Market Analysis: Global Wiper Motor Aftermarket Market
Global wiper motor aftermarket market is expected to rise to an estimated value of USD 3.42 billion by 2026 registering a steady CAGR in the forecast period of 2019-2026. This rise in the market can be attributed to the rising use of wiper systems and the rising number of vehicles on the road.
Market Definition: Global Wiper Motor Aftermarket Market
A wiper motor is an electromechanical component that is an essential part of the wiper system. The wiper motor drives the metal arm of the wiper system, moving it back and forth sweeping the rain, snow, ice and debris from a vehicle's windshields such that the driver has a clear, unobstructed visibility of the road.
- Rising awareness about vehicle safety would enhance the growth of the wiper motor aftermarket
- Improving economic conditions and increase in the disposable income, leads to increased demand for vehicles which in turn drive this market
- As the age of the vehicles increases, the demand to replace existing components also increases, thereby resulting in increased demand for aftermarket products
- Low profits arising due to highly competitive and unorganised market restrains the growth of this market
Segmentation: Global Wiper Motor Aftermarket Market
By Distribution Channel
- Franchised Dealers
- Wholesalers and Distributors
- Component Part Manufacturers Sales
- Independent Garages
- Specialists Repairers and Suppliers
By Vehicle Type
- Commercial Vehicles
- Passenger Vehicles
By Product Type
- Stepper Motors
- Brush and Brushless DC Motors
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Key Developments in the Market:
- In May 2019, CK Holdings Co., Ltd acquired the business of Magneti Marelli S.p.A from Fiat Chrysler Automobiles N.V. The two companies would operate under a common name of “Magneti Marelli CK Holdings Co., Ltd.” With this acquisition, Magneti would soon become a leading global independent automotive supplier, expanding its product portfolio and its financial strength.
- In June 2018, WAI has entered into an affirmative agreement of distribution with Marathon Warehouse Distribution for supplying its products including starters, alternators and window regulators amongst others to U.K. market. This agreement has been taken to ensure WAI products are available to the customers immediately, in a one-day delivery period. The rise in the distribution of automotive parts would eventually benefit automotive wiper motor global market in the long run.
Competitive Analysis: Global Wiper Motor Aftermarket Market
Global wiper motor aftermarket market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of wiper motor aftermarket market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Wiper Motor Aftermarket Market
Few of the major competitors currently working in the wiper motor aftermarket market are Valeo, Robert Bosch GmbH, Magneti Marelli S.p.A., DOGA, SA, DENSO CORPORATION., MABUCHI MOTOR CO., LTD., Lear Corporation, Magna International Inc., General Motors, NTN Corporation, Ford Motor Company, Gates Corporation, CARDONE Industries, Johnson Electric Holdings Limited, TRICO among others.
Research Methodology: Global Wiper Motor Aftermarket Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved