Wiper Motor Aftermarket Market value projected to expand by 2025
Wiper system is driven by the wiper motor. Wiper system are used for clear visibility in case the vehicle is faces adverse weather conditions such as snowfall or rainfall. Persistent use of a wiper system leads to wear and tear of the motor, which leads to demand for wiper motor in aftermarket. Wiper motor aftermarket market is expected to expand at a significant growth rate, owing to increasing demand for automotive across the globe.
Global Wiper Motor Aftermarket Market Dynamics:
The growth of the global wiper motor aftermarket market is driven by growing automotive industry and the need of replacement of the wiper motor as a result of continuous use of wiper system. Macroeconomic factors such as growing economy, rising disposable income, and rapid rate of urbanization as well as industrialization also driving the global wiper motor aftermarket market. Integration of value chain, increasing automation, and technological advancement are some of the factors trending the global wiper motor aftermarket market over the forecast period.
Global Wiper Motor Aftermarket Market Segmentation:
The global wiper motor aftermarket market is segmented by vehicle type, distribution channel, and region. By vehicle type, the global wiper motor aftermarket market segmented into commercial vehicle and passenger cars. Among these, the passenger segment is growing at a substantial value CAGR in global wiper motor aftermarket market whereas commercial segment accounts for relatively high revenue share the forecast period.
On the basis of distribution channel, the global wiper motor aftermarket market segmented into wholesalers and distributors, component part manufacturer sales, specialists repairers and suppliers, franchised dealers, independent garages, and other supplier. Among these, the wholesalers and distributors segment account for relatively high revenue share in global wiper motor aftermarket market followed by component part manufacturer sales segment over the forecast period. Whereas, franchised dealers is expected to expand at relatively high growth rate.
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On the basis of vehicle type, the global wiper motor aftermarket market is segmented into:
Heavy Motor Vehicle
Light Motor Vehicle
On the basis of distribution channel, the global wiper motor aftermarket market is segmented into:
Wholesalers and Distributors
Component Part Manufacturers Sales
Specialists Repairers and Suppliers
Global Wiper Motor Aftermarket Market Regional Outlook:
On the basis of geographies, the global wiper motor aftermarket market is segmented into seven regions -- North America, Western Europe, Eastern Europe, Japan, Asia-Pacific except Japan, Latin America, and the Middle East & Africa. Among the regions, Western Europe account for a relatively high share of the global wiper motor aftermarket market in terms of value, attributed to relatively high revenue share in global automotive market. North America is followed by Western Europe in global wiper motor aftermarket market, owing to high demand for passenger cars across the region. Eastern Europe and Japan also accounts for significant value share in the global wiper motor aftermarket market, owing to high technological advancement and high demand for premium vehicles across the regions.
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The Asia-Pacific is expected to register relatively high growth rate in the global wiper motor aftermarket market over the forecast period, owing to rapid rate of advancement in automotive industry across the region. Latin America and Middle East Africa is expected to have relatively high opportunity for wiper motor aftermarket market players, attributed to growing economy and industrialization. Overall, the outlook for the global wiper motor aftermarket market will have a positive growth over the forecast period.
Global Wiper Motor Aftermarket Market Player:
Few players in the global wiper motor aftermarket market include WAI Global, DOGA Automotive, Magneti Marelli, Robert Bosch GmbH, and Valeo S.A.
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