Automotive Washer System Sales on an Upswing, Easing Lockdown worldwide Due to Coronavirus Outbreak to Generate Growth Opportunities

Growing vehicle production and effectuation of efficient washer & wiper technologies are the major factors supporting the sales of automotive washer systems worldwide. The automotive washer systems sales were expected to touch 1,453.4 Mn units, in volume terms, during 2016 and is likely to grow at a CAGR of 3.5% during the assessment period 2016–2026. The global Automotive Washer Systems Market is likely to account for a market valuation of US$ 29.6 Bn towards the end of 2026.

Key Developments

Some of the major trends witnessed in the global market are a smart technology amalgamation, growing usage of washer systems for the rear camera, expanding acceptance of headlamp washer systems in mid as well as semi-luxury cars and advances in nozzle design & wiper blade.

Additionally, notable opportunities present for washer system manufacturers via an extension in emerging economies. Current vehicle recalls due to the supply of defective washer system along with guidelines commanding usage of headlamp washer systems will make critical weight on the supply side to make cost-proficient, strong, and reliable washer systems, to gain market share.

COVID-19 Impact Analysis

The COVID-19 pandemic effects are getting under control, with the recovery of a gradual automotive sector, although at varied rates. With easing lockdowns worldwide in May 2020, auto sales have started to reflect some signs of improvement. Conversely, key risk aspects of the pandemic’s resurgence stay high, with the chance of markets entering lockdown again.

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Key Takeaways from Market Study

  • Based on components, windshield wipers will hold a dominant volume share and record a volume CAGR of 4.4% during the conjectured period. The category has huge demand from the aftermarket since it has a comparatively higher replacement pace.
  • The wiper motor component category will remain dominant during the estimated period. The category is likely to be estimated at US$ 13.1 Bn towards 2026 end, recording a 5.0% value CAGR during 2016-2026.
  • Pumps and reservoir category will foresee a moderate CAGR expansion throughout the estimated period.
  • Based on vehicle type, the passenger car category will be most lucrative and generate the highest incremental $ prospect during the anticipated period. The category will hold 74.5% of the overall revenue generated in 2016.
  • The LCV vehicle type category will foresee comparatively slower CAGR expansion during 2016-2026 in contrast to HCV and passenger cars.
  • In terms of application, the windshield washer system will uphold dominance both in volume and value terms throughout the forecast period.
  • The headlamp washer system will foresee quick growth and reflect an 8.3% value CAGR in contrast to 4.5% of the windshield washer system.
  • Based on technology, the mechanical washer system will foresee descent in growth pace. The electrical category accounted for 87.1% value share during 2015 and is likely to stay dominant during the projected period.

Regional Insight

APEJ (the Asia Pacific excluding Japan) is anticipated to dominate the market with a projected market share of 31.6% during 2016 and 38.0% by 2026. Conversely, regions such as North America are projected to lose notable basis point share throughout the assessment period due to the current shift of vehicle manufacturing facilities to Mexico, Brazil, and growing nations of Asia Pacific. New product development and innovation are likely to be the key focus of the leading players in the Eastern and Western European region. The MEA region is likely to account for minimal share all through the projected period.

Competitive Landscape

Automobile producers are projected to favor locally sourced components for sustainable supply and economical pricing, consequently benefitting domestic washer system producers. Moreover, international players can influence their capacities to grow into such markets via collaborations with regional participants.

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