Automotive Wiper Component Aftermarket

Automotive Wiper Component Aftermarket

Global Automotive Wiper Component Aftermarket Market to Reach US$14.8 Billion by 2030

The global market for Automotive Wiper Component Aftermarket estimated at US$11.5 Billion in the year 2023, is expected to reach US$14.8 Billion by 2030, growing at a CAGR of 3.7% over the analysis period 2023-2030. Wiper Blade, one of the segments analyzed in the report, is expected to record a 3.9% CAGR and reach US$6.5 Billion by the end of the analysis period. Growth in the Wiper Motor segment is estimated at 2.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$3.0 Billion While China is Forecast to Grow at 6.3% CAGR

The Automotive Wiper Component Aftermarket market in the U.S. is estimated at US$3.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.3 Billion by the year 2030 trailing a CAGR of 6.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.2% and 2.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.8% CAGR.

Global Automotive Wiper Component Aftermarket - Key Trends & Drivers Summarized

Why Is the Automotive Wiper Component Aftermarket Growing Steadily?

The automotive wiper component aftermarket is witnessing steady growth, fueled primarily by increasing vehicle ownership and the frequent need for wiper replacements due to wear and tear. Windshield wipers are essential safety components, ensuring clear visibility during adverse weather conditions such as rain, snow, or dust storms. As awareness about the importance of regular vehicle maintenance grows, more consumers are opting to replace worn-out wiper components to maintain optimum visibility and safety. The growth of the automotive aftermarket in general, driven by increased vehicle longevity and a rise in do-it-yourself (DIY) maintenance culture, has also bolstered the demand for wiper components.

How Are Technological Developments Impacting the Wiper Component Aftermarket?

Technological advancements are significantly influencing the automotive wiper component aftermarket, particularly in terms of material durability and design. Innovations in wiper blade materials, such as advanced rubber compounds and silicone, have enhanced the durability of wipers, ensuring better performance under extreme weather conditions and longer replacement cycles. Hybrid wiper blades, which combine the best features of conventional and beam blades, are gaining popularity due to their superior wiping performance and durability. The development of sensor-equipped wiper systems that adjust their speed automatically based on the intensity of rain has also influenced aftermarket trends, leading to an increased demand for more technologically sophisticated replacement parts.

How Are Consumer Preferences Shaping the Wiper Component Aftermarket?

Consumer preferences for quality and performance are driving changes in the automotive wiper component aftermarket. As consumers become more aware of the role of wiper blades in ensuring road safety, there is a growing preference for premium products that offer better durability and superior wiping performance. The increased focus on vehicle personalization has also led to higher demand for wiper blades in different colors and styles, allowing consumers to customize their vehicles. Furthermore, the rise of DIY maintenance, supported by easy access to online tutorials and affordable tools, has increased consumer participation in regular wiper maintenance and replacement, driving sales in the aftermarket segment.

The Growth in the Automotive Wiper Component Aftermarket Is Driven by Several Factors.

The growth in the automotive wiper component aftermarket is driven by several factors, including the increasing vehicle ownership and aging vehicle fleet, which necessitates frequent replacement of consumable components such as wiper blades. Technological advancements in wiper design and materials have improved blade durability, leading to higher consumer interest in premium, high-performance products. Growing consumer awareness regarding vehicle safety, particularly concerning the importance of visibility during adverse weather, has also boosted the demand for high-quality wiper components. Additionally, the rise in DIY vehicle maintenance culture, supported by the availability of wiper blades through online retail channels, is significantly contributing to aftermarket growth.

Select Competitors (Total 42 Featured) -

• AM Equipment
• B. Hepworth and Co., Ltd.
• Denso Corporation
• DOGA SA
• Federal-Mogul Motorparts LLC
• HELLA GmbH & Co. KGaA
• Magneti Marelli SpA
• Mitsuba Corporation
• Nippon Wiper Blade Co. Ltd.
• Pilot Automotive
• Robert Bosch GmbH
• Valeo SA

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