It is estimated for the global rear spoiler market to witness to grow at a CAGR of 7.9% during the forecast period of 2022 to 2030. The market witnessed healthy growth even during the previous forecast period of 2018 to 2021. Strict stringency of emission rules, norms about fuel economy, and increasing demand for SUVs and MPVs across the world are the factors that are boosting the growth of the market during the forecast period.
Owing to the benefits of having a longer shelf life and its plasticity, the majority of manufacturers use silicon to produce rear spoilers. This is expected to create additional demand for automotive rear spoiler systems and support market growth.
Also, the manufacturers are researching some cost-effective materials to manufacture automotive spoilers. Thus, they have now started adopting carbon as a raw material as it is lightweight. But, its higher cost is one of the prime concerns on the part of manufacturers.
Key Market Trends:
Strict stringency of emission rules, norms about fuel economy, and increasing demand for SUVs and MPVs across the world are the factors that are boosting the growth of the market during the forecast period.
Emerging technologies such as aerodynamics and active aerodynamics to produce enhanced performance are being aimed at by the producers of automotive rear spoilers.
Also, increasing vehicle production, and the increase in the use of automotive rear spoilers in SUVs, MUVs, hatchbacks etc. is driving the growth of the market and the trend is estimated to continue throughout the forecast period.
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Segmental Analysis Of The Market:
By Technology Type
- Blow Molding
- Injection Molding
- Reaction Injection Molding
Blow molding segment to boost the growth of the market during the forecast period.
By Material Type
- ABS
- Carbon Fiber
- Fiberglass
- Sheet Metal
The sheet metal segment to drive the growth of the market during the forecast period.
By Fuel Type
- BEV
- ICE
- Others (Hybrid)
The BEV segment to drive the growth of the market during the forecast period.
By Vehicle Type
- Hatchback
- SUV
- MPV
The SUV segment to drive the growth of the market during the forecast period.
Asia Pacific region to witness growth at a the fastest pace
Owing to the higher population in the region leading to higher number of construction activities is boosting the growth of the market during the forecast period. The leading disposable income of the people is also estimated to drive the growth of the market in the region during the forecast period. The region of Europe is estimated to follow the region of Asia Pacific.
Competitive Landscape:
Some of the prominent companies operating in the market are:
- Magna International (Canada)
- Plastic Omnium (France)
- SMP Automotive (Germany)
- Polytec Group (Austria)
- Thai Rung Union Car Plc (Thailand)
- INOAC Corporation (Japan)
Major Questions Answered In This Report:
- What is the growth rate of the global rear spoiler market?
- What are the primary growth determinants of the market?
- Which are the major regions constituting the geographical landscape of the market?
- Which are the prominent companies operating in the market?
Key Takeaways From The Report:
- It is estimated for the global rear spoiler market to witness to grow at a CAGR of 7.9% during the forecast period of 2022 to 2030.
- Strict stringency of emission rules, norms about fuel economy, and increasing demand for SUVs and MPVs across the world are the factors that are boosting the growth of the market during the forecast period.
- Emerging technologies such as aerodynamics and active aerodynamics to produce enhanced performance are being aimed on by the producers of automotive rear spoilers.
- Owing to the benefits of having a longer shelf life and its plasticity, the majority of manufacturers use silicon to produce rear spoilers. This is expected to create additional demand for automotive rear spoiler systems and support market growth.
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