The global rear spoiler market size is expected to reach USD 7.30 billion by 2025, according to a study conducted by Grand View Research, Inc., progressing at a CAGR of 7.9% during the forecast period. Soaring need for safe and fuel-efficient vehicles is boosting the adoption of rear spoilers. They provide increased braking stability that offers drivers enhanced braking time at high speed.
The North America region is anticipated to witness considerable growth over the coming years due to domicile of rear spoiler providers such as Magna International and DAR Spoilers. Additionally, stringent emission control norms are encouraging users to invest in rear spoilers. They reduce the drag by pushing air around the vehicle, which assists in gaining fuel efficiency. Growing emphasis on enhanced fuel efficiency is triggering the growth of the market in developing regions. Prominent automobile companies such as Aisin Seiki Co, Ltd are making significant investments in countries such as China.
However, high costs of installation and maintenance may hamper the growth of the market over the forecast period. In order to address the challenge, rear spoiler providers often offer appropriate devices at affordable prices along with post-sale services for building customer confidence.
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Further key findings from the study suggest:
- The green vehicles segment is expected to be the fastest growing segment with a CAGR of over 8.0% during the forecast period, owing to benefits such as low maintenance costs
- Active spoilers offer benefits such as high aesthetics and reduced torque. The segment is likely to dominate the market throughout the forecast period, accounting for more than 60.0% of the overall revenue by 2025
- North America is estimated to be the most promising region over the forecast period owing to domicile of a large number of key players
- Some of the prominent companies operating in the market are Magna International Inc.; Plastic Omnium; Aisin Seiki Co.; Ltd; DAR Spoilers; INOAC Corporation; and SMP Group.