Global Automotive Rear Spoiler Market Is Forecast To Surpass USD 7.1 Billion By 2032

Global Automotive Rear Spoiler Industry Outlook in 2022 and Beyond

The Automotive Rear Spoiler industry is looking forward to 2021 with a sense of optimism. In 2020, Automotive Rear Spoiler sales recovered in the last quarter to salvage lost momentum during March-April 2020. And, as vaccine rollout gains momentum, most automakers are hoping for better performance in 2021.

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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

US Automotive Rear Spoiler Industry Set to Recover in 2022

In 2020, US Automotive Rear Spoiler sales were to the tune of 17.1 million. The outbreak of COVID-19 in early 2020, and subsequent shutdown created apprehensions that 2020 may be the worst year for US auto industry since Great Depression.

However, Automotive Rear Spoiler sales climbed back slowly in US, partly helped by a quick shift to online sales. Many US automakers are now investing highly in online sales channel, with 2021 expected to witness high online sales.

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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:

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.
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.

Europe Automotive Rear Spoiler Market Players Can Benefit from Foreign Exports

The Europe automobile market is also likely to witness a recovery in 2021. The European Automobile Manufacturers' Association is hoping for a 10% increase in sales.

As is the case in US, European auto industry is hoping that vaccine inoculation brings the pandemic under control. Many countries in Europe have witnessed severe waves of COVID-19 pandemic, and are now in recovery phase.

While the domestic Automotive Rear Spoiler demand is likely to recover at a steady pace in Europe, exports to China, Latin America, and Asia Pacific are likely to induce momentum for European auto companies.

China will Further its Lead as World's Largest Automotive Rear Spoiler Market

The Automotive Rear Spoiler industry in China represents the brightest optimism for any country globally. The pandemic recovery in China is at an advanced stage as compared to western countries. Further, the government in China is focusing on a massive infrastructure push, which is likely to help automakers exporting their wares to China.

China is the only major economy to have grown in 2020, and country's China Association of Automobile Manufacturers is forecasting 26 million sales in 2021. Volkswagen Group and General Motors are likely to maintain their position as the country's largest foreign automakers.

China is the world's largest automobile market, and going by the economic scenario and COVID-19 recovery, the country is likely to remain at numero uno position in the future as well.

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Indian Automotive Rear Spoiler Outlook Subdued by COVID-19 Resurgence

The Indian automobile industry is beset with challenges arising due to a nation-wide second wave of COVID-19 epidemic. Things were looking up for the Indian automobile industry, however, lockdown measure to contain a more virulent COVID-19 can dent overall sales in 2021.

The localized restrictions imposed by governments can have an impact on dealership activity, logistics, and in-showroom consumer visits. Also, it is anticipated that India may have to brace up for further waves of COVID-19, which can dent consumer sentiment.

Key Long-term Trends

Overall, the Automotive Rear Spoiler industry is looking for a recovery year in 2021. While China is anticipated to take the lead, healthy recovery in US and Europe markets will create necessary impetus. Amidst the recovery phase, there will be some mega trends and some subtle trends that will have a bearing on Automotive Rear Spoiler market in the long run. These include,

Automotive Rear Spoiler digital retail

Automotive Rear Spoiler digital retail will make further inroads in 2021. As localized restrictions and consumer discretion increase due to COVID-19, more consumers are opening up to the idea of online automobile purchase. This trend is likely to become stronger in 2021, especially in US and Western Europe

Further gains in connected and autonomous cars

Connected and autonomous cars may have lost some of their momentum in 2020, but their long-term forecast remains bullish. Automakers are increasingly aware of the white space Silicon Valley giants are eyeing. In the long run, an increase in proprietary software of partnership with tech companies will be in the offing.

Electric vehicle sales will continue unabated

The sales of electric vehicles have grown from strength to strength, dispelling the skepticism and early apprehensions. The focus now is on developing a scalable production model and enough charging stations so consumers are confident of investing in the technology of tomorrow.

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