Automotive Wiper Market Expected to Witness a CAGR of Over 3% During 2020-2030, Finds Fact.MR
Key automotive wiper market players are increasingly shifting towards the manufacture of curvature automotive wipers to provide durable solutions to customers.
"Consumers need to shift towards the beam blade along with other innovative wipers for an improved clear sight of line and sustainability in their vehicles is anticipated to benefit the Automotive Wiper market." says a Fact.MR analyst.
Automotive Wiper Market - Key Takeaways
• Asia Pacific to remain lucrative over the forecast period due to direct FDI and low labour & overhead cost.
• The Beam blade segment is anticipated to remain the leading wiper blade in the global market.
• Passenger vehicles will remain the most lucrative vehicle type category throughout the forecast period.
• E-commerce is anticipated to strengthen sales, as market players can gain more customers across the globe.
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Automotive Wiper Market - Drivers
• Rise in demand for automobiles and the implementation of rear wipers in new vehicles will be driving the market growth.
• Technological advancements and innovations in the wipers will complement the overall market growth.
• Growing concerns regarding security are compelling the usage of automotive wipers in vehicles.
Automotive Wiper Market - Constraints
• Fluctuating raw material cost is anticipated to restrains the automotive wiper market growth
• Low profitability due to an un-organized and highly competitive market will pose significant challenges for the market.
Anticipated Market Impact by COVID-19 Outbreak
The automotive wiper market witnessed an abrupt halt in the production of automotive as well as automotive wipers on the onset of the COVID-19 outbreak. As the world resumed to its status quo, the second wave of COVID-19 was witnessed across several parts of the world, and the central authorities enacted a second round of lockdown in nations such as Italy, London, and Wales, among others. Therefore, the demand for automotive wipers saw a slump in their sales.
Major companies operating in the automotive wiper market include TRICO, Valeo, Robert Bosch GmbH, AM Equipment, Mitsuba Corp., DENSO Corporation, B.Hepworth and Company Limited, DOGA S.A. etc,