Passenger Vehicles to Capture 45% Market Share for Automotive Wiper Market: Fact.MR Study
Published : 25 Oct 2021 Industry: Automotive
Fact.MR anticipated the global sales of automotive wipers to surpass US$ 6.4 Bn, registering a CAGR of 4.5% through the forecast period 2021-2031. The need to switch to a better automotive wiper in used cars for better safety is likely to contribute to the growth of the market. By 2021, a valuation worth US$ 4.1 Bn is projected.
Historically, between 2016 and 2020, the sales of automotive wipers surged at a CAGR of 5%. The onset of COVID-19 affected the automotive industry on a large scale, with global output declining by 16% to less than 78 million vehicles, as per the International Organization of Motor Vehicle Manufacturers. However, the broadening scope of EVs sustained demand for automotive wipers, while eventual lifting of restrictions in the latter half further boosted prospects.
Innovation has been driving the growth of the automotive wiper market. Manufacturers are gradually shifting towards the production of automotive wipers with curvature to offer durable solutions to consumers. Given the frequent need to change the conventional automotive wipers, it is estimated that consumers will shift towards the beam blade and other innovative wipers for better sustainability and clear sight of line in their vehicles.
Key Takeaways from the Market Study
- Passenger vehicles expected to hold more than 45% market share for automotive wipers.
- Low-profile beam blade automotive wipers to register a CAGR of 4.5% until 2031
- High prospects anticipated for windshield wipers, capturing nearly 3/5th of the global market
- 2 out of 5 automotive wiper sales to occur across Europe until 2031
- Asia to possess more than 25% market share for automotive wipers
- North America to emerge as the dominant market, capturing a revenue share worth 45%
“Prolific opportunities abound across the automotive aftermarket. Furthermore, key technological advancements, such as laser based cleaning systems, could revolutionize automotive wiper designs, generating ample growth opportunities” opines a Fact.MR analyst
Prominent automotive wiper manufacturers emphasize on such key growth strategies as introducing new product lines into the market, collaborating with existing multinational, large-scale and small-scale manufacturers as well as acquiring certain market players. Key developments in this regard are as follows:
- In July 2020, Robert Bosch introduced its Bosch Aerotwin windshield wiper series, comprising of an advanced rubber wiper profile. This wiping system deploys the Power Protection Plus (PPP) wiper rubber which offers less abrasion and war due to a special admixture in the blade
- Likewise, in March 2020, Valeo launched a new wiper set in India. The wiper blades are equipped with a design such that it increases wiping durability and ensures optimized cleaning at reduced noise levels. These wiper sets are commissioned to be built within the country itself, at its Vallam plant in Chennai
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global automotive wiper market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study indulges essential insights on the market on the basis of arm type (synchronized radial arm and pantograph arm), blade type (traditional bracket brakes, hybrid blades and low-profile beam blades), vehicle category (passenger cars, LCV and HCV), application (windshield wipers, rear wipers and headlight wipers) and sales channel (OEM and aftermarket) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
About the Automotive Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned automobile team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Consultant - Industrial Goods and Automotive