Technavio, a tech-focused market research firm, has published a new report on the global automotive polishing machine market, which is expected to grow at a CAGR of more than 8% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio researchers categorize the market into the following key regions: North America, APAC, Europe, and ROW.
|
GEOGRAPHICAL REGIONS |
MARKET SHARE 2016 (%) |
|
North America |
38.84% |
|
Europe |
30.73% |
|
APAC |
23.18% |
|
ROW |
7.25% |
Source: Technavio
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Top three contributors for the global automotive polishing machine market are elaborated below
Automotive polishing machine market in North America: North America’s automotive market is flourishing owing to the presence of several prominent vendors in the region, which creates immense scope for market growth. The growth of the automotive polishing machine market in this region during the forecast period is due to the upsurge in number of vehicles.
According to Abhay Sinha, a lead analyst at Technavio “The economic growth in the BRIC nations is propelling the growth of the automotive industry. With intense vendor competition and saturated markets, most global vehicle manufacturers are shifting their focus to these countries to explore new growth avenues and increase their market shares.”
Automotive polishing machine market in Europe: In Europe, the UK is showing promising growth in the new automotive sales as well as used cars. The increasing used car market is driving the demand for automotive polishing machine market in the region.
Automotive polishing machine market in APAC: The market’s growth in this region is driven primarily by increased per-capita income and purchasing power. The thriving automotive industry in APAC is also expected to contribute to the demand for automotive polishing machines in the region over the next four years.
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The top leading vendors operating in the global automotive polishing machine market are:
- Robert Bosch Tool
- DEWALT
- Griot’s Garage
- Porter-Cable
Other prominent vendors in the market include The Eastwood Company, FLEX, Milwaukee Tool, Meguiar’s, SHANGHAI KEN TOOLS CO., and TorqToolCompany.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive Polishing Machine Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Automotive Composites Market 2017-2021
- Global Automotive Lightweight Materials Market 2016-2020
- Global Automotive Refinish Coatings Market 2016-2020
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