Global Vehicle Wash System Market 2019-2023 | 3% CAGR Projection Through 2023 | Technavio
LONDON--(BUSINESS WIRE)--Jan 17, 2020--
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
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200117005299/en/
Technavio has announced its latest market research report titled global vehicle wash system market 2019-2023. (Graphic: Business Wire)
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.
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR30046
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.
Register for a free trial today and gain instant access to 17,000+ market research reports.
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:
Five Forces Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com:https://www.businesswire.com/news/home/20200117005299/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: AUTOMOTIVE GENERAL AUTOMOTIVE
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 01/17/2020 11:00 PM/DISC: 01/17/2020 11:00 PM