Automotive Windshield Washer System Market was valued at US$ 16Bn in 2019 and is expected to reach US$ 28Bn by 2026, at a CAGR of 7.25% during a forecast period.
The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Automotive Windshield Washer System Market Dynamics
Increasing demand for high-performance and luxury vehicles across the globe is estimated to drive the growth of the Automotive Windshield Washer System Market. Advantage of the present system is that the use of hydrocarbon-based freezing point depressants may be eliminated with the present system. Passenger vehicle sales increased 21 percent year-on-year in April-November 2019. Innovation is likely to intensify among windshield washer system technology & alternative fuels factors to impact more on the growth of the Automotive Windshield Washer System Market.
Major driving factors of the automotive windshield washer system market is the increasing demand for fuel-efficient vehicles and adoption of new technologies, adoption of solar reflective windshields is considered. The emergence of the newer wiper blades and windshield cleaning technologies is improving significant challenges. The windshield will be on the preference list of customers, other components such as nozzle and hose & reservoirs are expected to top the production and demand list in terms of volume. Increasing demand from passenger and commercial vehicles are boosting the market.
Increasing R&D activities by major players for the development of cost-effective products is expected to create new opportunities. The rising demand for integrated and reversible wiper systems is one of the key trends that will gain traction in this market. Higher insurance costs and relatively high competition will act as a restraint to the market.
Automotive Windshield Washer System Market Segment analysis
Based on the vehicle type, the passenger vehicle segment is expected to hold the largest share in the market during the forecast period. The passenger vehicle segment leads the market globally due to the emerging disposable income, rising middle-class population which is contributing to the increasing sales of a passenger vehicle. Passenger vehicle sales were up 2, 3% to 82 million, and LCV sales were up 4% 4.05 million vehicles. 13 out of the 52 markets showed double-digit growth including Russia, Argentina, and Thailand, balancing small declines in major markets like the UK, United States, South Korea, and Mexico. Growth in China gains good uplift to just 2.3% from 17% in 2019.
India and Brazil were other engines of growth, the former setting a third consecutive annual sales record and the latter recovering from a decline the year before Passenger vehicle sales grew 9.24% to 3.04 million units during 2018-19. In Sales Channel, OEM is also expected to lead the market growth.
Automotive Windshield Washer System Market Regional Insights
In terms of region, Asia Pacific is expected to hold the largest share in the market during the forecast period. The Asia-Pacific region is home to some 3.9 billion people representing just over half of the world’s population and implementing stringent quality-improvement processes and driving a multi-year frontline sales transformation to improve customer satisfaction and sales performance.
Countries in the Asia Pacific excluding Japan (APEJ) region are anticipated to reflect a higher inclination toward the use of automotive windshield washer systems owing to increasing production and use of commercial and passenger vehicles. Population with enormous projected growth has important implications in terms of economic development, China remains the largest single market with 25.8 million sales despite reporting the slowest growth rate in more than a decade. This was largely due to the rapid pace of growth seen in the developing economies in China, India, and Indonesia.
The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, brand portfolio expansion, mergers, collaborations, joint ventures, acquisitions, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
Automotive Windshield Washer System Market, Key Highlights:
• Automotive Windshield Washer System Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Automotive Windshield Washer System Market
• Automotive Windshield Washer System Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Automotive Windshield Washer System Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Automotive Windshield Washer System Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Automotive Windshield Washer System Market are also profiled.
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Automotive Windshield Washer System Market, by Technology
Automotive Windshield Washer System Market, by Application
• Headlamp Washer System
• Windshield Washer System
Automotive Windshield Washer System Market, by Component
• Hose & Connectors
• Wiper Motor
• Windshield Wipers
Automotive Windshield Washer System Market, by Vehicle type
• Passenger Vehicle
• Commercial Vehicle
Automotive Windshield Washer System Market, by Sales Channel
Automotive Windshield Washer System Market, by Region
• North America
• Middle East & Africa
• South America
Global Automotive Windshield Washer System Market Key Players
• Robert Bosch GmbH
• Denso Corporation
• Valeo S.A.
• Continental AG
• Mitsuba Corporation
• Bowles Fluidics
• Mergon Group
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