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Increasing Production of Electric Vehicles and SUV to Drive the Rear Spoiler Market

The global rear spoiler market, by technology type, is expected to be dominated by blow molding, followed by injection molding and reaction injection molding. However, the market for injection molding is estimated to grow at the highest CAGR during the forecast period. Injection molding provides better precision and high manufacturing rate at a lesser cost than reaction injection molding. However, blow molding is estimated to have the largest share of the rear spoiler market during the forecast period. Simple usage and low cost are the key factors driving the demand for blow molding.

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Increasing Production of Electric Vehicles and SUV to Drive the Rear Spoiler Market

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  1. Growing Vehicle Production & Sales to Drive the Rear Spoiler Market for Automotive The report "Rear Spoiler Market by Fuel (ICE, BEV), Vehicle Type (Hatchback, SUV, MPV), Material (ABS, Carbon Fibre, Fibre Glass, Sheet Metal), Technology (Blow, Injection and Reaction Injection Molding), and Region - Global Forecast to 2022", The global rear spoiler market is projected to grow at a CAGR of 7.40% from 2017 to 2022, to reach a market size of USD 3.69 Billion by 2022. The major factors driving the growth of the rear spoiler market are the increasing production of vehicles, electrification of vehicles, and stringent emission norms introduced by the government to minimize greenhouse gas emissions. Browse 72 Market Data Tables and 40 Figures spread through 114 Pages and in-depth TOC on "Rear Spoiler Market by Fuel (ICE, BEV), Vehicle Type (Hatchback, SUV, MPV), Material (ABS, Carbon Fibre, Fibre Glass, Sheet Metal), Technology (Blow, Injection and Reaction Injection Molding), and Region - Global Forecast to 2022" https://www.marketsandmarkets.com/Market-Reports/rear-spoiler-market-255533664.html Early buyers will receive 10% customization on reports. Injection Molding A high growth potential market The global rear spoiler market, by technology type, is expected to be dominated by blow molding, followed by injection molding and reaction injection molding. However, the market for injection molding is estimated to grow at the highest CAGR during the forecast period. Injection molding provides better precision and high manufacturing rate at a lesser cost than reaction injection molding. However, blow molding is estimated to have the largest share of the rear spoiler market during the forecast period. Simple usage and low cost are the key factors driving the demand for blow molding. Battery electric vehicle and Hybrid Electric Vehicle Promising vehicle segments for spoiler manufacturers Hybrid Electric Vehicle (HEV) is estimated to account for the largest share of the rear spoiler market among the electric vehicle types (BEV, HEV, and PHEV). The HEV segment is expected to continue its market dominance during the forecast period. Modern HEVs are enabled with efficiency-improved technology such as regenerative brakes, electric motor drive, and automatic start/shut-off. The rear spoiler helps to improve the efficiency of the electric vehicle as it saves energy by improving the design of the electric vehicle. These technological advantages have made HEVs successful in recent years. Also, in terms of growth, the rear spoiler market for battery electric vehicle is projected to grow at the highest CAGR, followed by PHEV and ICE, respectively. Increasing government support for green vehicles is propelling the demand for electric vehicles, which, in turn, is increasing the demand for rear spoilers. The rear spoiler market is projected to grow at a CAGR of 7.40% during the forecast period and is projected to reach USD 3.69 Billion by 2022. The key factor driving the automotive rear spoiler market is the increasing demand for hatchback, MPV, and SUV, which account for a major share of the market. Due to low cost and compact design, the demand for hatchback cars is expected to increase significantly in the Asia-Pacific region.

  2. The hatchback car segment is estimated to be the largest market, by volume, and SUV segment is estimated to be the largest market, by value, for the automotive spoiler market. The hatchback car segment has a high growth opportunity in the future due to its affordable price and compact size. The ICE segment is expected to be the largest segment of the automotive spoiler market, by fuel type, during the forecast period. ICE is the most common type of combustion engine owing to its low-cost production and cheap fuel. Purchasing ICE vehicles is cheaper than other fuel type segments. Also, customers in emerging regions such as Asia-Pacific prefer ICE vehicles due to the lower price. Despite the expected growth of the BEV segment in the next 5 years, the ICE segment will continue to be the preferred mode of engine and fuel. Acrylonitrile butadiene styrene (ABS) is expected to be the largest segment of the automotive rear spoiler market, by material type. ABS is the most widely used material for rear spoiler manufacturing because it is cheap and easily available. Further, the penetration of ABS in the rear spoiler market is high as it is used in a majority of vehicles such as hatchbacks and MPVs. Other materials are used for making spoilers for high-end cars because of their high cost. The blow molding technology is estimated to be the largest segment of the rear spoiler market during the forecast period. The growth of this technology can be attributed to its low price as compared to other technologies used in the manufacture of rear spoilers. Blow molding has an advantage over other technologies as it has an option for the use of different raw materials simultaneously. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=255533664 Asia-Pacific: Largest market for rear spoiler Asia-Pacific is estimated to account for the largest share, by value and volume, of the rear spoiler market in 2017. Also, in terms of growth, the Asia-Pacific market is projected to grow at the highest CAGR during the forecast period. Developing economies such as China and India are expected to play a major role on the backdrop of increasing vehicle production. Also, increasing installation of rear spoiler in vehicles such as Hatchbacks, SUVs, and MPVs and stringent emission and safety norms have boosted the demand for the rear spoiler in the Asia-Pacific region. The report profiles all major players in the rear spoiler market, including Magna International (Canada), Plastic Omnium (France), SMP Automotive (Germany), Polytec Group (Austria), Thai Rung Union Car Plc (Thailand), and INOAC Corporation (Japan) among others. The report also covers a comprehensive study of the key vendors operating in the rear spoiler market. The evaluation of these vendors has been done by taking into account various factors such as product development, R&D expenditure, business strategies, and product revenue. The report also explains the qualitative aspects of the rear spoiler market with respect to advanced features and application over the course of time. This report covers the competitive landscape and company profiles of major players in the rear spoiler market. Request Sample: https://www.marketsandmarkets.com/requestsample.asp?id=255533664

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