The global automotive washer system market is expected to register a robust CAGR of 5.2% between 2022 and 2032.
The global market reached a valuation of US$ 22.3 Bn in 2021 and is
predicted to touch US$ 23.5 Bn in 2022. The global automotive washer
system market is anticipated to be totaled US$ 39.1 Bn by 2032. Owing to
the rapid expansion of the automotive industry, there is a significant
surge in the overall automotive washer system market around the globe.
The automotive washer system market incorporates around 4% to 7% of its
first parent market, which is an automotive parts and accessories
market.
The global automotive washer system market showed stagnant growth during the historical period from 2014 to 2021 by
registering a CAGR of 3.1%. However, owing to the increasing production
and sales of vehicles, the overall automotive washer system market is
expected to broaden its spheres by growing at a pace of 5.2% CAGR
between 2022 and 2032.
On the basis of region, North America is anticipated to show its dominance in the global automotive washer system
market in terms of revenue in 2022 and is expected to surge throughout
the forecast period. Several factors are responsible for the surge in
the global market such as an increase in vehicle production and sales,
strong presence of key manufacturers, growing popularity of premium
automobiles, increasing research activity, and rising investments in
product development provide the appealing potential for the automotive
washer system market in the region.
Key Takeaways
- The electrically powered rotary pump that sprays water or cleaning fluid at
high pressure to clean the vehicle's glass of the headlight and on the
camera is a part of the vehicle safety system. Owing to the excessive
use of such products in automotive production in developing countries
and the adoption of headlamps and camera washer systems in premium
vehicles are ongoing trends in the automotive industry. - Steady growth is witnessed in the demand for high-end and luxury vehicles in
developing economies such as China, India, and Japan. These vehicles are
stuffed with a headlamp and camera washer system. Furthermore, the
surging replacement of the headlamp washer system in these types of
vehicles is boosting the market growth. - Due to the proliferation of online shopping platforms, component manufacturers are increasingly
collaborating with e-commerce businesses to introduce their products
online. Consumers along with their pattern of online shopping are going
to have a huge impact on the marketing strategy of casted automotive
component manufacturers. The customer feedback and their reviews will
help the manufacturers in formulating astute strategies for targeting
customers. - On the basis of components, the wiper motor segment accounts for more than 45.0% of the global automotive washer system
market and is likely to continue its dominance during the forecast
period. In addition to that, rising production and sales of vehicles
across the globe are other factors driving the automotive washer system
market. - A significant surge in the automotive industry combined with rising demand for advanced safety features is expected to bide well
for the global automotive washer system market over the projection
period.
Competitive Landscape
The global automotive washer system market is rapidly getting popular due to
the presence of several big, medium, and small-scale system developers,
manufacturers, and service providers. Leading automotive washer system
manufacturers are anticipated to launch new products and collaborate and
partner with vehicle manufacturers for better market opportunities.
More Insights into the Automotive Washer System Market
Germany is expected to witness lucrative growth opportunities in the global
automotive washer system market by accounting for around 6.0% of the
market share in 2022. This estimation is further expected to surge
throughout the forecast period owing to the flourishing automotive
sector.
As per FMI analysis, Japan is expected to account for around 8.2% share of the global automotive washer system market in 2022
and it is likely to grow at a steady pace during the assessment period.
