Covid-19 Impact on Rear Spoiler Market to Witness Impressive Growth During 2021-2026 [Business]
OCT 13,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Rear Spoiler Market.
Rear Spoiler Market is likely to witness an impressive CAGR of 6.4% during the forecast period. Growing demand for performance cars with improved aesthetic appearance and technological advancements in the automotive industry are some of the key factors fueling the growth of the market during the forecast period.
Rear spoiler is basically an aerodynamic device of the vehicle which is designed to disrupt the air movement by creating the vertical force that acts on the tire by causing traction on the road and eventually reduces the air drag.
Based on the technology type, the market is segmented as blow molding, injection molding, and reaction injection molding. Injection molding is estimated to register high growth rate in the market on account of high efficiency and ease of molding complex component design because of its superior design flexibility. Further, its capability to decrease wastes 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 the mold and machinery cost, boosting the segment’s growth over the forecast period.
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 application. On the other hand, carbon fiber is also estimated to register strong growth on account of its superior weight-to-strength ratio and flexibility.
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.
Based on the vehicle type, the market is segmented as 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, hatchback vehicle type is estimated to witness significant growth rate in the market owing to its installation for enhancing the braking stability of the vehicle.
Based on the end-use type, the market is segmented as OEM and aftermarket. Aftermarket is estimated to account for the major share of the market with its installation to enhance vehicle aesthetics. The aftermarket players are offering products at various price ranges, in order 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.
In terms of regions, Asia-Pacific is estimated to be the leading region in the market on account of growing vehicle production in the region during the forecast period. China is the growth engine of the region enhancing the production capability 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.
Key Players:
• Albar Industries, Inc.
• Anderson Composites
• Changzhou Huawei
• DAR Spoilers
• Hamann
• Inoac Corporation
• M.U.G.E.N
• Magna International, Inc.
• Mercedes-AMG GmbH
• Mitsubishi.
Features of the Report
This report offers high-quality insights and is the outcome of 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.
The Rear Spoiler Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• 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
About Us –
Stratview Research is a leading global Market Research firm providing expert research solutions, trusted by clients worldwide. Stratview Research possesses a global presence to enable current Market information using the most up-to-date methodology, best-in-class research techniques, and cost-effective approaches. We survey clients in several countries to provide you with the most comprehensive illustration of global trends and behaviours.
Rear Spoiler Market is likely to witness an impressive CAGR of 6.4% during the forecast period. Growing demand for performance cars with improved aesthetic appearance and technological advancements in the automotive industry are some of the key factors fueling the growth of the market during the forecast period.
Rear spoiler is basically an aerodynamic device of the vehicle which is designed to disrupt the air movement by creating the vertical force that acts on the tire by causing traction on the road and eventually reduces the air drag.
Based on the technology type, the market is segmented as blow molding, injection molding, and reaction injection molding. Injection molding is estimated to register high growth rate in the market on account of high efficiency and ease of molding complex component design because of its superior design flexibility. Further, its capability to decrease wastes 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 the mold and machinery cost, boosting the segment’s growth over the forecast period.
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 application. On the other hand, carbon fiber is also estimated to register strong growth on account of its superior weight-to-strength ratio and flexibility.
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.
Based on the vehicle type, the market is segmented as 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, hatchback vehicle type is estimated to witness significant growth rate in the market owing to its installation for enhancing the braking stability of the vehicle.
Based on the end-use type, the market is segmented as OEM and aftermarket. Aftermarket is estimated to account for the major share of the market with its installation to enhance vehicle aesthetics. The aftermarket players are offering products at various price ranges, in order 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.
In terms of regions, Asia-Pacific is estimated to be the leading region in the market on account of growing vehicle production in the region during the forecast period. China is the growth engine of the region enhancing the production capability 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.
Key Players:
• Albar Industries, Inc.
• Anderson Composites
• Changzhou Huawei
• DAR Spoilers
• Hamann
• Inoac Corporation
• M.U.G.E.N
• Magna International, Inc.
• Mercedes-AMG GmbH
• Mitsubishi.
Features of the Report
This report offers high-quality insights and is the outcome of 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.
The Rear Spoiler Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• 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
About Us –
Stratview Research is a leading global Market Research firm providing expert research solutions, trusted by clients worldwide. Stratview Research possesses a global presence to enable current Market information using the most up-to-date methodology, best-in-class research techniques, and cost-effective approaches. We survey clients in several countries to provide you with the most comprehensive illustration of global trends and behaviours.
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