Windshield Wiper Market Size shall reach a value of $xx Million in 2028, growing with a CAGR of 9.1% during the forecast period of 2021 to 2028.
Windshield Wiper Market Growth and Trends
The global windshield wiper market currently held a market value of US$ 6940 million in 2020 and is expected to grow at a CAGR of 1.7% to a projected market value of US$ 7680 million by 2024. The increasing globalization and industrialization are the major driving factors behind the growth of the windshield wiper market.
The increasing globalization has resulted in emerging economies with higher disposable incomes. The rising industrialization has increased the penetration of automobiles in the market. There were about 17 million cars sold in the year 2019. The growing demand for automobiles has increased the demand for the associated windshield wipers.
The global automotive wipers market is projected to reach a market value of US$ 5898.6 million by 2026. The automotive wipers market is directly linked to the sales of moto vehicles sales. The sales of automobile units are estimated to reach 114 million units by 2024. The increasing adoption of rear-end wipers in the upcoming car models has significantly increased the demand and need for windshield wipers.
With the increased digitalization and internet penetration, e-commerce platforms have witnessed exponential growth. The ease of shopping experience and the plethora of product ranges to choose from, makes the e-commerce platforms a significant contributor to the windshield wiper market. The rising trend of offering product discounts on e-commerce platforms has also raised the sales of the wipers.
The aerospace sector is another contributor to the windshield wiper market. The global aircraft wiper systems are forecasted to progress at a CAGR of 4% by 2025. The increasing population, air travel, and production of fuel-efficient varieties have directly influenced the orders for new and advanced aircraft. The rising need for aircraft from both commercial and defence lines has bolstered the sales of windshield wipers. The commercial aircraft holds the largest market share and is expected to share the largest market share for the coming years. The line fit wipers are also forecasted to grow at a high CAGR by 2024.
The constant innovations in the windshield wipers technology rendered by the R&D sector are expected to fuel the market growth. Strategic marketing employed by the top market players such as contracts, mergers, and partnerships is expected to positively impact the growth curve of the windshield wiper market.
Windshield Wiper Industry Regional Analysis
Wiper Market Research Report Scope/Definition
Windshield Wiper Market Share and Competition Key companies operating in this industry are: Bosch, Trico, Federal-Mogul, Gates, Valeo, Mitsuba, ITW, Denso, ICHIKOH, Lukasi, and Hella
Windshield Wiper Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2021 - 2028)
• Boneless Wiper Blades
• Bone Wiper Blades
End-Use Analysis (Revenue, USD Million, 2021 - 2028)
Application Analysis (Revenue, USD Million, 2021 - 2028)
• Original Equipment Manufacturers (OEMs) Market
Region Analasis (Revenue, USD Million, 2021 - 2028)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Windshield Wiper Industry Companies
Available Versions of Windshield Wiper Market: -
United States Industry Research Report
Europe Industry Research Report
Asia Pacific Industry Research Report
India Industry Research Report