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 Details of Report @ http://www.grandviewresearch.com/industry-analysis/wiper-systems-market
Further key findings from the study 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
About Us:
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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