Subject: MRR
India Automotive Wiper Market is slated to surge at a CAGR of 7.3% to reach a valuation of US$ 284.9 Mn by 2031
NEW YORK, Jan. 25, 2022 /PRNewswire/ -- The India automotive wiper market is projected to expand at a value CAGR of 7.3% to reach a valuation of US$ 285 Mn by 2031.
One of the most important elements driving the automotive wiper market is the expansion of automobile manufacturing in India. Rising disposable income is one of the most important factors contributing to economic expansion. Increased use of rear wiper systems in low-end cars is another major factor driving growth of the automotive wiper industry. Rear wipers were formerly seen only in SUVs, but they are now widely utilized in hatchbacks as well.
Growth of this market is being driven by increasing number of manufacturers who are integrating basic and inexpensive wiper components to guard against uneven weathering, as well as consumer and OEM focus on vehicle and driver safety.
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Key Takeaways from Market Study
- Flat wiper blades is set to be the fastest growing segment at 7.9% compound annual growth rate.
- Standard wipers are predicted to account for a majority of the market share of more than 50% by 2031.
- By 2031, passenger automobiles are predicted to hold a market share of more than 85% in the vehicle segment.
- By 2031, West India is expected to account for around one-third of the Indian market.
- Windshield wipers will command more than 75% of market share by 2031, by application.
- By 2031, the aftermarket segment is estimated to account for over 74% of all automobile wipers sold.
- By blade size, 16" wipers are estimated to hold nearly 25% of the market share.
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"Increased need for better visibility and road safety along with a shift in preference toward flat wipers will drive demand for automotive wipers in India," says a Persistence Market Research analyst.
Market Landscape Predicted to Be Fairly Competitive
On a national level, the automotive wiper market in India is highly competitive and fragmented.
Some of the key automotive wiper manufacturers included in the report are Robert Bosch GmbH, Denso Corp., Valeo SA, Hella KGaA Hueck & Co., Syndicate Wiper Systems Ltd., ITW, Mitsuba Corporation, Doga, SA, Driv Incorporated, TRICO Products Corp., WIPE India, 3M, TVS Automobile Solutions Pvt. Ltd. (myTVS), Spark Minda Group, Ultra Wiring Connectivity System Ltd., Excelite, Camoflex Wiper Systems, and New Max Auto Industries
Conclusion
Rising popularity of SUVs, crossovers, and hatchbacks as well as increasing use of rear wipers in even entry-level vehicles has boosted demand for rear wipers, driving the market for automobile wipers. Increase in the number of old autos and wiper recycling are two other reasons supporting market growth. High replacement rate will also lead to decent growth of the market during the forecast period.
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Want to Know More?
Persistence Market Research, a research and consulting firm, has published a market research report on the India automotive wiper market that contains industry analysis of 2016?2020 and opportunity assessment for 2021?2031.
The report provides in-depth analysis of the market through different segments, namely, blade type, application, sales channel, vehicle type, and region.
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