Rear Spoiler Market to hit USD 5 billion by 2024

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Rear Spoiler Market Analysis Report, Trends and
Forecast, 2017-2024
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Key Insights from Rear Spoiler Market

• Global 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.
• Shifting preference towards electric vehicles
  coupled with rising government support for the
  adoption of these vehicles will further
  strengthen the product penetration. Various
  countries across the globe have taken initiatives
  such as providing subsidies and incentives for
  their production. Indian government has invested
  USD 11.5 million for electric vehicle production
  that was further increased by 42 in 2017.
• Blow molding is likely to account for highest
  rear spoiler market revenue share surpassing USD
  2 billion till 2024. High usage of this
  technology for production of plastic spoilers
  will primarily drive the segments growth.

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Continued...

• 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.
• Currently, multiple cars are equipped with rear
  spoilers to enhance their fuel efficiency and
  minimize the accident rates. Few customers also
  install rear spoilers for aesthetic benefits,
  thereby increasing the product demand. Mass
  production of composite materials is likely to
  reduce the raw material cost over the coming
  years. This will result in reduction of overall
  cost of rear spoilers and generate a higher
  demand.
• 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.

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U.S. Rear Spoiler Market, By Technology, 2016
2024, (Million Units)

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Major Companies in Rear Spoiler Market

• Mercedes-AMG GmbH
• DAR Spoilers
• Polytec Group
• Plastic Omnium
• Mitsubishi
• Albar Industries
• Magna International
• Plasman Group
• Changzhou Huawei

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Industry Coverage

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Regional Insights in Rear Spoiler Market

• 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 regions
  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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