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
“Increasing stringency of vehicle emission norms in developed regions, improving socioeconomic conditions in developing regions, and growing demand for electric and hybrid vehicles across the globe to fuel the demand for rear spoilers”
The global rear spoiler market is projected to grow at a CAGR of 7.40% from 2017 to 2022, to reach USD 3.69 billion by 2022. The major factors driving the growth of the market include growing electrification of vehicles and the increasing production of multi-purpose vehicles (MPVs) and sport utility vehicles (SUVs) in developed regions such as Europe and North America. On the other hand, the increasing usage of integrated spoiler may pose a challenge to the growth of the rear spoiler market.
“SUVs and MPVs are estimated to show high growth potential”
The rear spoiler market for MPVs is estimated to grow at the highest rate during the forecast period. The growth of the rear spoiler market can be attributed to the increasing demand for SUV and MPV owing to their benefits of enhanced safety and comfort. SUVs are estimated to have the largest share of the rear spoiler market in the next five years. This can be attributed to the increased production and demand for SUVs across the globe.
“Increasing demand for safety and fuel-efficient vehicles would drive the rear spoiler market in Asia-Pacific region”
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, the increasing installation of spoilers in vehicles such as SUVs, MPVs, and Hatchbacks would add to the demand for automotive spoilers.
The study contains insights of various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: Tier 1 – 42%, Tier 2 – 40%, Tier 3– 18%
• By Designation: C level – 57%, D level – 29%, Others – 14%
• By Region: North America – 34%, Europe – 28%, Asia-Pacific – 27%, RoW – 11%
Major players profiled in the report are:
Thai Rung Union Car PLC
Jiangnan Mould and Plastic Technology Co. LTD
Albar Industries Inc.
P.U. Tech Spoiler
The report segments the rear spoiler market and forecasts its size, by volume and value, on the basis of region (Asia-Pacific, Europe, North America, and RoW), fuel type (ICE,BEV, and Others (HEV and PHEV)), vehicle type (Hatchback, SUV, and MPV), technology type (blow molding, injection molding, and reaction injection molding), and material type (ABS, carbon fiber, fiberglass, and sheet metal compound).
Reasons to Buy the Report:
This report contains various levels of analysis including industry analysis, competitive leadership mapping, and company profiles, which together comprise and discuss the basic views on the emerging and high growth segments of the rear spoiler market, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
The report enables new entrants and smaller firms as well as established firms to understand the market better to help them acquire a larger market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
The report provides insights into the following points:
• Market Penetration: The report offers comprehensive information about the rear spoiler market and the top 12 players in the market.
• Product Development/Innovation: The report provides detailed insights into upcoming technologies and new product launches in the rear spoiler market.
• Market Development: The report analyzes the market for rear spoiler across regions and provides comprehensive information about lucrative emerging markets.
• Market Diversification: The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the rear spoiler market.