MRRS adds "Wiper Motor Aftermarket by Vehicle Type, and Region – Global Forecast to 2021 " latest studies, published in November 2016. It is a professional and in-depth study.
Summary
“Increasing average age of vehicles is expected to drive the wiper motor aftermarket”
The wiper motor aftermarket is projected to grow at a CAGR of 2.78% from 2016 to 2021, to reach a market size of USD 2.65 billion by 2021. The major factor driving the growth of this aftermarket include the increasing the average age of vehicles which increases the probability of components being replaced. Current vehicle models are equipped with better electrical components than their previous versions. Consequently, the current generation of wiper motors have a longer life span than their previous versions. This reduces the potential for wiper motor replacement and would act as a restraint for the aftermarket.
“Passenger cars: Largest vehicle type segment”
Passenger cars are estimated to be the largest segment in the wiper motor aftermarket. Increasing average age of passenger cars and safety concern during the adverse weather conditions are the key factors driving the wiper motor aftermarket. The wiper motors fitted on commercial vehicles are more robust than those fitted on passenger cars. The growing demand for routine maintenance and replacement of parts would boost the wiper motor aftermarket for passenger car segment.
“Asia-Pacific: Highest growth rate for wiper motor aftermarket”
The Asia-Pacific wiper motor aftermarket is projected witness the highest growth during the forecast period. High demand and sales of vehicles, especially from countries such as Japan and India which drives the aftermarket. Increasing vehicle sales subsequently increases the total number of vehicles in use. This would help to grow the wiper motor aftermarket. In this study, the Asia-Pacific has been segmented into China, Japan, South Korea, and India.
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