SAN FRANCISCO, July 10, 2017 /PRNewswire/ --
The global wiper system market is estimated to reach USD 11.07 billion by 2025, according to a new study by Grand View Research, Inc. The growing automobile production is expected to drive the market growth over the forecast period.
The improved standard of living and increase in GDP in developing regions has stimulated the purchase of automotive vehicles thereby, fostering the demand for these products. Moreover, the development in road infrastructure in these regions has encouraged commercial transport businesses that is expected to boost the adoption of commercial vehicles.
Rain sensing wipers are expected to be used on low cost car segments due to low cost of hardware such as sensors that reduce the overall cost of the wiper system. Thus, it is presumed to raise the functional value of the vehicle that would enable higher sale. Furthermore, these wiper systems increase the safety of the vehicle by minimizing driver distraction.
The industry comprises of small and large players that have varied supply channels. The large players mainly form supply relationship with the OEM manufacturers whereas smaller players adopt channels such as B2B e-commerce platforms. The market is highly competitive due to the fragmented nature and wide availability of aftermarket products that are cost effective and saves buyer's time.
Quality and pricing are two major factors that enable customer retention for the market players. Major players are undertaking research & development to develop sophisticated wiper systems that enables them to retain market position.
Browse full research report with TOC on "Wiper Systems Market Analysis By Type (Traditional Wiper System, Rain Sensing Wiper System), By Application (Passenger Cars, Commercial Vehicles), By Region, And Segment Forecasts, 2014 - 2025" at: http://www.grandviewresearch.com/industry-analysis/wiper-systems-market
Further key findings from the report suggest:
- The increase in disposable income in developing regions encourage the purchase of vehicles thereby fostering the market growth for wiper systems
- Rain sensing wiper system is the fastest growing type segment and witnesses a CAGR of 5.0% over the forecast period
- The growing demand for Do-it-Yourself (DIY) has encouraged vehicle owners to install wiper systems conveniently and at a lower cost
- Passenger cars is the largest application segment due to widespread adoption mainly in emerging economies. The segment is expected to grow at a CAGR of 4.9% over the coming years
- Asia Pacific is the largest and the fastest growing regional segment due to increase in the automobile production in the region
- The key industry participants include Robert Bosch GmbH, ASMO Co., Ltd., Valeo S.A., Denso, Trico Products, MITSUBA, Federal-Mogul, WEXCO Industries, Inc., DOGA S.A., PMP Auto Components Private Limited among others
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Grand View Research has segmented the global wiper system market based on type, application, and regions:
- Wiper System Type Scope (Revenue, USD Million; 2014 - 2025)
- Traditional Wiper System
- Rain Sensing Wiper System
- Wiper System Application Scope (Revenue, USD Million; 2014 - 2025)
- Passenger Cars
- Commercial Vehicles
- Wiper System Regional Scope (Revenue, USD Million; 2014 - 2025)
- North America
- Asia Pacific
- South America
- North America
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.