LONDON--(BUSINESS WIRE)-- Technavio analysts forecast the global vehicle wash system market to grow at a CAGR of over 3% during the forecast period, according to their latest market research report.

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Technavio has published a new market research report on the global vehicle wash system market for the period 2019-2023. (Graphic: Business Wire)

Increased adoption in untapped regions is one of the major trends being witnessed in the global vehicle wash system market 2019-2023. In developed countries such as the US, the UK, and Canada, vehicle wash system is widely used. These countries have several automatic vehicles wash centers at various locations for easy access. In developing countries such as India and China, vehicle wash technologies are not common due to the lack of vendors and service providers in the region. Such regions can be targeted for further growth of the market.

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According to Technavio analysts, one of the key factors contributing to the growth of the global vehicle wash system market is the need for water-efficient products:

Global vehicle wash system market: Need for water-efficient products

Traditional car washing centers use a sponge and large volumes of water for thorough cleaning. In order to combat water scarcity, governments are regulating water usage. Vehicle wash systems use less water compared to traditional wash techniques.

According to a senior analyst at Technavio for research on auto accessories, “To ensure efficient use of water, vehicle wash systems use targeted applicator systems. Water is pumped at high pressure from these systems and is mixed with cleaning solutions such as body soap, presoak, sealant, and a spot-free rinse aid. The mixture is made with correct proportions which ensure less water usage when compared to other cleaning methods. Small rinse arches with low distance from the vehicle and high pressure efficiently use water for cleaning. This method cuts down the quantity of water used by half when compared to traditional cleaning methods.”

Global vehicle wash system market: Segmentation analysis

The global vehicle wash system market research report provides market segmentation by end-user (PC, CV, and two-wheelers), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The PC segment held the largest market share in 2018, accounting for nearly 72% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.

The Americas led the market in 2018 and the region is expected to maintain its dominance of the market through 2023.

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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 Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Technavio

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