Market Research Blog

The automotive brake system market is projected to be valued at US$ 6,211.0 million in 2023 and is expected to rise to US$ 29,601.1 million by 2033. The market is expected to record a significant CAGR of 16.9% during the forecast period.

The automotive brake system plays a critical role in ensuring the safety and control of vehicles on the road. It is a vital component that enables drivers to slow down or bring their vehicles to a complete stop, preventing accidents and ensuring the well-being of both drivers and pedestrians.

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The automotive brake system market encompasses a wide range of components, including brake pads, rotors, calipers, drums, and hydraulic systems, all working together to provide effective braking performance.

As road safety concerns continue to grow, there is an increasing focus on the development of advanced brake systems with improved efficiency, reliability, and responsiveness.

Technological advancements, such as the integration of anti-lock braking systems (ABS), electronic brake-force distribution (EBD), and automatic emergency braking (AEB), have further enhanced the capabilities of automotive brake systems. Additionally, stringent safety regulations imposed by regulatory bodies and governments worldwide are driving the adoption of advanced brake systems in vehicles.

With the mandate of safety features like AEB, which automatically applies brakes to prevent collisions, the automotive brake system market is experiencing significant growth. Furthermore, the growing demand for electric vehicles and the emergence of autonomous driving technology is creating new opportunities and challenges for brake system manufacturers.

In this dynamic market, innovation and continuous improvement in brake system technology are crucial to meet the evolving demands of the automotive industry.

Disc brakes dominate the market with a more than 34.2% market share. These braking systems have gained popularity due to their superior performance, reliability, and safety features. They offer efficient heat dissipation, shorter stopping distances, improved control, and resistance to brake fade.

The mid-size passenger car segment holds a value share of 21.3% in the market. These vehicles rely on advanced braking systems to ensure efficient and reliable stopping power. Mid-size passenger cars are equipped with a combination of disc brakes for the front wheels and either disc or drum brakes for the rear wheels.

North America dominates the market with a market share of 24.8%. The region benefits from increasing awareness of safe driving, advanced technology reducing vehicle weight and friction, and research and development activities by key players.

Europe holds a significant market share at 29.7%, driven by the growing popularity of commercial vehicles and the presence of leading market players.

Germany accounts for 14.4% of the market share in Europe and is witnessing investments and expansion in sustainable products. These trends indicate the growing demand for automotive brake systems driven by safety regulations, technological advancements, and market dynamics in different regions.

Key Companies Profiled

1. TRW Automotive Holdings Corp.
2. Aisin-Seiki Co. Ltd.
3. Continental AG
4. Akebono Brake Industry Co. Ltd.
5. Brembo S.P.A.
6. Halla Mando Corp.

Recent Developments

Ferdinand Bilstein GmbH Co. KG is a well-known aftermarket part provider in over 170 countries across the world. Based on the needs and loads of the vehicles, the firm provides high-quality commercial vehicle brake components. With a market share of 97.0% of the independent aftermarket, the firm is expanding its brake discs and pads coverage.

Veoneer announced a first agreement in April 2020 to sell its brake control business in the United States to ZF Friedrichshafen AG for worldwide market expansion.

Key Segments Covered in the Market Report

Automotive Brake System Market by System Type:

• Disc Brake
• Drum Brake

Automotive Brake System Market by Vehicle Type:

• Mid-Sized Passenger Cars
• Compact Passenger Cars
• Luxury Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Premium Passenger Cars

Automotive Brake System Market by Technology:

• Anti-Lock Braking System (ABS)
• Electronic Stability Control (ESC)
• Traction Control System (TCS)
• Electronic Brake-Force Distribution (EBD)

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific Excluding Japan (APEJ)
• Japan
• The Middle East & Africa (MEA)

 

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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After a detailed analysis of the electric three wheeler market, FMI recently published a new report on EV charging cable market. As per the analysis, sales of EV charging cable hold a current valuation of US$ 2,281.63 million in 2024. Going by this pattern, demand could rise and equate to a market valuation of US$ 16,992.56 million, with a CAGR of 22.24% by 2034.

There are two types of electric vehicle charging cables: public charging and private charging. The private charging segment is predicted to account for a notable portion of the global EV charging cables market.

Due to the expanding number of private electric vehicles on the road, this segment in particular is expected to dominate the market over the assessment period. The public charging segment is projected to dominate the market over the forecast period, accounting for a boost in the number of commercial charging terminals across regions.

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Key Takeaways

• The implementation of electric vehicles is expanding in several countries all over the world with heavy investments in research and development in this sector. Numerous countries including the Netherlands, France, India, and Canada have launched various campaigns in order to encourage the adoption of electric vehicles. Automakers in the automotive sector are given by the state fixed quotas, tax breaks, subsidies, and rebates.
• For purchasing purposes, entitlements are conveniently available for customers. Such considerations have caused a spike in the global production and sales of electric vehicles. In order to ensure the smooth functioning of vehicles, the surging inventory of electric vehicles necessitates the establishment of power grids and charging terminals.
• The major factor driving growth in the EV charging cables market is the development of these vehicles which has resulted in advancements in electric vehicle charging technology and significant investments by automakers in electric vehicles.
• Several organizations develop EV charging cables to make sure quick charging terminals are available for vehicles. Tesla has approximately 1600 supercharging stations available all over the North American region. This propels the development of charging infrastructure, resulting in propelling the global EV charging cable market.

Competitive Landscape

Key EV charging cable providers are rapidly adopting various marketing strategies including new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration in order to increase sales and raise the interest of potential buyers to create a massive customer base and gain a competitive edge in the global EV Charging Cables market.

Key Companies Profiled

OSRAM Licht AG, Phoenix Contact, DYDEN Corporation, Prysmian S.p.A., TE Connectivity, Leoni AG, Aptiv, Tesla Inc., Huber & Suhner AG, Eland Cables, Coroplast, BRUGG Group, BESEN Group.

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Key Segments covered in the EV Charging Cables Industry Survey

By Power Supply:

• AC Charging
• DC Charging

By Product Type:

• Mode 2 Charging Cables
• Mode 3 Charging Cables

By Voltage Capacity:

• 16 Amp
• 32 Amp

By Application:

• Private Charging
• Public Charging

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

More Insights into the EV Charging Cables Market

Asia Pacific EV charging market is expected to dominate the global market landscape. In 2019, the Asia Pacific EV Charging Cables Market was worth US$ 255 Million. Owing to the largest number of transactions and production of electric vehicles in this region, the Asia Pacific region is projected to dominate during the forecast period.

Due to the accelerated adoption of electric vehicles, China is considered the market’s largest contributor. Among several other countries, China is a dominant market leader in electric vehicle charging stations. As per the FMI analysis, China’s EV exports are anticipated to skyrocket over the next few years. In 2020, China generated a revenue of 1.5 million by selling EVs.

North America is the second largest EV charging cables market because of the widening quantity of electric vehicle customers in this region. Despite the COVID-19 challenges, the majority of the North American countries are expected to boost product sales and exports in 2020. The United States is considered a prominent player, providing opportunities for electric vehicle parts.

North America is accounting for a massive market share of 25.7% of the global EV charging cables market. Because of several technological advancements such as fast charging cables, type-2 connecter plugs, and so on have offered leading players in the market an opportunity to expand their horizons.

Europe’s EV charging cables market is expected to witness lucrative growth opportunities backed by the surging adoption of electric vehicles in this region as a result of escalating regulations on vehicle emissions in this region. Europe is accounting for a market share of 31.8% of the global EV Charging Cables market.

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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In 2023, the global decorative car accessories market is estimated to worth US$ 252,595.1 million. The market is expected to reach US$ 443,896.4 million by 2033, with a CAGR of 5.8% from 2023 to 2033.

The decorative car accessories industry is driven by several key factors contributing to its growth and popularity among car owners. Firstly, the increasing demand for personalization and customization in the automotive sector fuels the market for decorative car accessories. Car owners seek ways to express their individuality and style, and decorative accessories provide the perfect solution. Additionally, the rising trend of car enthusiasts and hobbyists taking pride in their vehicles drives the demand for unique and eye-catching accessories.

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Moreover, the availability of a wide range of decorative car accessories in various designs, colors, and materials gives consumers ample options to enhance the aesthetics of their vehicles.

Despite the growth prospects, the decorative car accessories industry faces certain restraints that challenge its development. One major restraint is the impact of economic fluctuations and consumer spending patterns. During periods of economic downturn, consumers tend to prioritize essential expenses over discretionary purchases, which may affect the demand for decorative car accessories. Additionally, regulatory standards and safety considerations also play a role in shaping the industry. Compliance with safety regulations and certifications can increase manufacturing costs and limit the availability of certain types of accessories.

The decorative car accessories industry presents several opportunities for growth and expansion. One significant opportunity lies in the rising adoption of e-commerce platforms and online retail channels. The convenience and accessibility offered by online shopping platforms allow manufacturers and retailers to reach a wider domestic and international customer base. Moreover, the increasing focus on environmentally friendly and sustainable products creates avenues for innovative and eco-conscious decorative car accessories. With the growing awareness of climate change and environmental impact, there is a demand for accessories made from recycled materials or with reduced carbon footprints.

One prominent trend is the use of smart technology and connectivity features in accessories. From smart lighting solutions to wireless charging docks, these accessories enhance the functionality and convenience of the vehicle. Another trend is the integration of sustainable and eco-friendly materials in accessory designs. Car owners are increasingly drawn to accessories made from recycled materials or natural fibers, aligning with their eco-conscious values. Furthermore, minimalist and sleek designs are on the rise, with clean lines and subtle accents favored over overly ornate or flashy styles.

Key Takeaways from the decorative car accessories Market:

• In 2023, the United States accounted for a significant market share of 19.5% in the global decorative car accessories industry, highlighting its dominance in the market.
• Germany secured a market share of 6.9% in 2023, showcasing its position as a key player in the decorative car accessories sector.
• Japan captured a market share of 7.8% in 2023, reflecting its strong presence and contribution to the global decorative car accessories market.
• Australia is expected to witness a CAGR of 0.3% in the decorative car accessories industry, indicating moderate growth in the region.
• China, known for its rapidly growing automotive market, is projected to experience a CAGR of 6.0% in the decorative car accessories industry, demonstrating substantial growth opportunities.
• India is estimated to achieve a CAGR of 5.7% during the forecast period, showcasing the country’s potential for growth in the decorative car accessories market.
• The United Kingdom is anticipated to witness a CAGR of 5.5%, indicating steady growth and opportunities for the decorative car accessories industry in the region.
• The interior segment holds a dominant market share of 62.6% in the decorative car accessories industry.
• Passenger cars capture a substantial market share of 57.3% in the decorative car accessories industry.

What are Key Players Doing to Thrive in the Decorative Car Accessories Market?

The competitive landscape of the decorative car accessories industry is dynamic and filled with various players aiming to capture the attention of car owners seeking to enhance the aesthetics of their vehicles. Established companies and emerging players characterize the market, each striving to differentiate themselves and gain a competitive edge.

Key players in the industry offer a wide range of decorative car accessories, including but not limited to interior decorations, exterior enhancements, lighting solutions, and functional add-ons. These players often invest in research and development to introduce innovative, eye-catching designs catering to evolving consumer preferences. They also focus on quality manufacturing processes to ensure durable and reliable products.

To stay at the top of the market, leading companies often engage in strategic partnerships and collaborations with automobile manufacturers, leveraging their brand reputation and distribution networks. This allows them to offer co-branded or customized accessories tailored to specific vehicle models, enhancing their market reach and customer appeal. Additionally, these players prioritize customer satisfaction by providing excellent customer service and after-sales support.

Challenges in the competitive landscape include counterfeit and low-quality products in the market. Genuine manufacturers and distributors must educate consumers about the importance of purchasing from reputable sources to ensure product quality and safety. Moreover, the industry’s competitive nature drives companies to continuously monitor market trends and consumer preferences, allowing them to adapt quickly and offer the latest designs and innovations.

The major players, including manufacturers & suppliers identified across the global value chain, are:

• Delphi Automotive
• Robert Bosch GmbH
• Continental AG
• Denso Corporation
• Magna International
• Aisin Seiki Co. Ltd.
• Tenneco Inc.
• Federal-Mogul Corp.

Amongst others, there are prime regional manufacturers, such as:

• 3D Carbon Automotive Corp.
• Carroll Shelby International Inc.
• Roush Performance Products Inc.
• Steeda Autosports
• Classic Design Concepts
• JC Whitney

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Key Segments Profiled in the Decorative Car Accessories Market Survey

By Product Type:

• Interior
• Exterior

By Vehicle Type:

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

By Distribution Channel:

• Online Store
• Offline Store

By Region:

• North America
• Latin America
• The Asia Pacific
• MEA
• Europe

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705

For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

 

 

The global Construction Equipment Maintenance And Repair Market is anticipated to grow at a CAGR of 4.1% in 2023 and reach an estimated value of US$ 22.72 billion. In 2033, the construction equipment maintenance and repair industry is expected to be worth US$ 33.96 billion.

As businesses are anticipated to place a greater emphasis on research and development operations for maintaining and repairing vehicles, the construction equipment maintenance and repair industry is predicted to rise steadily.

It would considerably improve the lifespan and operational state of many devices. Due to a few new emerging technologies in the automotive sector, there will be some changes to how vehicles are repaired and serviced.

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Dynamics of the Global Construction Equipment Repair and Maintenance Market

Over the upcoming years, it is anticipated that the repair and maintenance services for both heavy and light construction equipment may continue to make up the same percentage of the construction equipment maintenance and repair market. Wheel loaders are anticipated to experience a significant growth rate among serious construction equipment repair and maintenance services.

Mini excavators are among the light constriction equipment predicted to continue a steady development rate. Repair and maintenance services for construction equipment are anticipated to expand significantly in Europe, largely thanks to increasing German residential construction industry demand.

Construction equipment maintenance and repair business are strengthening their efforts in developing nations like India and Latin America. The primary market-boosting initiatives are projects for new roads, improved infrastructure, new airports, irrigation systems, and urban infrastructure.

The market expansion for construction equipment maintenance and repair can be restrained by the ineffective availability of financing choices, poor uptime of construction equipment repair and maintenance services, a lack of government backing, and a sluggishly penetrated leasing or rental sector. One of the most prevalent industry trends is that OEMs are increasingly focusing more on repairing and maintaining construction equipment, which may increase construction equipment maintenance and repair market competition.

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Regional Outlook

Construction activity, infrastructure development, and economic expansion are some variables that affect the geographical outlook for the construction equipment maintenance and repair market. These services have historically been in high demand in North America, Europe, Asia-Pacific, and the Middle East.

More construction projects are underway in emerging economies in Latin America and Africa, which may help the industry expand. To assess the present and potential future of the construction equipment repair and maintenance services market in particular regions, it is critical to monitor regional trends, economic indicators, and infrastructural developments.

Key Takeaways

• The United States might increase its market share for construction equipment maintenance and repair by 19.50% % between 2023 and 2033.
• Between 2023 and 2033, Germany may hold 6.9% of the construction equipment maintenance and repair industry.
• Japan’s share of the construction equipment maintenance and repair industry could reach 7.8% between 2023 and 2033.
• Australia to hold a 3.5% share of the construction equipment maintenance and repair business from 2023 to 2033.
• During the forecast period, Chinese construction equipment maintenance and repair business to expand at a CAGR of 4.2%.
• From 2023 to 2033, the United Kingdom construction equipment maintenance and repair industry to register at a 3.9% CAGR.
• Through 2033, the Indian construction equipment maintenance and repair market to record a CAGR of 4%.
• The consumables segment to acquire a substantial market share of 67.4% in the components category between 2023 and 2033.
• The aftermarket segment to hold a significant market share of 47.3% in the sales channel category between 2023 and 2033.

Competitive Landscape

With so many companies striving for market share, the rivalry in the construction equipment maintenance and repair may be fierce. Competition in the market may come from construction equipment maintenance and repair manufacturers, specialized repair and maintenance service providers, equipment rental businesses, and even original equipment manufacturers (OEMs).

The key to remaining competitive in construction equipment maintenance and repair industry is adapting to new technology, providing complete services, and forming solid bonds with customers.

Top Key Players in Construction Equipment Repair and Maintenance Market

1. Chevron Lubricants
2. ExxonMobil
3. RelaDyne
4. Atlas Copco
5. Castrol
6. Taylor Oil Company
7. Valvoline
8. Uslube
9. Duralene
10. Polygraph

Key Segments

By Component:

• Consumable
• Grease
• Engine Oil
• Radiator Coolant
• Brake Oil
• Hydraulic Fluids
• Transmission Fluid
• Gear Oil
• Parts
• Excavator Bucket Teeth
• Hydraulic Cylinder
• Hydraulic Pumps
• Track Chain
• Belt
• Batteries
• Fuel Injector
• Engine Starter
• Air Filters

By Sales Channel:

• OEM
• OES
• After Market

By Vehicle:

• Dozer
• Loaders
• Graders
• Scrapers
• Backhoe Loaders
• Compactors

By Service Provider:

• Authorized Service Center
• Third-Party Service Center
• Independent Service Center

By Service Type:

• Repair and Maintenance
• Service Only

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia Pacific
• The Middle East and Africa

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

 

 

The CNG and LPG vehicles market is anticipated to strive at a steady CAGR of 4.6% between 2023 and 2033. The market is expected to have a market share of US$ 8.54 billion by 2033 while it is likely to be valued at US$ 5.44 billion in 2023

• Easy transportation, high delivery of heat energy and their low calorific value is advancing the sales of LPG and CNG vehicles. Furthermore, the limited maintenance, low running price, and reduced pollution levels are garnering market growth further.
• Governments around the world are focusing on finding new fossil fuels other than gasoline. Further, the higher prices of gasoline and the requirement for highly refined engines are also pushing the sales of LPG and CNG vehicles.
• New product launches with effective passenger vehicles with high mileage and enhanced power delivery are gaining traction in the market. Alongside this, advanced features like switching between CNG and Petrol between are enabling vehicles to reach their maximum capability.
• The low levels of pollution levels and efficient function make the CNG and LPG vehicles worth promoting through the governments. Governments around the world are putting subsidies on these vehicles.

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 Key Takeaways:

1. The United States market leads the CNG and LPG vehicles market in terms of market share in North America. The United States region held a market share of 15.2% in 2022. The growth in this region is attributed to the government policies limiting the gasoline-based vehicles, aware citizens, and high promotion of CNG and LPG vehicles.
2. Germany’s market is another important market in Europe region. The market held a market share of 7.1% in 2022. The growth is attributed to being the hub of automotive transition from gasoline to natural gas. The presence of a high number of brands is garnering market growth in the region.
3. India’s analog-to-digital converter market thrives at a CAGR of 4.5% between 2023 and 2033. The growth is attributed to aggressive government efforts for the energy transition and subsidies.
4. China’s market also thrives at a CAGR of 4.7% during the forecast period.
5. Based on the fuel type, the CNG segment leads the market as it held a significant share of 78.5% in 2022.
6. Based on the vehicle type, the passenger cars segment leads the market as it held a prominent market share of 39.2% in 2022.

 

Competitive Landscape

The key vendors focus on increasing efficiency, prices, power, and mileage. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

 

Key Players Profiled in the CNG and LPG Vehicles Market

• GAILIndia Ltd.
• Fiat Group
• General Motors Group
• Renault
• Hyundai
• Suzuki
• Ford
• Volkswagen

Key Innovation

• GAILIndia Ltd. has been accredited with authorized economic operator (AEO) T3 status.
• Volkswagen has introduced its new Tiguan Lx- CNG-3 version in India with silver accent on steering wheel. The car also has driver-side airbag and reverse parking sensors.

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Key Segments Covered

By Fuel Type:

• CNG
• LPG

By Vehicles Type:

• Passenger
• Light Commercial
• Medium commercial
• Heavy Commercial

Key Regions Covered:

• North America
  • The United States
  • Canada
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Europe
  • Germany
  • The United Kingdom
  • France
  • Spain
  • Russia
  • Rest of Europe
• Japan

 

About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
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The automotive wiper blades market is projected to be valued at US$ 4,953.9 million in 2023 and is expected to rise to US$ 8,788.3 million by 2033. The sales of automotive wiper blades are expected to register a significant CAGR of 5.9% during the forecast period.

Automotive wiper blades are crucial in ensuring clear visibility for drivers, especially during adverse weather conditions. These essential components are designed to remove rain, snow, dirt, and debris from the windshield, enhancing safety and driving comfort. The automotive wiper blades industry encompasses the production, distribution, and sales of wiper blades for various vehicles, including passenger cars, commercial vehicles, and motorcycles.

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The market has experienced steady growth over the years, primarily driven by the increasing global vehicle production and the growing demand for passenger cars. As more vehicles are manufactured and sold, there is a parallel need for replacement wiper blades, leading to a surge in the market’s demand. Additionally, regulations regarding road safety and visibility standards have also contributed to the market’s growth as vehicle manufacturers strive to comply with these requirements.

Another significant trend in the market is the increasing adoption of advanced features, such as rain-sensing wipers and heated wiper blades. Rain-sensing wipers automatically activate when raindrops are detected on the windshield, enhancing convenience for the driver. Heated wiper blades help prevent ice and snow buildup on the blades, ensuring efficient and uninterrupted wiping even in extreme weather conditions. These advanced features have gained popularity among vehicle owners, contributing to the market’s growth.

Beam wiper blades are the top-selling product type in the global market. Their sales are expected to record a CAGR of 6.7% during the forecast period. Drivers prefer beam wiper blades due to their curved shape, infinite pressure points, streamlined design, reduced size, and compatibility with various vehicle types.

The market for rear wiper blades is expanding rapidly, with a projected CAGR of 7.0%. This growth is driven by the increasing production of vehicles equipped with rear wipers. Safety concerns and the inclusion of rear wipers as standard features in hatchbacks and small SUVs contribute to the demand for rear wiper blades.

 

Passenger cars generate the majority of global market demand. The passenger cars segment is expected to reach a valuation of over US$ 2.7 billion by 2033. Rising production and sales of passenger vehicles, particularly compact cars, drive the demand for wiper blades.

The United States is an attractive market for automotive wiper blades in North America. It held around 17.9% of the market share in 2022. The growth in the United States market is fueled by increased vehicle production, technological advancements in wiper systems, and the popularity of SUVs.

China’s automotive wiper blades market is projected to thrive at a CAGR of 6.1%, creating incremental opportunities of US$ 1.1 billion by 2033. The booming automotive industry, the availability of affordable wiper blades, and numerous automotive parts manufacturers drive market growth.

Germany’s automotive wiper blades market is expected to register a moderate CAGR of 5.4%. Germany’s strong motor industry, engineering skills, and reputation for innovation in wiper systems drive market growth.

Key Companies Profiled In Automotive Wiper Blades Market

1. Denso Corporation

1. Valeo SA
2. TRICO Products Corp.
3. Robert Bosch GmbH
4. Continental AG
5. HEYNER GmbH
6. Doga SA
7. ITW
8. Hella KGaA Hueck & Co.
9. Tokai Riki Co. Ltd.
10. Xiong Shun Automobile Material Co. Ltd.
11. Pilot Automotive
12. Fu-Gang Co. Ltd.
13. PSV Wipers Limited
14. ACDelco
15. Cap Co. Ltd. (CAPCO)
16. WEXCO Industries Inc.
17. Tex Automotive Ltd
18. Syndicate Wiper Systems (P) Ltd.
19. Michelin Group
20. Korea Wiper Blade
21. KB Wiper Systems

 

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Recent Development

• Nippon Wiper Blade and Asahi Manufacturing Co. Ltd, both subsidiaries of DENSO Corporation, merged in July 2019 to form DENSO Wiper Systems, Inc. This well-known brand steps forward to provide safer and more dependable wiper systems.
• Robert Bosch GmbH created a new smartphone app to look for matching wiper blades in June 2017. The app is compatible with iOS and Android smartphones. This software is available in over 15 languages and includes online and offline search capabilities.

Key Segments Covered in the Automotive Wiper Blades Industry Report

By Wiper Blades Type:

• Soft Top
• Hard Top

By Material:

• Foam-backed Cloth
• Cotton-napped Cloth
• Synthetic Cloth
• Perforated Cloth

By Vehicle Type:

• Passenger Car
• Light Commercial Vehicle
• Heavy Commercial Vehicle

By Sales Channel:

• Hard Top
• Soft Top

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific Excluding Japan (APEJ)
• Japan
• The Middle East & Africa (MEA)

 

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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The automotive ECU market is expected to record a CAGR of 4.7% during the forecast period. The market is anticipated to cross a market share of US$ 22.8 billion by 2033, while it holds a revenue of US$ 14.4 billion in 2023.

The demand for automotive ECU rises with the increasing safety norms, rising sales of passenger cars, and increasing per capita income. Furthermore, the business growth of the automotive industry has also pushed vendors to adopt ECU systems for the advanced vehicles. The advent of AI and Machine Learning and its integration with ECU circuits delivers ease to the passenger and gives access to a wide number of applications from cooling to engine and cruise control.

Connecting the car control system to the smartphone with the help of an app that enhances the driving experience along with the ECU connect interface. The improved ECUs have also expanded the market.

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Key Points

The Chinese market for automotive ECU holds the biggest market share and is expected to cross the biggest anticipated values of US$ 5.7 Bn by 2033 with a CAGR of 5.4%. The growth rate is rising for the Chinese market as the market thrived at a lower CAGR of 3.0% between 2017 and 2022.

The Indian market for automotive ECU thrives at the highest CAGR of 6.6% during the forecast period while expecting revenue of US$ 895.9 Mn by 2033. The regional market flourished at an extremely lower CAGR of 0.7% during the previous forecast period.

The research report of FMI states that the gasoline ECU segment continues to lead the product type category with a CAGR of 5.3% between 2023 and 2033. The growth is attributed to the higher number of passenger car sales.

Based on the sales channel, the OEM segment thrives at a CAGR of 5.7% between 2023 and 2033 due to the higher amount of customer trust and better implementation.

Competitive Landscape

The major players in the automotive ECU market focus on creating machines and software that save a higher amount of fuel and provide a healthy equation to the engine. Automotive ECU manufacturers are setting up collaborations with other companies and launching new products in the ECU market.

The market has been described as consolidated. Some of the leading market participants included in this report are:

Continental AG, Denso Corporation, Garmin Ltd., Harman International, Infineon Technologies AG, Robert Bosch GmbH, Delphi Technologies, Mitsubishi Electric Corporation, Johnson Electric Holdings Limited, Texas Instruments Incorporated, Panasonic, Aptiv, Verizon, Intel Corporation, Renesas Electronics Corporation, Microsoft Corporation, Kontron AG, ARM Limited, Fujitsu Limited, Microchip Technology Inc., Xilinx, STMicroelectronics, Sierra Wireless,, Zhuhai ENPOWER Electric Co., Intellias Ltd,, HYUNDAI MOBIS, Lear, Hitachi Astemo, Ltd., Marelli Holdings Co., Ltd., BorgWarner Inc.

For instance:

• In October 2021, BorgWarner Inc. purchased Delphi Technologies. BorgWarner’s power electronic products, and electronic control unit will be strengthened as a result of the acquisition.
• In February 2021, Magna announced to launch of the 3D surround view with next-generation cameras and automotive electronic control units. Driver assistance technology is mainly installed in high-end models. Now, it will be available starting with the model year 2022 and expanding across multiple customers and vehicle platforms.
• In January 2021, Panasonic, plans to integrate its latest advances in optics, volume optimization, and imaging technology with A.I. from its SPYDR domain controller. Further, this renders near-filed and far-field content for vehicle information, object and pedestrian detection, and mapping for a more seamless experience for the driver.

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Key Segments

By Product Type:

• Gasoline ECU
• Diesel ECU
• Natural Gas ECU

By Vehicle Type:

• Passenger Vehicle
• Light Commercial Vehicle
• Heavy Vehicle

By Sales Channel:

• OEM
• Aftermarket

By Region:

• North America
• Latin America
• Europe
• Asia-Pacific
• Middle East & Africa

About Future Market Insights (FMI) 

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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