Global Wiper Systems Market to Reach US$7.75 Billion by 2017, According to New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Wiper Systems markets. The global market for Wiper Systems is projected to reach US$7.75 billion by the year 2017, primarily driven by increase in automotive production, especially in developing markets such as China and India, technology developments and new product innovations. Growing awareness about the need for replacing wiper blades at regular intervals and the huge untapped demand for rear wiper blades also augur well for the market.
San Jose, California (PRWEB) November 09, 2011
Follow us on LinkedIn – The importance of driver visibility cannot be undermined, given the fact that compromised and poor visibility is widely acknowledged as a prime cause for vehicle accidents across the globe. Obscured view of the road is a leading cause of auto accidents, a vast majority of which are avertable with proper precautions and vehicle maintenance. Dusty windshields are often a key reason for poor visibility in addition to inadequate vehicular lighting, and harsh weather conditions such as rain, dew, and snow. Windshields represent a critical component of a vehicleÃ¢s safety system as they offer a clear view of the road ahead. Technology innovation in auto glass has helped enhance the strength and clarity of the glass and reduce optical distractions, thus optimizing visibility. Windshield wipers are indispensable systems, as important as windshields, and represent an important area of windshield care and maintenance. For instance, while the windshield protects the driver from the wind, rain and snow, the wiper systems help clear the rain and snow from the windshield preventing blurring and clouding, to provide superior visibility. Market prospects for wiper systems have and will continue to remain encouraging, given the fact that a large percentage of the world population drive on a regular basis irrespective of the weather condition.
The global wiper systems market suffered a considerable decline in growth during 2008 and 2009 primarily due to the impact of economic recession on new vehicle sales, thereby driving down new orders from the OEM segment. Demand for wiper systems in the aftermarket segment too witnessed considerable slowing of market growth due to postponement or cancellation of aftermarket purchases. The market however staged a remarkable comeback in the year 2010 as the impact of economic recession waned down and new car sales and aftermarket purchases improved with resurgence in growth fundamentals. The market in short to medium term period will be driven by development and introduction of new products featuring superior capabilities and latest technologies. For this wiper manufacturers are already making significant investments in R&D and forming alliances with companies that develop innovative wiper technologies to make superior wiper systems. Demand in the aftermarket segment will especially be driven by growing popularity of universal fit equipment such as easy to install one-size-fits-all wiper parts, particularly wiper blades. Increasing awareness among drivers on the need for replacing wipers at regular periods will also drive the wiper systems market in the short to medium term period.
Manufacturer efforts in spreading awareness and introducing products that can alert car owners when the blade needs to replaced will especially boost market prospects further for wiper systems market. Additionally, the huge untapped market for rear wiper blade replacements, also present considerable market opportunity for wiper systems in the upcoming years.
As stated by the new market research report, Europe continues to remain the largest regional market for wiper systems. Asia-Pacific is fastest growing regional market, surging at a CAGR of about 10.6% over the analysis period. Growth in this market is essentially driven by continued increase in automotive production as a result of surging demand for new vehicles in developing markets such as China and India. By end-use, aftermarket segment represents the largest market for wiper systems.
Major players in the marketplace include CARDONE Industries, Inc., Denso Corporation, Federal-Mogul Corporation, JAMAK Global Wipers, Robert Bosch GmbH, Trico Products Corporation, Valeo S.A., among others.
The research report titled Ã¢Å“Wiper Systems: A Global Strategic Business ReportÃ¢ announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in value sales for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, & Rest of Europe), Asia-Pacific, Middle East and Latin America. End-use segments analyzed include OEM and Aftermarket.
For more details about this comprehensive market research report, please visit Ã¢“
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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