The rear spoiler market is projected to grow at a CAGR of 7.40% during the forecast period and is projected to reach USD 3.69 Billion by 2022.
"Rear Spoiler Market by Fuel (ICE, BEV), Vehicle Type (Hatchback, SUV, MPV), Material (ABS, Carbon Fibre, Fibre Glass, Sheet Metal), Technology (Blow, Injection and Reaction Injection Molding), and Region - Global Forecast to 2022"
The global rear spoiler market is projected to grow at a CAGR of 7.40% from 2017 to 2022, to reach a market size of USD 3.69 Billion by 2022.
The major factors driving the growth of the rear spoiler market are the increasing production of vehicles, electrification of vehicles, and stringent emission norms introduced by the government to minimize greenhouse gas emissions.
Browse 72 Market Data Tables and 40 Figures spread through 114 Pages and in-depth TOC on "Rear Spoiler Market by Fuel (ICE, BEV), Vehicle Type (Hatchback, SUV, MPV), Material (ABS, Carbon Fibre, Fibre Glass, Sheet Metal), Technology (Blow, Injection and Reaction Injection Molding), and Region - Global Forecast to 2022"
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Injection Molding A high growth potential market
The global rear spoiler market, by technology type, is expected to be dominated by blow molding, followed by injection molding and reaction injection molding.
However, the market for injection molding is estimated to grow at the highest CAGR during the forecast period. Injection molding provides better precision and high manufacturing rate at a lesser cost than reaction injection molding.
However, blow molding is estimated to have the largest share of the rear spoiler market during the forecast period. Simple usage and low cost are the key factors driving the demand for blow molding.
Battery electric vehicle and Hybrid Electric Vehicle Promising vehicle segments for spoiler manufacturers
Hybrid Electric Vehicle (HEV) is estimated to account for the largest share of the rear spoiler market among the electric vehicle types (BEV, HEV, and PHEV). The HEV segment is expected to continue its market dominance during the forecast period.
Modern HEVs are enabled with efficiency-improved technology such as regenerative brakes, electric motor drive, and automatic start/shut-off. The rear spoiler helps to improve the efficiency of the electric vehicle as it saves energy by improving the design of the electric vehicle.
These technological advantages have made HEVs successful in recent years.
Also, in terms of growth, the rear spoiler market for battery electric vehicle is projected to grow at the highest CAGR, followed by PHEV and ICE, respectively. Increasing government support for green vehicles is propelling the demand for electric vehicles, which, in turn, is increasing the demand for rear spoilers.
Asia-Pacific: Largest market for rear spoiler
Asia-Pacific is estimated to account for the largest share, by value and volume, of the rear spoiler market in 2017. Also, in terms of growth, the Asia-Pacific market is projected to grow at the highest CAGR during the forecast period.
Developing economies such as China and India are expected to play a major role on the backdrop of increasing vehicle production. Also, increasing installation of rear spoiler in vehicles such as Hatchbacks, SUVs, and MPVs and stringent emission and safety norms have boosted the demand for the rear spoiler in the Asia-Pacific region.
The report profiles all major players in the rear spoiler market, including Magna International (Canada), Plastic Omnium (France), SMP Automotive (Germany), Polytec Group (Austria), Thai Rung Union Car Plc (Thailand), and INOAC Corporation (Japan) among others.
The report also covers a comprehensive study of the key vendors operating in the rear spoiler market. The evaluation of these vendors has been done by taking into account various factors such as product development, R&D expenditure, business strategies, and product revenue.
The report also explains the qualitative aspects of the rear spoiler market with respect to advanced features and application over the course of time. This report covers the competitive landscape and company profiles of major players in the rear spoiler market.
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