Competition in the global automotive industry is becoming intense, with continuous development and deployment of various safety technologies for driver’s assistance. The competitive scenario in the industry will prevail in the upcoming years on the coattails of technological advancements and constant innovations being realized in new vehicles.
Apart from safety systems that offer assistance to drivers, automobile manufacturers are seeking the development & design of innovative systems for retaining cleanliness of a vehicle’s windshield. For example, Mercedes Benz, a German luxury automaker, imparts advanced windshield washing system, called “Magic Vision Control”, across its range of premium vehicles. This novel windshield washer system is integrated with heated wiper blades for retained performance in cold weather conditions, along with a wash-and-wipe configuration. Several other automotive giants such as BMW and Audi are also taking efforts in developing and offering technologically advanced windshield washer systems in their vehicles.
A steady growth has been foreseen for the global automotive windshield washer system market over the forecast period, 2017 to 2026, by a new insightful report of Future Market Insights. Worldwide sales of automotive windshield washer systems are evaluated to close in on approximately US$ 25,000 Mn revenues by 2026-end.
APEJ to Account for Largest Market Share
Geographically, Asia-Pacific excluding Japan will continue to latch onto the lion’s share of the market, mainly driven by launches of new car models by the region’s OEMs and the increase in GHDI across the region’s emerging countries. These factors have further propelled sales of passenger cars in APEJ. Additionally, robust investments made by governments for industrialization and infrastructure development, particularly in China, India, Indonesia, and South Korea, has bolstered sales of commercial vehicles, thereby influencing future growth prospects of the market in APEJ.
Passenger car sales have represented a robust rise over the past few years, mainly driven by growing consumer demand for fuel-efficiency and comfort of travelling, for example in crossover and SUVs. Availability of lower interest rates on vehicle loans have provided an impetus to consumers in purchasing more expensive vehicles. Passenger cars are set to prevail as the most remunerative vehicle segment in the global automotive windshield washer system market.
Growing consumer demand for original vehicle parts, coupled with their view of OEM-manufactured vehicle parts as safer choice are rubbing off on automotive windshield washer system sales in this sales channel segment. OEMs will continue to lead the global automotive windshield washer system market in terms of revenues. However, sales in the aftermarket segment are likely to reflect a relatively faster growth, as aftermarket produced vehicular parts are cost-effective and have been greater consumer loyalty over the recent past.
Key Research Findings from the Report
Based on technology, electrical automotive windshield washer system are expected to account for substantially larger market revenue share than their mechanical counterparts
Automotive windshield washer system of 2-3 liter and 3-4 liter capacity are anticipated to remain preferred among vehicle owners
Employing lucrative strategies such as direct supplier relationship with OEMs, establishing distribution networks, installing mass production facilities, and enhancing the product quality, leading automotive component manufacturers are gaining higher shares of the automotive windshield washer system market. However, local and regional manufacturers, with their better understanding on local market & distribution channels, maintain significant position in the market, thereby posing stiff competition to established vendors. FMI’s report has profiled key players supporting expansion of the global automotive windshield washer system market, which include HELLA KGaA Hueck & Co, Trico Products Corporation, Doga S. A., Denso Corporation, and Kautex Textron GmbH & Co. KG.
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