NEW YORK, Jan. 23, 2023 /PRNewswire/ -- According to Technavio, the global car care products market size is estimated to grow by USD 3585.56 million from 2022 to 2027. The market is estimated to grow at a CAGR of 5.48% during the forecast period. The COVID-19 outbreak had a severely negative effect on the global automotive components and accessories market's growth in 2020. Additionally, trade operations were negatively impacted in the first half of 2020 as a result of the rigorous social distance and travel limitations that were put into place. This impacted the expansion of the market for automotive components globally. Worldwide, non-essential goods and services, as well as vehicle parts and accessories, saw a fall in sales. However, vehicle parts and accessories sales soared in 2021 due to the relaxation of the ban on trade and the removal of lockdowns. This is anticipated to result in a rise in demand for automotive parts and accessories throughout the forecast period, which would favorably affect the market expansion of the global automotive components and accessories market. For more Insights on the car care products market, Request a sample report
The supply chain for automobiles has been impacted by the ongoing Russia-Ukraine conflict. Auto sales have fallen slightly in 2022 as a result of significant price volatility and a constrained product supply. The prolonged confrontation between Russia and Ukraine has caused delays in the production of finished items. This has had a substantial impact on the development of the automotive industry, which has hurt European customers' interest in the sector. This will negatively impact the growth of the global automotive market during the forecast period.– buy the report!
Global car care products market - Five forces
The global car care products market is fragmented, and the five forces analysis covers–
- Bargaining Power of Buyers
- The threat of New Entrants
- Threat of Rivalry
- Bargaining Power of Suppliers
- Threat of Substitutes
Global car care products market – Customer landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global car care products market - Segmentation assessment
Segment Overview
Technavio has segmented the market based on application (interior and exterior), end-user (retail and professional), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
- The interior segment will grow at the highest rate during the forecast period. The segment is expected to rise due to the rising demand for automobile cleaning products and solutions during the forecast period. The growth in the demand for car care products is due to the increasing understanding of automobile accessories among customers.
Geography overview
By geography, the global car care products market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the global car care products market growth.
- APAC will account for 42% of the market's growth during the forecast period. China, India, Japan, and South Korea are the major countries in the regional market. The region will be able to strengthen its position in the market for auto care products due to the high growth rate. Additionally, countries like China and Japan are also leading the e-commerce market in terms of online purchases. Therefore, the region offers ideal conditions for the car care products market growth.
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Global car care products market – Market dynamics
Key factor driving market growth
- The growing demand for aftermarket car cleaning products is notably driving the car care products market growth.
- The expansion of the market is being driven by an increase in consumer awareness and the growth in the availability of automobile cleaning products.
- In terms of the number of vendors, their product offerings, and service networks, the automobile aftermarket is experiencing different market dynamics across regions.
- For instance, the automotive aftermarket in APAC is expanding quickly due to the entry of new businesses into both the offline market and e-commerce platforms. Therefore, the rising demand for aftermarket car cleaning products will propel the growth of the worldwide auto care products market during the forecast period.
Leading trends influencing the market
- Growing focus on car maintenance and extending the lifespan of vehicles is the key trend driving the car care products market growth.
- The lifespan of vehicles is getting longer in developed nations like the US, China, and Europe, which is increasing the number of vehicles on the road globally.
- The lifespan of automobiles is further growth due to the expanding use of dependable parts and components, routine maintenance services, and increased customer knowledge of the importance of keeping cars in good working condition.
- Due to the increased lifespan of vehicles, the demand for various automotive care products, including interior and exterior protection/dressing/cleaning solutions is increasing. This is thus anticipated to accelerate market growth during the forecast period.
Major challenges hindering the market growth
- The major challenge impeding the car care products market growth is counterfeit car care products and solutions.
- Due to the market's extremely unstructuredness and lack of regulation, there is a very strong probability of selling low-quality, fake goods.
- As competition rises and new competitors enter the market with strong pricing strategies, the availability of such counterfeit goods grows yearly.
- However, throughout the projected period, the prevalence of fake car care products is expected to restrict the growth of the market during the forecast period.
Driver, Trend & Challenges are the factor of market dynamics which states about consequences & sustainability of the businesses, find some insights from a sample report!
What are the key data covered in this car care products market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the car care products market between 2023 and 2027
- Precise estimation of the size of the car care products market and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the car care products market across APAC, North America, Europe, South America, and Middle East and Africa
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of car care products market vendors
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Car Care Products Market Scope
|
Report Coverage
| Details
|
Page number
| 171
|
Base year
| 2022
|
Historic period
| 2017-2021
|
Forecast period
| 2023-2027
|
Growth momentum & CAGR
| Accelerate at a CAGR of 5.48%
|
Market growth 2023-2027
| USD 3585.56 million
|
Market structure
| Fragmented
|
YoY growth 2022-2023 (%)
| 3.91
|
Regional analysis
| APAC, North America, Europe, South America, and Middle East and Africa
|
Performing market contribution
| APAC at 42%
|
Key countries
| US, China, Japan, Germany, and UK
|
Competitive landscape
| Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
|
Key companies profiled
| 3M Co., Adolf Wurth GmbH and Co. KG, BP Plc, Cartec B.V., Chevron Corp., Energizer Holdings Inc., Exxon Mobil Corp., FUCHS PETROLUB SE, Illinois Tool Works Inc., Mafra SPA, PJSC LUKOIL, Prestone Products Corp., Shell plc, Sinopec Shanghai Petrochemical Co. Ltd., SOFT99 Corp., SONAX GmbH, Tetrosyl Ltd., TotalEnergies SE, Turtle Wax Inc., and Valvoline Inc.
|
Market dynamics
| Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period
|
Customization purview
| If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
|
Browse for Technavio "Consumer Discretionary" Research Reports
Table of Contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global car care products market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Global car care products market 2017 - 2021 ($ million)
- 4.2 Application Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)
- 4.3 End-user Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Application
- 6.1 Market segments
- Exhibit 30: Chart on Application - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Application - Market share 2022-2027 (%)
- 6.2 Comparison by Application
- Exhibit 32: Chart on Comparison by Application
- Exhibit 33: Data Table on Comparison by Application
- 6.3 Interior - Market size and forecast 2022-2027
- Exhibit 34: Chart on Interior - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Interior - Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Interior - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Interior - Year-over-year growth 2022-2027 (%)
- 6.4 Exterior - Market size and forecast 2022-2027
- Exhibit 38: Chart on Exterior - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Exterior - Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Exterior - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Exterior - Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Application
- Exhibit 42: Market opportunity by Application ($ million)
7 Market Segmentation by End-user
- 7.1 Market segments
- Exhibit 43: Chart on End-user - Market share 2022-2027 (%)
- Exhibit 44: Data Table on End-user - Market share 2022-2027 (%)
- 7.2 Comparison by End-user
- Exhibit 45: Chart on Comparison by End-user
- Exhibit 46: Data Table on Comparison by End-user
- 7.3 Retail - Market size and forecast 2022-2027
- Exhibit 47: Chart on Retail - Market size and forecast 2022-2027 ($ million)
- Exhibit 48: Data Table on Retail - Market size and forecast 2022-2027 ($ million)
- Exhibit 49: Chart on Retail - Year-over-year growth 2022-2027 (%)
- Exhibit 50: Data Table on Retail - Year-over-year growth 2022-2027 (%)
- 7.4 Professional - Market size and forecast 2022-2027
- Exhibit 51: Chart on Professional - Market size and forecast 2022-2027 ($ million)
- Exhibit 52: Data Table on Professional - Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Chart on Professional - Year-over-year growth 2022-2027 (%)
- Exhibit 54: Data Table on Professional - Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by End-user
- Exhibit 55: Market opportunity by End-user ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 57: Chart on Market share by geography 2022-2027 (%)
- Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 59: Chart on Geographic comparison
- Exhibit 60: Data Table on Geographic comparison
- 9.3 APAC - Market size and forecast 2022-2027
- Exhibit 61: Chart on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 62: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 63: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 64: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 9.4 North America - Market size and forecast 2022-2027
- Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.5 Europe - Market size and forecast 2022-2027
- Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.6 South America - Market size and forecast 2022-2027
- Exhibit 73: Chart on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 74: Data Table on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 75: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 76: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 9.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 9.8 US - Market size and forecast 2022-2027
- Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.9 China - Market size and forecast 2022-2027
- Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.10 Germany - Market size and forecast 2022-2027
- Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 9.11 Japan - Market size and forecast 2022-2027
- Exhibit 93: Chart on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 94: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 95: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 96: Data Table on Japan - Year-over-year growth 2022-2027 (%)
- 9.12 UK - Market size and forecast 2022-2027
- Exhibit 97: Chart on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 101: Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.3 Impact of drivers and challenges
- Exhibit 102: Impact of drivers and challenges in 2022 and 2027
11 Vendor Landscape
- 11.2 Vendor landscape
- Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 104: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 105: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 106: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 107: Matrix on vendor position and classification
- 12.3 3M Co.
- Exhibit 108: 3M Co. - Overview
- Exhibit 109: 3M Co. - Business segments
- Exhibit 110: 3M Co. - Key offerings
- Exhibit 111: 3M Co. - Segment focus
- 12.4 Adolf Wurth GmbH and Co. KG
- Exhibit 112: Adolf Wurth GmbH and Co. KG - Overview
- Exhibit 113: Adolf Wurth GmbH and Co. KG - Business segments
- Exhibit 114: Adolf Wurth GmbH and Co. KG - Key news
- Exhibit 115: Adolf Wurth GmbH and Co. KG - Key offerings
- Exhibit 116: Adolf Wurth GmbH and Co. KG - Segment focus
- 12.5 BP Plc
- Exhibit 117: BP Plc - Overview
- Exhibit 118: BP Plc - Business segments
- Exhibit 119: BP Plc - Key offerings
- Exhibit 120: BP Plc - Segment focus
- 12.6 Cartec B.V.
- Exhibit 121: Cartec B.V. - Overview
- Exhibit 122: Cartec B.V. - Product / Service
- Exhibit 123: Cartec B.V. - Key offerings
- 12.7 Chevron Corp.
- Exhibit 124: Chevron Corp. - Overview
- Exhibit 125: Chevron Corp. - Business segments
- Exhibit 126: Chevron Corp. - Key news
- Exhibit 127: Chevron Corp. - Key offerings
- Exhibit 128: Chevron Corp. - Segment focus
- 12.8 Energizer Holdings Inc.
- Exhibit 129: Energizer Holdings Inc. - Overview
- Exhibit 130: Energizer Holdings Inc. - Business segments
- Exhibit 131: Energizer Holdings Inc. - Key offerings
- Exhibit 132: Energizer Holdings Inc. - Segment focus
- 12.9 Exxon Mobil Corp.
- Exhibit 133: Exxon Mobil Corp. - Overview
- Exhibit 134: Exxon Mobil Corp. - Business segments
- Exhibit 135: Exxon Mobil Corp. - Key offerings
- Exhibit 136: Exxon Mobil Corp. - Segment focus
- 12.10 FUCHS PETROLUB SE
- Exhibit 137: FUCHS PETROLUB SE - Overview
- Exhibit 138: FUCHS PETROLUB SE - Business segments
- Exhibit 139: FUCHS PETROLUB SE - Key news
- Exhibit 140: FUCHS PETROLUB SE - Key offerings
- Exhibit 141: FUCHS PETROLUB SE - Segment focus
- 12.11 Illinois Tool Works Inc.
- Exhibit 142: Illinois Tool Works Inc. - Overview
- Exhibit 143: Illinois Tool Works Inc. - Business segments
- Exhibit 144: Illinois Tool Works Inc. - Key offerings
- Exhibit 145: Illinois Tool Works Inc. - Segment focus
- 12.12 Prestone Products Corp.
- Exhibit 146: Prestone Products Corp. - Overview
- Exhibit 147: Prestone Products Corp. - Product / Service
- Exhibit 148: Prestone Products Corp. - Key offerings
- 12.13 Shell plc
- Exhibit 149: Shell plc - Overview
- Exhibit 150: Shell plc - Business segments
- Exhibit 151: Shell plc - Key news
- Exhibit 152: Shell plc - Key offerings
- Exhibit 153: Shell plc - Segment focus
- 12.14 Sinopec Shanghai Petrochemical Co. Ltd.
- Exhibit 154: Sinopec Shanghai Petrochemical Co. Ltd. - Overview
- Exhibit 155: Sinopec Shanghai Petrochemical Co. Ltd. - Business segments
- Exhibit 156: Sinopec Shanghai Petrochemical Co. Ltd. - Key news
- Exhibit 157: Sinopec Shanghai Petrochemical Co. Ltd. - Key offerings
- Exhibit 158: Sinopec Shanghai Petrochemical Co. Ltd. - Segment focus
- 12.15 SONAX GmbH
- Exhibit 159: SONAX GmbH - Overview
- Exhibit 160: SONAX GmbH - Product / Service
- Exhibit 161: SONAX GmbH - Key offerings
- 12.16 TotalEnergies SE
- Exhibit 162: TotalEnergies SE - Overview
- Exhibit 163: TotalEnergies SE - Business segments
- Exhibit 164: TotalEnergies SE - Key news
- Exhibit 165: TotalEnergies SE - Key offerings
- Exhibit 166: TotalEnergies SE - Segment focus
- 12.17 Valvoline Inc.
- Exhibit 167: Valvoline Inc. - Overview
- Exhibit 168: Valvoline Inc. - Business segments
- Exhibit 169: Valvoline Inc. - Key offerings
- Exhibit 170: Valvoline Inc. - Segment focus
13 Appendix
- 13.2 Inclusions and exclusions checklist
- Exhibit 171: Inclusions checklist
- Exhibit 172: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 173: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 174: Research methodology
- Exhibit 175: Validation techniques employed for market sizing
- Exhibit 176: Information sources
- 13.5 List of abbreviations
- Exhibit 177: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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