SELLBYVILLE, Del., March 22, 2018
/PRNewswire-iReach/ -- According to a latest research report
by Global Market Insights, Inc. "Rear Spoiler Market is set to be
valued USD 5 billion 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.
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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 segment's
growth. High revenue generation can also be attributed to its
benefits such as reduced weight, cost effectiveness, and
flexibility in design. Injection molding will grow significantly
over the coming years owing to high usage for bulk production.
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.
Enhanced fit and finish of rear spoilers made from ABS plastic
contribute significantly to the product penetration.
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. These products also feature
durability, high strength, lightness, enhanced finish &
appearance of the rear spoiler.
ICE is anticipated to dominate the rear spoiler market over the
forecast timeline. Maintaining car balance at high speeds and
provision of enhanced aerodynamic properties are among the benefits
of rear spoilers, propelling the market growth. High penetration
and infrastructure available to produce IC engines will further
support the product demand from the automobile industry. Rear
spoiler market from hybrid segment is poised to exhibit over 6%
CAGR over the forecast timespan. Strengthening penetration of
hybrid vehicles in various countries globally will support the
industry growth.
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Aftermarket rear spoiler market is anticipated to capture over
75% share over the forecast timeframe. Demand for the aftermarket
products is attributed to low-cost alternatives. OEMs will exhibit
over 5% CAGR over the coming years owing to the consumer's high
level of trust toward these component manufacturers.
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.
Mercedes-AMG GmbH, DAR Spoilers, Polytec Group, Plastic Omnium,
and Mitsubishi are among the prominent players in the rear spoiler
market. Other notable producers include Albar Industries, Magna
International, Plasman Group, and Changzhou Huawei.
Buy this research report spread across 435 pages with 700 market
data tables & 15 figures & charts from the report, "Rear
Spoiler Market Size By Technology (Blow Molding, Injection Molding,
Reaction Injection Molding), By Material (ABS Plastic, Fiberglass,
Carbon Fiber, Sheet Metal), By Fuel [ICE (Internal Combustion
Engine), BEV (Battery Electric Vehicle), Others (Hybrid)], By
Vehicle (Hatchback, SUV (Sports Utility Vehicle), MPV
(Multi-Purpose Vehicle)) By End-Use (OEM, Aftermarket) Industry
Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain,
Russia, Poland, China, Japan,
India, South Korea, Australia, Taiwan, Brazil, Mexico, Argentina, Saudi
Arabia, UAE, South Africa),
Growth Potential, Price Trends, Competitive Market Share &
Forecast, 2017 – 2024" in detail along with the table of
contents @
https://www.gminsights.com/securecheckout/paymenta/2135
Chapter 4 Rear Spoiler Market, By
Technology
4.1 Global rear spoiler 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 rear spoiler 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 rear spoiler market share by fuel,
2016 & 2024
6.2 ICE
6.3 BEV
6.4 Hybrid
Chapter 7 Rear Spoiler Market, By
Vehicle
7.1 Global rear spoiler market share by
vehicle, 2016 & 2024
7.2 Hatchback
7.3 SUV
7.4 MPV
Chapter 8 Rear Spoiler Market, By
End-use
8.1 Global rear spoiler market share by
end-use, 2016 & 2024
8.2 OEM
8.3 Aftermarket
Browse Full Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/rear-spoiler-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research
and consulting service provider; offering syndicated and custom
research reports along with growth consulting services. Our
business intelligence and industry research reports offer clients
with penetrative insights and actionable market data specially
designed and presented to aid strategic decision making. These
exhaustive reports are designed via a proprietary research
methodology and are available for key industries such as chemicals,
advanced materials, technology, renewable energy and
biotechnology.
Media Contact: Arun Hegde,
Global Market Insights, Inc., +13028467766,
sales@gminsights.com
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SOURCE Global Market Insights