Automotive Wiper Component Aftermarket Expected To Surpass Us$ 15 Bn

-
According to a new market report published by Transparency Market Research  “Automotive Wiper Component Aftermarket – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026”, the global wiper system market for automotive is expected to expand at a CAGR of more than 5%, during the forecast period, to surpass US$ 15 Bn by 2026.
The global automotive wiper component aftermarket is projected to expand at a CAGR of more than 5% between 2018 and 2026, according to a new research report by Transparency Market Research (TMR). Increased usage of electronics and the demand for luxury have led to the development of driver assistance features such as rain sensing and is thus, driving the demand of rain sensors. Front wipers being mandatory, in order to maintain clear vision, account for a prominent share of the automotive wiper component aftermarket.
wiper component aftermarket market
Wiper blades being a wear and tear part have a low shelf-life of six months to one year. The wiper blades erode due to their sustained usage and exposure to the environment. The wiper blade offers robust aftermarket potential as it is a serviceable part and requires periodic replacement. Rise in awareness among the consumers and the expansion of dealership and garages are driving the automotive wiper component aftermarket.
Increased preference for cross-overs and SUVs is boosting the market of wiper blades and wiper motor. The shift in consumer preference toward cross-overs and compacts from sedans, as they are cheaper than SUVs yet aesthetically impressing, is expected to drive the automotive wiper component aftermarket. SUVs, compacts, and cross-overs are adopting rear wipers and their increased adoption is projected to fuel the wiper motor and wiper blade segments of the automotive wiper component aftermarket.
Adoption of rear wipers by luxury automakers such Porsche, BMW, and Mercedes is probably expected to further propel the rear wiper market .The used car industry is witnessing expansion due to gaining consumer confidence and increase in number of first-time buyers opting for used cars. Rise in number of used cars is boosting the automotive wiper component aftermarket, as they require frequent maintenance. The average age of vehicle is increasing, owing to the change in people’s preference to retain their vehicle and not scrap it. Increase in aged vehicle fleet on the road is a major driver for the automotive wiper component aftermarket.

Comments

Post a Comment

Popular posts from this blog

Oil and Gas Terminal Automation Market: To Reflect Impressive Growth Rate By 2019 - 2027

-
  Global  Oil and Gas Terminal Automation Market : Overview A sturdy growth rate, compounded annually, will be recorded in the global oil and gas terminal market, states Transparency market Research (TMR), for the period of 2019 to 2027. It will be driven forward on to a high growth trajectory at the back of a number of growth factors. Some of these are low oil prices and growing demand for natural gas across a number of varied industry verticals. Demand for oil and gas will also be pushed up by growing population for its energy and fuel needs. This in turn will require more exploration, extraction, better storage and robust distribution. And, this again would lead to demand for oil and gas terminal automation. Therefore, the market will be rife with new opportunities of growth in this period. And, as per TMR, the players would do their best to make the most of these. Global Oil and Gas Terminal Automation Market: Competitive Landscape Global oil and gas terminal automation market is a
Read more

Military Land Vehicle Electronics Market: Latest Trends and Forecast Analysis up to 2019 - 2027

-
Global Military Land Vehicle Electronics Market – Introduction Military land vehicle electronics are used in military land vehicles to enable navigation, communication, and observation in the exchange of intra-vehicular or inter-vehicular information. They are used in the military to increase warfare capabilities in surveillance, intelligence, and reconnaissance missions. This is expected to enhance the demand for military land vehicle electronics across the world.  The growing trend of an open reference architecture system is augmented by an increasing need for military land vehicle electronics, which is turn is expected to fuel the market. Besides, armored fighting vehicles (AFVs) are equipped with networked information technology, so as to provide them with combat capabilities and optimal situational awareness. This in turn is expected to boost the military land vehicle electronics market over the forecast period. Key Drivers of the Military Land Vehicle Electronics Market
Read more

Impact Sensing Door Unlock System Market will Generate New Growth Opportunities By 2019 - 2027

-
  Impact Sensing Door Unlock System : Introduction The impact sensing door unlock system unlocks the door automatically without a key, it can be operated through a mobile application. The impact sensing door unlock system consists of sensors and an electronic control unit, wherein the sensors receive a signal from the wireless system and transmits that signal to the electronic control unit. The electronic control unit is wired to the central lock, which in turn unlocks or locks all the doors of the vehicle. Key Drivers of Impact Sensing Door Unlock System Market Rise in demand for safety and security features in a vehicle is estimated to boost the impact sensing door unlock system market. Every vehicle manufacturer is trying to boost the integration of advanced safety features, including center locking system with impact sensing door unlock system that is activated through a mobile application. This in turn is projected to fuel the demand for the impact sensing door unlock system. Incr
Read more