The report forecasts the global automotive polishing machine market to grow at a CAGR of 8.22% during the period 2017-2021.
Global Automotive Polishing Machine Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The recent years witnessed volatile demand for automobiles from developed economies due to the economic slowdown. However, the robust growth from emerging markets is increasing the overall automotive sales. Some of the factors impacting the growth in emerging economies are the ideal population demographics and elevated purchasing power of consumers. The growth in emerging markets, with ongoing industrialization and global trade activity, especially in Brazil, Russia, India, and China (BRIC), have been vigorous. China's massive fiscal stimulus packages in recent years made it the leader in emerging markets. Over the past few years, China has maintained its position as the world's largest automotive market. The automotive market in India is dynamic in nature and rapidly growing. Many auto OEMs are entering the market to tap its huge potential.
According to the report, the automotive industry is dominated by a few global multinational players and several retailers. The multinational players are OEMs, whereas the retail market deals in both new and used cars. The financial crisis of 2008-2009 has negatively impacted the automotive industry. The sales of new vehicles had sharply declined after the crisis whereas, the market for the sales of used vehicles was improving. The aftermath of the financial crisis has finally resolved. However, the used car market is flourishing more in comparison to the new vehicles market.
For example, the used car market in the UK contributed the 52.3% of the total sales in 2015 with revenue of $45 billion. The ratio of used-car to the new-car transaction is growing, and the process of the transaction has become more transparent with the help of online platforms. Consumers can compare prices on different online platforms. Used car buyers are resorting to internet research for buying cars. The used car is sold in the market through three channels: private owners, franchised dealers, and independent dealers. In developed economies like the UK, private owners held 80% of the market share. The increasing penetration of online platform is driving the growth of the used car market.
- Robert Bosch Tool
- Griot's Garage
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by end-user
Part 07: Geographical segmentation
Part 08: Market drivers
Part 09: Impact of drivers
Part 10: Market challenges
Part 11: Impact of drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
Part 14: Key vendor analysis
Part 15: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/wp2qm5/global_automotive
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SOURCE Research and Markets