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Active Spoiler Market Rising Trends, Key Leading Players, Trends Analysis, Industry Share And Forecast To 2033
Active Spoiler Market Rising Trends
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According to The Business Research Company's, The active spoiler market size has grown strongly in recent years. It will grow from $3.31 billion in 2023 to $3.56 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to increased focus on aerodynamics, rise in high-performance vehicles, increasing consumer demand for safety, increasing popularity of electric vehicles, and increasing production of luxury vehicles.
The active spoiler market size is expected to see strong growth in the next few years. It will grow to $4.84 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to increasing demand for fuel efficiency, growing automotive production, growing concerns over the environmental impact, increasing use of lightweight materials, increasing global supply chain, and growing adoption of autonomous vehicles. Major trends in the forecast period include technological advancement, integration of advanced aerodynamic features, hybrid vehicles, adoption of AI, and connected vehicle technologies.
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Market Drivers and Trends:
The increasing vehicle production is expected to propel the growth of the active spoiler market going forward. Vehicle production refers to manufacturing vehicles, including cars, trucks, motorcycles, and other types of motor vehicles. The increase in vehicle production is due to demand for electric vehicles (EVs), autonomous driving, and improved manufacturing processes, boosting production capabilities. Active spoilers play a crucial role in modern automotive production by integrating advanced aerodynamic solutions that improve vehicle performance, handling, efficiency, and safety. Their implementation underscores the industry's ongoing pursuit of innovation, vehicle dynamics, and design improvement. For instance, in 2023, according to the International Organization of Automobile Manufacturers (OICA), a France-based automobile manufacturer, the international automobile sector witnessed tremendous expansion in 2022, with total vehicle production hitting 84.83 million units, up significantly from 80.00 million units in 2021. Therefore, increased vehicle production is driving the growth of the active spoiler market.
Major companies operating in the active spoiler market are focused on developing innovative products, such as cutting-edge spoilers, to improve vehicle performance and incorporate advanced materials and smart technologies for optimal functionality. Cutting-edge spoilers refer to advanced aerodynamic devices installed on vehicles, typically cars, to enhance their performance and stability. For instance, in 2021, Roush Performance Products, Inc., a US-based automotive company, launched the Active Aerodynamic Carbon Fiber Rear Spoiler for the Roush Stage 3 Mustang. This cutting-edge spoiler integrates advanced materials and dynamic functionality to boost speed and handling on track and road. Its active aerodynamics adjust in real-time, optimizing downforce and drag based on speed and conditions. It is made of lightweight carbon fiber, which reduces weight and improves agility and stability during high-speed movements.
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Major Key Players of the Market:
Volkswagen AG, Toyota Motor Corporation, Ford Motor Company, Mercedes-Benz AG, Bayerische Motoren Werke AG, Tesla Inc., Audi AG, ZF Friedrichshafen AG, Continental AG, Valeo S.A., Ferrari S.p.A., Lexus, Aston Martin Lagonda Global Holdings plc, DaikyoNishikawa Corporation, Polytec Group, Extreme Dimensions Inc., Eakas Corporation, CarID, Pagani Automobili S.p.A., Bugatti Automobiles S.A.S., Kuhl Corporation, AC Schnitzer, Seibon International Inc.
Active Spoiler Market 2024 Key Insights:
• The active spoiler market size is expected to see strong growth in the next few years. It will grow to $4.84 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
• Impact Of Increased Vehicle Production On The Active Spoiler Market
• Roush Performance's Cutting-Edge Active Spoiler For The Mustang
• North America was the largest region in the active spoiler market in 2023
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