Sellbyville, DE -- (SBWIRE) -- 01/31/2019 -- Rear Spoiler Market demand is projected to cross 44 million units with USD 5 billion by 2024. 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. High revenue generation can also be attributed to its benefits such as reduced weight, cost effectiveness, and flexibility in design. Injection molding will grow significantly over the coming years owing to high usage for bulk production.

Carbon fiber will exhibit the highest CAGR of over 7% from 2017 to 2024. Increasing demand from high-speed and sports utility vehicles will majorly support the substantial growth. Carbon fiber is preferred by aftermarket players as customization is done by the independent service providers. These products also feature durability, high strength, lightness, enhanced finish & appearance of the rear spoiler.

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Pivotal behemoths in the automotive industry have been increasing their efforts to find innovative ways for reducing a vehicle's overall weight and adding to its fuel efficiency. These efforts eventually target the growth of rear spoiler market, given that these products improve a car's aerodynamics and increase traction on the rear end of the vehicle. They are also reputed to increase the safety feature in vehicles, by increasing the grip of the car while making turns. It would therefore, be rather justified to state that rear spoiler market has experienced a positive boost with the growing demand of SUVs, since the addition of a rear spoiler to the back of the SUV makes it more stable at higher speeds. As a result of increasing safety awareness among consumers coupled with the changing economies and shifting customer preferences, rear spoiler industry has received increased stimulus in recent years.

The rear spoiler, undoubtedly, is a major necessity in race cars and high-speed sports cars. In this regard, it is noteworthy to mention that rear spoiler industry has profited from a purely aesthetic view point, as a vast number of consumers add rear spoilers to make their vehicles look more sporty. However, SUVs and MPVs are also using rear spoilers to increase the vehicle's performance. SUVs dominated the rear spoiler market in 2016, having accounted for 65% of the overall share in 2016. With their increasing popularity, in tandem with rapid rise in accidents in recent times, SUVs will continue to escalate the rear spoiler market in the forecast period of 2017-2024.

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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The rising demand for sports and high-speed cars will indeed contribute to the strong growth of the rear spoiler market in North America and Europe. Major car manufacturers in Germany, Italy, France and UK will also drive the rear spoiler industry in Europe with their addition of innovative car designs and use of new and advanced composite materials. APAC rear spoiler industry on the other hand, will witness a boost primarily on account of the growing passenger vehicle demand in this region. Speaking of which, in 2016, around 13 million units of rear spoilers had been installed in Asia Pacific, with China, India, South Korea and Japan being the leading contributors.

Mercedes-AMG GmbH, DAR Spoilers, Polytec Group, Plastic Omnium, and Mitsubishi are among the prominent players in the rear spoiler market. Other notable producers include Albar Industries, Magna International, Plasman Group, and Changzhou Huawei. Industry participants are focusing on developing aerodynamic effect of cars to improve fuel efficiency. They are using lightweight and high-strength materials along with reinforcement materials to reduce the overall weight of the product without compromising on its performance.

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