The global wiper system market size is estimated to reach USD 11.07 billion by 2025, according to a new study by Grand View Research, Inc. The growing automobile production is expected to drive market growth over the forecast period.
The improved standard of living and increase in GDP in developing regions has stimulated the purchase of automotive vehicles thereby, fostering the demand for these products. Moreover, the development of road infrastructure in these regions has encouraged commercial transport businesses that are expected to boost the adoption of commercial vehicles.
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Rain sensing wipers are expected to be used on low cost car segments due to the low cost of hardware such as sensors that reduce the overall cost of the wiper system. Thus, it is presumed to raise the functional value of the vehicle that would enable higher sales. Furthermore, these wiper systems increase the safety of the vehicle by minimizing driver distraction.
The industry comprises of small and large players that have varied supply channels. The large players mainly form a supply relationship with the OEM manufacturers whereas smaller players adopt channels such as B2B e-commerce platforms. The market is highly competitive due to the fragmented nature and wide availability of aftermarket products that are cost-effective and saves the buyer’s time.
Quality and pricing are two major factors that enable customer retention for the market players. Major players are undertaking research & development to develop sophisticated wiper systems that enable them to retain market position.
Further key findings from the study suggest:
• The increase in disposable income in developing regions encourage the purchase of vehicles thereby fostering the market growth for wiper systems
• Rain sensing wiper system is the fastest-growing type segment and witnesses a CAGR of 5.0% over the forecast period
• The growing demand for Do-it-Yourself (DIY) has encouraged vehicle owners to install wiper systems conveniently and at a lower cost
• Passenger cars is the largest application segment due to widespread adoption mainly in emerging economies. The segment is expected to grow at a CAGR of 4.9% over the coming years
• Asia Pacific is the largest and the fastest-growing regional segment due to an increase in automobile production in the region
• Key players include in the wiper systems market are Robert Bosch GmbH, ASMO Co., Ltd., Valeo S.A., Denso, Trico Products, MITSUBA, Federal-Mogul, WEXCO Industries, Inc., DOGA S.A., PMP Auto Components Private Limited among others
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Grand View Research has segmented the global wiper system market based on type, application, and regions:
Wiper System Type Scope (Revenue, USD Million; 2014 - 2025)
• Traditional Wiper System
• Rain Sensing Wiper System
Wiper System Application Scope (Revenue, USD Million; 2014 - 2025)
• Passenger Cars
• Commercial Vehicles
Wiper System Regional Scope (Revenue, USD Million; 2014 - 2025)
• North America
o The U.S.
o Canada
o Mexico
• Europe
o The U.K.
o Germany
• Asia Pacific
o China
o India
o Japan
• South America
o Brazil
• MEA
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.