By the end of 2022, mid-sized passenger cars are estimated to reach close to US$ 900 million revenue.
[EUPRwire, Fri Oct 05 2018] According to the report by Fact.MR, the global automotive rear spoiler market is expected to witness robust growth. The market is estimated to register 6.9% CAGR during 2017-2022. Generating down force on the body of the car, rear spoiler decreases the amount of air going under the vehicle thereby reducing lift and drag coefficient. Manufacturers are using various materials to develop spoiler. They have started using silicon polymers, as it provides longer product life. However, spoiler manufacturers are also looking for new lightweight material that can be used to develop automotive spoiler. Following are the insights on how the market will perform in the coming years.
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The spoiler is mostly used in sports or high-performance cars, however, they have become common in passenger vehicles. Not only for styling purpose, spoilers are used for reducing drag, thereby offering better performance. Both front and rear spoilers serve their purpose, front spoilers direct the airflow away, whereas rear spoilers minimize turbulence at the rear of the car. Automotive rear spoiler manufacturers are using various lightweight materials in order to develop the spoiler. Most of the manufacturers have starter using silicon and carbon materials as silicon as a material consist high thermal characteristics and offer longer life to the product. Meanwhile, carbon is lightweight and durable, however, is expensive compared to other materials. Regulations on emissions in various countries are also encouraging the use of carbon fiber as a material for the spoiler but due to the cost parameter it is limited to the luxury cars. Owing to the innovative technologies, manufacturers are focusing on developing active aerodynamics that works and operates when the air blows inside the wings allowing the rapid movement.
Europe is likely to remain dominant in the global automotive rear spoiler market. By the end of 2017, Europe automotive rear spoiler market is estimated to account for more than one-fourth of the revenue share on global revenue. Growing market and production of luxury and sports cars is boosting the Europe automotive rear spoiler market.
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Asia Pacific Excluding Japan (APEJ) is likely to witness strong growth during the forecast period. APEJ automotive rear spoiler market is estimated to reach close to US$ 900 million revenue by the end of 2022. Rising vehicle production and increasing installation of spoiler in the MVPs, SUVs, and hatchbacks are some of the factors fueling the growth of the automotive rear spoiler market in APEJ.
Fiberglass is likely to emerge as one of the most preferred materials for the automotive rear spoiler. Fiberglass is estimated to account for nearly one-third of the revenue share by the end of 2017. Meanwhile, carbon fiber will also witness strong growth during the forecast period.
Sales of the automotive rear spoiler is likely to be highest through Aftermarket. By the end of 2022, the aftermarket is estimated to reach nearly US$ 2,800 million revenue.
Mid-sized passenger cars are likely to dominate the global automotive rear spoiler market. By the end of 2022, mid-sized passenger cars are estimated to reach close to US$ 900 million revenue.
Injection molding technology is likely to be the largest used technology in the automotive rear spoiler market. Accounting for nearly two-fifth of the revenue share by the end of 2017, injection molding is estimated to create an incremental opportunity of more than US$ 300 million during 2017-2022.
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