Rear spoiler market from Carbon fiber to witness more than 7% CAGR over the coming years. High acceptance from sports utility and high-speed vehicles will primarily drive the rear spoiler market. High preference by aftermarket participants owing to flexibility in customization done by independent service providers will further escalate the industry growth. The substantial growth can also be attributed to provision of the benefits such as light weight, high strength, enhanced appearance & finish, and durability.
Rear spoiler market from ABS plastic will account for highest revenue share of more than 40% till 2024. Shifting manufacturers preference towards usage of ABS materials owing to their beneficial chemical properties, that offer protection against dents and heat resistance.
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North America rear spoiler market will capture highest revenue share accounting for approximately USD 2 billion till 2024. Rising demand for improved rear spoilers owing to increased production of high-speed cars will drive the regional growth. High sales of SUVs across the region will contribute significantly to the revenue generation. Moreover, drop in prices of these vehicles will further support the region’s dominance over the next eight years.
With a tremendously high demand and rise in popularity, SUVs are likely to be installed with high grade rear spoilers in order to enhance their performance. SUVs were the leading vehicle segment in rear spoiler market in 2016, having held over 65% of the overall share, subject to the demand for lightweight vehicles and the necessity of improved aerodynamics. Most companies in rear spoiler market have been experimenting with innovative product designs to suitably fit the requirements of major automakers. In August 2011, Mitsubishi introduced the SUV Outlander equipped with highly upgraded features in rear spoilers. It is undeniable therefore, that rear spoiler market size would massively benefit from SUV sales over 2017-2024.
In recent times, a global upsurge has been observed in SUV sales, plausibly on account of the fact that they provide extensive legroom, headroom, and storage space. With rising preferences for SUVs and the increasing production capacities of automakers, rear spoilers are likely to observe a rise in installations, thereby boosting rear spoiler market size. The demand for SUVs in particular, will have a commendable impact on the sales graph of rear spoiler industry, as is evidenced by the statistics below:
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Industry players are continuously focusing on development of aerodynamic impact of cars for enhancement of fuel efficiency. They are using high-strength and lightweight materials coupled with reinforcement materials for overall weight reduction of the product without compromising with performance.
DAR Spoilers, Plastic Omnium, Polytec Group, Mitsubishi, and Mercedes-AMG Gmbh are among the key players in the rear spoiler market. Other noticeable participants include Plasman Group, Changzhou Huawei, Magna International, and Albar Industries.
Chapter 4 By Technology
4.1 Global market share by technology, 2016 & 2024
4.2 Blow Molding
4.3 Injection molding
4.4 Reaction injection molding
Chapter 5 By Material
5.1 Global market share by material, 2016 & 2024
5.2 ABS Plastic
5.4 Carbon fiber
5.5 Sheet Metal
Chapter 6 By Fuel
6.1 Global market share by fuel, 2016 & 2024
Chapter 7 By Vehicle
7.1 Global market share by vehicle, 2016 & 2024
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