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I AgreeAnalysis of Automotive Rear Spoiler market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
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 |
|
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.
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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.
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.
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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.
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.
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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.
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.
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.
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.
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.
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The global value of automotive rear spoiler market is estimated to be worth over USD 3.6 Billion in 2022.
The demand is anticipated to surpass USD 7.1 Billion by 2032 end.
During 2017-2021, global automotive rear spoiler market grew at 4.9% CAGR.
Some of the prominent players in automotive rear spoiler market are Plastic Omnium SA, Magna International Inc., POLYTEC Holding AG, SMP Deutschland GmbH, etc.
Europe tops the global automotive rear spoiler market accounting for 25.3% of global market share in 2022.
Blow molding automotive rear spoiler system contributes 37.6% of market share in global sales of automotive rear spoiler.