Rear Spoiler Market Share: Exploring Opportunities with Market Size and Growth Projections

Posted by Kumar on April 26th, 2023

The demand for SUVs and MPVs from the younger generation is driving the growth of the Global Rear Spoiler market, which is projected to achieve a CAGR of over 7% by 2027. The Ice segment currently holds the largest market share in the Rear Spoiler market in 2021, and it is expected to maintain its dominance over the next five years due to its low production cost. In addition, the hatchback segment is the market leader in terms of vehicle segment, thanks to its affordable cost and compact size.

Rear spoilers are aerodynamic devices used to alter the air movement across a vehicle, typically wing-shaped components installed on the boot or roof end. Spoilers are manufactured using lightweight polymer-based materials like silicon, carbon fiber, fiberglass, and Acrylonitrile Butadiene Styrene (ABS) plastic, utilizing blow, injection, and reaction injection molding. The primary function of the spoiler is to diffuse airflow and turbulence and is commonly fitted on sports and racing cars to create favorable conditions for high speed and minimize drag.

The global automotive industry's significant growth is one of the key factors contributing to the market's positive outlook. Additionally, the increasing consumer preference for sport utility vehicles (SUVs) and multi-purpose vehicles (MPVs) is providing a boost to market growth. Luxury and sports vehicle manufacturers are launching models with pre-equipped rear spoilers to enhance traction and improve maneuverability at high speeds. Moreover, the increasing demand for safe and fuel-efficient automobiles is also driving the market's growth.

Innovations such as the development of carbon fiber-based rear spoilers in aesthetically appealing designs and high functionalities are acting as other growth-inducing factors. These novel variants provide enhanced crash protection, fuel efficiency, and aerodynamic capabilities. Rising consumer spending capacities, along with the implementation of design standards and regulations to minimize carbon emissions, are expected to drive market growth.

Recent developments in the market include Motherson and UBQ Materials' collaboration to develop car parts in December 2020 and Magna International and Altran's joint venture to build a new engineering center in Morocco in October 2018.

Several major players, including Plastic Omnium, Magna International, Albar Industries Inc., Thai Rung Union Car PLC, SMP Automotive, Jiangnan Mould and Plastic Technology Co., Ltd., Inoac Corporation, Rehau Ltd, and Polytec Group, are involved in Rear Spoiler operations.

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Objective of the Study:

• This report aims to evaluate the global demand and supply of Rear Spoiler, including production, demand, and supply. It also seeks to analyze and predict the volume and value of the Rear Spoiler market. The report will classify and forecast the global Rear Spoiler market based on vehicle type, fuel type, material type, and regional distribution.
• Furthermore, the report will identify the drivers and challenges of the global Rear Spoiler market. It will examine competitive developments, such as expansions, new product launches, and mergers and acquisitions, in the global Rear Spoiler market. Finally, the report will identify and analyze the profiles of leading players involved in the manufacturing of global Rear Spoiler to provide a comprehensive overview of the market.

To perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of Rear Spoiler manufacturers operating globally. Subsequently, TechSci Research conducted primary research surveys, which include primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analysed product offerings and regional presence of all major Rear Spoiler supplier across the globe.

TechSci Research calculated the market size for Global Rear Spoiler using a bottom-up technique, wherein manufacturers’ volume sales data for different applications, were recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analysing historical sales data of respective manufacturer to arrive at the overall market size. Multiple secondary sources such as directories, Company Websites, company annual reports, white papers, investor presentations and financial reports were also used by TechSci Research.

Key Target Audience:

• Raw material suppliers
• Rear Spoiler manufacturers
• Distributors and suppliers of rear spoiler
• Automotive OEMs
• Research Institutes
• Associations, organizations, forums and alliances related to Rear Spoiler.
• Industry associations
• Market research and consulting firm.

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Rear Spoiler manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

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