The global Active Spoiler market is expected to witness a market value of US$ 3.6 Billion in 2023 and is expected to accumulate a market value of US$ 7.2 Billion by registering a CAGR of 7.0% in the forecast period 2023 to 2033. The Active Spoiler market registered a CAGR of 3.3% in the historical period 2018 to 2022. Factors such as increased vehicle production, high-end luxury cars, and increased adoption of preventive measures are expected to boost the market growth over the analysis period.
As per Future Market Insights - market research and competitive intelligence provider, the global market value for Active Spoiler has been flourished. The continually growing demand for high-performance vehicles is one of the primary factors driving the growth of the active spoiler market. Active spoilers are a common feature in high-performance vehicles, as they help to improve the vehicle's aerodynamics, which in turn improves its handling and stability. As consumers increasingly demand high-performance vehicles, the demand for active spoilers is expected to increase in the near future.
Additionally, the rising cost of fuel and growing concerns over the environmental impact of vehicles are anticipated to accelerate the automotive industry to focus more on fuel efficiency. Active spoilers can help to improve a vehicle's fuel efficiency by reducing its drag and improving its aerodynamics. As fuel efficiency becomes an increasingly important consideration for consumers, the demand for active spoilers is expected to grow.
Active spoilers can also help to improve a vehicle's handling and stability. By adjusting the spoiler's angle and position, the airflow around the vehicle can be controlled, which can help to reduce lift and improve stability. Thus, the demand for active spoilers is expected to grow, owing to the factors such as the increasing consumers’ demand for vehicles with improved handling and stability.
Furthermore, the active spoiler market is also expected to benefit from technological advancements in the automotive industry. As the automotive industry continues to develop new materials and technologies, active spoilers are likely to become more sophisticated and effective. For instance, new sensors and control systems may be developed that can adjust the spoiler's position and angle more precisely, leading to better performance and efficiency.
While active spoilers have traditionally been found in high-performance vehicles, they are increasingly being adopted in mid-range vehicles as well. This trend is expected to continue, as consumers demand better performance and efficiency from their vehicles. As active spoilers become more widely adopted, the market for these products is expected to fuel during the forecast period.
Moreover, the growing demand for electric vehicles is another major factor that is projected to propel the market growth in the forthcoming years. As electric vehicles become more common, manufacturers are likely to adopt active spoilers to improve their performance and efficiency. Active spoilers can help to reduce the drag on electric vehicles, which can help to extend their range and improve their efficiency.
On the regional end, the Active Spoiler market in North America is expected to account for the maximum share during the analysis period, owing to the factors such as the increasing demand for high-performance vehicles, the growing awareness of the benefits of active spoilers, and the increasing adoption of electric vehicles in the region.
On the other hand, the Active Spoiler market in Europe is expected to account for a significant share over the forecast period, attributed to the factors such as the growing adoption of electric vehicles, and the strict regulations and emission norms in the region.
Recent developments in the technology, mergers and acquisitions, and partnerships within the companies involved in the designing of Active Spoiler are expected to create lucrative opportunities for the market growth over the analysis period.
For instance, in December 2022, Magna International Inc. acquired the Veoneer Active Safety business from SSW Partners for $1.525 billion in cash, subject to working capital and other customary purchase price adjustments. The combined business is projected to generate approximately $3 billion in sales in 2024, positioning Magna's ADAS business as a global leader. The acquisition builds on Magna's Advanced Driver Assistance Systems ("ADAS") strengths and positions the combined business with extensive products and capabilities to provide customers with a full suite of ADAS solutions.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 3.6 Billion |
| Projected Market Value in 2033 | US$ 7.2 Billion |
| Growth Rate (2023 to 2033) | 7.0% CAGR |
Automotive spoilers are installed in vehicles to control and change the airflow around and underneath the vehicles to avoid any type of wind resistance and to enable more grip to the driver at high speeds.
It is very important for manufacturers to install rear spoilers as they reduce the turbulence that the vehicle generates as it moves at high velocity.
Manufacturers install spoilers to improve high- speed stability in sports cars as well as luxury cars.
Many automotive manufacturers install spoilers in passenger cars for better aesthetics as they provide a trendy design feature which is one of the most important factor driving the sales of active spoilers in the forecast period.
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Active spoilers are installed at different locations in a vehicle and is regarded as an aerodynamic accessory designed to improve the airflow and increase the vehicle performance and efficiency.
They are found in sports cars, luxury cars, sedans and SUVs which is one of the factor driving the demand of spoilers.
The use of spoilers to enhance the aesthetics of the vehicles for a more stylish appearance is accelerating the demand for active spoilers in the market.
Lightweight materials like carbon fiber which is corrosion resistant and which help to improve the fuel efficiency of vehicles are used to make these spoilers is also one of the drivers fueling the growth of the market in the forecast period.
The automotive industry faced huge losses due to COVID- 19 pandemic as it experienced considerable slowdown in terms of sales and production.
Assembly plant closure in USA and many countries in Europe added to the pressure of a disrupted supply chain for automotive manufacturers.
Many manufacturers in the world import manufacturing components from china which also led to manufacturing disruptions in Europe as export of components was restricted due to lockdown.
The industry is slowing recovering from the losses with the reopening of manufacturing facilities in major countries as production of automotive components like active spoiler has resumed.
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North America is one of the high profit making market for active spoiler due to high penetration of technologically advanced automotive components that are lightweight and exhibit unique design features for these components. High demand of luxury and sports vehicles in the region is accelerating the sales of spoilers in the region.
Sales of sports vehicles in USA is comparatively high from other regions due to high disposable income of the population and willingness to spend large amount of funds on sports cars is boosting the market for automotive active spoiler.
OEMs like Chevrolet uses high strength plastic in its C7 Corvette Z06 model for its rear spoiler wing that is adjustable as well as translucent.
This part increases the aesthetic value of the vehicle giving it a trendy design which is impacting the sales of these parts.
Many countries in Europe region have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities but the market is slowly recovering in 2021.
Shutdown of production facilities in Europe affected the automotive industry as well as spoiler parts as there was a halt in the manufacturing of automotive parts.
Europe market is one of the most lucrative markets for automotive spoilers due to increase in spending of the potential customers on sports cars.
Manufacturers in Europe have introduced different variety of models with new designs and latest technology for automotive spoilers. High end companies like Porsche have introduced a passenger car that looks a race car because of active rear spoilers installed in the rear of the vehicle.
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Some of the leading manufacturers and suppliers of automotive spoiler include
Many leading manufacturers offer customization of different styles of wheels and color choices to customers which is boosting the market for automotive spoilers.
Major players are investing in research & development for technology and exterior design features for different types of spoilers.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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Active Spoiler Market
