detergents, are the recent trend that has shaped the manufacturers product development procedures. Their inexpensive price and ease of use are expected to create opportunities in the market during the forecast period. Rapid growth of the automotive industry in the developing countries is expected to offer numerous opportunities for the market players to develop their product portfolios and reach during the forecast period.
Automotive Beauty Market Segment Insights:
Based on types, the automotive beauty market can be divided into cleaning and caring, polishing and waxing, sealing glaze and coating, interior maintenance, and others. The cleaning and caring segment is projected to dominate the market during the forecast period owing to the increasing demand for waterless dry car wash, rising environmental concerns, and the ease of accessibility the products offer. The interior maintenance segment is projected to grow at a substantial pace during the forecast period owing to increasing demand for maintaining the interior of the vehicles. Polishing and waxing products remove residue, grime, and dirt, while providing a smooth texture to the interior materials.
In terms of applications, the market can be segregated into 4S stores, auto beauty shops, personal use, and others. The 4S store segment is projected to dominate the global automotive beauty market during the forecast period. 4S stands for service, sales, spare parts, and surveys. A 4S store is a one stop shop solution for automotive beauty of vehicles.
On the basis of regions, the global automotive beauty market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the global automotive market during the forecast period owing to the presence of leading vehicle manufacturers and resource availability and skilled workforce in the region. Additionally, increase in per capita income and rise in the demand for automotive beauty products owing to rise in premium car sales is expected to drive the market in Asia Pacific.
About Growth Market Reports:
GROWTH MARKET REPORTS provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GROWTH MARKET REPORTS has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys.
Contact:
Growth Market Reports
Phone: +1 909 414 1393
Email: [email protected]
Web: https://growthmarketreports.com
GEODIS today announced that it has appointed Jürgen Adler as the head of the automotive market, one of the strategic vertical markets in which GEODIS is seeking to expand.Jürgen Adler, age 43, is a German national and holds a degree in Transport and Logistics from the University of Bonn.
He has more than 25 years experience in the logistics and transport sector of the automotive industry.Speaking several languages, he has worked on five continents, principally in Germany, France, China and the United States.His aim will be to address the specific expectations of the sector, which is currently facing significant structural changes as well as ongoing supply chain disruptions, in a sector where “just-in-time” is a standard.
Buy a used car in Worldwide or sell your 2nd hand car on volgopoint and reach our automotive market of 10+ million buyers in the worldwide.
