Rear Spoiler Market Synopsis:
The global market for rearspoiler is projected to expand at a CAGR of 7.50%, holding a substantial valueby the end of 2023. According to the data experts at Market Research FutureReports (MRFR), the rear spoiler market 2020 is majorly influenced by thegrowing automotive industry. Besides, the growing number in the SUV productionalong with the technological advancement in materials is anticipated to be animportant factor of market expansion. The technical development for reducingthe weight of the vehicle is likely to enhance fuel-efficiency, which isprojected to drive the market significantly during the forecast period.Besides, the increased income of individuals has given a superior power ofpurchasing, which directly affects the market during the review period. Themarket for rear spoiler is anticipated to grow prodigiously during the forecastperiod.
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However, the uncertain andfluctuating price of raw materials is likely to hamper the market growth.Besides, the capital investment required is another factor which is estimatedimpede the market. Also, the spread of coronavirus has adversely affected themanufacturing unit. Several regions announced lockdown which led to thetemporary suspension of manufacturing plants. The market is estimated torecover steadily in the post-COVID-19 period. The global economic crisis causedby the pandemic is likely to impact the market adversely since it has lowereddown the purchasing power of every individual. The lockdown has affected thedaily business operations as well. We will provide an impact analysis report onCOVID-19.
Rear Spoiler Market Segmentation:
The global market for rearspoiler can be distinguished into fuel type, technology, material, vehicletype, and region.
On the basis of fuel type, theglobal market for real spoiler can be classified into BEV, ICE, and others.
On the basis of technology, theglobal market for real spoiler can be classified into injection, blow, reactioninjection molding.
On the basis of material, theglobal market for real spoiler can be distinguished into carbon fibre, ABS,fibreglass, and sheet metal.
On the basis of vehicle type, theglobal market for real spoiler can be distinguished into hatchback, SUV, andothers.
On the basis of region, theglobal market for real spoiler can be distinguished into North America, AsiaPacific, Europe, and Rest of the World (RoW).
RearSpoiler Market Regional Analysis:
The global market for realspoiler is projected to expand significantly during the forecast period.Regional analysis such as North America, Asia Pacific, Europe, and RoW havebeen evaluated. According to the study, the global market is estimated to bedominated by North America. North America is likely to acquire the largestmarket share during the assessment period. Also, the region is estimated toexperience a surge in demand for passenger cars. The demand for new vehicleswill fuel the market. On the other hand, the APAC region is estimated to growat the fastest CAGR during the review period.
However, the disruption ofcoronavirus is likely to affect the market in several ways. Several companies,which had their base in China are relocating their operation to other countrieswhich is will bring the severely impact the Chinese market. China, being one ofthe most efficient manufacturing hubs in the world, is likely to face a majorsetback.
Key Players
The key players of the globalrear spoiler market are Plastic Omnium (France), Magna International Inc.(Canada), SMP Automotive (Germany), Polytec Group (Austria), Mercedes-AMG GmbH(Germany), Albar Industries, Inc. (U.S.), Changzhou Huawei (China), P.U. TechSpoiler (Malaysia), DAR Spoilers (U.S.), and SRG Global (U.S.).
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