According to our latest market study on "Automotive Windshield Washer System Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component and End User," the market is expected to grow from US$ 6,435.4 million in 2021 to US$ 9,234.3 million by 2028; it is estimated to grow at a CAGR of 5.3% from 2020 to 2028.
The North American region is comprised of advanced economies such as the US, Canada, and Mexico, where technological advancements have led to a highly competitive market. Economically robust countries in this region continuously strive to enhance their overall business processes to meet the increasing demand for high-quality products and services. North America has a significant advantage in the global market, with a high production and sales rate of passenger and commercial vehicles, making it one of the largest productions and sales regions. This growth in production and sales is also driving the demand for automotive windshield washer systems. In 2019, the production of passenger cars and commercial vehicles in North America was 16,783,398 units. Additionally, there are many automotive manufacturers such as Ford Motor Company, Daimler, Fiat Chrysler Automobiles, and General Motors Company present in the region. The North American governments are also taking initiatives to promote the development of the automotive sector, which is contributing to the growth of the automotive windshield washer system market.
The Advanced Technology Vehicle Manufacturing Loan Program valued at US$ 25 billion was administered by the Department of Energy. As automobile manufacturers strive to meet strict emission regulations, they are shifting their vehicle production toward electrification. One of the major factors contributing to the growth of the automotive market in the region is the rising demand for commercial vehicles from the e-commerce and logistics industry, which in turn drives the growth of the automotive windshield washer system market. The region has witnessed a significant increase in demand for electric vehicles (EVs) in recent years. In 2018, EV sales in the US rose by approximately 81% to 361,307, up from 194,479 in 2017. However, sales of EVs slightly decreased in 2019, with 329,528 sales recorded. The US and Canada are well-developed economies studied in the North America automotive windshield washer system market. The US automotive industry is dominated by commercial vehicles, including vans, pick-up trucks, and buses, and presents the largest market for luxury vehicles. Therefore, the demand for various types of automotive windshield washer systems is high, driven by the flourishing and large automobile market in the US, thereby boosting the growth of the automotive windshield washer system market.
Impact of COVID-19 Pandemic on Automotive Windshield Washer System Market
Asia-Pacific comprises India and China, the two most populated countries and major manufacturing hubs. Due to the COVID-19 pandemic, China implemented strict lockdowns and social isolation measures, which halted the manufacturing and production of various automotive OEMs and OESs for several weeks, resulting in reduced demand for automotive windshield washer systems. Additionally, China also restricted the import and export of essential raw materials and components for various automotive vehicles, affecting the supply chain of different end-user industries. Similarly, India also enforced a nationwide lockdown to curb the increasing number of COVID-19 cases. Therefore, the subsequent lockdown and disruption of numerous industrial equipment in both China and India adversely impacted the growth of the automotive windshield washer system market in Asia-Pacific. The closure of several wholesalers, distributors, and sales representatives further resulted in limited availability of automotive aftermarket products or related components from other European and North American-based market players.
Key Findings of Study:
The automotive windshield washer system market is categorized into different segments based on components, end-users, and geography. The component segment is divided into hose & connectors, nozzles, reservoirs, pumps, and wipers, with pumps segment holding the largest market share in 2021. The end-user segment includes commercial vehicle, passenger vehicle, and off-road highway vehicle, where passenger vehicle segment held the largest market share in 2021. Geographically, the automotive windshield washer system market is classified into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, Asia Pacific dominated the market share of the automotive windshield washer system market.
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