Rear Spoiler Market Growth Opportunities & Forecast To 2024
Category: #business  By Ronak Bora  Date: 2021-08-09
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Rear Spoiler Market Growth Opportunities & Forecast To 2024

Rear spoiler market size has been estimated to surpass the 5-billion-dollar mark by 2024, given the increasing popularity of these component in SUVs and hatchback cars. In essence, with changing consumer preferences regarding luxury automobiles and a paradigm shift in technology deployment in vehicle manufacturing, rear spoiler industry is certain to chart out a rather lucrative growth path in the years ahead.

Rear spoiler market has indeed crossed a major revenue benchmark in the year before last, having registered a valuation of around USD 3.3 billion in 2016. These massive proceeds can be majorly credited to the ever-changing dynamics of the automotive sector, the evolution of the EV era, and the innumerable changes brought about in vehicle production, thanks to the extensive advancements in automobile technology. With more and more automotive giants exploring novel methodologies to enhance automobile speed, safety, performance, and functioning, rear spoiler industry size is likely to soar high in the ensuing years.

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How the upcoming SUV era could impact rear spoiler market trends

In recent times, a global upsurge has been observed in SUV sales, plausibly on account of the fact that they provide extensive legroom, headroom, and storage space. With rising preferences for SUVs and the increasing production capacities of automakers, rear spoilers are likely to observe a rise in installations, thereby boosting rear spoiler market size. The demand for SUVs in particular, will have a commendable impact on the sales graph of rear spoiler industry, as is evidenced by the statistics below:

  • In 2016, SUV sales in the United States were registered at 6.9 million units – a growth of 480,000 units having made it to the record.
  • In 2017, SUV sales in Australia were chronicled at 465,646, capturing 39.2% of the overall market share, depicting a 14% growth from the last year.

With a tremendously high demand and rise in popularity, SUVs are likely to be installed with high grade rear spoilers in order to enhance their performance. SUVs were the leading vehicle segment in rear spoiler market in 2016, having held over 65% of the overall share, subject to the demand for lightweight vehicles and the necessity of improved aerodynamics.

India to be a crucial growth ground for the expansion of rear spoiler industry size

The rising furor for SUVs has been observed across the Indian sub-continent as well. Just recently, it had been observed that the compact SUV segment has emerged as one of the most profitable automobile categories in the country, as is exemplified by the details below:

  • The Maruti S-Cross witnessed the highest rise in sales in the month of October – a mammoth 1331% increase from the September sales, from 385 to 5510.
  • The Vitara Brezza recorded sales of 11,684 units, consistently maintaining its leadership position.
  • Tata Nexon held a record customer count of 3099 and is expected to soar tremendously high, with a huge consumer waiting list. On this account, the company actually plans to double the production of the Nexon owing to the 3-month waiting period.

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Partial Chapter of the Table of Content

Chapter 4    Rear Spoiler Market, By Technology

4.1    Global 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 market share by material, 2016 & 2024

5.2    ABS Plastic

5.3    Fiberglass

5.4    Carbon fiber

5.5    Sheet Metal

Chapter 6    Rear Spoiler Market, By Fuel

6.1    Global market share by fuel, 2016 & 2024

6.2    ICE

6.3    BEV

6.4    Hybrid

Chapter 7    Rear Spoiler Industry, By Vehicle

7.1    Global market share by vehicle, 2016 & 2024

7.2    Hatchback

7.3    SUV

7.4    MPV

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/rear-spoiler-market

 

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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