As per Future Market Insights (FMI), the global automotive wiper blades market size is anticipated to grow from US$ 4.71 Bn in 2022 to US$ 8.4 Bn by 2032, exhibiting a CAGR of 5.9% between 2022 and 2032.
Rising production and sales of passenger vehicles, increasing demand for wiper blades from aged vehicles, and advancement in wiper technology are some of the key factors driving growth in the global automotive wiper blades market.
One of the most significant factors propelling the automotive wiper blades business is the growing worldwide automobile manufacturing. Over the years, rising disposable income and changing lifestyle have resulted in the surge in middle-class vehicle ownership and this trend is likely to continue during the forecast period.
To meet this vehicle demand, automotive manufacturers are ramping up their manufacturing capacities, thereby creating opportunities for automotive wiper blades market growth.
Similarly, increasing use of rear wiper blade systems in low-end cars is a significant element fueling the market for automobile wiper blades. Rear wiper blades were formerly only seen in SUVs, but they are now widely utilized in hatchbacks and SUVs.
Over the forecast period, it is anticipated that the global automotive wiper blades market would grow quickly. Manufacturers are increasingly integrating straightforward and low-cost wiper blade components to expand their customer base.
Key Takeaways from Market Study
- Based on product type, the beam wiper blades segment is projected to grow at the fastest CAGR of 7% during the forecast period of 2022 and 2032.
- By application, windshield wipers segment is estimated to hold the highest share of over 80% in 2022.
- Based on vehicle type, the passenger cars segment is anticipated to hold a market share of more than 71% in 2022.
- East Asia is expected to account for the largest value share of over 45% in the global market by 2032.
- The automotive wiper blades market in China is anticipated to create an absolute dollar opportunity of more than US$ 1.1 Bn between 2022 and 2032.
“Growing motorization rates and global vehicle production are two important reasons that will open up a lot of opportunities for automotive wiper blades market. Besides this, surge in customer demand for wiper blades as an aftermarket accessory will bode well for the market” according to Future Market Insights analyst.
Who is Winning?
Increased emphasis on safety features is driving manufacturers to concentrate on the performance of the car wiper blade, which is expected to drive sales of automotive wiper blades throughout the forecast period.
Some of the key automotive wiper blades manufacturers included in the report are Denso Corporation, Valeo SA, DRiV Incorporated, TRICO Products Corp., Robert Bosch GmbH, Continental AG, Mitsuba Corporation, Doga, SA, ITW, Hella KGaA Hueck & Co., Tokai Riki Co., Ltd., Xiong Shun Automobile Material Co., Ltd., Fu-Gang Co., Ltd., PSV Wipers Limited, ACDelco, Cap Co., Ltd. (CAPCO), WEXCO Industries Inc., Tex Automotive Ltd, Syndicate Wiper Systems (P) Ltd., Korea Wiper Blade, KB Wiper Systems, Pilot Automotive, and Heyner GmbH.
Automotive wiper blades Market Projection
The rising need for rear wiper blades has fueled the expansion of the automotive wiper blades industry. This demand has been fueled by the rising popularity of SUVs, hatchbacks, and crossovers as well as the rising use of rear wiper blades even in entry-level vehicles. An increase in the number of old cars on the road and wiper blades recycling are two further factors boosting the market's expansion.
Demand for vehicles has grown as people's discretionary money has grown and as they have become more self-sufficient financially. Since a sizable portion of the population relies on used cars, demand for automotive wiper blades is expected to rise during the forecast period. Technology's increasing rate of usage has elevated automobile wiper quality to unprecedented levels. The market for automobile wiper blades will be driven by this.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the global automotive wiper blades market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global automotive wiper blades market based on product type, application, vehicle type, and sales channel across seven major regions.. The automotive wiper blades market also report gives us qualitative and quantitative information about the companies.
About FMI – Automotive and Transportation
The Automotive and Transportation division of FMI provides exclusive coverage and actionable insights about automotive and transportation industry encompassing automotive, aviation, shipping and marine, and railway sectors. Market findings and competition intelligence of OEM, aftermarket, services and technology landscape have helped numerous industry stakeholders’ right from automakers, component manufacturers, channel partners and service providers in taking informed decisions and keeping them up-to-date with market behaviour.