New car smell: Rising per capita disposable income is expected to lead to an increase in potential demand for industry services
An expanding economy has moderated revenue declines in the car wash industry over the five years to 2023. Businesses have benefited from higher disposable income and increased vehicle registration, which has supported demand for industry services. However, the COVID-19 (coronavirus) pandemic led to a considerable drop in industry performance in 2020 as less travel translated to lower need for industry-relevant services. Recovery following these disruptions has been bogged down by rising consumer prices, which has decreased inflation-adjusted industry revenue. Car wash and auto detailing revenue has been decreasing at a CAGR of 2.1% over the past five years, and is expected to reach $1.3 billion in 2023. Revenue growth is forecast to resume in 2023, with a projected partial recovery of 6.1%.
The Car Wash and Auto Detailing industry in Canada cleans, washes and waxes automotive vehicles, such as passenger cars, trucks, vans and trailers. It also includes self-service car wash establishments.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Petro-Canada
Methodology
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