SAN JOSE, Calif., April 16, 2018 (GLOBE NEWSWIRE) -- According to a new market research report published by Credence Research “Automotive Wipers Market (Vehicle Type – Passenger Cars and Commercial Vehicles; Application – Windshield Wipers and Rear Wipers; Blade Type – Traditional Bracket Blades, Low-profile Beam Blades and Hybrid Blades ) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026,” the global automotive wipers market is estimated to reach US$ 5,898.6 Mn in 2026 growing at a CAGR of 7.2% during the forecast period from 2018 to 2026.
Market Insights
Automotive wipers are one of the most crucial safety components on any vehicle. It has evolved drastically ever since the first time they were introduced in the early 1900s. This change has been mostly the result of technical improvements, changes in automobiles & other vehicles and consumer demand. Research and development activities have been directed towards developing blades with increasingly flexible rubber to keep out ice and snow and also to develop nonstick coatings on the edges of the blades in order to keep wax and oil from adhering and aging them. Moreover, development of all-weatherproof wiper blade is one of the emerging trends witnessed in the automotive wipers market. The new technology is beneficial in removing snow, dust and dirt.
Increasing global motor vehicle production is one of the most prominent factors impacting the automotive wipers market growth positively. The global automotive wipers market is directly correlated to the global motor vehicle production which is estimated to achieve sales of 114 million units by 2024. Moreover, the motor vehicle production witnessed a rise of 4.5% in 2016 over 2015 and this growth is likely to continue in the years to come. Countries such as China and India have remained in the forefront in this context. Another prominent factor complimenting the automotive wipers market growth is the increasing adoption of rear wipers in entry level cars. In recent years, several automobile manufacturers such as Renault, Toyota and Maruti Suzuki and Tata among others have launched new hatchbacks and compact SUVs models with rear wipers pre-installed.
In recent years, with increasing penetration of the internet, e-commerce has witnessed an exponential growth. This factor has positively impacted the demand growth for automotive wipers, as through online platforms, customers can shop with convenience and also has a plethora of product offerings to choose from. Moreover, e-commerce websites often offer product discounts, which further entices customers to prefer online platforms over offline. In addition, the concept of do-it-yourself (DIY) gaining significant popularity is another factor contributing to the increasing preference of online channels over brick and mortar stores.
Some of the major players operating in the market include Robert Bosch GmbH, Valeo S.A., ASMO Co., Ltd., Trico Products Corporation, Denso Corporation, Federal-Mogul Corporation, Mitsuba Corporation, WEXCO Industries, Inc., PMP Auto Components Private Limited, Doga, S.A. and Camoflex Wiper Systems among others. The global automotive wipers market is characterized by the presence of both global and regional players wherein each of the two have their own distinct sales strategies. Global brands who mostly supply automotive wipers to leading automotive OEMs, rely heavily on quality and service. However, for most of the regional players pricing plays a crucial role.
Browse Full Report With TOC, Figures And Tables @ http://www.credenceresearch.com/report/automotive-wipers-market
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