Global Wiper Systems Market to Reach US$6.8 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on wiper systems market. Although the prolonged severity of the economic slowdown and depressed automotive industry have elicited decline in sales of wiper systems, the market is nevertheless expected to recover poise in the medium-to-long term period to reach US$6.8 billion by 2015. While growth in the OEM segment will be driven by increase in automobile production, as a result of post recession resurgence in consumer demand for new cars, growth in the aftermarket segment will be driven by increase in average life of vehicles and the resulting need for replacement of worn-out wiper systems. Rising demand for new vehicles in developing nations, particularly Asia-Pacific also augur well for the market.

Wiper Systems: A Global Strategic Business Report

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 is 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 vehicle’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 has 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.

With vehicle sales nose-diving, shockwaves that ripped through the automobile industry was faithfully transmitted to the auto parts, components and accessories markets. The trickle down impact of the depressing business climate in the automobile industry on the wiper systems market, is reflected in the decline in the market’s growth rates during 2008 & 2009. The unusually pronounced length, depth and magnitude of the current recession sent ripples of unrest across the entire automotive sector, including the market for wiper systems, which represent one of the most important components of an automobile. All of the factors, which brought down the automobile industry, also played instrumental roles in dragging down growth in the wiper systems segment of the auto industry.

Sales of wiper systems to OEM segment in particular recorded hurting declines in sync with the dip in auto production and sales. The aftermarket segment, which although fared better in comparison to the OEM market, witnessed considerable slowing of market growth. The saving grace for the aftermarket has been the fact that wiper systems are less discretionary spends and their timely replacement is critical to ensure optimum visibility, safety and comfort. Though resilient to a certain degree, the aftermarket segment is however not completely recession proof. The market therefore witnessed its fair share of delays, cancellation and postponement of purchases, and preference for repair as against replacement. Also, against a fiscal climate strained by deficit, replacements of complete wiper systems ebbed as customers settled for replacement of just worn out components, such as, wiper blades, wiper motors, and wiper arm, among others. Business opportunities in the aftermarket stemming from preventive maintenance turned sluggish as the economic stress resulted in consumers stretching preventative maintenance schedules until real need.

However, with recession now having played out its part in full proportions and the automobile industry having hitting rock bottom, the worst is now over and a rebound is seen as inevitable. A quick resurgence in growth fundamentals, post recession, such as recovery in GDP growth, employment rates, incomes levels and discretionary incomes, and rise in consumer confidence, will help drive increased demand for new cars and commercial vehicles over the next few years. Stimulus packages offered will additionally drive increased vehicle production and scheduled development and roll out of new vehicle models, including alternative vehicles. All of these factors translate into increased business opportunities for wiper systems, especially in the OEM segment. Concurrently, factors such as increase in the number of vehicle miles traveled and a parallel increase in the wear and tear of auto-parts will drive the wiper systems market in the aftermarket segment in the post recession era. Additionally, the decline in retail sales of new vehicle sales witnessed during the years 2008 and 2009 will result in a sharp reduction in the number of cars/vehicles covered within manufacturers' warranty periods thus promising to create increased demand for aftermarket part replacements during the post recession period.

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 6.7% over the analysis period. Growth in this market is essentially driven by the persistent rise in automobile sales, particularly in developing markets such as China and India. By end-use, aftermarket segment represents the largest market for wiper systems. The market in the OEM segment is projected to grow at a CAGR of 1.9% over the analysis period.

Major players in the marketplace include CARDONE Industries, Inc., Denso Corporation, Federal-Mogul Corporation, JAMAK Global Wipers, Robert Bosch GmbH, Trico Products Corporation, and Valeo S.A., among others.

The research report titled “Wiper Systems: A Global Strategic Business Report” 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 –
http://www.strategyr.com/Wiper_Systems_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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