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.
Browse 68 market data tables and 34 figures spread through 98 pages and in-depth TOC on “Wiper Motor Aftermarket by Vehicle Type (Passenger Cars, & Commercial Vehicles), and Region (Europe, North America, Asia-Pacific & RoW) - Global Forecast to 2021”
Early buyers will receive 10% customization on reports.
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.
The report studies various globally established wiper motor manufacturers. Major market players include Valeo S.A. (France), Robert Bosch GmbH (Germany), Magneti Marelli (Italy), DOGA Automotive (Spain), and WAI Global (U.S.A.).
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Email: [email protected]