New York, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The global Automotive Windshield Washer Fluids Market is expected to witness significant growth at a remarkable CAGR of 3.3% during the forecast period of 2023-2030. The factors such as the increasing concerns among the consumer regarding vehicle maintenance, the increasing need for clear vision during driving due to various environmental factors, and others are accelerating the demand for automotive windshield washer fluids, which, in turn, is benefiting the market growth. In addition, the significant growth in the automotive industry will further boost the market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the automotive windshield washer fluids market is poised for strong expansion and is expected to reach USD 2,951.15 Million by 2030. The market, which was valued at USD 2,280.00 Million in 2022, is predicted to grow at a compound annual growth rate of 3.3% during the period 2023-2030. The report highlights the increasing concerns among consumers regarding vehicle maintenance, which is proliferating global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the automotive windshield washer fluids market.
Get Sample Report@ https://www.consegicbusinessintelligence.com/request-sample/1186
Automotive windshield washer fluids are getting popular among vehicle owners, owing to their various benefits and effectiveness on the windshields. The windshield is one of the major parts of the vehicle. Using dry wiper blades causes damage to the windshield such as scratches, blurred vision, and even cracks. Damage on the windshield cannot be cured easily. The total replacement of the windshield can be very expensive. To avoid such consequences vehicle owners actively spend on vehicle maintenance such as purchasing windshield washer fluids, changing oils, doing regular car checkups and maintenance, and others. This increasing concern among vehicle owners globally along with increasing spending on vehicle maintenance is driving the market for global automotive windshield washer fluids market.
For instance, according to the report by the Bureau of Economic Analysis in September 2022, the average spending of motor vehicle maintenance and repair accounted for USD 183.4 billion in 2020 which increased to USD 195.1 billion in 2021. Hence, the significant growth in consumer spending on motor vehicle maintenance and repair is accelerating the demand for automotive windshield washer fluids for cleaning windshields. This, in turn, is driving the growth of the market.
Global Automotive windshield washer fluids Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | USD 2,951.15 Million |
| CAGR (2023-2030) | 3.3% |
| By Type | Water Repellent, Bug Repellent, De-ice, Others |
| By Vehicle Type | Commercial Vehicles and Passenger Vehicles |
| By End User | OEM and Aftermarket |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Geography | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | Guangzhou Botny Chemical Co., Ltd., ITW Global Brands, Sonax GmbH, Total, Recohem Inc., Soft99 Corporation, Prestone Products Corporation, SolvChem Custom Packaging Division, Jangra Chemicals Private Limited, and Elliott Auto Supply Co., Inc. |
Immediate Delivery Available, Buy Now @ https://www.consegicbusinessintelligence.com/secure-checkout/1186
Global Automotive windshield washer fluids Market Segmentation Details:
Based on Type, the de-ice segment contributed the largest shares to the market growth in 2022. The de-ice automotive windshield washer fluids are utilized for treating automotive windshields in very cold areas. These windshield washer fluids are formulated to endure cold temperatures, which leads to freezing on automotive windshields and wipers. Removal of this ice from the windshield becomes very important in the winter season as it creates vision problems during the season. Normally ice scrapers are used on vehicles to clear the ice from vehicles which could lead to cracks, scratches, chips, and breakage of automotive glass. De-ice automotive windshield washer fluids are used to remove the ice from the windshield and clear the vision. Thus, due to the above beneficial properties, the deployment of de-ice automotive windshield washer fluids is increasing across the colder areas, which, in turn, is benefiting the market growth.
Based on Vehicle Type, passenger vehicles accounted for the largest market share in the year 2022. Automotive windshield washer fluids is employed in various vehicles to ensure clear vision and overall protection of the windshield. The significant growth in the sale of passenger cars is driving the segment growth globally. For instance, according to the report by the European Automobile Manufacturers Association in May 2023, the Europe region accounted for a 19.5% increase in the total annual sale of passenger cars in 2022. The new registrations for passenger cars reached 17.8%, increasing from the previous year. Thus, the significant growth in the passenger cars segment is driving the segment worldwide.
Get Sample Report@ https://www.consegicbusinessintelligence.com/request-sample/1186
Based on End User, the aftermarket accounted for the largest market share in the year 2022. Automotive aftermarket refers to the market, which is involved in providing spare parts, automotive components, accessories, and other equipment for servicing, repair, and maintenance of automobiles. These aftermarket marketplaces provide a path for the distribution of services that support improving the usage of automotive products and their applications. The significant growth in the global automotive aftermarket revenue globally is driving the segment growth over the forecast period. For instance, according to the report by The Automotive Component Manufacturers Association of India, the total revenue from the automotive aftermarket globally accounted for USD 421.9 billion in 2019 which was USD 405.70 billion in 2018. Thus, the significant growth in the automotive aftermarket worldwide is benefiting the market growth.
Based on Region, in the year 2022, Asia Pacific accounted for the largest share contribution to the market growth, owing to the significant growth in the automotive sector across the region, the presence of major automotive vehicles manufacturers, and increasing government initiatives for the development of automotive sector across the region. The Asia Pacific region has some of the largest automotive manufacturers such as Toyota, Hyundai, Honda, Tata, Kia, and others. This high presence contributes to the heavy demand for automotive windshield washer fluid across the region. Furthermore, increasing sales of vehicles across the region is also contributing to the market growth across the Asia Pacific region. For instance, according to the report by International Trade Administration in April 2023, the total sale of vehicles across China accounted for 26 million units in 2021, among which 21.48 were passenger vehicles and 4.79 million commercial vehicles with a total increase in sales of 13.7% from 2020.
Competitive Landscape
ITW Global Brands, Sonax GmbH, Total, and Recohem Inc. are major market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of automotive windshield washer fluids. Further, the automotive windshield washer fluids market is expected to grow steadily due to rising demand from the building and construction industry, especially in the regions such as Asia Pacific, North America, and Europe regions are estimated to boost the market statistics in the coming years. Additionally, the trend toward increasing the development of new automotive windshield washer fluids manufacturing facilities in the upcoming years, thereby anticipated to increase the competition in the market.
Recent Developments
- In September 2019, O’zAuto-Austem announced the production of new windshield washer fluid. The new product is designed to avoid windshield freezing, washing glasses, office equipment, and mirrors.
- In August 2020, GELENA CHIMAVTO, a manufacturer of cooling liquid announced the launch of a new windshield washer fluid. The new windshield washer fluid is used for an integrated water wash.
- In December 2022, Recochem, a manufacturer and distributor of automotive aftermarket and fluid, announced the acquisition of Torque Details for the expansion of their windshield washer fluid product portfolio.
Browse Full Report & TOC @ https://www.consegicbusinessintelligence.com/automotive-windshield-washer-fluids-market
Key Market Takeaways
- Asia Pacific accounted for the highest market share at 37.11% and was valued at USD 846.11 million in 2022 and is expected to reach USD 1,102.55 million in 2030. Moreover, in Asia Pacific, China accounted for the highest market share of 22.25% during the base year of 2022.
- Based on type, the de-ice segment accounted for the highest share contribution to the automotive windshield washer fluids market statistics in 2022.
- Based on vehicle type, the passenger vehicles segment accounted for the highest share contribution to the automotive windshield washer fluids market statistics in 2022.
- In the context of end user, the aftermarket segment is expected to contribute significant shares to the growth of automotive windshield washer fluids market statistics during the forecast period.
- Europe is expected to grow with the highest CAGR in the automotive windshield washer fluids due to the increasing government initiatives for the adoption of low pollution causing vehicles in the region.
List of Major Global Automotive Windshield Washer Fluids Market:
- Guangzhou Botny Chemical Co., Ltd.
- ITW Global Brands
- Sonax GmbH
- Total
- Recohem Inc.
- Soft99 Corporation
- Prestone Products Corporation
- SolvChem Custom Packaging Division
- Jangra Chemicals Private Limited
- Elliott Auto Supply Co., Inc.
Global Automotive Windshield Washer Fluids Market Segmentation:
- By Type
- Water repellant
- Bug Repellent
- De-ice
- Others (All-season Wiper Fluid, etc.)
- By Vehicle Type
- Commercial Vehicles
- Passenger Vehicles
- By End User
- OEM
- Aftermarket
Request for Customization @ https://www.consegicbusinessintelligence.com/request-customization/1186
Frequently Asked Questions in the Automotive windshield washer fluids Market Report
- What was the market size of the automotive windshield washer fluids industry in 2022?
- In 2022, the market size of automotive windshield washer fluids was USD 2,280.00 million
- What will be the potential market valuation for the automotive windshield washer fluids industry by 2030?
- In 2030, the market size of automotive windshield washer fluids will be expected to reach USD 2,951.15 million.
- What are the key factors driving the growth of the automotive windshield washer fluids market?
- Increasing concerns among the consumer regarding vehicle maintenance are benefiting the market growth.
- What is the dominating segment in the automotive windshield washer fluids market by application?
- In 2022, the de-ice segment accounted for the highest market share of 36.85% in the overall automotive windshield washer fluids market.
- Based on current market trends and future predictions, which geographical region is the dominating region in the automotive windshield washer fluids market?
- Asia Pacific accounted for the highest market share in the overall automotive windshield washer fluids market.
Our Other Research Reports here:-
Microplate Readers Market Size | Industry Forecast 2023 - 2030
Photo Printing Kiosk Market Size | Industry Forecast 2023 - 2030
Membrane Separation Materials Market Size | Industry Forecast 2023 - 2030
Veterinary Diagnostic Imaging Market Size | Industry Forecast 2023 - 2030
Agricultural Insurance Market Size | Industry Forecast 2023 - 2030
About Consegic Business Intelligence Pvt Ltd.
Consegic Business Intelligence Pvt Ltd. is the leading research industry that offers contextual and data-centric research services to its customers across the globe. The firm assists its clients to strategize business policies and accomplish sustainable growth in their respective market domains. The industry provides consulting services, syndicated research reports, and customized research reports.
Topnotch research organizations and institutions to comprehend the regional and global commercial status use the data produced by Consegic Business Intelligence Pvt Ltd. Our reports comprise in-depth analytical and statistical analysis on various industries in foremost countries around the globe.
Press Releases:- https://www.consegicbusinessintelligence.com/press-release/automotive-windshield-washer-fluids-market
Contact:
Consegic Business intelligence Pvt Ltd.
Contact no.: (US) (505) 715-4344
Email: sales@consegicbusinessintelligence.com
