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Increasing Average Age of Vehicles is Expected to Drive the Wiper Motor Aftermarket

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By : vicky paramguru    29 or more times read
Submitted 2018-08-24 16:53:47
The report "Wiper Motor Aftermarket by Vehicle Type (Passenger Cars, & Commercial Vehicles), and Region (Europe, North America, Asia-Pacific & RoW) - Global Forecast to 2021", is projected to grow at a CAGR of 2.78%, from USD 2.31 Billion in 2016 to USD 2.65 Billion by 2021.
Browse 68 market data tables and 34 figures spread through 98 pages and in-depth TOC on “Wiper Motor Aftermarket by Vehicle Type (Passenger Cars, & Commercial Vehicles), and Region (Europe, North America, Asia-Pacific & RoW) - Global Forecast to 2021”

Early buyers will receive 10% customization on reports.
Adverse weather conditions like heavy snowfall and rainfall depending upon the country’s climatic conditions determine the usage of wiper system for a vehicle. The countries with higher rainfall or snowfall will have vehicles using their wiper systems on a regular basis. The regular use of wiper systems will lead to wear and tear over a period of time, thus leading to the possibility of the wiper motor needing to be replaced. Average vehicle age is another prominent factor which affects the wiper motor aftermarket. These older vehicles require replacement of parts and components due to their prolonged use. Thus the presence of numerous older vehicles will drive wiper motor aftermarket.
Passenger Cars: Fastest-Growing Vehicle Segment
The passenger cars segment of the wiper motor aftermarket is estimated to register the highest CAGR during the forecast period. This growth is driven by the need for clear visibility, in adverse weather conditions. The wiper motor must be in working condition at all times to maintain a clear view during adverse conditions.
This condition is driving the demand for routine maintenance of parts. This would likely boost the passenger car wiper motor aftermarket.
The wiper motor aftermarket is projected to grow from USD 2.31 billion in 2016 to USD 2.65 billion by 2021, at a CAGR of 2.78% during the forecast period. The wiper motor aftermarket is primarily driven by two important factors, one is the usage of wiper system, and the other is the increasing number of vehicles on road. The wiper motor is a critical component that drives the wiper system. The vehicles would use wiper system on a regular basis if subjected to adverse conditions such as rainfall or snowfall. The weather conditions in a country will determine the usage pattern for the wiper system. Thus wiper system usage will drive the wiper motor aftermarket.
The report covers two major vehicle categories for the wiper motor aftermarket, passenger cars, and commercial vehicles. The wiper motor aftermarket for the passenger car segment is expected to hold the largest share owing to the large number of passenger cars in use. The demand for passenger cars is influenced by economic conditions, changing government policies, and inflation levels. The increasing number of vehicles and their need for regular replacement of parts, owing to consistent use, would fuel the growth of wiper motor aftermarket. The commercial vehicle segment is expected to offer promising growth opportunities. As the distance travelled by commercial vehicles is more than the passenger cars. They are subjected to adverse conditions for longer duration which leads to replacement of components on regular basis.
Learn More about Wiper motor aftermarket
Europe: Largest Regional Segment
The wiper motor aftermarket has been segmented into Europe, North America, Asia-Pacific, and Rest of the World (RoW). Europe is estimated to lead the wiper motor aftermarket. According to Organisation Internationale des Constructeurs d Automobiles (OICA), European vehicles sales were approximately 19 million units in 2015—an increase of 2.4% from 2014. The increase in vehicle sales will create potential aftermarket in the near future. The average age of the vehicle fleet in Europe is approximately 8-9 years, because the owner’s held on their vehicle for longer duration. Approximately 55-60% of passenger cars in Europe are older than 5 years, these vehicle are subjected to adverse condition and need regular maintenance. The need for regular maintenance widens the target aftermarket which acts as driver for the wiper motor aftermarket.
The report studies various globally established wiper motor manufacturers. Major market players include Valeo S.A. (France), Robert Bosch GmbH (Germany), Magneti Marelli (Italy), DOGA Automotive (Spain), and WAI Global (U.S.A.).
Asia-Oceania Regional Segment
The Asia-Oceania market for wiper motor aftermarket is expected to grow at a promising CAGR during the forecast period. The region comprises countries such as China, India, Japan, and South Korea, which have been considered for the study. China and India are among the fastest developing economies in the world. Growing awareness about vehicle safety will likely boost the wiper motor aftermarket. Clear visibility is a critical aspect while driving. The effective functioning of a wiper motor is very essential while driving in adverse conditions as it will ensure clear visibility and a safe journey.
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