The U.S. Car Wash Equipment Market: Size, Trends and Forecasts (2016-2020)
Scope of the Report
The report titled “The U.S. Car Wash Equipment Market: Size, Trends and Forecasts (2016-2020)” provides an in-depth analysis of the U.S. car wash equipment market with detailed analysis of market size and growth pattern in the market. The report also provides market size of each segment of the market based on the car wash system type along with the detailed analysis of their segments based on the facility.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. The growth of the overall U.S. car wash equipment market has also been forecasted for the period 2016-2020, taking into consideration the growth patterns, the growth drivers and the current and future trends. The competition in the U.S. car wash equipment market is stiff and dominated by the big players like Wash Tec Group. Further, key players of the car wash equipment market, Coleman Hanna, Ryko Solutions and Sonny Enterprises are also profiled with their financial information and respective business strategies.
Wash Tec Group
Ryko Solutions, Inc.
Sonny’s Enterprises, Inc.
The U.S. car wash equipment market have increased at a significant annual growth rate in 2015 as compared to the preceding year 2014 and projections are made that the market would rise in the next five years, i.e. 2016-2020 tremendously. The upsurge in the market was largely attributable to the upsurge in the car wash service market. This is because of the sound growth in the United States motorized vehicle population, consumer focus on maintaining the value of the car along with the existence of the quite Do-It-For-Me (DIFM) revolution in the economy.
The major growth drivers for the U.S. car wash equipment market are: new car registrations, decline in home car washing and environmental regulations. There has been rise in the car on the road in the U.S. due to rise in disposable income of the consumers, decline in gasoline prices and low interest rates on loans. This has also led to decline in the home car washing market share. The consumers are now getting educated about the benefits of commercial car wash services such as better efficiency and higher safety. Also, increasing environmental consciousness among people is driving the commercial car wash services as professional car cleaning ensures optimal deployment of water resources and proper dumping of solid waste. Despite the market is governed by various growth drivers, there are certain challenges faced by the market, such as barrier to new entrants, cyclical nature of the business and the 2016 agreement. Some of the recent trends in the market include, technological advancements, eco-friendly equipments & systems and production capacity expansion of the equipment manufacturing companies.