Press release
Rear Spoiler Market to witness huge growth by 2024: Leading Players – (Mercedes-AMG, Magna International, Mitsubishi Motors, Plastic Omnium, REHAU, SMP Automotive, SRG Global)
Rear Spoiler Market
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Industry Growth drivers:
1. Increasing preference for SUVs
2. Technological advancement in automotive industry
3. Increasing demand for green vehicles
4. Growth in passenger vehicle sales
5. Rising investments by well-established players
6. Strengthening of luxury car market
Rear spoiler market share is expected to cross 44 million units by 2024. Rising adoption in SUVs, hatchbacks, and MPVs along with increasing SUVs sales will primarily drive the industry growth. Automobile industry is witnessing regular advancements for overall weight reduction thereby installing the plastic components. These advancements are anticipated to induce immense growth potential to the rear spoiler market size over the next eight years.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Albar Industries, Inc.
2. Anderson Composites
3. Mercedes-AMG GmbH
4. Changzhou Huawei
5. DAR Spoilers
6. Hamann
7. Inoac Corporation
8. Jiangnan Mould and Plastic Technology Co., Ltd.
9. Magna International, Inc.
10. Mitsubishi
11. Mugen
12. Plasman Group
13. Plastic Omnium
14. Polytec Group
15. SMP Automotive
16. SRG Global
17. Seibon Carbon
Rear Spoiler Market by Technology
• Blow molding
• Injection molding
• Reaction injection molding
Rear Spoiler Market by Material
• ABS plastic
• Fiberglass
• Carbon fiber
• Sheet metal
Rear Spoiler Market by Fuel
• ICE (Internal Combustion Engine)
• BEV (Battery Electric Vehicle)
• Others (Hybrid)
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ABS plastic is likely to capture significant market share of over 40% during the forecast timeframe. ABS materials are preferred for product manufacturing owing to their chemical properties, that make them resistant to heat and provide protection against dents. Enhanced fit and finish of rear spoilers made from ABS plastic contribute significantly to the product penetration.
Carbon fiber will exhibit the highest CAGR of over 7% from 2017 to 2024. Increasing demand from high-speed and sports utility vehicles will majorly support the substantial growth. Carbon fiber is preferred by aftermarket players as customization is done by the independent service providers. These products also feature durability, high strength, lightness, enhanced finish & appearance of the rear spoiler.
North America will dominate the global rear spoiler market surpassing USD 1.8 billion till 2024. High demand for enhanced rear spoilers due to rising demand of high speed car will primarily drive the industry growth. SUVs account for major share in North America, stimulating the demand for rear spoilers in the region. Drop in prices of SUVs in the region will escalate the growth of utility vehicles, supporting the region’s dominance over the coming years.
Europe rear spoiler market will depict a steady growth over the forecast period owing to recovering economies and the presence of giant automakers across the region. Industry players are engaged in research activities for enhancements in product performance and material quality, propelling the growth. high penetration of electric vehicles in countries including Netherlands, Sweden will further support the regional growth till 2024.
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Mercedes-AMG GmbH, DAR Spoilers, Polytec Group, Plastic Omnium, and Mitsubishi are among the prominent players in the rear spoiler market. Other notable producers include Albar Industries, Magna International, Plasman Group, and Changzhou Huawei. Industry participants are focusing on developing aerodynamic effect of cars to improve fuel efficiency. They are using lightweight and high-strength materials along with reinforcement materials to reduce the overall weight of the product without compromising on its performance.
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