The report \"Wiper Motor Aftermarket by Vehicle Type (Passenger Cars, & Commercial Vehicles), and Region (Europe, North America, Asia-Pacific & RoW) - Global Forecast to 2021\", is projected to grow at a CAGR of 2.78%, from USD 2.31 Billion in 2016 to USD 2.65 Billion by 2021.
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
Wiper Motor Aftermarket worth 2.65 Billion USD by 2021
wiper motor aftermarket, BY region, 2021 (USD BILLION)
The wiper motor is a critical component that drives the wiper system. Wiper systems are used on a regular basis in case the vehicle is subjected to adverse conditions such as rainfall or snowfall. Continuous use of a wiper system will result in wear and tear of the motor, which would then have to be replaced. Thus the need of replacement of the wiper motor when subjected to adverse conditions will drive the wiper motor aftermarket. The market is projected to grow from USD 2.31 Billion in 2016 to USD 2.65 Billion by 2021, at a CAGR of 2.78%.
The report covers two major vehicle categories for the wiper motor aftermarket, passenger cars, and commercial vehicles. The wiper motor aftermarket for the passenger car segment is expected to hold the largest share owing to the large number of passenger cars in use. The demand for passenger cars is influenced by economic conditions, changing government policies, and inflation levels. The increasing number of vehicles and their need for regular replacement of parts, owing to consistent use, would fuel the growth of wiper motor aftermarket. The commercial vehicle segment is expected to offer promising growth opportunities. As the distance travelled by commercial vehicles is more than the passenger cars. They are subjected to adverse conditions for longer duration which leads to replacement of components on regular basis.
The Asia-Oceania market for wiper motor aftermarket is expected to grow at a promising CAGR during the forecast period. The region comprises countries such as China, India, Japan, and South Korea, which have been considered for the study. China and India are among the fastest developing economies in the world. Growing awareness about vehicle safety will likely boost the wiper motor aftermarket. Clear visibility is a critical aspect while driving. The effective functioning of a wiper motor is very essential while driving in adverse conditions as it will ensure clear visibility and a safe journey.
About MarketsandMarkets manufacturers such as
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.