iCrowdNewswire Feb 2, 2021 2:00 AM ET
Automotive Washer System Market is forecast to reach $37.2 billion by 2025, growing at a CAGR 4.6% from 2020 to 2025. An automotive windshield washer system is a wiper fluid system at the vehicle’s windshield which sprays an antifreeze window washer fluid or water through numerous nozzles. As it avoids visibility issues, it is an integral part of the safety system. Furthermore, driver visibility reduces in poor weather conditions, which can be addressed by integrating the automotive washer system. Globally, increasing vehicle production and sales is a major driving factor for the automotive windshield washer system market, as the system is compulsory in both passenger and commercial vehicles. Rising demand for comfortable drive quality is likely to fuel the automotive washer system market during the forecast period. The automotive washer system is cost-effective, durable, reliable and easy to integrate. This is anticipated to boost the automotive washer system market during the forecast period.
By Component – Segment Analysis
During the forecast period windshield wipers are expected to account for a dominant share throughout the forecast period and is expected to grow at a CAGR of 3.3%. Windshield wipers have significant aftermarket demand, as they have a relatively higher rate of replacement. Windshield Wipers help eliminate dust, rain and debris from the front window of the vehicles. Every type of vehicle such as PC, LCV, and HCV requires the Windshield Washer system. The demand for the Windshield Washer System is also expected to increase during the forecast period as the sales of Automobiles increase.
Request for Sample of the Report @ https://www.industryarc.com/pdfdownload.php?id=504241
Report Price: $ 4500 (Single User License)
By Sales Channel – Segment Analysis
The OEM Segment is projected to grow during the forecast period at the highest CAGR 5.2%. In terms of revenues, OEMs will continue to lead the global market for automotive windshield washer systems. The competitive intensity on the market for the automotive washer system is extremely high. Prominent players in the global market for automotive washer systems hold about 30-40 per cent of the market share of market value. These players have large size long term contracts with OEMs. End-user purchasing power is medium while the power of OEM suppliers for automotive washer systems is high on the global market. There is fierce competition among the world’s top players on the automotive washer systems market, and long-term winning is estimated for players with larger OEM contracts.
By Vehicle Type – Segment Analysis
The Passenger Car Segment is projected to grow during the forecast period at the highest CAGR of 5.6%. Over the past few years, passenger car sales have been a robust rise, driven mainly by increased consumer demand for fuel efficiency and travel comfort, such as in crossover and SUVs. The availability of lower interest rates on vehicle loans has given consumers an impetus to buy more expensive vehicles. As the most remunerative vehicle segment in the global automotive windshield washer system market, passenger cars are set to prevail. This is due to increasing sales of passenger cars worldwide. The need for washer systems is also expected to increase as the demand for passenger cars increases.
By Geography – Segment Analysis
APAC is expected to dominate the global Automotive Washer System market with a share of more than 38.8%. Asia Pacific region is the world’s 60 per cent population and is expected to increase over the forecast period. Increasing population raises the need for mobility. It is driven primarily by regional launches of new car models by OEMs, and the rise of GHDI across the region’s emerging countries. These factors propelled further sales of passenger cars in APAC. In addition, robust investment by governments in industrialization and infrastructure development, particularly in China, India, Indonesia and South Korea, has boosted commercial vehicle sales and thus influenced future market prospects in APAC. Consequently, booming economy and improved living standards are key factors driving Asia Pacific’s automotive windshield washer system market.
Drivers – Automotive Washer System Market
Increasing sales of new vehicle
The major factors boosting market growth are increased vehicle production and the adoption of efficient wiper and washer technologies. The increasing density of the urban population combined with the increasing adoption of fuel-efficient automobiles has led to a significant increase in global automotive production. In addition, according to the Organization Internationale des Constructeurs d’Automobiles (OICA), the global production of automotive vehicles in 2019 amounted to 91.7m, with Asia Pacific and Oceania representing approx 51,9% of total production. Moreover, increasing preference for SUVs is also expected to aid growth of the market. For instance, according to International Energy Agency, there are now over 200 million SUVs around the world as of January 2020, up from about 35 million in 2010, accounting for 60% of the increase in the global car fleet since 2010. Thus, in the near future, those factors are expected to drive market growth.
Strong aftermarket sales
The operating life of automotive components is highly dependent on use and has a lifespan threshold. In addition, replacement of washer system components like wipers, blades, pumps, and nozzles depend on the different driving conditions. With shifting supplier focus to lightweight components with multiple vehicle model compatibility, component manufacturers aim to capitalize on the sustainable growth of passenger cars and light commercial vehicles. Furthermore, flourishing e-commerce ecosystem enables OEMs and component suppliers to cater to a broader customer base. Thus, strong aftermarket sales are expected to support the global automotive washer system market growth over the forecast period.
Talk to one of our sales representative about the full report by providing your details in the link below:
Challenges – Automotive Washer System Market
Additional cost of new wiper technologies
The rise of the latest wiper blade and windshield cleaning technologies has resulted in higher final product costs, which are expected to impede market growth. High market penetration of relatively low-cost wiper and washer system alternatives restricts wiper deicer demand, built-in wipers with nozzles and heated nozzle washer systems. Major automakers like General Motors, Tesla and Subaru offer their customers wiper-deicer or heated nozzle systems through exclusive winter / cold climate packages. These systems deliver optimal performance, but their costs are relatively high. Thus, in the near future, those factors are expected to hamper market growth.
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in Automotive Washer System Market. Automotive Washer System Market is expected to be dominated by major companies such as Exo-s, and Zhejiang Zhenqi Auto Parts Corp.,Ltd. Kautex Textron GmbH & Co. KG, Robert Bosch GmbH, Denso Corporation, Mergon Group, Valeo SA, Mitsuba Corporation, Continental AG, Ningbo Joyson Electronic Corp, HELLA KGaA Hueck & Co.,etc
In March 2019, ITS launched online, virtual TruClean Industrial Parts Washer calculator.
Globally, increasing vehicle production and sales in the automotive windshield washer system market is a major driving factor, as the system is compulsory in both passenger and commercial vehicles.
Windshield wipers are experiencing significant aftermarket demand, as they have a relatively higher replacement rate.
In terms of revenues, OEMs will continue to lead the global market for automotive windshield washer systems.
Passenger car sales have been a robust rise over the last few years, driven mainly by increased consumer demand for fuel efficiency and travel comfort, such as in crossover and SUVs. Lower interest rates on vehicle loans have given consumers an impetus to purchase more expensive vehicles.
Asia Pacific region is 60 per cent of the world’s population and is expected to grow over the forecast period. Growing population is raising the need for mobility. It is driven primarily by regional launches by OEMs of new car models, and the rise of GHDI across the emerging countries in the region.
Related Reports :
A. Automotive Engine Cooling System Market
B. Pumps Market
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.
Phone: (+1) 970-236-3677
Keywords: Automotive Washer Market, Automotive Washer Market Size, Automotive Washer Industry, Automotive Washer Market Share, Automotive Washer Market Top 10 Companies, Automotive Washer Market Report, Automotive Washer Market Industry Outlook