NEWARK, Del, Dec. 05, 2023 (GLOBE NEWSWIRE) -- The APAC wiper blade market revenue is set to increase from US$ 2,897.4 million in 2023 to US$ 5,763.1 million by 2033. Over the assessment period, demand for wiper blades in APAC is projected to surge at a CAGR of 7.1%.
The conventional wiper blades segment is expected to dominate the APAC wiper blade business through 2033. It is set to hold a volume share of 64.8% by 2023. On the other hand, the hybrid segment is set to progress at a robust CAGR of 7.1% through 2033.
Several factors are expected to drive sales of wiper blades in APAC during the forecast period. These include rising production and sales of vehicles, a growing focus on improving vehicle safety, and innovation in wiper blades.
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Technological advancements play a pivotal role in shaping the APAC wiper blades business. The adoption of innovative features such as smart wiper systems, aerodynamic designs, and advanced rubber coatings enhances product performance, durability, and overall safety. This aligns with the region's broader trend of integrating cutting-edge technologies into automotive components.
As the APAC wiper blades business continues to evolve, manufacturers are strategically focusing on developing tailored solutions for diverse climatic conditions. The new enhanced products ensure optimal visibility and safety for drivers.
The aftermarket and OEM product sales growth is anticipated to positively impact the automotive wiper blade businesses in nations such as China, India, and Japan. According to estimates, makers of wipers favor domestically supplied parts because of their affordable prices and reliable supply.
Developing nations such as India, China, the Philippines, Indonesia, and others are countries with the most lucrative economic potential. These areas are anticipated to experience consistent economic growth supported by quick urbanization and industrialization.
Due to the expanding middle class, favorable demographics, and significant infrastructure projects, developing countries will likely present lucrative growth prospects for wiper blade companies. As a result, several companies will look to establish their bases in these lucrative nations.
Key Takeaways from the Report-
- The APAC wiper blade revenue is projected to increase at a 7.1% CAGR through 2033.
- By product type, the conventional wiper blades segment is expected to total a valuation of US$ 1,878.8 million by 2033.
- By vehicle type, the passenger car segment is set to hold a value share of 84.0% in 2023.
- China is expected to account for a significant share of about 47.9% in 2033.
- Sales in Japan are anticipated to total US$ 589.9 million by 2033.
- India is projected to attain a valuation of US$ 300.6 million by 2033.
- Demand in South Korea is predicted to rise at an 8.4% CAGR through 2033.
“The wiper blade business is poised to witness healthy growth due to increasing vehicle ownership, technological innovations, and a growing emphasis on improving passenger and vehicle in Asia Pacific,” - says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
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Competitive Landscape
Top manufacturers of wiper blades profiled in the report include
- Valeo SA
- Robert Bosch GmbH
- Hella KGaA Hueck & Co.
- Denso Corp.
- CAP Corporation
- Syndicate Wiper Systems Ltd.
- ITW
- Mitsuba Corporation
- Doga, SA
- DRiV Incorporated
- TRICO Products Corp.
- WIPE India
- 3M
- Spark Minda Group
- Ultra Wiring Connectivity System Ltd.
- XIONG SHUN AUTOMOBILE MATERIAL XIAMEN CO., LTD.
- Xiamen Meto Auto Parts Industry Co., Ltd.
- Maruenu Inc.
- NITTO-KOGYO CO., LTD.
- Jenok Wiper Blade
Key players are focusing on the expansion of domestic production and technology areas of wiper blades to provide cost-efficient solutions to consumers. They are also investing in developing new products and further innovating existing ones to meet end-user demand.
Recent Developments-
- In August 2021, Valeo unveiled its first rear wiper blades to meet the rising demand from its customers.
Scope of the APAC Wiper Blade Business
| Attribute | Details | |
| Estimated Value (2023) | US$ 2,897.4 million | |
| Projected Size (2033) | US$ 5,763.1 million | |
| Anticipated Growth Rate (2023 to 2033) | 7.1 | % |
| Historical Data | 2018 to 2022 | |
| Forecast Period | 2023 to 2033 | |
| Quantitative Units | Value (US$ Million) and Volume (Th. Units) | |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis | |
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APAC Wiper Blade Industry Analysis by Category
By Product Type:
- Flat
- Hybrid
- Conventional
By Application:
- Front
- Rear
By Vehicle Type:
- Passenger Car
- Compact
- Mid-size
- Luxury
- SUV
- Commercial Vehicle
- Heavy Commercial Vehicle
By Size:
- Up to 12 Inch
- 12 to 16 Inch
- 16 to 20 Inch
- 20 to 24 Inch
- Above 24 Inch
By Sales Channel:
- First Fit
- Aftermarket
- Authorized Outlets
- Independent Aftermarket
By Country:
- China
- Japan
- South Korea
- India
- Thailand
- Malaysia
- Indonesia
- Philippines
- Singapore
- Australia
- Rest of APAC
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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