Automotive Washer System Market will Register a CAGR of 5.4% through 2026

Posted by Vikas Bahurupi on August 7th, 2018

Global sales in the automotive washer systems market including headlamp and windshield washer systems is expected to reach US$ 17.5 Bn in 2016, witnessing a y-o-y growth of 4.2% over 2015. The global automotive washer system market is expected to register a value CAGR of 5.4% over the forecast period (2016–2026) and reach a value of US$ 29.6 Bn by end of 2026.

In terms of volume, the global sales in the automotive washer systems market is expected to reach 1,453.4 Mn Units in 2016 and expand at a CAGR 3.5% over the forecast period 2016–2026. Increasing vehicle production and adoption of efficient wiper and washer technologies are primary factors bolstering sales of washer systems globally. Moreover, high replacement rate of washer system components is expected to result in high sales in the aftermarket segment. The long-term outlook on the global automotive washer systems market remains positive, with the market expected to increase at 5.4% value CAGR during the forecast period 2016-2026.

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Windshield wiper was the largest segment by component in 2015 and the status quo will remain unchanged in 2016. Nozzle and hose & reservoir segments are expected to be the next large segment in terms of volume. By value, wiper motor segment is expected to remain dominant over the forecast period. The segment is expected to account for share of 45.9% in 2016 and is expected to maintain dominance over the forecast period.

By product type, windshield washer segment was largest segment in 2015, the segment is anticipated to hold 72.3% of the market revenue by 2026. Advancements in wiper blade technology and nozzle design will support growth of the automotive washer systems market in the near RRI. Headlamp washer system segment is anticipated to expand at a relatively higher value CAGR than windshield washer system.   Increasing sales of premium and luxury vehicles globally is anticipated to bolster growth of headlamp washer system. Furthermore, automakers in the market are focusing on introducing value added features in their mid-range vehicles, so as to earn competitive edge in the market.

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Asia Pacific is the largest automotive washer systems market and it is predicted to account for US$ 5.5 Bn revenue in 2016. Increasing adoption of headlamp washer systems in semi-luxury and mid-sized cars is a major trend witnessed in the region. North America is expected to be the next big market, the region accounted for 21.1% of the total revenue share in 2015 and is anticipated to hold 20.7% in 2016. The recent relocation of automotive production facility to developing nations such as Mexico will impact the OEM sales of washer systems in the region. Western Europe is expected to account for US$ 3.3 Bn revenue in 2016, the market for headlamp washer systems in the region is majorly driven by the existing stringent regulations to deploy these systems with high intensity headlamps.