Automotive Rear Spoiler Market

Global Automotive Rear Spoiler Market Snapshot

The global automotive rear spoiler market is estimated at USD 3.6 Billion in 2022 and is forecast to surpass USD 7.1 Billion by 2032, growing at a CAGR of 6.9% from 2022 to 2032.

Report Attributes	Details
Base Year Value (2021A)	USD 3.4 Billion
Estimated Year Value (2022E)	USD 3.6 Billion
Projected Year Value (2032F)	USD 7.1 Billion
Global Growth Rate (2022-2032)	CAGR 6.9%
Europe Market Share in 2021	~25%
Europe Growth Rate (2022-2032)	CAGR 7.2%
Collective Value Share (US, China, India) 2022: Top 3 Countries	~39%
Top 5 Companies Market Share in 2021	~19%
Key Companies Profiled	Plastic Omnium SA Magna International Inc. POLYTEC Holding AG SMP Deutschland GmbH Albar Industries Inc. Rehau Limited SRG Global

The global automotive rear spoiler market accounted around ~1% of the global automotive market in terms of valuation during 2021. The global automotive rear spoiler market is estimated to have an absolute $ opportunity of USD 3.5 Billion during the forecast years of 2022-2032. 

2017-2021 Global Automotive Rear Spoiler Market Outlook in Comparison to 2022-2032 Growth Forecast

The automotive rear spoiler disrupts the air movement by creating the vertical force on the tire, thereby causing traction on the road. The spoiler’s wing-like design creates unfavorable air movement across the car being in motion. Due to the advantages of automotive rear spoiler, the market is estimated to provide a gain of 310 BPS during the forecast years of 2022-2032.

Manufacturers are investing in research and development to provide cars or vehicles with superior aesthetic form, which is expected to enable speedy expansion of the automotive rear spoiler market by 1.3X during forecast years.

Fact.MR projects the automotive rear spoiler market is expected to witness exhibiting growth at 6.9% CAGR during 2022 and 2032 in comparison to a CAGR of 4.9% with which it grew from 2017 and 2021.

Manufacturers Incorporating Innovative Technologies

Lightweight materials such as ABS plastic, fiberglass, silicon, and carbon fiber are being used to produce spoiler. The majority of manufacturers use silicon to produce rear spoilers owing to the benefits of having a longer shelf life and its plasticity. This is expected to create additional demand for automotive rear spoiler systems and support market growth by 1.2X in the coming years.

However, manufacturers are also looking out for new cost-effective materials to produce automotive spoilers. Manufacturers have now started using carbon as a raw material as it is lightweight. But, its high cost is one of the biggest concerns for the manufacturers. The low cost of the production process makes fiberglass, a highly preferred material to produce. This is estimated to provide a gain of 180 BPS to the automotive rear spoiler market in the coming forecast years of 2022-2032.

Innovative technologies such as aerodynamics and active aerodynamics to offer enhanced performance are being focused on by the manufacturers of automotive rear spoilers. Rising vehicle production, rise in use of automotive rear spoilers in SUVs, MUVs, hatchbacks etc. is fueling the market growth of automotive rear spoilers by nearly ~20% in coming years.

Escalating Demand for Lightweight Vehicles to Support Market Growth

As the addition of a rear spoiler reduces the lift of the car, it does not add any weight to the car. Consumers are less likely to lose control over their car as automotive rear spoilers help to keep the car stable at higher speeds. Having a spoiler can take down the weight of the car, which is estimated to provide a gain of 230 BPS to the automotive rear spoiler system market in the coming years.

Additionally, the automotive rear spoilers are made out of lightweight materials, thereby improving and enhancing the driving experience. As the rear spoiler reduces the drag of the car, it fuels efficiency, saves money in tandem with the environment. Thus, growing environmental consciousness is aiding market growth. The escalating demand for lightweight vehicles is also boosting market demand by 1.6X in the coming years.

Aesthetic Appearance of Cars Bolstering Market Growth

The demand for visually appealing cars is always on-trend across the globe. Cars and vehicles with added rear spoilers are highly favored by consumers. Spoilers not only look fantastic but can transform the looks and performance of cars, increasing the aesthetic style of the vehicle.

Manufacturers of vehicles are introducing vehicles that are pre-equipped with automotive rear spoilers to improve control and enhance traction, due to their rising demand. Therefore, the augmented demand for vehicles with rear spoilers due to enhanced aesthetic appearance is boosting the market growth. This is estimated to support market growth by 1/5th or ~20% of current demand levels in coming years.

Region-wise Insights

Which region accounts for more market share in Automotive Rear Spoiler Market?

Europe's automotive rear spoiler market accounts for 25.3% of the overall automotive rear spoiler market share and is projected to grow at a CAGR of 7.2% during forecast years. The high growth is attributed to the growing production and market for sports and luxury cars, which is expected to boost demand for Europe's automotive rear spoiler system market in coming years. 

What is the market scenario in East Asia and South Asia for Automotive Rear Spoiler Market?

East Asia and South Asia automotive rear spoiler market accounts for 20.1% and 19.2% of the automotive rear spoiler market. Collectively, they hold 39.3% of the overall automotive rear spoiler market share respectively. Owing to the augmenting vehicle production and escalating installation of spoilers in SUVs, MVPs, and hatchbacks, all these factors are expected to propel automotive rear spoiler system market growth during the forecast years.

Category-wise Insights

Which material type dominates the Automotive Rear Spoiler Market during the assessment period of 2022-2032?

The automotive rear spoilers are made out of different materials such as plastic, fiber, steel, and fiberglass etc. Amongst them, plastic occupies the largest market share of 28.9%. Owing to the low cost of plastic material and its easy availability for producing rear spoilers, this segment is projected to grow at a CAGR of 7.2% during the assessment period of 2022-2032.

Which technology type is estimated to account for largest market share in Automotive Rear Spoiler Market?

Based on the technology type, blow molding automotive rear spoiler holds 37.6% of the overall market share of the automotive rear spoiler market. The segment is projected to grow at a CAGR of 7.3% during the forecast years owing to the low price of this technology as compared to other technologies that are used in the manufacturing of automotive rear spoilers. Additionally, blow molding technology can be used with different raw materials simultaneously, which is estimated to provide a gain of 185 BPS in the coming forecast years of 2022-2032. 

Competitive Landscape: Top Companies in Automotive Rear Spoiler Market

The global automotive rear spoiler market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced automotive rear spoiler.

Fact.MR has provided detailed information about price points of top manufacturers in automotive rear spoiler market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

1. Magna International Inc. acquired Optimus Ride in 2022. In 2021, it also announced the acquisition of a leader in automotive safety technology, Veoneer. This acquisition will provide Magna, access to new consumers and regions. The ADAS business of Magna will operate drive policy software platform and sensor perception as an independent business unit. The acquisition will strengthen the global engineering and talent base of Magna.
2. Standard Motor Products, Inc. in 2021 announced the acquisition of Stabil Operative Group GmbH. Stabil Group manufactures and distributes a variety of components such as control units, electronic sensors, clamping devices etc. This acquisition is expected to provide the opportunity to expand the product portfolio, provide experienced sales and engineering teams, enhance manufacturing footprint, and create positive synergies for the company.

Global Automotive Rear Spoiler Market Segments

• By Material Type, Global Automotive Rear Spoiler Market is segmented as:

  • ABS Plastic
  • Carbon Fiber
  • Fiberglass
  • Steel

• By Technology Type, Global Automotive Rear Spoiler Market is segmented as:

  • Blow Molding Automotive Rear Spoiler System
  • Injection Molding Automotive Rear Spoiler System
  • Reaction Injection Molding Automotive Rear Spoiler System

• By Vehicle Type, Global Automotive Rear Spoiler Market is segmented as:

  • Passenger Vehicles
  • Commercial Vehicles

• By Sales Channel, Global Automotive Rear Spoiler Market is segmented as:

  • OEM
  • Aftermarket

• By Region, Global Automotive Rear Spoiler Market is segmented as:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA