Global Automotive Polishing Machine Market 2017-2021

Overview of the global automotive polishing machine market

Market research analysts at Technavio predict that the global automotive polishing machine market will grow steadily during the next four years and post a CAGR of more than 8% by 2021. This market research analysis identifies the growth of the used car market as one of the primary growth factors for the car polishing machine market. The automotive industry consists of few global players and several retailers where the retail market deals in both new and used cars. Though the financial crisis of 2008-2009 affected the growth of the automotive industry, it boosted the growth of the used car market. This will increase the investment of owners towards vehicle maintenance, in turn, augmenting the automotive polishing machine industry sales & revenue. Furthermore, the availability of different channels such as private owners, franchised dealers, and independent dealers and the increasing penetration of the online platform will also drive the growth of the used car market, consequently aiding market growth.

With the increase in disposable income of individuals across the globe, there will be a rapid growth in the sales of passenger cars. The developed countries such as the US and the UK are already witnessing a considerable growth of the automotive industry. This will result in increasing the demand for auto detailing and will lead to the growth of the automotive polishing machine market in the next four years.

Competitive landscape and key vendors

Due to the presence of numerous large and medium-sized players, the market appears to be highly fragmented. Car polish machine manufacturers are constantly on the lookout for opportunities to improve their product in terms of its efficiency and effectiveness. The rise in disposable income will encourage owners to invest in the maintenance of their vehicles, which will increase the demand for polishing machines, in turn, intensifying the level of competition among the market players. Product pricing, quality, brand, and variety are some of the major factors that vendors usually compete on. To sustain the highly competitive environment and enhance their market shares, vendors in the market have the need to distinguish their product offerings with a clear and unique value proposition.

The leading vendors in the market are -

• Robert Bosch Tool
• DEWALT
• Griot's Garage
• Porter-Cable

The other prominent vendors in the market are The Eastwood Company, FLEX, Milwaukee Tool, Meguiar's, SHANGHAI KEN TOOLS CO., and TorqToolCompany.

Segmentation by end-users and analysis of the automotive polishing machine market

• Commercial sector
• Individuals

According to the automotive polishing machine market outlook, the commercial sector accounted for the major revenue shares and dominated this market. With the increasing disposable income, the automotive industry is witnessing a rise in sales of luxury cars, which will result in the growth of the auto detailing market. This will subsequently, lead to the increased demand for car polish machines from the commercial sector thereby propelling market growth.

Geographical segmentation and analysis of the automotive polishing machine market

• APAC
• Europe
• North America
• ROW

This market study estimates that in terms of geographical regions, North America will be the major revenue contributor to the market throughout the forecast period. Owing to factors such as the economic development of the US and the focus of major automakers to start manufacturing plants in Mexico, the region will witness an exponential growth of the automotive industry, which will increase the demand for polishing machine for cars since vehicle owners spend a huge amount of money in maintaining their vehicle.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global automotive polishing machine market?
• What are the key market trends impacting the growth of the global automotive polishing machine market?
• What are the challenges to market growth?
• Who are the key vendors in the global automotive polishing machine market?
• What are the market opportunities and threats faced by the vendors in the global automotive polishing machine market?
• Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global automotive polishing machine market?

Technavio also offers customization on reports based on specific client requirement.

Related reports

• Global Automotive Composites Market 2017-2021
• Global Automotive Lightweight Materials Market 2016-2020
• Global Automotive Refinish Coatings Market 2016-2020