Market Highlights
The rear spoiler is used to provide aerodynamic property and reduce the imbalance in vehicles while turning. Spoilers are mainly used in sports cars while racing. Nowadays, they are also installed in passenger vehicles for styling. In sports cars, the air movement affects the balance of the car. This air movement affects the movability of the car, which can lead to accidents. To cut the air flow, rear spoiler is used widely to reduce the chance of accidents. Innovation in technology is an important aspect of the automotive industry. In rear spoiler, there are various materials that are used to reduce the weight of the spoiler. Various materials such as ABS, carbon fibre, fibre glass, and sheet metal are used to manufacture the rear spoiler. ABS is widely used in the car because it improves the fuel efficiency of the vehicle by reducing the weight of the spoiler. This shows that technology is one of the important factors affecting the sales of the automotive industry.
The rear spoiler market is expected to grow at a CAGR of around 7.50% during the period 2017 to 2023.
Key Players
The key players in global rear spoiler market are Magna International Inc. (Canada), Plastic Omnium (France), SMP Automotive (Germany), and Polytec Group (Austria), Albar Industries, Inc. (U.S.), Mercedes-AMG GmbH (Germany), Changzhou Huawei (China), DAR Spoilers (U.S.), P.U. Tech Spoiler (Malaysia), and SRG Global (U.S.).
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Based on region, the market is segmented based on North America, Asia Pacific, Europe, and Rest of the World. In Asia Pacific region, there has been an increase in the production of new vehicles in countries such as India, China, and Japan. The major growth in Asia Pacific is due to the increase in the use of rear spoiler because of its ability to provide better fuel efficiency and traction. The growth of the component manufacturers has been taken a different route than other regions. The Japanese producers have followed a strong relationship with their suppliers. The rising competition and increase in the trade globally have led to the improved distribution system across developing nations. China is one of the major automotive markets in Asia. The automotive industry continues to grow in China due to increased production of passenger and commercial vehicles.
FDI is one of the major factors for the growth of automotive industry in China. The automakers in China are developing new and trade friendly policies that enable them to produce larger number of vehicles. The increase in the production of vehicle will lead to the growth of rear spoiler market during the forecast period. In North America, U.S. is expected to dominate the market due to increase in income and job gains, which will enable them to buy more vehicles. The automotive market in the U.S. has been powered by low interest rate and low fuel price, which has allowed the market to grow during the forecast period. Buying conditions will remain positive due to the low interest rate and will boost the sales of the new vehicle. This increase in sale of new vehicle will lead to the growth of rear spoiler market.
Industry/ Innovation/ Related News:
March, 2018 - Mercedes-Benz, along with local player Thonburi Automotive Assembly Plant (TAAP), plans to invest 100 million euros in in the Thailand region by 2020 creating more than 300 jobs in the direct and indirect market. This investment will aid in expansion of an existing car plant and a new hybrid battery assembly set up in the area. The investment will create over 300 additional jobs.
March, 2018– Canadian automotive parts supplier Magna International Inc. plans to supply seating arrangement solutions to the mighty BMW Group. Magna was joined by South Carolina Governor McMaster, members of local governing body and BMW officials to inaugurate Magna’s new seat production facility in Spartanburg, South Carolina. Magna announced expansion plans for this plant to the tune of 25,000 square feet and an adding 130 jobs. Thus, Magna will create 600 odd jobs at the 250,000-square-foot facility.
Scope of the Report
This study provides an overview of the global rear spoiler market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global rear spoilers market by its fuel type, material, technology, and vehicle type, and region
By Fuel Type
- ICE
- BEV
- Others
By Material
- ABS
- Carbon Fibre
- Fibre Glass
- Sheet Metal
By Technology
- Blow Molding
- Injection
- Reaction Injection Molding
By Vehicle Type
- Hatchback
- SUV
- Others
By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
Automotive Rear Spoiler Market: Regional Analysis
The North America market (U.S. and Canada in particular) is known to have a high demand for large SUVs and mini trucks. This is because people here prefer taking out their personal vehicles than the public transport system for personal work related travel and leisure activities. This will drive the demand for the automotive rear spoilers in this market. The Asia Pacific region is considered to be the next automotive hub of the world with the rising middle class and purchase power of the people in this region. This gives the rear spoiler system ample scope for growth in this region. The Europe market has always produced some of the most high tech and sophisticated vehicles in the history of automotive industry. Thus, the rear spoiler will only add to the technological sophistication and overall vehicle efficiency making this region a strong contender for the growth of the rear spoiler system.
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