The global wiper system market 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 the
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 in road infrastructure in these regions has encouraged
commercial transport businesses that is expected to boost the adoption of
commercial vehicles.
Rain sensing wipers are expected
to be used on low cost car segments due to 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 sale. 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 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 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 enables them to retain market position.
Browse full research report on Global
Wiper System Market: http://www.grandviewresearch.com/industry-analysis/wiper-systems-market
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 increase in the automobile production in the region
- The key industry participants include 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
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
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
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- Asia Pacific
- China
- India
- Japan
- South America
- Brazil
- MEA
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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