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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.
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Wiper Motor Aftermarket worth 2.65 Billion USD by 2021
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. The wiper motor aftermarket is primarily driven by two important factors, one is the usage of wiper system, and the other is the increasing number of vehicles on road. The wiper motor is a critical component that drives the wiper system. The vehicles would use wiper system on a regular basis if subjected to adverse conditions such as rainfall or snowfall. The weather conditions in a country will determine the usage pattern for the wiper system. Thus wiper system usage will drive the wiper motor aftermarket.
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.
The wiper motor aftermarket market is dominated by key manufacturers such as Valeo S.A. (France), Robert Bosch GmbH (Germany), MagnetiMarelli (Italy), DOGA Automotive (Spain) and WAI Global (U.S.A.). Valeo S.A. is a strong competitor, and has a wide geographical presence. It has a broad product portfolio for the aftermarket. The company is expanding its global footprint and customer base through various applications. They are increasing their market share in high growth markets such as Japan, India, South America, and Russia. The above-mentioned companies have been focusing on developing new products and forming partnerships and collaborations with key organizations to expand their presence in the global wiper motor aftermarket.
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