The global Wiper Blade market is expected to witness a market value of US$ 9.6 Billion in 2023 and is expected to accumulate a market value of US$ 13.2 Billion by registering a CAGR of 3.2% in the forecast period 2023 to 2033. The Wiper Blade market registered a CAGR of 2.0% in the historical period 2018 to 2022. Factors such as increasing demand for wiper blades in the automotive sector, as well as growing focus on driver safety and comfort, are expected to boost the market growth over the analysis period.
As per Future Market Insights - market research and competitive intelligence provider, the global market value for Wiper Blade has been flourished. One of the major factors that is expected to accelerate the market growth includes increasing demand for automobiles. The automotive industry is witnessing steady growth worldwide, and this is expected to drive the demand for wiper blades. With the increasing number of vehicles on the road, the demand for wiper blades for replacement and maintenance purposes is expected to grow.
Another factor that is anticipated to escalate the market growth is the growing awareness about vehicle safety. Wiper blades play a crucial role in ensuring visibility during harsh weather conditions, such as rain and snow, and this is driving the demand for high-quality wiper blades that offer better performance and durability. Manufacturers in the market are focusing on producing wiper blades that offer improved wiping performance, durability, and resistance to harsh weather conditions, which in turn, is expected to drive the demand for these products.
Furthermore, the rising adoption of advanced technologies is one of the major factors that is likely to stimulate the market growth in the near future. With the increasing adoption of electric and hybrid vehicles, there is a growing demand for wiper blades that are specifically designed for these vehicles. Manufacturers in the market are investing in research and development to produce wiper blades that cater to the changing needs of the automotive industry.
Additionally, the increasing focus on sustainability and eco-friendliness is expected to create new opportunities for the market growth. Manufacturers in the market are focusing on producing wiper blades that are made from eco-friendly materials and are recyclable, which is projected to augment the demand for these products.
In addition to these factors, the growth of the aftermarket segment is also expected to fuel the market growth. As vehicles age, the demand for replacement wiper blades is expected to increase, which is driving the growth of the aftermarket segment.
On the regional end, the Wiper Blade market in North America is expected to account for the maximum share during the analysis period. One of the major trends in the North American wiper blade market is the increasing demand for advanced wiper blades that offer better performance and durability. With the increasing awareness about vehicle safety, consumers in the region are looking for high-quality wiper blades that can withstand harsh weather conditions and ensure clear visibility while driving. As a result, manufacturers in the market are investing in research and development to produce wiper blades that offer improved wiping performance and durability.
On the other hand, the Wiper Blade Market in Europe is witnessing significant growth in recent years, driven by factors such as the increasing demand for automobiles, growing awareness about vehicle safety, and the rising adoption of advanced technologies in the region.
Recent developments in the technology, mergers and acquisitions, and partnerships within the companies involved in the designing of Wiper Blade are expected to create lucrative opportunities for the market growth over the analysis period.
For instance, in August 2021, Bosch announced the launch of a new range of high-performance wiper blades called 'Icon Beam Wiper Blades.' These wiper blades offer a superior wiping performance and durability, making them ideal for use in all weather conditions.
Subsequently, in May 2021, Valeo announced the launch of a new range of 'Silencio X.Trm' wiper blades. These wiper blades feature advanced aerodynamic design and a unique rubber compound, offering a superior wiping performance and durability.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 9.6 Billion |
| Projected Market Value in 2033 | US$ 13.2 Billion |
| Growth Rate (2023 to 2033) | 3.2% CAGR |
Increased demand for vehicles and the introduction of rear wipers in new range of vehicles is projected to boost the market.
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During the forecast period, the market is predicted to increase due to rising global demand and production of passenger automobiles. As a result, some of the most important developments by market players have been to consolidate existing market positions and seek out new niche opportunities.
The global increase in automotive production and sales has been a major driver of the wiper blades market. Wipers travel back and forth in a pendulum motion in an automobile's front and rear windshields to remove debris, water and snow. Furthermore, in areas where the weather is very severe, even the headlamps are equipped with wiper blades.
The increasing average age of passenger cars is expected to result in higher use of wiper blade in the following decade. Wipers have a short lifespan, therefore the longer a vehicle is on the road, the more frequently the wipers will be replaced, creating a huge replacement market opportunity.
New technologies, including as water cleaning and dust removal, are being developed in the wiper blade industry to reduce noise and boost wiper performance. Increased vehicle demand and increased demand for high technology wipers, such as rain detecting wiper systems, are two significant drivers of this industry.
Many jurisdictions have legislation requiring the installation of windscreen wipers on autos. Windshield wipers may be a required safety equipment in some vehicle inspections. For autos, some states in the United States have a 'wipers on, lights on' rule.
Windshield wipers are required by law on all cars to keep snow, rain, and other moisture from obscuring the windshield. This means that the windshield wipers in question must be in excellent operating order to complete the duty of cleaning the windows. The wiper blade demand will be driven by these reasons.
The USA is expected to be one of the most promising market throughout the projected period, owing to an increase in vehicle production and the presence of prominent manufacturers in the region.
Manufacturers in the USA are focusing on technological breakthroughs for new product invention or updating existing wipers, which is also one of the main drivers of market growth.
The wiper blade aftermarket in North America is seeing a dramatic shift in demand from conventional to beam and hybrid solutions, presenting considerable growth opportunities for suppliers who can effectively position their goods with distributors and consumers.
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Europe is expected to be second largest market for wiper blade. Europe is well-known for its world-class motor industry and engineering skill. From Asia to the Americas, European automobiles especially those from Italy and Germany are known for their innovation, dependability, safety, and aesthetics.
With respect to country wise market, Germany is Europe's largest production and sales market by a fair margin.
The Europe market is expected to develop due to the region's strong automotive production base. Additionally, the increase in the number of new light commercial vehicle registrations is expected to contribute to market growth. Additionally, numerous top e-commerce organizations are using light commercial trucks to provide better and faster transportation services to consumers, which is another significant factor expected to drive market expansion.
Some of the leading manufacturers and suppliers include
To keep up with the severe competition, small businesses must increase their financial investments, technology, and even brand influence.
Manufacturers are focusing on the performance of the automotive wiper blade as a result of the increased emphasis on safety features, which is projected to drive sales of automotive wipers over the forecast period.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Wiper Blade Market
