Rising sales of passenger cars coupled with growing concern towards vehicle maintenance, across the globe to drive the automotive windshield washer system market
The automotive windshield washer system market is poised to touch US$ 30.45 Bn by 2030, growing at a CAGR of 5.1% during an estimated timeframe from 2023 to 2030 on a global scale. Rising automotive industry worldwide coupled with introduction of various windshield maintenance products is the prime factors driving the market growth. Windshield washer is among the integral components of any automotive vehicle irrespective of its price range. Subsequently, consistently growing sales of automotive vehicles, essentially passenger cars, is projected to ensure continued growth for automotive windshield washers in the years to come. Stringent government regulations towards the use of fluid, high maintenance cost are few causes that might hamper the market progression of automotive windshield washer system.
Increasing demand for passenger cars to drive growth prospects
The global automotive industry is becoming deep competitive, with continuous deployment and development of various safety technologies for passenger cars. The automotive industry will prevail in a competitive scenario in the coming years coupled with constant innovations and technological advancement in new vehicles. In addition, automobile manufacturers are engaged in designing and development of innovative system and solution for retaining the cleanliness of a vehicle’s windshield. For instance, Mercedes Benz, a Germany luxury car manufacturer, introduced a new technology “Magic Vision Control®” for the selected premium models to avoid vision blocking spray. Moreover, this technology integrated with heated wiper blades for cold weathers along with wipe and wash configuration.
Increasing consumer demand towards safety and comfort drive is projected to increase the sales revenue for passenger cars, thereby driving the market for automotive windshield washer system over the forecast period. For instance, according to the European Automobile Manufacturing Association (ACEA), in 2020, around 79 million units of passenger cars were sold globally.
Asia Pacific to Dominate, Europe to Witness Strong Growth
Stringent quality-improvement processes coupled with higher sales in the automotive segment in order to improve customer satisfaction and sales performance to drive market growth. Increasing production and use of commercial and passenger vehicles across the Asia Pacific countries excluding Japan (APEJ) region is expected to project a higher inclination toward the use of the automotive windshield washer system. For instance, China remains the largest market with holding a sale of around 25.8 million unit vehicles largely due to the rapid pace of growth in the developing economies in Indonesia, India and China itself. Furthermore, Asia Pacific is expected to hold the largest share for automotive windshield washer system market over the forecast period, owing to rapid growth of vehicle sales across the region.
Europe possesses an adequate number manufacturing capacity to meet the mounting domestic demand for passenger cars and commercial vehicles. For instance, according to the European Automobile Manufacturing Association (ACEA), in 2020, Europe holds a market share of around 21% for passenger cars globally. Subsiquently, increasing adoption for electric vehicles (EV) from both the automotive industry and consumer, is projected to expand the Europe mobility market, thereby leading towards the growth of the automotive windshield washer system market.
Key Players & Competitive Landscape:
Some of the leading manufacturers profiled in the study include MITSUBA Corporation, Exo-s, DENSO CORPORATION, Valeo SA, Continental AG, dlhBOWLES, HELLA GMBH & CO KGAA, Kautex, Zhejiang Zhenqi Auto Parts Corp., Ltd. and TRICO among others.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Automotive Windshield Washer System market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Billion |
| Segmentation | |
Vehicle
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Sales Channel
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Region Segment (2022-2032; US$ Billion)
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Key questions answered in this report
