More
    HomeEV NewsAutomotive Screenwash Products Market to Reach US$ 8.12 billion by 2033; Burgeoning...

    Automotive Screenwash Products Market to Reach US$ 8.12 billion by 2033; Burgeoning at a 15.03% CAGR | Future Market Insights

    The global automotive screenwash products market in 2022 was US$ 1.8 Billion and is estimated to be US$ 2 Billion in 2023. According to FMI analysis, the automotive screenwash products market is projected to expand at a CAGR of 15.03% between 2023 and 2033, totaling around US$ 8.12 Billion by 2033.

    The surge in the sale of automotive vehicles over the past few years is one of the key factors contributing to the growth of the market. Further, the increase in the adoption of personal use application dealers and the growth in disposable income of consumers are among the key factors that drive market growth.

    Improvements in screenwash products like compatibility for all-season and specific bug mark-removing applications with a fall in their prices are thus raising the market growth. An increase in usage at a personal level than service providers is thus creating key opportunities for the market to rise. In addition, a boost in inclination toward electric vehicles is raising the market growth.

    Key Takeaways

    • The global automotive screenwash products market expanded at a CAGR of 14.1% between 2018 and 2022.
    • India is forecasted at a CAGR of 6.21% in the automotive screenwash products market.
    • China is anticipated at a CAGR of 6.54% in the automotive screenwash products market.
    • The United Kingdom consists of a significant portion of Europe’s market with a market share of 10.24%.
    • Based on the sales segment, direct sales have a market share of 72%.
    • Based on the product type segment, all-season automotive screenwash products are forecasted a market share of 60.2%.

    “Expansion of vehicle fleet raises the demand for automotive screenwash products is one of the primary drivers of the automotive screen wash products market says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).

    Market Competition Scenario

    Attributed to the presence of such a high number of participants, the market is highly competitive. An automotive screen wash products market report also contains projections using a suitable set of assumptions and methodologies.

    Global automotive screen wash products research report provides analysis and information according to market segments such as geographies, applications, and industries.

    Key Innovations

    • Prestone makes products for vehicles and specializes in making antifreeze/coolants for cooling system demands. In December 2022, Centerbrige Partners acquired Prestone Products for $230M.
    • In April 2023, Magnum Research is iconic revolver known as the BFR, which mainly stands for “biggest, finest revolver” or “big-frame revolver,” unveiled its latest addition to the BFR family at the 2023 Meetings: the BFR in Remington’s new 360 Buckhammer chambering.
    Himanshu Vaibhav
    Himanshu Vaibhavhttps://www.timesev.com/
    Himanshu Vaibhav is a distinguished Technology Journalist associated with ELEtimes.com and TimesEV.com. With expertise in researching, writing, and editing, he demonstrates a deep understanding of technology, particularly in the EV industry. His continuous updates on EV, Automotive, and E-mobility industries reflect his commitment to staying at the forefront of emerging trends.

    Related Post

    Most Popular

    Best Picks

    STMicroelectronics offers Cost-Effective, Fastest, and First STM32 MCUs to Support Bootflash

    STMicroelectronics is a global leader in the semiconductor space developing customer-centric and sustainable products. Their STM32 Portfolio is a hugely popular highly reliable and...

    India’s Promising EV Market is Lending Hope for an...

    The world faces serious environmental concerns that require immediate attention and progressive solutions. The human civilization is at a crossroads where every decision will...

    Sustainability is not just a corporate responsibility, but a...

    STMicroelectronics, a global semiconductor leader serving customers across the spectrum of electronics applications is among the early changemakers in the ongoing sustainability issue. The...

    Balancing Currents for Optimal Performance in Automotive Smart Drivers

    Author: Giusy Gambino, Marcello Vecchio, and Filippo Scrimizzi from STMicroelectronics, Catania, Italy When developing distributed intelligence for smart power switches in automotive power management systems, it...

    STM32CubeMX 6.11 opens its GUI to the boot flash...

    Author: STMicroelectronics  STM32CubeMX 6.11 is a new milestone as it allows developers to use the unique features of the new STM32H7R and STM32H7S. The software also continues...

    Raptee Sets the Stage for Two-Wheeler EVs in India

    Raptee is a full-stack two-wheeler EV startup with their flagship product highly tech-enabled and IoT-centred. The team began operations out of Chennai in 2019...

    Delta’s EV Charging Solutions Give Rise to Innovation with...

    Delta Electronics is a truly global brand operational across Asia, Europe, America, Australia, and New Zealand. The team is highly competitive and works towards...

    STM32 Summit: 3 important embedded systems trends for 2024

    Author: STMicroelectronics Where are embedded systems heading in 2024, and how can makers stay ahead of the curve? Few people used to ask these questions a...

    L99LDLH32 – 32-channel LED driver enabling the technology revolution...

    Author: Bipin Pande, Technical Marketing Manager, STMicroelectronics Pvt Ltd STMicroelectronics’ L99LDLH32 linear current regulator delivers a convenient, integrated solution for dynamic automotive lighting controlled using CAN-FD...

    Must Read