DUBLIN, Feb. 27, 2023 /PRNewswire/ — The “Automotive Wipers Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030” report has been added to ResearchAndMarkets.com’s offering.
The global automotive wipers market was valued at US$ 4,365.2 Mn in 2021.
- Robert Bosch GmbH
- Valeo S.A.
- ASMO Co. Ltd.
- Trico Products Corporation
- Denso Corporation
- Federal-Mogul Corporation
- Mitsuba Corporation
- WEXCO Industries Inc.
- PMP Auto Components Private Limited
- Doga S.A.
- Camoflex Wiper Systems
Automotive wipers form a quintessential part for any vehicle. They perform the important function of removing water, dirt, and snow from the windshield of a vehicle. Usually, an automotive wiper is powered either by an electric motor or is pneumatically powered.
One of the most important factors driving the automotive wipers market is the continued production of automobiles across the globe coupled with higher demand in the aftermarket segment. However, the global automobile production output has been on a steady decline since 2017.
For instance, the global automobile production output decreased from 97 million vehicles in 217 to 92 million vehicles in 2019. Furthermore, with the onset of the COVID-19 pandemic, global automotive production is expected to register a decline of 20% in 2020. Thereby, the overall demand for automotive wipers is expected to witness a stark reduction in 2020.
In terms of application, another prominent factor aiding the automotive wipers market growth is the increasing adoption of the rear wiper systems in low-end car segment. Earlier, rear wipers found application mostly in SUVs, but off late they are finding extensive application in hatchbacks and compact SUVs.
Moreover, with resumption of economic activities coupled with loosening lockdown restrictions is expected to drive the demand in the aftermarket segment since a large proportion of vehicle owners would seek to start using vehicles after a long pause. Thereby, post COVID-19 recovery, the automobile wipers market is expected to grow at a healthy CAGR of 10.2% during the forecast period from 2022 to 2030.
Increasing application of rear wipers in hatchbacks and Compact SUVs propelling the automotive wipers market growth
Rear wipers segment expected to witness the fastest growth during the forecast period. In 2021, its share stood at more than 25% of the overall market. However, with an increasing number of vehicles equipped with rear wipers, the segment share expected to grow eventually in following years.
Rear wipers are becoming more common by the day and nowadays there are an array of hatchbacks and compact SUVs coming with rear wipers pre-equipped. Growing concern for safety is one of the most prominent factors complimenting the demand growth for rear wipers. However, the windshield wipers segment, the largest in terms of value in 2020, will continue to maintain its dominant position during the forecast period benefiting mostly from the growing global motor vehicle production.
Growing motor vehicle production in major markets such as China and India set to affect the market positively
Asia Pacific represents the largest and most lucrative regional market for automotive wipers worldwide. The value share of Asia Pacific in the global automotive wipers market stood at more than 45% in the year 2020. The trend shall prolong and the region is poised to register strong growth during the forecast period. The world’s largest motor vehicle manufacturer (Toyota) is headquartered in the region.
Other leading motor vehicle manufacturers headquartered in the region include Hyundai, Nissan, Honda and Suzuki. Highly aspirational consumers coupled with fast GDP growth have been the two most prominent growth drivers for most of the emerging markets in Asia Pacific such as; India, China, Malaysia and other developing markets in Southeast Asia.
China, which is the largest motor vehicle manufacturing country in the world, has witnessed a rising middle class, a factor that has complimented the Chinese auto market growth. Improving standard of living and rising disposable income have been important factors driving the automotive wipers demand in the region positively. These factors in combination expected to drive the Asia Pacific automotive wipers market in the following years.
E-commerce emerging as a popular buying destination for automotive wipers
The automotive wipers market is marked with the presence of both local and global players, wherein the local players mostly focus on price competitiveness and the global players on brand value. Moreover, the global players also have the benefit of supplying to the automotive OEMs.
In recent years, with the advent of e-commerce, automotive wipers are widely available through online platforms such as Amazon, eBay, and Alibaba among others. Ease of shopping and wide availability are the two most prominent factors complimenting the online sales growth of automotive wipers.
Moreover, the concept of do-it-yourself (DIY) has gained popularity in recent years. This has led consumers to mostly prefer online platforms to purchase automotive wipers as they are available at a lower price online. However, the growing share of online sales is posing significant challenges for offline market vendors.
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
- Passenger Cars
- Commercial Vehicles
- Windshield Wipers
- Rear Wipers
- Traditional Bracket Blades
- Low-profile Beam Blades
- Hybrid Blades
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Automotive Wipers market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Automotive Wipers market?
- Which is the largest regional market for Automotive Wipers market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Automotive Wipers market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Automotive Wipers market worldwide?
For more information about this report visit https://www.researchandmarkets.com/r/27iqbp-wipers?w=5
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