Global Industry Analysts, Inc. (GIA), a leading market research company, has just released a comprehensive report on the status and future of the auto glass wiper market. According to the report, the recent setbacks for the industry are going to be remedied presently and the global market for windshield wipers is most likely going to reach $7.75B by 2017 due to vast global forces already recovering from the impact of the recession.
Just like the auto glass industry, the automotive wiper systems industry suffered during the recession, most especially about two to three years ago. The recession drove down automotive manufacturing all over the world, leading to significant decline in the demand for OEM automotive parts such as auto glass and wipers. The aftermarket section suffered as well: original deals and contracts were cancelled, and soon even the aftermarket sales were all but dead for many auto parts manufacturers.
Fortunately, the global market for automotive parts has been recovering from the recession, most notably due to the powerful demand for auto parts in the regions of Europe and Asia. According to the GIA report, the largest regional market for the windshield/auto wiper industry is still Europe, what with its abundance of automotive manufacturers continuously seeking innovations in all parts of auto design. It is in Europe in particular that wiper systems manufacturers known for innovation focus their marketing and strategies, and the manufacturers are already investing in significant R&D projects to further the latest designs.
The report also stated that the demand for wiper systems is due to the rising demand for new automobiles in certain developing markets, China and India being included as prominent members of that group. Indeed, Chinese auto glass producers have been reaping the benefits of the same rising demand, and auto glass manufacturing has been steadily growing for Chinese glass producers. It only stands to reason that wiper systems would also be in demand, as an attendant factor.
The GIA report noted that the wiper systems market is most likely going to be seeing considerable expansion in the future due to people actually growing more conscientious about car care, as indeed several movements have indicated of late. In the US in particular, consumers are becoming more aware of the advantages to keeping their cars properly maintained and at peak condition, as the recession is still being felt and means that most cannot afford to purchase a new car as replacement should anything happen to the old one. Aftermarket/replacement auto glass wiper systems are thus being predicted to be major products in demand in the coming years as people start including wiper replacement and care in their list of automotive maintenance must-do’s. The report also mentioned that the rising demand for rear wiper blade systems would be likely to improve the market’s sales in the future.
