According to Fact.MR, a market research and competitive intelligence provider, the global car detailing and washing services market stands at US$ 34.8 billion in 2022. The market is poised to expand at a steady CAGR of 4.8% during the forecast period (2022-2032).
The car washing market is witnessing the entry of new business enterprises who are coming into the market with a slightly different approach. Companies are coming up with dry car washes and green car washes to lure new customers. Given the scenario of climate change and scarcity of water, it is believed that the future of the car washing industry is eco-friendly, which means no or minimal usage of water.
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People are ready to pay for the same service if it is being performed via an eco-friendly method. Apart from car washing and detailing service providers, many engineering and equipment manufacturing companies are showing interest in the car washing industry by developing machines and equipment related to the same. Overall, the outlook for the car detailing and washing industry looks promising amid improved macro scenarios.
Key Takeaways from Market Study
- The global car washing and detailing services market is projected to expand at a CAGR of 4.8% and reach US$ 55.6 billion by 2032.
- Conveyor car washing services account for 32% share of the global market.
- North America dominated the global market with 31% share in 2021.
- The market exhibited 3.7% CAGR from 2017 to 2021.
- The Indian market is predicted to grow at the highest CAGR over the decade.
“Eco-friendly and green services are the future of the car washing and detailing industry,” says a Fact.MR analyst.
The current business environment for the car washing industry seems very competitive as none of the market players own close to even 5% market share. With a low barrier to entry and a fragmented market, the industry has witnessed many mergers and acquisitions in the last few years.
- In July 2022, Splash Car Wash completed the acquisition of Clean Co Car Wash.
- Since the start 2021, the industry has witnessed close to 20+ small and large acquisitions.
Prominent car washing and detailing service providers are 3M Company, Allure Detail, CAGGO, Detail King, DetailXPerts, Driven Brands Car Wash, Exclusive Detail, GO Car Wash, Mister Car Wash, Quick Quack Car Wash, The Auto Detailing Company, Tommy’s Express Car Wash, Topaz Detailing, Ziebart International Corporation, and Zips Car Wash.
The market is highly unorganized. The top 20 companies have captured just 10% share of the global market. In developed countries, around 40% of the market is organized; however, in developing countries, less than 20% of the market is organized. This gives an opportunity for established market players to expand their businesses.
- In July 2022, Warburg Pincus completed the acquisition of El Car Wash, one of the largest and fastest-growing express car washing companies in the U.S.
- In September 2022, Super Star Car Wash, a leading car wash company, acquired Wave Wash, a leading conveyor car wash company.