Wiper Systems: A Global Strategic Business Report
San Jose, California (PRWEB) March 20, 2015
Follow us on LinkedIn –Beginning from 1917 when the first windshield wiper system was commercially made available for slotted two-piece windshields, wiper systems today have evolved radically. The 1920s witnessed the introduction of automatic vacuum wiper systems, which remained widely popular through the 1950s and 1960s until the commercialization of motorized wiper systems in 1963 that went on to be used in millions of vehicles until the 1970s. The modern variable speed automatic wiper systems installed in most vehicles today are technologically superior to their processors systems. Technological advancements, over the years, have turned wiper systems into sophisticated products, offering compelling benefits such as, durability, superior design, ease of installation and usage comfort.
A standard fitment in all manufactured motor vehicles, growth in the OEM market is driven by automotive production trends, which in turn is highly reliant on prevailing economic conditions and demand for new vehicles. The economic slowdown in developed markets which squeezed demand for new automobiles and hurt production activity in the years 2012 & 2013 had a cascading impact on OEM wiper systems market during the period. Impact of Euro debt crisis, stagnation in the Japanese economy due to weaker consumer spending, and slowdown of manufacturing activity due to low consumer demand for goods and higher energy import costs hurt the automotive industry during the year 2013. The weak automotive industry squeezed new orders for OEM wiper systems during the year.
Future growth in the market will come from incremental improvements in product performance coupled with developments in aerodynamic designs, noiseless functioning, and superior styling.
As stated by the new market research report on Wiper Systems, Asia-Pacific represents the largest and the fastest growing regional market, with sales waxing at a CAGR of 6.6% over the analysis period. China and India will continue to be growth engines in the region in the short to medium term period, owing to the huge demand for passenger cars. Growth in GDP, rising employment levels, improving standard of living, increase in discretionary income, and development of road infrastructures, all represent the broader economic variables driving automobile demand and production in the region.
Major players in the market include ASMO Co. Ltd., Denso Corporation, DOGA S.A, Federal-Mogul Corporation, Mitsuba Corporation, PMP Auto Components Pvt. Ltd, Robert Bosch GmbH, Trico Products Corporation, Valeo S.A., and WEXCO Industries Inc., 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, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, South Korea, and Rest of Asia-Pacific), Middle East/Africa and Latin America (Brazil, Mexico, and Rest of Latin America). Market estimates and Projections for ‘Wiper Systems’ in this report is limited only to the OEM segment.
For more details about this comprehensive market research report, please click here
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 1500+ 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.
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