Wiper Segment is Expected to be Fastest Growing during Forecast Period for APAC Region
According to The Insight Partners market research study on “APAC Automotive Windshield Washer System Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Component and Vehicle Type” is expected to reach US$ 4,437.6 million by 2027 from US$ 3,826.3 million in 2019. The market is estimated to grow at a CAGR of 7.0 % from 2020 to 2027. The report provides trends prevailing in the APAC automotive windshield washer system market along with the drivers and restraints pertaining to the market growth. Growing technological innovations for sustainable advantage and refined performance in cold weather conditions are the major factor driving the growth of the APAC automotive windshield washer system market. However, complication associated with durability of components hinder the growth of APAC automotive windshield washer system market.
In case of COVID-19, APAC is highly affected specially the China and India. The China imposed strict lockdown and social isolation which virtually halted the manufacturing as well as production of numerous automotive OEMs and OESs for several weeks resulting in shrinking its market demand. Moreover, the country also isolated its import as well as export of critical raw materials and components for numerous automotive vehicles impacting the supply chain of various end-user industries. Similarly, India also imposed a nationwide lockdown to mitigate the growing number of COVID-19 cases across the country. As a result, the subsequent lockdown and disruption of numerous industrial equipment across China and India respectively has contributed significantly in negatively impacting the automotive windshield washer system market growth across the APAC region. In addition to this, the closure of several wholesalers, distributors and sales representatives also have witnessed limited the availability of automotive aftermarket products or its related component from other European and North American based market players.
Based on identifying and analyzing multiple number of market players, the APAC automotive windshield washer system market is broadly segmented into component, vehicle type, and country. Based on component, the market is broadly segmented into hose and connectors, nozzles, reservoirs, pumps, and wipers. The pumps segment dominates the APAC automotive windshield washer system market in 2019. The wiper segment is expected to be fastest growing during forecast period. Similarly, based on vehicle type, the market is briefly divided into commercial vehicle, passenger vehicle, off road highway vehicle. The passenger vehicle segment dominated the APAC automotive windshield washer system market in 2019 and off road highway vehicle is expected to be fastest growing during forecast period.
Denso Corporation; DOGA; HELLA GmbH and Co. KGaA; Kautex Textron GmbH & Co. KG; Mergon Group; MITSUBA Corporation; Robert Bosch GmbH; Trico Products Corporation; Zhejiang Zhenqi Auto Parts Corp., Ltd. are among the leading companies in the APAC automotive windshield washer system market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Denso Corp. opened a new R&D at Tokyo, Japan.
The report segments the APAC Automotive Windshield Washer System Market as follows:
APAC Automotive Windshield Washer System Market – By Component
- Hose and Connectors
- Nozzles
- Reservoirs
- Pumps
- Wipers
APAC Automotive Windshield Washer System Market – By Vehicle Type
- Commercial Vehicle
- Passenger Vehicle
- Off Road Highway Vehicle
APAC Automotive Windshield Washer System Market – By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
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