Rear Spoiler Market To Gain Massive Proceeds By 2024
Aftermarket is presumed to hold over 75% of rear spoiler market share over the forecast timeframe. This is because the aftermarket allows the utilization of the low cost alternatives. Attributed to the growing preferences for car customizations, rear spoiler aftermarket will continue to emerge as a major segment throughout the forecast timeframe.
Ever-increasing automobile production coupled with growing customer inclinations toward high performance and aesthetically pleasing automobiles will drive rear spoiler market share. A spoiler not only enhances vehicle aesthetic but also improves the vehicle stability at higher speeds by creating a downforce from the air passing over it.
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Industry players are consistently evolving the product parameters by manufacturing spoilers with reduced weight and increased downforce. For this, the manufacturers have been preferring for advanced materials such as carbon fiber and reinforced fiberglass. Growing proliferation of high performance cars which necessitates light-weight body parts may accelerate the rear spoiler market outlook.
Some of the car manufacturers have been focusing on innovative spoiler systems that hides the spoilers when not required and reopens them as when necessary for highway rides. For instance, in 2017, Porsche launched its new Panamera Saloon Turbo model featuring a hidden retractable rear spoiler with rising and extending operations. Such innovations will further foster the product penetration over the forecast period. As per a research report, rear spoiler market size will amass USD 5 billion by 2024.
The different technologies used for the rear spoiler manufacturing include blow molding, injection molding and reaction injection molding. Blow molding is projected to hold the largest market share by 2024 – the segment size may be close to USD 2 billion by 2024. The technology finds highest usage in the production of plastic spoilers – thus, the escalating demand for plastic spoilers will in turn benefit the blow molding segment growth.
The benefits of high tolerance to chemicals, heat and dents will foster the product deployment subsequently fostering the segmental share. In addition, the ABS plastic spoilers offer enhanced fitting and finishing further boosting the product penetration. Owing to extensive usage across the premium automotive variants like SUVs and sports cars, ABS plastic is predicted to account for a substantial share of over 40% by 2024.
North America has been witnessing rising demand for high performance cars and SUVs which will primarily drive the regional growth. As the product is extensively used in the SUVs, drop in SUV prices will augment high demand for the rear spoilers. Owing to the escalating growth of utility vehicles in the region, the North America rear spoiler market will emerge as the major revenue pocket by accumulating over USD 1.8 billion by 2024.
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Partial Chapter of the Table of Content
Chapter 4 Rear Spoiler Market, By Technology
4.1 Global market share by technology, 2016 & 2024
4.2 Blow Molding
4.3 Injection molding
4.4 Reaction injection molding
Chapter 5 Rear Spoiler Market, By Material
5.1 Global market share by material, 2016 & 2024
5.2 ABS Plastic
5.3 Fiberglass
5.4 Carbon fiber
5.5 Sheet Metal
Chapter 6 Rear Spoiler Market, By Fuel
6.1 Global market share by fuel, 2016 & 2024
6.2 ICE
6.3 BEV
6.4 Hybrid
Chapter 7 Rear Spoiler Industry, By Vehicle
7.1 Global market share by vehicle, 2016 & 2024
7.2 Hatchback
7.3 SUV
7.4 MPV
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