Report : Europe Car Care Products Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Products (Cleaning Products, Polishing and Waxing Products, Fresheners, and Others), Application (Interior and Exterior), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
At 5.0% CAGR, the Europe Car Care Products Market is speculated to be worth US$ 2,045.61 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe car care products market was valued at US$ 1,525.09 million in 2022 and is expected to reach US$ 2,045.61 million by 2028, registering a CAGR of 5.0% from 2022 to 2028. Growing consumer inclination toward car care and surge in use of eco-friendly car care products are the critical factors attributed to the Europe car care products market expansion.
Many car care products are used for wheel, interior, exterior, glass, and paint restoration. These products help protect the vehicle and maintain its original quality, thereby increasing its resale value. The demand for car care products is increasing due to growing consumer awareness about maintaining car's appearance and increasing its durability. Moreover, car owners are spending more on maintaining their old vehicles and new vehicles, owing to the heavy and unstructured nature of the traffic, which is boosting the need for car care products. Consumers are highly focused on improving the air quality inside the car, which is creating a massive demand for car air fresheners. Car air fresheners are used by car owners to neutralize odors and release fragrance inside the cars. Many exotic, woody-and fruity-based fragrance options are available in the market that helps create a subtle and calming ambiance inside the car. Further, the emergence of the COVID-19 pandemic has highlighted the importance of sanitizing and disinfecting surfaces, including car’s interior and exterior surfaces, and proper cleaning to protect themselves from SARS-CoV-2. As a result, the demand for different car cleaning products is increasing among car owners. Thus, the growing consumer inclination toward car care is driving the Europe car care products market growth.
On the contrary, rising preference for commercial car care services hurdles the growth of Europe car care products market.
Based on products, the Europe car care products market is segmented into cleaning products, polishing and waxing products, fresheners, and others. The fresheners segment held 47.4% share of Europe car care products market in 2022, amassing US$ 722.40 million. It is projected to garner US$ 970.53 million by 2028 to expand at 5.0% CAGR during 2022–2028.
Based on application, the Europe car care products market is bifurcated into interior and exterior. The interior segment held 70.8% share of Europe car care products market in 2022, amassing US$ 1,079.44 million. It is projected to garner US$ 1,467.38 million by 2028 to expand at 5.3% CAGR during 2022–2028.
Based on distribution channel, the Europe car care products market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The online retail segment held 33.7% share of Europe car care products market in 2022, amassing US$ 513.64 million. It is projected to garner US$ 696.55 million by 2028 to expand at 5.2% CAGR during 2022–2028.
Based on country, the Europe car care products market has been categorized into Germany, France, the UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 31.3% share of Europe car care products market in 2022. It was assessed at US$ 476.63 million in 2022 and is likely to hit US$ 620.31 million by 2028, exhibiting a CAGR of 4.5% during the forecast period.
Key players profiles in the Europe car care products market report 3M Co; Adolf Wurth GmbH & Co KG; Cartec BV; Holt Lloyd International Ltd; Pidilite Industries Ltd; Shell Plc; SONAX GmbH; Tetrosyl Ltd; and Turtle Wax Inc, among others.
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