Pune India, Jan. 21, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the Automotive Washer System Market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the Automotive Washer System Market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the vehicle type, sales channel, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Automotive Washer System Market are Robert Bosch GmbH, Trico Products Corporation, Kautex Textron GmbH & Co. KG, Denso Corporation, Valeo SA, Mergon Group, Continental AG, Mitsuba Corporation, Ningbo Joyson Electronic Corp, and HELLA KGaA Hueck & Co. among others. To achieve a substantial market share in the worldwide Automotive Washer System Market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Vehicle production and sales are among the factors driving the automotive washer system market across the globe. Additionally, during the forecast period, the automotive washer system market is expected to grow due to the growth of the transportation industry and the increasing demand for light commercial vehicles. In order to reduce the risk of an accident, the automotive washer system plays a crucial role in the vehicle safety system by providing good visibility of other moving cars. It is a basic safety system included in every vehicle. This system is made up of several components: nozzles, reservoirs, hoses & connectors, pumps, windshield wipers, and wiper motors, which work together to remove dirt and water from the windshield. It is expected that the automotive washer system market will grow during the forecast period due to the increasing production and sales of cars around the world. Additionally, the growing urban population density has accompanied the growing adoption of fuel-efficient automobiles, resulting in significant increases in global automotive production. There are some factors which are hampering the growth of the market such as periodic replacements and additional costs associated with automotive washers.
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Scope of Automotive Washer System Market Report:
|Market Share Unit||USD Billion|
|Segments Covered||Vehicle Type, Sales Channel, and Regions.|
|Regions Covered||North America, Europe, Asia-Pacific, South America, and Middle-East and Africa|
|Major Players||Robert Bosch GmbH, Trico Products Corporation, Kautex Textron GmbH & Co. KG, Denso Corporation, Valeo SA, Mergon Group, Continental AG, Mitsuba Corporation, Ningbo Joyson Electronic Corp, and HELLA KGaA Hueck & Co. among others|
PC is expected to be the fastest-growing segment in 2022.
The vehicle type segment is an LCV, HCV, and PC. The PC segment is expected to witness the highest growth rate during the forecast period. The passenger vehicle category currently dominates the global market due to an increase in middle-class populations and an increasing level of disposable income. There were 13 of 52 markets experiencing double-digit growth, including Russia, Argentina, and Thailand, offsetting slight declines in key markets like the UK, US, South Korea, and Mexico.
Aftermarket is expected to be the fastest-growing segment in 2022.
The sales channel segment is aftermarket and OEM. The aftermarket segment is expected to witness the highest growth rate during the forecast period. Automobile components have a maximum lifespan and are heavily dependent on usage. Additionally, wipers, blades, pumps, and nozzles in washer systems must be replaced according to the type of driving. It has been observed that the aftermarket will play an important role in the growth of the market.
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the Automotive Washer System Market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. With rising vehicle production and sales, a strong presence of major manufacturers, increasing demand for high-end vehicles, increased research activities, and increased investments in product development, the automotive washing system market has enticing potential in the region and is boosting market growth.
Germany’s Automotive Washer System Market size was valued at USD 1.59 billion in 2022 and is expected to reach USD 2.45 billion by 2030, at a CAGR of 5.6% from 2023 to 2030.
It is expected that Germany will be the fastest-growing region during the forecast period, as consumers in the country prefer not to visit car washes. Moreover, Germany is the hub of the automobile industry, creating more opportunities for market growth.
China’s Automotive Washer System Market size was valued at USD 1.73 billion in 2022 and is expected to reach USD 2.7 billion by 2030, at a CAGR of 5.9% from 2023 to 2030.
There are numerous factors contributing to China’s growth, such as its highly developed tourism sector, an increase in private healthcare providers, and competitive treatment costs.
India’s Automotive Washer System Market size was valued at USD 1.33 billion in 2022 and is expected to reach USD 2.08 billion by 2030, at a CAGR of 5.8% from 2023 to 2030.
A growing economy, improved standard of living, increased vehicle production, and an increase in exports of vehicles have all contributed to the region dominating the automotive windshield washer system market.
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising awareness about vehicle safety.
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