Rear spoiler market is estimated to witness a 7.50% CAGR during the forecast period.
The rear spoiler market depends on the increase and decrease of the demand in the automotive industry. In 2015, the total vehicle production was almost 90 million units and by 2023 it gradually boosts and is expected to reach more than 100 million units.
An automatic aerodynamic component is manufactured to control the air movement across the body when a vehicle is in motion that is called Rear Spoiler. These are most helpful in high-end sports cars where the air movement affects the balance of the car and leads to accidents. The company’s high innovation increases the rear spoiler market share. To design a rear spoiler into efficient and durable, several materials are used and they are not complex. For its lightweight property and improved fuel efficiency, the ABS rear spoiler is going to be a trend in the future.
The COVID -19 spread all over the countries and drastically impacted the manufacturing sector. The continuous lockdowns hamper the production and the manufacturing plants closed temporarily. Due to the imposition of lockdowns of temporary and permanent kind, there is an unavailability of workforce that is further hampering the market’s ability to cope up with the demand and is disrupting the supply chain mechanism of the global market. Rear spoilers are used in high-end sports cars and passenger vehicles. The use of cars, especially SUVs has reduced in the period of pandemic due to less usage. The manufacturers also shifted to manufacture SUVs and higher value pickups from small cars, hence it increases the demand over the rear spoilers on pick up vans and SUVs. Due to COVID, the production decreases, and the installation of rear spoilers is also decreased, hence it significantly hinders the growth of the market.
China is the main production hub for supplying raw materials that are used in the manufacturing of cars. But due to the coronavirus economic crisis, the supply chain has disrupted and results in revenue losses for the companies. After the lockdown, the rear spoiler market share has been gradually increasing.
The major leaders of the market are following:
All the prominent players focus on the growth of the market. DAR Spoilers (U.S) is one of the top key players in the market.
The high-performance cars with aesthetic appearance with the latest technologies will surge the rear spoiler market size in the forecast period. To improve the air movement control at high speed, vehicle manufacturers are introducing new models that are equipped with rear spoilers.
The new technology rear spoiler like reducing the overall weight of the vehicle which enhances the fuel efficiency. The lightweight vehicles have high demand over the market, so the manufacturers are designing the advanced spoilers with reduced weight. Thus, increases the demand for the market.
During the growth of the market, the raw materials related to the rear spoiler may fluctuate in cost and it becomes a threat to the manufacturers and may increase the cost of the rear spoiler.
Constant research and development support is needed for the development of vehicles and their aesthetic features. It results in extensive capital investment which is the restrain of the rear spoiler market trend. Moreover, high base and installment prices for automotive rear spoiler are expected to hinder the growth of the market.
By increasing the awareness about the rear spoiler benefits to the consumers is the major factor to raise the rear spoiler market growth.
The global market for rear spoiler has been segmented based on the technology, region, vehicle type, fuel type, and material.
Based on Technology
The global rear spoiler market based on technology is segmented into Blow Molding, Injection, and Reaction Injection Molding. Among these, Blow Molding is expected to dominate the market for its high use in the manufacturing process of the rear spoiler.
Based on Region
The rear spoiler market based on the region is segmented into four regions like North America, Europe, Asia-Pacific, and the rest of the world. Among these Europe leads a high share of the global automotive market for their passion among high-speed vehicles.
Based on Vehicle Type
The automotive rear spoiler market based on vehicle type is segmented into passenger vehicles and light commercial vehicles. Among these passenger vehicle segment holds the largest share in the market.
Based on Fuel Type
The rear spoiler market based on the fuel type is segmented into ICE, BEV, and others. Among these, the Internal Combustion Engine (ICE) is having the enhancement of cars aerodynamics properties which is having the risk of accidents. Hence uses rear spoilers in this ICE increases the demand over the rear spoilers.
Based on Material
The rear spoiler market based on material type is segmented into ABS plastic, fiberglass, silicon, and carbon fiber. For improving the properties, OEMs mostly prefer rear spoiler made of ABS plastic. Fiberglass material is widely used for its low cost. Silicon rear spoilers have better plasticity when compared to other materials, so it has high demand over the forecast period. Carbon fiber material helps in reducing weight and increasing durability.
The global rear spoiler market has been segmented into four regions Europe, Asia-Pacific, the Rest of the world, and America.
North America is expected to be the largest market share in the rear spoiler industry analysis for its high demand for passenger cars. The manufacturers shifted to designing small cars to pick up vans and SUVs for transportation. This increases the installation of rear spoiler in SUVs, hence increases the growth of rear spoiler market revenue. Moreover, in the forecast period, Asia-Pacific is expected to be the highest CAGR due to the high demand for the rear spoiler in emerging countries like India, China, and Japan. Europe is expected to be the next largest share in the market for its passion for high-speed vehicles. These high-speed vehicles are having the risk of accidents and need the rear spoiler in their vehicles.
This market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent Developments, Segmentation Table and FAQs. The market dynamics consist of drivers, restraints, and opportunities of the rear spoiler industry. The advanced technology lightweight cars boost the growth of the rear spoiler market outlook. This market is segmented based on technology, region, vehicle type, fuel type, and material.
The rear spoiler market research report is segmented into technology, fuel type, vehicle type, material and region.
Blow Molding, Injection, and Reaction Injection Molding
By Vehicle Type
Passenger vehicle and light commercial vehicle
The four main regions are North America, Europe, Asia-Pacific, and the rest of the world
By Fuel Type
ICE, BEV, and others
ABS plastic, fiberglass, silicon, and carbon fiber
|Market Size||2030 : Significant Value|
|CAGR||7.50% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Fuel Type, Material, Technology, Vehicle Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Magna International Inc. (Canada), Plastic Omnium (France), SMP Automotive (Germany), Polytec Group (Austria), Albar Industries Inc. (U.S), Mercedes AMG GmbH (Germany), Changzhou Huawei (China), DAR Spoilers (U.S), P.U.Tech Spoiler (Malaysia), SRG Global (U.S)|
|Key Market Opportunities||Increasing the awareness about the rear spoiler benefits to the consumers|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The rear spoiler market can surge at 7.50% CAGR by 2023.
The rear spoiler market can attain high valuation by 2023.
DAR Spoilers (U.S.), Changzhou Huawei (China), SRG Global (U.S.), and P.U. Tech Spoiler (Malaysia) are some reputed names in the rear spoiler market.
High rate of road accidents can impel the expansion of the global rear spoiler market expansion.
The North America region houses several renowned carmakers, which can prompt the rear spoiler market growth.