The Automotive Windshield Washer System Market is expected to grow from US$ 6,435.4 million in 2021 to US$ 9,234.3 million by 2028; it is estimated to grow at a CAGR of 5.3% from 2021 to 2028.
Sustainable competitive advantage plays a significant role as many automotive windshield washer system market players offer products, components, and washer systems with few areas of differentiation amongst competitors. Therefore, a strategic investment into the development of a washer system that features low-cost, innovative, and efficient solutions can provide a significant business opportunity for the automotive windshield washer system market players in the coming years. For instance, Ford Global Technologies LLC patented a windshield washer system during cold weather conditions during the early 2000s. Hence, continuous investment into strategic research & development, partnerships, and alliances with stakeholders will yield market-disrupting solutions and simultaneously provide several lucrative business opportunities for the market players in the coming years.
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Automakers are opening new manufacturing sites or moving existing ones in growing automotive markets to meet the growing demand for aftermarket and OEM products. According to ACEA, there are currently 301 automobile factories operational across Europe, producing passenger cars, light commercial vehicles, heavy-duty vehicles, buses, engines, and batteries, as of 2022. After the European car industry's production shifted to Eastern Europe, Africa became the next point for automotive production and a growing consumer market. As a result, as per the Deutsche Welle, Stellantis, the world's fourth-largest automotive maker, plans to increase expenditure on automotive parts manufactured in Morocco from €600 million to €3 billion by 2025. The growth of OEM production plants in these nations will increase the potential for windshield washer system suppliers, which is influencing the growth of the automotive windshield washer system market.
Impact of COVID-19 Pandemic on Asia Pacific Automotive Windshield Washer System Market
Asia-Pacific constitutes the world’s two most populated countries and manufacturing hubs across India and China. China imposed strict lockdown and social isolation, which discontinued the manufacturing and production of numerous automotive OEMs and OESs for several weeks resulting in a decline in the demand for automotive windshield washer systems. Moreover, the country also isolated its import and export of critical raw materials and components for numerous automotive vehicles, impacting the supply chain of various end-user industries. Similarly, India also imposed a nationwide lockdown to mitigate the growing number of COVID-19 cases. As a result, the subsequent lockdown and disruption of numerous industrial equipment across China and India contributed significantly, thus adversely impacting the automotive windshield washer system market growth across Asia-Pacific. Further, the closure of several wholesalers, distributors, and sales representatives witnessed limited availability of automotive aftermarket products or related components from other European-and North American-based market players.
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Key Findings of Study:
Based on component, the automotive windshield washer system market is segmented into hose & connectors, nozzles, reservoirs, pumps, and wipers. In 2021, the pumps segment held the largest market share. Based on end user, the automotive windshield washer system market is segmented into commercial vehicle, passenger vehicle, and off-road highway vehicle. In 2021, the passenger vehicle segment held the largest market share. By geography, the automotive windshield washer system market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, Asia Pacific accounted for a significant share of the automotive windshield washer system market.
Company Profiles in the Automotive Windshield Washer System Market Report
· Robert Bosch GmbH
· Bowles Fluidics
· Continental AG
· Denso Corporation
· Doga
· Hella
· Kautex
· Mergon Group
· Mitsuba Corporation
· Trico Products Corporation.
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