Rear Spoiler Market: Rapidly Evolving Industry…… COVID-19….


The global rear spoiler market size is expected to reach USD 7.30 billion by 2025, according to a study conducted by Grand View Research, Inc., progressing at a CAGR of 7.9% during the forecast period. Soaring need for safe and fuel-efficient vehicles is boosting the adoption of rear spoilers. They provide increased braking stability that offers drivers enhanced braking time at high speed.
The automotive & transportation industry is amongst the most exposed verticals to the ongoing COVID-19 outbreak and is currently amidst unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. The industry's concern has moved on from being centered on supply chain disruption from China to the overall slump in demand for automotive products. The demand for commercial vehicles is expected to plummet with the shutdown of all non-essential services. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. Meanwhile, liquidity shortfall and cash crunch have already impacted the sales of fleet operators, which is further expected to widen over the next few months. We are continuously monitoring the COVID-19 pandemic, and assessing its impact on the growth of the automotive & transportation industry. The report will account for Covid19 as a key market contributor.
The North America region is anticipated to witness considerable growth over the coming years due to domicile of rear spoiler providers such as Magna International and DAR Spoilers. Additionally, stringent emission control norms are encouraging users to invest in rear spoilers. They reduce the drag by pushing air around the vehicle, which assists in gaining fuel efficiency. Growing emphasis on enhanced fuel efficiency is triggering the growth of the market in developing regions. Prominent automobile companies such as Aisin Seiki Co, Ltd are making significant investments in countries such as China.
However, high costs of installation and maintenance may hamper the growth of the market over the forecast period. In order to address the challenge, rear spoiler providers often offer appropriate devices at affordable prices along with post-sale services for building customer confidence.
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/rear-spoiler-market/request/rs1
Further key findings from the study suggest:
·         The green vehicles segment is expected to be the fastest growing segment with a CAGR of over 8.0% during the forecast period, owing to benefits such as low maintenance costs
·         Active spoilers offer benefits such as high aesthetics and reduced torque. The segment is likely to dominate the market throughout the forecast period, accounting for more than 60.0% of the overall revenue by 2025
·         North America is estimated to be the most promising region over the forecast period owing to domicile of a large number of key players
·         Some of the prominent companies operating in the market are Magna International Inc.; Plastic Omnium; Aisin Seiki Co.; Ltd; DAR Spoilers; INOAC Corporation; and SMP Group.
The global rear spoiler market size was valued at USD 3.81 billion in 2016. Growing demand for safe and fuel-efficient vehicles and increasing sales of SUVs and MUVs are the key trends escalating market growth. Additionally, increasing fuel costs are encouraging users to invest in rear spoilers. They push air around the vehicle to reduce the drag, which assists in augmenting fuel efficiency.
Stringent emission control norms in various regions are also compelling automobile players to invest in rear spoilers. For instance, European Union introduced a directive in 2015, Euro 6, with an aim to reduce harmful car and van exhaust emissions. All the vehicles manufactured from that year were mandated to meet the emission requirements.
Rear spoilers are aerodynamic devices that ‘spoil’ unfavorable air movement around the vehicle when in motion. Through this function, drivers experience enhanced braking time. Heightened awareness regarding the benefit of rear spoilers is driving the market.
However, high costs of installation and maintenance are likely to hamper the growth of the market. Furthermore, laws regarding car modification and the installation of rear spoilers vary from country to country. Therefore, providers must develop devices that are cost-effective and comply with government regulations, along with offering post-sale services.
Green vehicles such as battery electric vehicles and plug-in hybrid vehicles provide numerous benefits such as low maintenance costs, reduced ownership costs, and low fuel consumption. Additionally, initiatives by various governments are also encouraging users to invest in green vehicles. For instance, the U.K. government’s Automated and Electric Vehicles Bill aims at making green vehicles affordable by offering incentives on the purchase of plug-in or electric hybrid vehicles. This is poised to keep the demand for rear spoilers high in green vehicle manufacturing
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-rear-spoiler-market
Grand View Research has segmented the global rear spoiler market based on vehicle type, system type:
Rear Spoiler Vehicle Type Outlook (Revenue, USD Million; 2014 - 2025)
·         Conventional Car
·         Green Vehicle
Rear Spoiler System Type Outlook (Revenue, USD Million; 2014 - 2025)
·         Passive Spoiler
·         Active Spoiler 
Demand for conventional cars is expected to increase owing to surging demand for SUVs and MUVs. These vehicles offer users safety, comfort, and connectivity. Additionally, they provide more seating capacity that enables drivers to carry more passengers comfortably. Therefore, the conventional car segment is anticipated to register a CAGR of over 4.0% during the forecast period.
Based on system type, the rear spoiler market has been segmented into active spoiler and passive spoiler. Active spoilers offer various benefits such as reducing turbulence at high speeds and providing adjustable angles. Besides, they also provide high aesthetic value.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



Comments

Post a Comment

Popular posts from this blog

Foot Orthotic Insoles Market 2026: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.

Image
The global foot orthotic insoles market size is expected to reach USD 5.5 billion by 2026 , according to a new report by Grand View Research, Inc., exhibiting a 6.3% CAGR during the forecast period. Growing incidence of diabetes and plantar fasciitis are expected to drive the market over the forecast period. Moreover, rapid urbanization and increasing disposable income are anticipated to propel growth in future. Technological advancements, spurred by ongoing investments in R&D, are expected to increase growth potential in the coming years. Moreover, rise in geriatric population, which is susceptible to orthopedic disorders, is impelling product demand globally. For instance, in 2017 as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2014 to 2015. In addition, increasing incidence of sports injuries and rising prevalence of osteosarcoma in the region has led to the need for various orthotics devices, which is expected to drive ...
Read more

A Look into Smokehouse Industry……Deep Analysis…..

Image
The global smokehouse market size is anticipated to reach USD 157.2 million by 2025 , according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 2.2% during the forecast period. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth. The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution ...
Read more

A Look into Shapewear Industry……Deep Analysis…..

Image
The global shapewear market size is expected to reach USD 3.80 billion by 2025 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. The introduction of various products according to the type of garments is expected to support the market growth in the years to come. Growing target population across the globe is also augmenting the market growth. Changing lifestyle incurs increased investment in fitness and related accessories, which has positively impacted the market growth. The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe,...
Read more