Car Washing Service Market: In-Depth Research Report 2020-2030

 

• Majority of consumers, presently, prefer to wash their vehicles by hiring professional car wash services rather than cleaning them at home, owing to time constraints and a busy work life. Car washing services clean not only the exterior but also the interior of the vehicle, which is rather hard to clean at home. These services enable easy washing and cleaning of the vehicles. Expansion of the car washing service market is attributed to an increase in focus of consumers on vehicle maintenance and rise in spending power.

Key Drivers of Car Washing Service Market

• Increase in environmental awareness coupled with stringent government regulations regarding usage and/or wastage of water among the population is driving the car wash services market. Car washing services ensure optimal use of water resources, recycling of used water, and proper dumping of solid waste through waste management systems ensure safety of the environment. This, in turn, saves water, reduces groundwater pollution, and also retains the car’s paint and finish.
• The trend toward car washing services is increasing significantly attributed to benefits offered by the services including fast and timely cleaning, convenience, and efficiency offered by professional car wash operators. Moreover, a rise in disposable income of the consumer in certain countries across the globe including Germany, the U.K., the U.S., China, Japan, and India is anticipated to boost the global car wash services market.
• For instance, according to a survey conducted by International Carwash Association (ICA), over the past decade, there has been a decline in home car washes. In the U.S., the percentage of drivers that report most frequently washing their vehicle at a professional car wash has increased from approximately 48% in 1994 to more than 77% in 2019.
• Dirt, grime, water droplets, and harsh chemicals that accumulate on a vehicle over time can cause the metal to corrode. These deposits are hard to remove by merely cleaning with water and sponge or brush. Household cleaning products may scratch the surface of the vehicle, which might further damage the exterior of the vehicle. This, in turn, prompts consumers to prefer professional car wash services.
• Advancements in terms of payments, such as digital payment options, and introduction of mobile apps, on-demand services, and subscription packages are propelling the car washing services market

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Car Washing Service Market: Restraint

• High cost of equipment, high investments required to establish a car washing center are anticipated to hinder the car washing services market. Owners of car washing service centers use chemicals and lubricants to clean vehicles and retain their smooth exterior. Periodic maintenance of car washing equipment and refilling of such chemicals are an added expenditure. This, in turn, is expected to restrain the global car wash systems market.

North America and Europe combined are anticipated to account for major share of car washing service market

• In terms of region, the global car washing service market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America and Europe, cumulatively, are expected to account for a major share of the global car wash service market.
• High disposable income of the population and openness toward new technologies in these regions are propelling the car washing services market. Furthermore, awareness about benefits of car washing services among consumers in countries across North America and Europe are driving the car washing services market in these regions.

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Key Players Operating in Car Washing Service Market

The global car washing service market is highly concentrated due to the presence of top manufacturers. A few key players operating in the car washing service market are:

• Autec, Inc.
• Autoequip Lavaggi S.R.L.
• Car Wash Systems Inc.
• CAROLINA PRIDE CAR WASH SYSTEMS AND SOLUTIONS
• Coleman Hanna
• D&S Car Wash Equipment Company
• Daifuku Co., Ltd
• Innovative Control Systems Inc.
• Istobal, S.A.
• MK SEIKO CO., LTD.
• Oasis Car Wash Systems

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Car Finance Market 2020 In Depth Study Followed By Top Companies

According to the report, the global car finance market is projected to reach ~US$ 3 Trn by 2030, expanding at a CAGR of ~4% during the forecast period. Rise in the number of young consumers with low capital at disposal and availability of low interest EMI and zero down-payment schemes are boosting the car finance market. Car finance is highly popular in developed countries such as the U.S., those in Europe, and Japan. Car finance is gaining popularity in developing countries such as Mexico, Brazil, India, and China.

Expansion of Car Finance Market

Rising consumer awareness regarding various financial options available, such as loan and lease especially in developing regions, is expected to drive the car finance market. Diversification of automakers into newer business domains, such as banking, and offering zero down-payment loans and additional offers for maintenance are boosting the car finance market. Based on finance type, the loan segment held a major share of the car finance market in 2019.

Auto loans are extremely popular and preferred means to attain car ownership and is widely accepted across all geographies. In terms of finance type, the loan segment held a dominant share of the market in developing regions, where leasing is still in the nascent stage and witnesses a lack of awareness. The demand for car leasing is considerably high in North America and Europe and hence, the lease segment accounts for a prominent share of the market, in terms of revenue, in these regions.

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Based on car type, the new car segment held a major share of the global market. Majority of new cars are financed against direct cash purchase globally. Used car finance is gaining popularity, as more consumers are opting for used cars due to their low value and rising mobility needs among consumers. In terms of provider, the commercial banks segment held a leading share of the global market. Commercial banks are the traditional players and leading providers, particularly for car loans. However, OEM captives are aggressively diversifying and penetrating the car finance market and the segment is projected to gain market share by 2030.

Regional Analysis of Car Finance Market

In terms of region, the global car finance market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America accounted for a prominent share of the global car finance market with the U.S. contributing significantly to auto finance debt. The car finance market in the U.S. is mature with witnessed an increase in loan lending to subprime and deep subprime consumers.

North America and Europe cumulatively held a leading share of the global car finance market and the regions are witnessing a shift from car loan to car lease. The market in Asia Pacific and Latin America is anticipated to expand at a high growth rate during the forecast period, owing to rising penetration of car finance in new cars and used cars purchase. Expansion of banking and financial service sectors in developing countries is projected to play a pivotal role in the car finance market.

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Key Players in Car Finance Market

Prominent players operating in the global car finance market include Bank of China, PNB Paribas SA, Alley Financial Inc., Bank of America, Hitachi Capital Asia Pacific, ALD Automotive, LeasePlan, Ford Motor Credit, Volkswagen Financial Services, and Standard Bank Group Ltd.

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Actuator Market Opportunity Assessment Report (2020-2025)

Transparency Market Research (TMR) has predicted the global actuator market to steadily expand between 2017 and 2025. Recent advances upgrading technologies used in the automotive sector will offer impressive growth opportunities to the market. This, coupled with the increasing production of vehicles, will buoy growth for the global actuator market, finds TMR in a new study.

The rising demand for automatic features in vehicles has kept the market players on their toes. With their focus on consolidating market shares, the leading names in the global actuators market are looking to expand their product portfolio. Besides this, several among them are engaging in strategic alliances with other prominent enterprises to gain a stronghold in the global actuator market.

In its study TMR has profiled companies such as Cebi International S.A., HUSCO International, Kiekert AG, Actus Manufacturing, Inc., Robert Bosch GmbH, and others. It studies in detail various strategies adopted by these companies to gain a competitive edge in the global actuator market. According to TMR, the market will exhibit a CAGR of over 7% between 2017 and 2025 in terms of volume. The market is likely to be facilitated by the rising demand for vehicles with automatic features. Against this backdrop, the market has gained immensely from the advent and the subsequent popularity of electric vehicles.

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Regionally, Asia Pacific emerged dominant in the global actuator market on account of the presence of the several leading companies in the region. The expanding automotive industries in India, China, and Japan are forecast to fuel growth opportunities for the market in Asia Pacific. Besides this, the availability of cheap labors, declining import duties, and favorable government initiatives are expected to create lucrative prospects for the actuators market.

Strategies Adopted by Leading Automakers to Sustain Growth will Have Positive Influence

Automakers are running their business amidst cut-throat competition. At a time when consumers are spoilt with choices, several manufacturers are including automatic features to differentiate their products. This in turn gives scope for growth to the global actuator market. In the coming years the market is expected to gain from the rising use of electronic components in vehicles. Given the scenario, the rising disposable income of consumers will bode well for the actuators market. On the downside, the presence of certain stringent regulations is restraining the market to an extent. For instance, various governments strictly observe a few safety norms for vehicles that are projected to fuel the demand for actuators.

Rising Demand from HVAC Segment to Boost Growth

Be it as it may, some of the strict guidelines have compelled automakers to include systems such as VVTs, turbochargers, and active grill shutters in their vehicles. Actuators are integral to these systems hence such regulations are expected to sway demand in favor of the global actuator market. In the coming years, the market is expected to witness rising demand from the HVAC, which also held dominance in the market based on application. The rising demand from this segment is forecast to bode well for the market. Furthermore, the increasing adoption of headlamps is expected to bolster sales prospects.

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This review is based on a TMR report, titled “Actuator Market (Actuator Type - Electric Actuator, Hydraulic Actuator, Pneumatic Actuator, Mechanical Actuator; Vehicle Type - Passenger Vehicle, Commercial Vehicle, Electric Vehicles; Application - Variable Valve Technology, Turbochargers, Coolant and Refrigerant Systems, Brake System, Active Grill Shutter, Adaptive Headlamps, HVAC Systems; Sales Channel - Original Equipment Manufacturer, Aftermarket) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”

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Hub Motor Market Growth, Latest Trend Analysis and Forecast 2030

According to the report, the global hub motor market for electric vehicle is projected to reach US$ 27.4 Bn by 2030, expanding at a CAGR of 22.5% during the forecast period. Rise in demand for fuel-efficient and lightweight vehicles across the globe, which provide comfort and noiseless driving, is likely to propel the hub motor market for electric vehicle. Increase in vehicle electrification across the globe due to enactment of vehicle emission standards is likely to boost the demand for electric vehicles across the globe.

Moreover, rise in technological development, including wireless hub motor, is projected to lead to the development of advanced electric vehicles including those, which receive electricity wirelessly through transmitting coils that are embedded in road surfaces. This is anticipated to augment the hub motor market for electric vehicle across the globe.

Expansion of Hub Motor Market for Electric Vehicle

Surge in trade volume, owing to rising bilateral trade among countries is projected to boost the hub motor market for electric vehicle during the forecast period. China witnessed a surge in both general trade volume and proportion, escalating to 15.66 trillion Yuan. China trade volume accounted for 56.4% of total foreign trade. Major trading partners of China are the U.S., the European Union, and ASEAN. Exports of China to the U.S. further rose by 15.2% year-on-year.

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Based on vehicle type, the global hub motor market for electric vehicle has been segmented into passenger vehicle and commercial vehicle. Passenger vehicle is likely to be a highly lucrative segment during the forecast period. This is primarily due to a rise in the production of passenger vehicles across the globe. Rise in adoption of electric vehicles in major developing countries, including the U.S., China, Germany, and Japan, is expected to propel the hub motor market for electric vehicle across the globe.

In terms of electric vehicle type, the battery electric vehicle segment dominated the market, as increase in the demand for electric vehicles due to enactment of emission regulation is fueling the hub motor market for electric vehicle. Moreover, major vehicle manufacturers are emphasizing on investments for the development of battery and trying to reduce the cost of the battery electric vehicle, which is likely to fuel the hub motor market for electric vehicle.

Regional Analysis of Hub Motor Market for Electric Vehicle

In terms of region, the global hub motor market for electric vehicle has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the global hub motor market for electric vehicle in 2019. It is anticipated to hold a leading share during the forecast period, due to the rise in the production and sale of vehicles in China and ASEAN. Increased demand for electric vehicle across Asia Pacific is anticipated to boost the hub motor market for electric vehicle across the region.

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Prominent players operating in the global hub motor market for electric vehicle include ZIEHL- ABEGG, HEINZMANN GmbH & Co. KG, Protean electric., Bonfiglioli Riduttori S.p.A., ZF Friedrichshafen AG., NSK Limited, Evans Electric, Hyundai Mobis Co. Ltd.., TM4 Inc., e-traction B.V., Kolektor, Elaphe Ltd, NTN Corporation., Magnetic Systems Technologies, GEM Motors d.o.o, Siemens AG, Printed Motor Works, YASA Limited, and Schaeffler AG.

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Huge Demand For Automotive Lubricant Market By Constraint, Production, Summary And Future Prospects 2026

Transparency Market Research has published a new report titled, “Automotive Lubricant Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global automotive lubricant market is anticipated to surpass US$ 120 Bn by 2026, expanding at a CAGR of more than 4% during the forecast period.

Increased number of on-road vehicles, globally, is driving the automotive lubricant market. Average age of vehicles has increased with more number of people preferring to retain their vehicle. Consequently, an increased number of ageing vehicles on the road need maintenance, thereby driving the demand for automotive lubricant.

Demand for lower viscosity oils has increased due to their ability to improve engine performance and fuel economy. OEMs are recommending lower viscosity lubricants and shifting the OEM and aftermarket demand toward better quality synthetic /semi-synthetic oils. Consumers are becoming more aware about maintenance of their vehicle’s health. Synthetic/Semi-synthetic oils are expensive but have longer drain interval time and hence, adoption of these oils is a win-win situation for both manufacturers and consumers.

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Therefore, the market is moving toward higher value lubricants. API or API-equivalent standards are followed globally in order to curb rising emission and maintain minimum performance of lubricants. Rising performance requirements are prompting OEMs to seek better quality lubricants, which in turn is boosting the automotive lubricant market.

Vehicle users in North America and Europe prefer automatic transmission, which contributes to the high demand for automatic transmission fluid (ATF) in these regions. Asia Pacific is witnessing a technology shift from manual to automatic transmission, owing to the rising demand for continuously variable transmission and dual clutch transmission. This is expected to drive the demand for ATF in the region.

In terms of sales channel, the aftermarket segment is expected to dominate the global automotive lubricant market. Automotive lubricants require periodic replacement and hence, the demand for lubricants in the aftermarket is high. OEMs have different lubricant specifications in different countries. However, OEMs are converging to maintain same portfolio across the global market in order to simplify marketing and distribution.

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Key players operating in the global automotive lubricant market include Royal Dutch Shell plc, ExxonMobil Corporation, BP p.l.c., Chevron Corporation, Total S.A.., Sinopec Corporation, Fuchs Lubricants Co., LUKOIL, Phillips 66 Company, Valvoline LLC, Repsol S.A., JXTG Nippon Oil & Energy Corporation, Bharat Petroleum Corporation Limited, Indian Oil Corporation Limited, Petrobras, and Morris Lubricants. The market is largely fragmented due to the presence of several public-sector companies.

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Handheld Drug Detector Market Research Reports & Analysis

 

• Illicit consumption and distribution of controlled substances such as narcotics (including LSD, heroin, opium, Methaqualone, CBD, and THS) are noteworthy public safety issues in numerous countries worldwide.
• Drug detectors are used to control the synthesizing, possession, or distribution of such drugs. Armed forces, law enforcement agencies, and aviation industry are some of the prominent end-users of drug detectors.
• Drug detectors can be portable or tabletop. Handheld drug detectors have attained significant traction in the past few years owing to their ease of use and mobility.
• Some of the key applications of drug detectors include sample/laboratory drug testing, and presumptive drug testing.
• Increasing incidence of illegal drug trafficking across the globe has raised the demand for advanced handheld drug detecting equipment
• However, relatively higher up-front cost of these devices are likely to hinder the growth of the global handheld drug detector market during the forecast period

Radical growth in drug abuse cases across the globe to drive the demand for handheld drug detectors

• Drug abuse has become a global concern, due to which government agencies across the world have taken several initiatives, which in turn have increased the demand for drug detecting equipment across the globe.
• For instance, in March 2019, the Customs and Border Patrol agents at the Dallas airport (Fort Worth International Airport) caught a shipment of 49 lbs. of GBL (Gamma-Butyrolactone) using a handheld drug detector.
• Federal agencies and law makers are expected to continue demanding handheld drug detectors that are lighter, more powerful, and provide non-intrusive detection in order to combat the burgeoning tide of controlled substances distribution

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Relatively higher cost, complexity, and maintenance impeding the adoption of handheld drug detectors

• Despite these products designed to be used by professionals, constant improvements in handheld drug detectors are likely to require dedicated training for its optimal operation.
• In addition, unlike conventional drug testing devices, handheld drug detectors require periodic maintenance
• Also, the cost of procurement of these devices is relatively high, which impacts its affordability aspect, particularly for developing/third world nations. Although some manufacturers provide handheld drug detectors at lower cost, the efficiency of the same are suspect.
• The aforementioned factors are thus projected to hinder the growth of the global handheld drug detectors market

North America to Hold Leading Share of the Global Handheld Drug Detector Market

• Geographically, the global handheld drug detector market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
• Country-level analysis of North America features the U.S., Canada, and Rest of North America. Analysis and forecast of the handheld drug detector market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the handheld drug detector market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The handheld drug detector market in South America is segmented into Brazil, and Rest of South America.

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North America dominated the market in 2018 due to rising prevalence of drug abuse cases resulting in extensive investment by government agencies in procuring highly efficient and optimal drug detection equipment. Apart from North America, Asia Pacific, South America, and the Middle East are also potential consumers of handheld drug detectors.

• The market in Asia Pacific is projected to expand at the fastest CAGR, followed by North America and the Europe during the forecast period.

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Hydrogen Water Dispenser Market Trends, Regulations and Competitive Landscape Outlook to 2019-2027

 

• A hydrogen water dispenser is a machine that adds extra hydrogen molecules in water to increase the health benefits of water. Hydrogen molecules act as antioxidants and help water to neutralize free radicals which are responsible for diseases, inflammation, and aging. Regular water contains fewer hydrogen molecules in a free state. An increase in hydrogen concentration in water helps to deal with several health issues such as diabetes, hardening of heart vessels, and Alzheimer's.
• Growing air and water pollution, and health-related problems are encouraging people to shift to products which offer some extra health benefits. Increasing awareness about hydrogen water benefits is boosting the demand for hydrogen water dispensers. Demand for the product is increasing from the commercial sector as hotels, restaurants, and hospitals prefer hydrogen water dispensers. These factors are expected to lead to significant growth of the hydrogen water dispenser market in the coming years.

Key Drivers of the Global Hydrogen Water Dispenser Market

• Hydrogen water is an antioxidant and has anti-aging properties. Growing awareness about these health benefits is encouraging consumers to shift to hydrogen water. Several hospitals and clinics prefer to give hydrogen water to their patients to improve their health. Increasing advertisement and branding of hydrogen water dispensers in developed countries also helps manufacturers to increase their customer base. 
• Technological advancement in the product is an encouraging factor for the growth of the hydrogen water dispenser market. Manufacturers are focusing on product development by increasing investment in R&D to enhance the product’s features and improve product efficiency. Growing disposable income in emerging economies is also a positive growth factor for the hydrogen water dispenser market. Increasing demand for safe and healthy products across the globe is the major trend in the hydrogen water dispenser market.

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Hydrogen Water Dispenser Market Anticipated to Create Attractive Opportunities in Future

• Untapped markets in several emerging countries across Asia Pacific and Middle East & Africa, and increasing income boosting the purchasing power and standard of living of people are expected to influence the market demand for hydrogen water dispensers positively. Increasing availability of healthcare services and economic development is anticipated to create lucrative opportunities for hydrogen water dispenser manufacturers in the coming years.

High Product Cost Expected to Hinder the Overall Hydrogen Water Dispenser Market

• High cost of the product is a major obstacle to growth in the hydrogen water dispenser market. Hydrogen water dispensers are unaffordable for middle class people.  This factor is anticipated to adversely influence the market during the forecast period.

North America and Europe anticipated dominating the Global Hydrogen Water Dispenser Market

• North America holds major share in the global hydrogen water dispenser market followed by Europe. Presence of several major brands and increasing product awareness are the major driving factors in these regions. However, several countries in Asia Pacific and Middle East & Africa are showing enhanced demand for hydrogen water dispensers in recent years and are expected to retain a significant growth rate in the coming years. Rising purchasing power of consumers is the major influencing factor in these regions.
• Leading brands in the hydrogen water dispenser market are focusing on online distribution channels to reach out to customers across different regions. Companies also use retail stores and direct sales for business expansion. These factors are also expected to increase the product sales in future.

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Key Players Operating in the Global Market

The global hydrogen water dispenser market is highly concentrated across major manufacturers who account for around 20%–25% share of the overall hydrogen water dispenser market. A few of the key manufacturers operating in the global hydrogen water dispenser market are:

• 1HydroNation
• Alkaline Water Plus
• AlkaWay
• ARUI Corporation
• Bawell
• Brondell
• Gosoit
• Kemp Trading
• Life Ionizers

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