As per Future Market Insights (FMI), the global automotive wiper blades market size is anticipated to grow from US$ 4.71 Bn in 2022 to US$ 8.4 Bn by 2032, exhibiting a CAGR of 5.9% between 2022 and 2032.
Rising production and sales of passenger vehicles, increasing demand for wiper
blades from aged vehicles, and advancement in wiper technology are some
of the key factors driving growth in the global automotive wiper blades
market.
One of the most significant factors propelling the automotive wiper blades business is the growing worldwide automobile
manufacturing. Over the years, rising disposable income and changing
lifestyle have resulted in the surge in middle-class vehicle ownership
and this trend is likely to continue during the forecast period.
To meet this vehicle demand, automotive manufacturers are ramping up their
manufacturing capacities, thereby creating opportunities for automotive
wiper blades market growth.
Similarly, increasing use of rear wiper blade systems in low-end cars is a significant element fueling the
market for automobile wiper blades. Rear wiper blades were formerly
only seen in SUVs, but they are now widely utilized in hatchbacks and
SUVs.
Over the forecast period, it is anticipated that the global automotive wiper blades market would grow quickly. Manufacturers are
increasingly integrating straightforward and low-cost wiper blade
components to expand their customer base.
Key Takeaways from Market Study
- Based on product type, the beam wiper blades segment is projected to grow at the fastest CAGR of 7% during the forecast period of 2022 and 2032.
- By application, windshield wipers segment is estimated to hold the highest share of over 80% in 2022.
- Based on vehicle type, the passenger cars segment is anticipated to hold a market share of more than 71% in 2022.
- East Asia is expected to account for the largest value share of over 45% in the global market by 2032.
- The automotive wiper blades market in China is anticipated to create an absolute dollar opportunity of more than US$ 1.1 Bn between 2022 and 2032.
“Growing motorization rates and global vehicle production are two important
reasons that will open up a lot of opportunities for automotive wiper
blades market. Besides this, surge in customer demand for wiper blades
as an aftermarket accessory will bode well for the market” according to Future Market Insights analyst.
Who is Winning?
Increased emphasis on safety features is driving manufacturers to concentrate on
the performance of the car wiper blade, which is expected to drive sales
of automotive wiper blades throughout the forecast period.
Some of the key automotive wiper blades manufacturers included in the report
are Denso Corporation, Valeo SA, DRiV Incorporated, TRICO Products
Corp., Robert Bosch GmbH, Continental AG, Mitsuba Corporation, Doga, SA,
ITW, Hella KGaA Hueck & Co., Tokai Riki Co., Ltd., Xiong Shun
Automobile Material Co., Ltd., Fu-Gang Co., Ltd., PSV Wipers Limited,
ACDelco, Cap Co., Ltd. (CAPCO), WEXCO Industries Inc., Tex Automotive
Ltd, Syndicate Wiper Systems (P) Ltd., Korea Wiper Blade, KB Wiper
Systems, Pilot Automotive, and Heyner GmbH.
Automotive wiper blades Market Projection
The rising need for rear wiper blades has fueled the expansion of the
automotive wiper blades industry. This demand has been fueled by the
rising popularity of SUVs, hatchbacks, and crossovers as well as the
rising use of rear wiper blades even in entry-level vehicles. An
increase in the number of old cars on the road and wiper blades
recycling are two further factors boosting the market's expansion.
Demand for vehicles has grown as people's discretionary money has grown and as
they have become more self-sufficient financially. Since a sizable
portion of the population relies on used cars, demand for automotive
wiper blades is expected to rise during the forecast period.
Technology's increasing rate of usage has elevated automobile wiper
quality to unprecedented levels. The market for automobile wiper blades
will be driven by this.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of
the global automotive wiper blades market, presenting historical demand
data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the global automotive wiper
blades market based on product type, application, vehicle type, and
sales channel across seven major regions.. The automotive wiper blades
market also report gives us qualitative and quantitative information
about the companies.
About FMI – Automotive and Transportation
The Automotive and Transportation division of FMI provides exclusive
coverage and actionable insights about automotive and transportation
industry encompassing automotive, aviation, shipping and marine, and
railway sectors. Market findings and competition intelligence of OEM,
aftermarket, services and technology landscape have helped numerous
industry stakeholders’ right from automakers, component manufacturers,
channel partners and service providers in taking informed decisions and
keeping them up-to-date with market behaviour.
