Global Wiper Motor Aftermarket Size & Share | Analysis and Forecast - 2021
“Wiper Motor Aftermarket by Vehicle Type (Passenger Cars, & Commercial Vehicles), and Region (Europe, North America, Asia-Pacific & RoW) – Global Forecast to 2021″
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%.
Key Markets Players:
The wiper motor aftermarket eco-system comprises established global wiper motor manufacturers. Major manufacturers include Valeo S.A. (France), Robert Bosch GmbH (Germany), Magneti Marelli (Italy), DOGA Automotive (Spain) and WAI Global (U.S.A.). The eco-system also includes regional automotive associations such as Society of Indian Automotive Manufacturers (SIAM), Japan Automotive Manufacturers Association (JAMA), European Automobile Manufacturers Association (ECEA) and the Independent Automotive Aftermarket Federation.
Download Free PDF:
Target Audience
- Automobile original equipment manufacturers (OEMs)
- Manufacturers of wiper system and their components.
- Independent aftermarket suppliers.
- Research institutes
- Traders, distributors, and suppliers of wiper motor.
- Market research and consulting firms
Adverse weather conditions like heavy snowfall and rainfall depending upon the country’s climatic conditions determine the usage of wiper system for a vehicle. The countries with higher rainfall or snowfall will have vehicles using their wiper systems on a regular basis. The regular use of wiper systems will lead to wear and tear over a period of time, thus leading to the possibility of the wiper motor needing to be replaced. Average vehicle age is another prominent factor which affects the wiper motor aftermarket. These older vehicles require replacement of parts and components due to their prolonged use. Thus the presence of numerous older vehicles will drive wiper motor aftermarket.
Passenger Cars: Fastest-Growing Vehicle Segment
The passenger cars segment of the wiper motor aftermarket is estimated to register the highest CAGR during the forecast period. This growth is driven by the need for clear visibility, in adverse weather conditions. The wiper motor must be in working condition at all times to maintain a clear view during adverse conditions.
This condition is driving the demand for routine maintenance of parts. This would likely boost the passenger car wiper motor aftermarket.
Europe: Largest Regional Segment
The wiper motor aftermarket has been segmented into Europe, North America, Asia-Pacific, and Rest of the World (RoW). Europe is estimated to lead the wiper motor aftermarket. According to Organisation Internationale des Constructeurs d Automobiles (OICA), European vehicles sales were approximately 19 million units in 2015—an increase of 2.4% from 2014. The increase in vehicle sales will create potential aftermarket in the near future. The average age of the vehicle fleet in Europe is approximately 8-9 years, because the owner’s held on their vehicle for longer duration. Approximately 55-60% of passenger cars in Europe are older than 5 years, these vehicle are subjected to adverse condition and need regular maintenance. The need for regular maintenance widens the target aftermarket which acts as driver for the wiper motor aftermarket.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Comments
Post a Comment