Product Code: RP-ID-10324713 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Automotive & Transportation |
Report ID: 10324713
Market Overview:
Global Car Care Products Market Size study with COVID-19 impact, by Products (Cleaning product and Protection product), by Application (Auto Beauty Shop and Individual Consumers), by Vehicle Type (Passenger cars and Light commercial vehicles (LCV)) and Regional Forecasts 2020-2027
Global Car Care Products Market is valued approximately USD 11.80 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.00% over the forecast period 2020-2027. Car care products are high performing chemicals that are used for enhancing the aesthetic appearance of the cars along with improving the longevity of the vehicles. Also, the car care products not only improve the shine and gloss of automobiles but also retain or protect the visual appeal or aesthetic value of the cars. The outbreak of COVID-19 across the globe impacts in slow down of various economies and manufacturing of passenger and commercial vehicles that is hampering the growth of Car Care Products. The commendable application of car care products in cleaning, polishing, coating, and maintaining standardized appearance of car coupled with growing demand for commercial and passenger vehicle across the globe is driving the growth of market over the forecast years. For instance: according to the International Organization of Motor Vehicle Manufacturer (OICA), the production of passenger cars accounted for around 73.45 million units in the year 2017 as compared to 72.10d million units in the year 2016 on the global scenario. Similarly, the production of commercial vehicles accounted for around 23.84 million units in the year 2017 as compared to 22.87 million units in the year 2016 which included both lightweight commercial vehicles and heavy trucks & buses. Moreover, growing customer awareness pertaining to the maintenance of vehicles and breakthroughs in the car washing technology is expected to accelerate the growth of market over the forthcoming period. However, high cost of such products is the factor hindering the growth of car care products market over the upcoming period.
The regional analysis of global Car Care Products market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing sale of premium cars in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such growing customer awareness pertaining to the maintenance of vehicles and breakthroughs in the car washing technology would create lucrative growth prospects for the Car Care Products market across Asia-Pacific region.
Major market player included in this report are:
3M
Turtle Wax
Sonax
Soft99 Corporation
Tetrosyl
Liqui Moly
Simoniz USA
Autoglym
Northern Labs
llinois Tool Works
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Technology offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Products:
Cleaning product
Protection product
By Application:
Auto Beauty Shop
Individual Consumers
By Vehicle Type:
Passenger cars
Light commercial vehicles (LCV)
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Car Care Products Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
3M
Turtle Wax
Sonax
Soft99 Corporation
Tetrosyl
Liqui Moly
Simoniz USA
Autoglym
Northern Labs
llinois Tool Works
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Proof of Quality & Reliability
