US Car Wash Market to Reach $17.34 Billion by 2027 at a CAGR of 2.9%
Saturday, December 3, 2022
DUBLIN, Dec. 2, 2022 /PRNewswire/ -- The "The US Car Wash Market: Analysis By Type, By Vehicle Type, By Size of Operations Size and Trends with Impact of COVID-19 and Forecast up to 2027" report has been added to ResearchAndMarkets.com's offering.
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The US car wash market in 2021 was valued at US$14.59 billion. The value of the market is expected to reach US$17.34 billion by 2027. A car wash is a facility used to clean the exterior and, in some cases, the interior of motor vehicles. Car washes can be self-serve, fully automated, or full-service with attendants who wash the vehicle.
Caring for and maintaining the car is the most important factor in ensuring that it enjoys a long and healthy life. The secular move away from do-it-yourself toward more effective do-it-for-me services, as well as increased awareness of safeguarding and prolonging the life of the vehicle in light of a competitive new car market and hyperinflationary old car prices, are all expected to boost the market. The market is anticipated to grow at a CAGR of approx. 2.9% during the forecasted period of 2022-2027.
Market Segmentation Analysis:
-- By Type: The report provides the bifurcation of the market into three
segments based on the type: In-bay Automatic/Rollover, Conveyor, and
Self-Services. The in-bay automatic/rollover held the highest share in
the market, owing to the benefits such as low maintenance, fewer damage
claims than tunnel washes, availability of touch-free washes, etc.
-- By Vehicle Type: The report further provided the segmentation based on
the following vehicle type: SUV, Sedan, Hatchbacks, and Others. SUV is
expected to grow at the highest CAGR in the forthcoming years. SUV is
gaining immense popularity among consumers due to the features such as
compact size, stylish design, and automatic safety features. Moreover,
profitable prospects for market participants are expanded throughout the
projection period by the electrification of SUVs.
-- By Size of Operation: Based on the size of operations, the US car wash
market can be divided into two segments namely, Less Than 5 sites, and 5
or More Sites. Most of the US carwash market players operate less than 5
sites as the majority of car wash locations in the US are owned and
operated by small to medium-sized independent car wash companies.
Market Dynamics:
-- Growth Drivers: The US car wash market has been growing over the past
few years, due to factors such as a secular shift toward do-it-for-me
offerings, growing base of vehicle registrations and consumer carwash
spending, growing membership search activity, rising spending power,
increasing vehicle's average life, low gasoline prices, and many other
factors. Speed and convenience are the two major benefits car washing
businesses offer and as a result, there has been a vast decline in the
percentage of US consumers washing their cars at home. Additionally, due
to their hectic schedules, individuals no longer have the time to wash
their cars and instead choose to employ professional car washes.
-- Challenges: However, the market has been confronted with some challenges
specifically, high initial investment and maintenance costs, seasonal in
nature, etc.
-- Trends: The market is projected to grow at a fast pace during the
forecast period, due to various latest trends such as increasing
automation, increasing use of sonar technology, emerging car wash market
for self-driving cars, increasing environmental concerns, growing
adoption of mobile apps and online booking, etc. Improvements in
automation and technology have had a major impact on recent industry
growth. This includes the use of radio-frequency identification (RFID)
chips and license plate readers that allow car wash operators to
automatically recognize monthly membership holders when they approach
the site. Automating this process has helped significantly speed up the
wash process and lower labor requirements.
Key Players
-- Driven Brands Holdings Inc. (Driven Brands, Inc.)
-- Mister Car Wash, Inc.
-- Zips Car Wash LLC
-- Quick Quack Car Wash
-- Tommy's Express Car Wash
-- Tidal Wave Auto Spa
-- GO Car Wash
-- Autobell Car Wash
-- Cobblestone Auto Spa Car Wash
-- Mammoth Holdings LLC
-- WhiteWater Express Car Wash
-- True Blue Car Wash, LLC
-- Club Car Wash
-- Express Wash Concepts
-- Golden Nozzle Car Wash
Key Topics Covered:
1. Executive Summary
2. Introduction
3. The US Market Analysis
4. Impact of COVID-19
5. Market Dynamics
6. Competitive Landscape
7. Company Profiles
Companies Mentioned
-- Driven Brands Holdings Inc. (Driven Brands, Inc.)
-- Mister Car Wash, Inc.
-- Zips Car Wash LLC
-- Quick Quack Car Wash
-- Tommy's Express Car Wash
-- Tidal Wave Auto Spa
-- GO Car Wash
-- Autobell Car Wash
-- Cobblestone Auto Spa Car Wash
-- Mammoth Holdings LLC
-- WhiteWater Express Car Wash
-- True Blue Car Wash, LLC
-- Club Car Wash
-- Express Wash Concepts
-- Golden Nozzle Car Wash
For more information about this report visit https://www.researchandmarkets.com/r/f8c31e
Media Contact:
Laura Wood, Senior Manager
press@researchandmarkets.com
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