Global Rear Spoiler Market Size was valued at USD 3.8 Billion in 2022. The rear spoiler market industry is projected to grow from USD 4.085 Billion in 2023 to USD 7.285 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.50% during the forecast period (2023 - 2032). The two main factors accelerating market expansion are the rising demand for safe and fuel-efficient cars and the rising sales of SUVs and MUVs. Furthermore, rising gasoline prices are prompting customers to get rear spoilers. To lessen drag and increase fuel economy, they force air around the car accelerating as the key market driver enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Rising demand for high-speed cars with enhanced aesthetics drives market CAGR. In the upcoming years, the desire for fast automobiles with improved appearances is expected to grow. As buyers change their attention from SUVs and MVPs to high-speed aesthetic automobiles for luxury appearances, rear spoilers aid in improving the aesthetics of cars and give them a premium aspect. The fact that manufacturers are reorienting their efforts in response to consumer demands may lead to a rise in demand for rear spoilers on the international market.
One of the main drivers of the market's expansion at the moment is the rising demand for rear spoilers, which are useful in improving a car's overall appearance by adding opulent details. In addition, the industry is expanding because of the increasing use of personal vehicles for comfortable travel instead of public transit. Additionally, a positive market outlook is being provided by the increased use of sport utility vehicles (SUVs) and multipurpose vehicles (MPVs), which are roomy and offer a variety of useful functions. In addition, major market participants are introducing luxury and sports car models with rear spoilers already installed to increase traction and maneuverability at high speeds.
Additionally, the market is expanding as a result of the increased demand for safe and fuel-efficient automobiles brought on by people's growing environmental consciousness. Additionally, the industry is being supported by the growing use of acrylonitrile butadiene styrene (ABS) plastic in the production of rear spoilers because of its accessibility and affordability. The market is also expanding as a result of the widespread availability of visually beautiful rear spoilers that provide crash protection, a variety of aerodynamic benefits, and enhance the overall driving experience. Thus, driving the rear spoiler market revenue.
The global rear spoiler market segmentation, based on fuel type includes ICE, and BEV. Due to the low cost of manufacture and the cheaper price of ICE-based cars compared to other vehicles, the ICE category is anticipated to grow at a significant CAGR throughout the projection period. Additionally, the growing use of ICE-based cars throughout the world may raise demand for rear spoilers, which may help the category.
However, due to the growing uptake of electric cars (EVs) throughout the world, it is projected that the BEV category will have a significant market share in the years to come. Since they are more environmentally friendly and provide several advantages over ICE-based vehicles, electric vehicles are rapidly gaining popularity. The market for rear spoilers may rise throughout the predicted period due to rising government measures to encourage EV use and lower carbon emissions.
The global rear spoiler market segmentation, based on technology, includes blow molding, injection and reaction, and injection molding. Blow molding has the largest share of the market in 2022 and is expected to continue to develop quickly since it is less costly than injection molding. Additionally, blow molding equipment is less expensive, which benefits manufacturers who may see an increase in demand for this kind of manufacturing in the coming years.
Due to several benefits, including flexibility in changing the material or color used, highly designed tooling, and intricate multi-cavity mold possibilities, the injection modeling industry is expected to grow significantly during the projection period. Due to its potential for mass manufacturing and high-volume orders, injection modeling has seen a rapid increase in demand, which is expected to fuel market expansion.
Based on material, the global rear spoiler market segmentation includes ABS, carbon fiber, fiberglass, and sheet market. Carbon fiber category to fuel industry expansion. The goal of automakers is to make their vehicles lighter at all times. Higher economy and lower emissions can both be accomplished with a lighter car. The manufacturer is also spending money on the development of lightweight materials. Due to its reduced weight compared to other rear spoiler materials, carbon fiber has become more popular in the rear spoiler category. McLaren introduced the McLaren 720s with carbon fiber rear spoilers.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. North America dominates the global rear spoiler market due to the presence of important key players in the area and the growing demand for passenger vehicles, the market size in North America is anticipated to grow at a rapid rate. The US has more motor vehicles per person than other nations in terms of the number of autos per capita. California also has the most automobiles registered, according to the US Department of Transportation. With a population of over 40 million in the state in 2020, it registered over 30 million cars and trucks.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe rear spoiler market accounts for the second-largest market share. As the European economy grows and consumer confidence remains high, more people may be willing to invest in sports cars or vehicles with performance-oriented features like rear spoilers. Rear spoilers are a popular aftermarket modification to enhance the appearance and performance of cars, and this trend may continue to gain popularity in Europe. Further, the German rear spoiler market held the largest market share, and the UK rear spoiler market was the fastest-growing market in the European region.
The Asia Pacific Rear Spoiler Market is expected to grow at the fastest CAGR from 2023 to 2032. Due to the rising demand for automobiles, both passenger and commercial vehicle types might contribute to the market expansion in Asia Pacific, which is predicted to see a significant CAGR over the projected period. In the upcoming years, increasing consolidation among part distributors may boost the regional and global markets.
Leading market players are investing heavily in research and development to expand their product lines, which will help the rear spoiler market, grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The rear spoiler industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global rear spoiler industry to benefit clients and increase the market sector. In recent years, the rear spoiler industry has offered some of the most significant medical advantages. Major players in the rear spoiler market, including Magna International Inc., Plastic Omnium, SMP Automotive, Polytec Group, Albar Industries Inc., Mercedes AMG GmbH, Changzhou Huwaei, DAR Spoilers, P.U.Tech Spoiler, SRG Global, and others, are attempting to increase market demand by investing in research and development operations.
Magna International Inc. is a Canadian-based company with its headquarters located in Aurora, Ontario, Canada. The company was founded in 1957 and has since grown into a prominent player in the automotive industry, providing a wide range of products and services to automotive manufacturers worldwide. Magna operates across multiple continents and has a significant presence in North America, Europe, Asia, and other regions. For instance, in September 2022, Magna continues to provide important innovations that meet trends toward vehicle accessibility even as the mobility transition is well underway. Rear thermoplastic swing doors, its most recent invention, are debuting on the market with the all-electric Volkswagen ID. Buzz.
Mercedes-AMG GmbH is a wholly-owned subsidiary of Mercedes-Benz and is headquartered in Affalterbach, Germany. The company was founded in 1967 and has a rich history of producing high-performance vehicles with a focus on superior engine performance, handling, and design. Mercedes-AMG vehicles are known for their powerful engines, sporty appearance, and advanced driving dynamics. For instance, in May 2022, Magnificent Proportions The Vision AMG makes an emotive statement from every angle. It is distinguished by a long wheelbase and emphasized by low overhangs, muscular shoulders, huge wheels, a prominent rear spoiler, and a star-shaped headlight signature. This exceptional Mercedes-AMG display vehicle provides a sneak preview of the company's all-electric future.
April 2023:Â Magna announced in February a $471 million investment across six facilities in Ontario to improve its capacity for producing EV parts as part of its efforts to grow EV-related production in Canada. A chemical firm with annual sales of over $65 billion that operates in 29 countries, Ineos has expanded into consumer goods through its vehicle segment as well as a brand of hygiene products and clothes.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 3.8 Billion |
| Market Size 2023 | USD 4.085Â Billion |
| Market Size 2032 | USD 7.285 Billion |
| Compound Annual Growth Rate (CAGR) | 7.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Fuel Type, Material, Technology, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Magna International Inc., Plastic Omnium, SMP Automotive, Polytec Group, Albar Industries Inc., Mercedes AMG GmbH, Changzhou Huwaei, DAR Spoilers, P.U.Tech Spoiler, SRG Global |
| Key Market Opportunities | Rising demand for high-performance cars and lightweight vehicles |
| Key Market Dynamics | Rising demand for High-Speed Cars with Enhanced Aesthetics |
Rear Spoiler Market Highlights:
Frequently Asked Questions (FAQ) :
The global rear spoiler market size was valued at USD 3.8 Billion in 2022.
The global market is projected to grow at a CAGR of 7.50% during the forecast period, 2023-2032.
North America had the largest share of the global market
The key players in the market are Magna International Inc., Plastic Omnium, SMP Automotive, Polytec Group, Albar Industries Inc., and Mercedes AMG GmbH.
The ICE fuel type category dominated the market in 2022.
ABS material had the largest share of the global market.
Senior Research Analyst She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. hands on expertise in management consulting, and extensive knowledge in domain including ict, automotive & transportation and aerospace & defense. she is skilled in go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
