Future Market Insights has announced the addition of the “Automotive Windshield Washer System Market: Global Industry Analysis and Opportunity Assessment 2017-2026" report to their offering.
Valley Cottage, NY -- (SBWIRE) -- 04/16/2018 -- A recent analytical research report composed by Future Market Insights foresees the global automotive windshield washer system market to reflect an above-average growth in the period between 2017 and 2026.
Greater Preference for DIY Auto Products to Impact the Market Growth
The report identifies growing consumer preference for DIY installation and surging popularity of the ecommerce sector as primary growth determinants for the global automotive windshield washer system market. Over the past couple years, the trend toward purchasing DIY automotive parts & systems has gained immense traction, in turn enabling consumers with the convenience of installing auto products on their own. This trend has further induced auto component manufacturers in providing automotive windshield washer system as individual products, so that vehicle owners can later assemble and install them devoid of any additional assistance based on their requirement. Proliferation of ecommerce is further complementing the DIY trend, as consumers are able to easily track products specific to their vehicle's need online and have them delivered to their doorstep without much effort.
Although deemed as one of the most crucial safety components of vehicles, wipers cause distraction owing to their movement on windshield. In a bid to resolve this issue, some automakers have come up with a novel solution to replace wipers. One such solution is ultrasonic force field, introduced by a British automaker McLaren, which has produced a new windshield washer system, the idea being derived from fighter jets. This technology that employs high-frequency sound waves will enable windshield to repel water, ice, mud, and all types of dust particles that are present in the surroundings. This may further impede sales of conventional automotive windshield washer systems to a certain extent, as this new technology is relatively expensive.
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However, advancements in wiper blade technology that are evident with new systems being developed are likely to retain the market's position. Automotive component manufacturers are increasingly taking efforts in designing and developing wiper blade technologies with faster response time coupled with streak-free visibility offering in extreme weather conditions.
Key Research Findings from the Report
Asia-Pacific excluding Japan (APEJ), with an estimated market revenue share of over 30% during 2017 to 2026, will continue to dominate the global market for automotive windshield washer system. Europe and North America are also expected to gain significant shares of the market by the end of the forecast period. Revenues from automotive windshield washer system sales in Latin America will increase at a CAGR comparatively higher than those of sales in Europe and North America through 2026.
2-3 liter capacity of automotive windshield washer system will remain preferred among automakers and vehicle owners worldwide, trailed by 3-4 liter capacity. Additionally, 4-5 liter and 1.5-2 liter capacity segments are likely to latch onto roughly similar market revenue shares by 2026-end. Revenues from sales of 4-5 liter and 2-3 liter capacity automotive windshield washer system are set to record the fastest rise through 2026.
While OEM is anticipated to endure as leading sales channel for automotive windshield washer system in terms of revenues, sales in the aftermarket are set to reflect the highest CAGR through 2026.
Electrical automotive windshield washer system are expected to remain preferred over their mechanical counterparts in the near future, based on technology. Mechanical segment will continue to account for sluggish revenue share of the market.
Passenger cars will account for the largest revenue contribution to the global automotive windshield washer system market during the forecast period. However, revenues from HCV will increase at a slightly higher CAGR than those from passenger cars through 2026.
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Key market players profiled by the report include ASMO CO., LTD., Kautex Textron GmbH & Co. KG, Mergon Group, Denso Corporation, Exo-S, Doga S. A., Mitsuba Corporation, Trico Products Corporation, Continental AG, and HELLA KGaA Hueck & Co.