Automotive Windshield Washer System Market was valued at US$ 16Bn in 2017 and is expected to reach US$ 28Bn by 2026, at a CAGR of 7.25% during a forecast period.
Automotive Windshield Washer System Market, by TechnologyIncreasing 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 that the use of hydrocarbon-based freezing point depressants may be eliminated with the present system. Passenger’s vehicle sales increased 21 percent year-on-year in April-November 2016. Innovation is likely to intensify among windshield washer system technology & alternative fuels factor to impact more on the growth of Automotive Windshield Washer System Market.
Based on the Vehicle type, Passenger Vehicle segment is expected to hold the largest share in the market during the forecast period. 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 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 gain good uplift to just 2.3% from 17% in 2016. 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 2016-17, the highest since 2010-11 when they grew 28.2%, on the back of demand for SUVs. In Sales Channel, OEM is also expected to lead the market growth.
The report provides details list of drivers and restraints of the market, which are influencing the market growth.
Major driving factors of the automotive windshield washer system market are increasing demand for fuel efficient vehicles and adoption of new technologies adoption of solar reflective windshields is considered. Emergence of newer wiper blade and windshield cleaning technologies is improving significant challenges. 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 vehicle. Increasing R&D activities by major players for development of cost effective product is expected to create new opportunities. The rising demand for integrated and reversible wiper system is one of the key trends that will gain traction in this market. Higher insurance cost and relative high competition will act as a restraint to the market.
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 higher inclination toward use of automotive windshield washer system 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.
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Scope of the Report for Automotive Windshield Washer System Market
Automotive Windshield Washer System Market, by Technology
Automotive Windshield Washer System Market, by Application
Automotive Windshield Washer System Market, by Component
Automotive Windshield Washer System Market, by Vehicle type
Automotive Windshield Washer System Market, by Sales Channel
Automotive Windshield Washer System Market, by Region
Key Players Operating in Automotive Windshield Washer System Market
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