[FURL=https://www.industryarc.com/Research/Rear-Spoiler-Market-Research-501068]Rear Spoiler Market[/FURL] is forecast to reach $5.2 billion by 2025, after growing at a CAGR of 9.49% during 2019-2025. Increasing demand for performance cars with enhanced appearance is predicted to boost the rear spoiler market growth during the forecast period 2019-2025. Moreover, automotive manufacturers are introducing vehicle models pre-equipped with these aerodynamic devices to enhance the traction and improve control in high speed, which is further anticipated to favor the growth of rear spoiler market.Key Takeaways
APAC dominates the Rear Spoiler Market attributed to the surge in production of customized vehicles by automotive manufacturers in this region.
Automotive manufacturers are involved in extensive R&D to improve vehicle performance with help of rear spoiler. These R&D works are poised to create more opportunities for the rears spoiler market.
Moreover, government authorities and regulatory bodies are formulating design standards, and regulation pertaining to installation of rear spoilers on the vehicles.
Rear spoilers are constantly in need of maintenance and repair, thereby causing hindrances in the growth of the Rear Spoiler Market.
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Geography - Segment Analysis
Asia - Pacific region has dominated the Rear Spoiler Market with a share of more than 35%, followed by North America. Surge in vehicle production due to growing popularity of customization of automobiles and automobile racing, is one of the major factors propelling the market growth in this region. According to the stats of Organization International des Constructeurs d'Automobiles, more than 43 million vehicles were produced within the Asia Pacific region in 2018. Among the region, China remains as the biggest producer with about 23.7 million passenger cars produced in 2017. Moreover, increasing demand for automotive aftermarket is expected to support revenue growth of rear spoiler market in the Asia Pacific.
Drivers – Rear Spoiler Market
Demand for High performance Vehicles
Market Landscape: Major players in the Rear Spoiler Market are Plastic Omnium, Magna International, Albar Industries Inc., Thai Rung Union Car PLC, SMP Automotive, Jiangnan Mould, Plastic Technology Co., Ltd., Inoac Corporation, Rehau Ltd and Polytec Group among others.
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