Global Wiper Motor Aftermarket Market expected to reach $ 3.42 billion Growth By

Posted by ganesha on February 6th, 2020

This Wiper Motor Aftermarket report has been prepared with the thorough market analysis carried out by a team of industry experts, dynamic analysts, skillful forecasters and well-informed researchers. This market research report is very crucial in several ways for business growth and to thrive in the market. Competitive analysis is the major feature of any market research report, and hence Wiper Motor Aftermarket report covers many points including strategic profiling of key players in the market, analyse core competencies of key players, and draw a competitive landscape for the Automotive industry. This market report gives an edge to compete and to outdo the competition.

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.

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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.

Market Drivers:

• 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

Market Restraints:

• Low profits arising due to highly competitive and unorganised market restrains the growth of this market

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Segmentation: Global Wiper Motor Aftermarket Market 

By Distribution Channel

• Franchised Dealers
• Wholesalers and Distributors
• Component Part Manufacturers Sales
• Independent Garages
• Specialists Repairers and Suppliers
• Other

By Vehicle Type

• Commercial Vehicles
• Passenger Vehicles

By Product Type

• Stepper Motors
• Brush and Brushless DC Motors

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 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.

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