By 2024, Rear Spoiler Market to cross $ 5 Bn

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.

Selbyville, United States – June 28, 2019 /MarketersMedia/ —

The Rear Spoiler Market is set to grow from its current market value of more than $3.3 billion to over $5 billion by 2024; as reported in the latest study by Global Market Insights, Inc.

Rising implementation in MPVs, SUVs, and hatchbacks coupled with increased sales of SUVs across the globe will primarily drive the industry growth. Regular innovations in automobile industry for overall reduction of vehicle weight has resulted in high installation of plastic components. These innovations are likely to further propel the product penetration over the forecast timeframe.

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Shifting consumer preference towards electric vehicles along with continuous government support for electric vehicle implementation will positively impact the industry growth over the forecast timeline. Numerous countries across the globe have launched various initiatives such as provision of incentives and subsidies for the EV production. For instance, Indian government invested USD 11.5 million for production of hybrid & electric vehicles in 2013, which was increased by 42% in 2017.

Rear spoiler market from ABS plastic will account for highest revenue share of more than 40% till 2024. Shifting manufacturers preference towards usage of ABS materials owing to their beneficial chemical properties, that offer protection against dents and heat resistance. Improved fit & finish is another factor that will support the material’s dominance till 2024.

Numerous cars are currently equipped with rear spoilers for minimizing the accident rates and enhancing the fuel efficiency. Several customers prefer rear spoilers for aesthetic benefits, strengthening the industry penetration. Manufacturers are focusing on mass production of composite materials for reduction in raw material cost. This will reduce the overall cost of rear spoilers, inducing immense potential to the industry over the next eight years.

Carbon fiber is likely to witness more than 7% CAGR over the coming years. High acceptance from sports utility and high-speed vehicles will primarily drive the rear spoiler market. High preference by aftermarket participants owing to flexibility in customization done by independent service providers will further escalate the industry growth. The substantial growth can also be attributed to provision of the benefits such as light weight, high strength, enhanced appearance & finish, and durability.

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Rear spoiler market from aftermarket will hold major share crossing 75% over the coming years owing to cost effectiveness of these products as compared to their counterparts. OEMs will exhibit 5% CAGR owing to consumer’s loyalty and trust towards component manufacturers.

North America rear spoiler market will capture highest revenue share accounting for approximately USD 2 billion till 2024. Rising demand for improved rear spoilers owing to increased production of high-speed cars will drive the regional growth. High sales of SUVs across the region will contribute significantly to the revenue generation. Moreover, drop in prices of these vehicles will further support the region’s dominance over the next eight years.

DAR Spoilers, Plastic Omnium, Polytec Group, Mitsubishi, and Mercedes-AMG Gmbh are among the key players in the rear spoiler market. Other noticeable participants include Plasman Group, Changzhou Huawei, Magna International, and Albar Industries. Industry players are continuously focusing on development of aerodynamic impact of cars for enhancement of fuel efficiency. They are using high-strength and lightweight materials coupled with reinforcement materials for overall weight reduction of the product without compromising with performance.

Browse key industry insights 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/industry-analysis/rear-spoiler-market

Glimpse of Table of Content (ToC)

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

Browse Full 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.

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