Rear Spoiler Market Research Report - Global Forecast to 2030

Rear Spoiler Market Information Report by Fuel Type (ICE,BEV, and Others), Material (ABS, Carbon Fiber, Fiber Glass, and Sheet Metal), Technology (Blow Molding, Injection and Reaction Injection Molding), Vehicle Type ( Hatchback, SUV, Others), and region | Forecast 2030

ID: MRFR/AM/3690-HCR | December 2022 | Region: Global | 100 pages

Impact of COVID-19 on the Global Rear Spoiler Market

Rear spoilers are automotive aerodynamic devices that are designed to spoil adverse air movement across the body when a vehicle is in motion. The spoilers which are in front of the car are often called air dams. They are mainly used in high-end sports cars as well as passenger vehicles. The increasing sales of passenger vehicles is the major factor driving the growth of the market. The rising demand for new cars is expected to enable the growth of the auto components suppliers. Vehicle manufacturers have shifted their priorities from small cars to SUVs and higher-value pickups, which is likely to boost the demand for the installation of rear spoilers on pickup vans and SUVs. The spread of COVID-19 has drastically impacted the manufacturing sector. The lockdowns have hampered production owing to the temporary suspension of manufacturing plants.

The decrease in the installation of rear spoilers in new sports cars and passenger vehicles has significantly hindered the growth of the market. Most of the companies in China are shifting their operations to other countries, which is estimated to affect the Chinese market drastically. China is the leading hub for vehicle manufacturers across the globe. The decrease/increase in demand for vehicles directly impacts the growth of the market. The economic crisis caused due to the COVID-19 pandemic has impacted the income levels of individuals, which has impacted the sales of new vehicles. China is a production hub for raw materials used in the manufacturing of cars. The spread of the virus from China has disrupted the supply chains, which has resulted in revenue losses for the companies. The market is projected to grow steadily in the post-pandemic period.

Passenger Car Registrations, 2015 to 2019