An Incisive, In-depth Analysis on the Automotive Washer Systems Market
This study offers a comprehensive, 360 degree analysis on the Automotive Washer Systems market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Automotive Washer Systems market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Automotive washer system is an important part of vehicle safety system and ensures clear vision of other vehicles on road so as to avoid possibilities of accident. Windshield washer system is a basic safety feature available as an inbuilt feature in passenger cars, light and heavy commercial vehicles manufactured across the globe. On the other hand, headlamp washer system is more a feature of premium, luxury and SUV car segment, it ensures proper cleaning of headlamp against mud and dirt thus maintaining proper intensity of light. In some regions such as Eastern Europe, Western Europe and parts of North America, it is mandatory for vehicles using high intensity discharge (HID) headlights to deploy headlamp washer systems. The segment sales of washer systems includes all standard components found in a vehicle with headlamp washer system and windshield washer system , i.e. headlamp wash nozzle/camera wash nozzle, windshield wash nozzle, fluid reservoir, hose and connectors, wiper blade, wiper arm, windshield washer pump and front & wiper motor.
The global automotive washer system market is expected to register a value CAGR of 5.4% over the forecast period (2016–2026) and reach a value of US$ 29.6 Bn by end of 2026.
Increasing sales of new vehicles and a robust demand for washer system components in the aftermarket is fuelling the sales of automotive washer systems across the globe
The growth of the global automotive washer system market is primarily attributed to increasing sales of new vehicles and strong aftermarket demand for washer system components. The global automotive aftermarket is projected to be valued at US$ 1.2 Tn by 2020, witnessing a CAGR of 3.9% over 2016–2020.
Additional cost of new wiper technologies is anticipated to moderately hamper market growth, as customer base particularly in developing economies are reluctant to invest in newer and high priced technologies.
Some of the prominent trends assessed in the global automotive washer system market are smart integration of technologies, increasing application of rear camera washer systems, increasing adoption of headlamp washer systems in semi-luxury and mid-sized cars and advancements in wiper blade and nozzle design.
Furthermore, significant opportunities exists for washer system manufactures through expansion in developing economies. Recent vehicle recalls due to supply of faulty washer system and regulations mandating use of headlamp washer systems will create significant pressure on supply side to develop cost-efficient, durable and reliable washer systems, so as to win market share.
By Vehicle Type
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The windshield wipers segment is expected to account for a dominant volume share throughout the forecast period as they have a strong aftermarket demand
On the basis of component, windshield wipers are expected to account for a dominant volume share throughout the forecast period. Windshield wipers have significant demand from the aftermarket as it have relatively higher replacement rate. The segment is expected to register a volume CAGR of 4.4% over the forecast period. In terms of value, wiper motor segment is expected to maintain dominance throughout the forecast period. The segmented is expected to be valued at US$ 13.1 Bn by end of 2026, registering a value CAGR of 5.0% between 2016 and 2026. Pumps and reservoir segments are expected to witness a moderate CAGR growth over the forecast period.
The passenger car segment is expected to be most lucrative and create highest incremental $ opportunity over the forecast period
On the basis of vehicle type, passenger car segment is expected to be most lucrative and create highest incremental $ opportunity over the forecast period. The segment is estimated to account for 74.5% of the total revenue generated in 2016. The LCV segment is anticipated to witness relatively slower CAGR growth between 2016 and 2026 as compared to passenger car and HCV.
Headlamp washer system is anticipated to witness fast growth and register a value CAGR of 8.3% over the forecast period
On the basis of application, windshield washer system is expected to maintain dominance both in terms of value and volume over the forecast period. However, headlamp washer system is anticipated to witness faster growth and exhibit a value CAGR of 8.3% compared to 4.5% of windshield washer system, over the forecast period.
The electrical segment held 87.1% value share in 2015 and is expected to remain dominant over the forecast period
By technology, the mechanical washer system is expected to witness decline in growth rate over the forecast period. The electrical segment held 87.1% value share in 2015 and is expected to remain dominant over the forecast period.
The APEJ regional market is expected to lead the global market with an estimated share of 31.6% in 2016
The research report on automotive washer systems includes in-depth analysis of washer system market in key regions including North America, Latin America, Asia Pacific excluding Japan, Western Europe, Eastern Europe, Japan and Middle East and Africa. Asia Pacific excluding Japan is expected to lead the market with an estimated share of 31.6% in 2016 and 38.0% in 2026. However, regions such as North America is anticipate to lose significant basis point share over the forecast period owing to ongoing shift of vehicle production facilities to Brazil, Mexico and developing nations of Asia Pacific. Innovation and new product development is expected to be the key focus of major players in the Western and Eastern European region. Middle East and Africa region is expected to hold minimal share over the forecast period.
Automobile manufacturers are expected to prefer locally sourced components for economical pricing and sustainable supply
The competitive landscape section covers financials, key developments and strategies adopted by key players in the global automotive washer system market. Some of the key players are Robert Bosch GmbH, Denso Corporation, Valeo SA, Continental AG, HELLA KGaA Hueck & Co., Ningbo Joyson Electronic Corp, Mitsuba Corporation, Mergon Group, Trico Products Corporation and Kautex Textron GmbH & Co. KG.
Automobile manufacturers are expected to prefer locally sourced components for economical pricing and sustainable supply, therefore benefitting domestic washer system manufacturers. Furthermore, international players could leverage their capabilities to expand into such markets through collaborations with local players.
In the report ‘Automotive Washer System Market: Global Industry Analysis and Opportunity Assessment, 2016–2026’, Future Market Insights (FMI) examines the ‘Global Automotive Washer System’ market for the forecast period 2016–2026. The primary objective of the report is to identify opportunities in the market and present updates and insights, pertaining to various segments of the global automotive washer system market.
Scope of the research has been primarily bifurcated into types of washer systems i.e. windshield washer system and headlamp washer system. Windshield washer system is a standard safety feature available in all automotive vehicles produced across the globe, so as to provide clear visibility to the driver. Whereas, Headlamp washer system is a feature mostly available in premium and luxury vehicles such as sedans & SUVs. The segment sales of headlamp washer system includes all standard components found in a vehicle with headlamp washer system, i.e. headlamp wash nozzle/camera wash nozzle, windshield wash nozzle, fluid reservoir, hose and connectors, wiper blade, wiper arm, windshield washer pump and front & wiper motor.
To understand and assess opportunities in this market, the report is categorically divided into six sections namely, by component, by sales channel, by technology, by vehicle type, by application and by region. The report analyses automotive washer system market in terms of value (US$ Mn) and Volume (Mn units). The report begins with an overview of global automotive sales and vehicle parc, followed by automotive washer system market, appraising washer system sales in terms of value and volume, followed by FMI’s analysis of key trends, drivers, restraints and opportunities witnessed in the market. Key regulations and important issues are also included in the report to equip the client with crystal clear decision making insights. The subsequent sections analyse the automotive washer system market on the basis of component, sales channel, technology, vehicle type, application and region, and presents a forecast for the period 2016–2026.
In the final section of the report, global automotive washer system market, competitive landscape is included to provide a dashboard view of global and regional companies that manufacture and supply washer systems across prominent region. Market share has also been provided at company level, which segregate the prominent players according to their annual turnover from washer systems. The report contains company profiles of some of the major players operating in the automotive washer system market.
To deduce market size, the report considers various aspects based on secondary research. Furthermore, data points such as country-wise, technology-wise split and market split by sales channel and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue contribution by the automotive washer system market.
When developing the market forecast, the report begins with sizing the current market, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, FMI triangulates the data via different analysis based on supply side, demand side, and dynamics of the global automotive washer system market. However, quantifying the market across the abovementioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed.
It is imperative to note that in an ever-fluctuating economy, FMI not only provides forecasts in terms of CAGR, but also analyse on the basis of key parameters, such as year-on-year (Y-o-Y) growth, to understand predictability of the market and identify right opportunities.
Another key feature of this report is the analysis of the global automotive washer system market and the corresponding revenue forecast in terms of absolute dollar opportunity. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective of the automotive washer system market.
To understand key segments in terms of their growth and performance in the global automotive washer system market, Future Market Insights has developed a market attractiveness index. The resulting index will help providers identify existing market opportunities in the global automotive washer system market.
Automotive Washer Systems Market Reports - Table of Contents
1. Automotive Washer System Market: Executive Summary
17. Assumptions and Acronyms
18. Research Methodology