The global Wiper Motor Aftermarket is expected to witness significant growth over the forecast period. A windscreen wiper or windshield wiper is a device that is used to provide clear visibility during adverse weather conditions. A wiper typically consists of a metal arm, pivoted at one end, and a long rubber blade attached to the other. The arm is powered by a wiper motor which swings the blade back & forth over the glass. The speed of the wiper arm is normally adjusted through intermittent settings.
The wiper motor is a crucial component that regulates the wiper system in vehicles. Wiper systems are used in scenarios in which the vehicle is subjected to terrible weather conditions such as snowfall or rainfall. Therefore, the continuous usage of the wiper system results in wear & tear of the motor which would then need to have replaced. Thus, the replacement of the wiper motor is needed in case of adverse conditions that drive the market.
The market driving factors for the global wiper motor aftermarket includes the growing usage of wipers in vehicles. Countries with bad weather conditions are favorable regions for wipers and wiper motor. Vehicle age is another factor that adds to the market. Older vehicles need replacement of parts & components due to their excessive use. Thus, the heavy number of older vehicles also adds to the market.
On the basis of vehicle type, this market is segmented as passenger cars and commercial vehicles.
The passenger car segment is anticipated to drive the market for forecast period owing to clear visibility in adverse weather conditions and it must be in working conditions at all times to have a clear view during adverse weather conditions.
On the basis of geographic segmentation, the global market includes North America, Europe, Asia-Oceania, and Middle East & Africa.
The Asia-Oceania market for wiper motor aftermarket is projected to grow at a higher CAGR for the forecast period owing to a rise in awareness about vehicle safety.
Europe is estimated to lead the market owing to the potential increase in vehicle sales in the upcoming future. European markets are mainly driven by the need for regular maintenance which widens the target audience.
Standard Motor Products Inc, (SMP) announces the addition of new part numbers to its standard as well as inter motor lines. The company continues to expand its variable valve timing components by showcasing 56VVT solenoids and 6VVT sprockets. The company augments its coverage for its switch and sensor components. The new part numbers include cruise control, hazard winning, headlight, ignition push button, toggle & windshield wiper switches.
The key players in the global market include Valeo S.A., DOGA Automotive Robert Bosch GmbH, Magneti Marelli, and WAI Global.
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The automotive & transportation industry is amongst the most exposed verticals to the ongoing COVID-19 outbreak and is currently amidst unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. The industry's concern has moved on from being centered on supply chain disruption from China to the overall slump in demand for automotive products. The demand for commercial vehicles is expected to plummet with the shutdown of all non-essential services. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. Meanwhile, liquidity shortfall and cash crunch have already impacted the sales of fleet operators, which is further expected to widen over the next few months. We are continuously monitoring the COVID-19 pandemic, and assessing its impact on the growth of the automotive & transportation industry. The report will account for Covid19 as a key market contributor.