Future Market Insights
Increased fuel prices coupled with environmental issues are driving the automotive manufacturers to develop fuel efficient vehicles with lower emissions. Recent years, the need for fuel efficiency is rapidly increasing trend in automotive industries. Hence, extensive research is undergoing for development of aerodynamically optimized vehicle designs. Therefore, the demand for rear spoilers are increasing in the coming years. Rear spoiler is an automotive aerodynamics device which helps to spoil unfavorable air movement across the body of vehicles. Spoilers in the front of vehicles are often called as air dams. Some spoilers are fitted to cars primarily for styling or to have better aerodynamics. These rear spoiler helps to reduce drag and increase the efficiency
Few years back, when oil crisis was not a problem, cars were only designed for comfort, safety and high speed maneuver. However, owing to increasing fuel prices sale of automobiles all over world crippled. Beside the development of fuel cell and electric vehicles, other approached which include reducing the weight of vehicle, integration of electronics in air conditioning system, redesign of car frame and many others. Therefore, rear spoiler also becomes an important components which help to control the aerodynamics of the vehicles.
Rear Spoiler Market: Dynamics
Increasing demand for performance cars coupled with rise in demand for sports models are spurring the demand for rear spoiler market. Nowadays, increasing purchasing of people and people willingness to own a sports model are supporting the demand for rear spoilers. Sport cars manufacturers such as Aston Martin Vanquish, Porsche 911 Turbo S, Audi R8, Bentley, Mercedes and many others are launching new models for their high end luxury cars. Although, luxury vehicles accounts less in worlds vehicle market overall share. However, over the coming next ten years the demand will grow at significant CAGR which in turn increase the demand of rear spoilers.
Rear Spoiler Market: Outlook/Trend
The rising demand of carbon fiber active rear spoilers is one the latest trends that will contribute to the growth of this market in the fore coming years. Carbon fiber are finding a way into new applications in many industries. The automotive industry have witnessed adoption of carbon fiber applications where weight reduction plays a significant role. Moreover, the use of carbon fiber is driven by emission regulations, which demands less fuel by vehicles.
Based on regions, Western Europe is expected to be a major revenue generating region in the global rear spoiler market. Growing demand for performance cars are expected to upsurge the demand of rear spoiler market in North America during the forecast period. North America is expected to witness a relatively faster growth in the coming near future. Owing to the increasing demand for sports model in the region. In APAC (Asia-Pacific), India and China are anticipated to grow at significant rates during the forecast period.
Rear Spoiler Market: Segmentation
On the basis of vehicle type, the rear spoiler market can be segmented into:
On the basis of material type, the rear spoiler market can be segmented into:
On the basis of sales channel, the rear spoiler market can be segmented into:
On the basis of technology, the rear spoiler market can be segmented into:
Reaction Injection Molding
On the basis of fuel, the rear spoiler market can be segmented into:
On the basis of design, the rear spoiler market can be segmented into:
Rear Spoiler Market: Market Participants
Examples of some of the market participants identified in the Rear Spoiler Market across the globe are:
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