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 .
Further , the report states that the growth of the market is inhibited by the high cost of the automotive polishing machine . The average selling price ( ASP ) of the automotive polishing machine is $ 200 , which is very high for end-users like individuals . However , for the commercial sector , the ASP of the polishing machine doesn ’ t make a huge difference as auto detailing service providers design the overall package and do the costing of the overall service provided to the customer . However , it is expected that the ASP of the automotive polishing machine will increase due to the volatility of the raw material prices like plastic , used in the manufacturing of the automotive polishing machine .
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry . The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors .
About Automotive Polishing Machines
The automotive sales have improved worldwide . With the increase in consumers ' confidence in various economies , such as the US , the automotive sales in terms of the units sold have improved . In 2017 , the largest automotive market , China accounted for 24.9 million units , which are over 27 % of the global automotive sales in 2015 . In China , the massive population along with strong economic growth is the driving factor for the rapidly growing automotive market . Apart from a strong domestic market , China is an export hub for automobiles and auto components with most of the international original equipment manufacturers ( OEMs ) and tire suppliers having off-shore manufacturing facilities in the country .
Market Reports Center analysts forecast the global automotive polishing machine market to grow at a CAGR of 8.22 % during the period 2017-2021 .
Covered in this report the report covers the present scenario and the growth prospects of the global automotive