US Car Wash Market Report 2022: Growing Vehicle Registrations and Consumer Spending on Car Wash Boost Sector – Yahoo Finance | CarTailz

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DUBLIN, Nov. 23, 2022 (GLOBE NEWSWIRE) — 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 released been added ResearchAndMarkets.com Offer.

The US car wash market in 2021 was valued at $14.59 billion. The value of the market is expected to reach $17.34 billion by 2027. A car wash is a facility for cleaning the exterior and, in some cases, the interior of motor vehicles. Car washes can be self-service, fully automated, or full-service with attendants washing the vehicle.

Car care and maintenance is the most important factor for a long and healthy life. The secular trend away from do-it-yourself towards more effective do-it-for-me services, as well as the increased awareness of securing and extending the life of the vehicle in the face of a competitive new car market and hyperinflationary old car prices, are all expected to stimulate the market. The market is expected to grow at a CAGR of approximately 2.9% over the forecast period 2022-2027.

Market Segmentation Analysis:

  • By Type: The report shows the segmentation 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 market share due to the advantages like low maintenance, fewer damage claims than tunnel washes, availability of touchless washes, etc.

  • By Vehicle Type: The report also provided the segmentation based on the following vehicle type: SUV, sedan, hatchback and others. SUVs are expected to grow at the highest CAGR in the coming years. SUVs are popular with consumers due to features such as compact size, stylish design, and automatic safety features. In addition, the electrification of SUVs will expand profitable perspectives for market participants over the entire projection period.

  • By Facility Size: Based on facility size, the US car wash market can be segmented into two segments namely less than 5 locations and 5 or more locations. Most players in the US car wash market operate fewer than 5 locations as the majority of car wash facilities 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 grown in recent years, driven by factors such as a secular shift towards do-it-for-me offerings, a growing base of vehicle registrations and consumer spending on car washes, growing activity in recruiting members Purchasing power, longer average vehicle life, low gas prices and many other factors. Speed ​​and convenience are the top two benefits offered by car wash companies, and as a result, the percentage of US consumers washing their cars at home has plummeted. Additionally, due to their hectic schedules, individuals no longer have the time to wash their cars and opt for professional car washes instead.

  • Challenges: However, the market has faced some challenges, especially high initial investment and maintenance costs, seasonal nature, etc.

  • Trends: The market is expected to grow rapidly during the forecast period owing to various latest trends such as mobile apps and online booking etc. Improvements in automation and technology have had a major impact on the recent industry growth. These include the use of radio-frequency identification (RFID) chips and license plate readers, which allow car wash operators to automatically recognize monthly membership holders as they approach the location. Automating this process has helped significantly speed up the washing process and reduce labor.

key figures

  • Powered Brands Holdings Inc. (Powered Brands, Inc.)

  • Mr. Car Wash, Inc.

  • Zippers 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 washing concepts

  • Golden nozzle car wash

Main topics covered:

1. Summary

2. Introduction

3. The US Market Analysis

4. Effects of COVID-19

5. Market Dynamics

6. Competitive Landscape

7. Company Profiles

companies mentioned

  • Powered Brands Holdings Inc. (Powered Brands, Inc.)

  • Mr. Car Wash, Inc.

  • Zippers 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 washing concepts

  • Golden nozzle car wash

For more information about this report, visit https://www.researchandmarkets.com/r/xsaah9

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