Rear Spoiler Market Growth & Forecast Analysis | 2022-2028

Market Insights

The rear spoiler market was estimated at USD 2.57 billion in 2021 and is likely to grow at a CAGR of 6.68% during 2022-2028 to reach USD 4.07 billion in 2028.

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What is a rear spoiler?

The rear spoiler is an aerodynamic vehicle device designed to disrupt air movement by creating the vertical force that acts on the tire by causing traction on the road and eventually reducing the air drag.

Key Players

Some of the key players in the market are- 

• Albar Industries, Inc.
• Anderson Composites
• Changzhou Huawei
• DAR Spoilers
• Hamann
• Inoac Corporation
• M.U.G.E.N
• Magna International, Inc.
• Mercedes-AMG GmbH
• Mitsubishi.

Market Drivers

The growth of the rear spoiler market is primarily driven by-

• Growing demand for performance cars with improved aesthetic appearance
• Technological advancements in the automotive industry.

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Segment Analysis

By Technology Type

Based on the technology type, the market is segmented as blow molding, injection molding, and reaction injection molding. Injection molding is estimated to register a high growth rate in the market on account of its high efficiency and ease of molding complex component design because of its superior design flexibility. Further, its capability to decrease waste and labor costs is expected to fuel the segment’s growth during the forecast period. On the other hand, blow molding is estimated to be the dominating segment of the market owing to rapid and high-volume production capabilities requiring lower pressure that decreases mold and machinery costs, boosting the segment’s growth over the forecast period.

By Material Type

Based on the material type, the market is segmented as ABS plastic, fiberglass, carbon fiber, and sheet metal. ABS plastic is estimated to be the dominating segment of the market during the forecast period owing to its advantageous features, such as superior impact and scratch resistance coupled with high heat resistivity of the material making it more suitable for automotive applications. On the other hand, carbon fiber is also estimated to register strong growth on account of its superior weight-to-strength ratio and flexibility.

By Fuel Type

Based on the fuel type, the market is segmented as ICE, BEV, and hybrid. The hybrid segment is estimated to witness significant growth in the market on account of growing supportive measures by the government for low-emission vehicles during the forecast period. Further, ICE is also estimated to account for a significant share of the market owing to large vehicle fleet size.

By Vehicle Type

Based on the vehicle type, the market is segmented as a hatchback, SUV, and MPV. SUV is estimated to be the dominating segment of the market on account of growing vehicle sales during the forecast period. It provides superior comfort and seating space, fueling the segment’s growth over the forecast period. Moreover, the hatchback vehicle type is estimated to witness a significant growth rate in the market owing to its installation for enhancing the braking stability of the vehicle.

By End-Use Type

Based on the end-use type, the market is segmented as OEM and aftermarket. Aftermarket is estimated to account for the major market share with its installation to enhance vehicle aesthetics. The aftermarket players are offering products at various price ranges to increase the demand for the product. On the other hand, OEM is estimated to witness significant growth in the market during the forecast period on account of the optimized costs of pre-installed products.

Regional Insights

In terms of regions, Asia-Pacific is estimated to be the leading region in the market on account of growing vehicle production in the area during the forecast period. China is the growth engine of the region enhancing its production capacity to strengthen its manufacturing sector and provide lucrative growth opportunities in the regional market over the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories. 

By Technology Type

• Blow Molding
• Injection Molding
• Reaction Injection Molding

By Material Type

• ABS Plastic
• Fiberglass 
• Carbon Fiber
• Sheet Metal

By Fuel Type

• ICE
• BEV
• Hybrid

By Vehicle Type

• Hatchback
• SUV
• MPV

By End-Use Type

• OEM
• Aftermarket

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain qualitative and quantitative insights.

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the vehicle types by technology type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.