Market Leaders - Aerodynamic Market for Automotive
The global aerodynamic market for automotive is projected to grow at a CAGR of 4.77% during the forecast period, to reach USD 32.77 billion by 2025. The market growth is primarily driven by the increased demand for electric vehicles and the rising concern to achieve better fuel economy standards for the automotive industry. Additionally, to fulfill consumer preferences of advanced styling in vehicles, OEMs have incorporated varied designs in the exterior body patterns and components. Thus, these factors are fueling the growth of the aerodynamic market in automotive.
The aerodynamic market for automotive is dominated by a few global players. The key market players are Magna (Canada), Roechling Automotive (Germany), Plastic Omnium (France), SMP Deutschland GmbH (Germany), Valeo (France).
Expansion is the key strategy adopted by major players to gain traction in this market. For instance, in March 2018, Magna built a new Composites Center of Excellence in Esslingen, Germany, which aims to help European automakers meet increasingly stringent emissions requirements with lightweight structures and exterior components made of advanced materials. New product development is another key strategy adopted by major players to gain traction in this market. In those lines, in September 2015, Plastic Omnium demonstrated its LightAir Bumper concept in IAA 2015, which are active aerodynamic systems that can close grills and deploy a lower spoiler at high speeds, lowering CO2 emissions by 3 g/km for an SUV. The low-density materials and innovative front-end architecture also lowers mass by 10% compared to a traditional bumper.
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Magna is one of the leading players in the aerodynamic market for automotive. It is engaged in various new product development activities related to automotive aerodynamic applications. For instance, in January 2018, Magna displayed its active air dam which will be a part of the 2019 Ram 1500 pickup truck, at the North American International Auto Show in Detroit. The air dam deploys automatically to redirect air around the vehicle and provides emissions and fuel economy improvements. It is the first of its kind on a high-volume production vehicle. Also, in September 2016, Magna accelerated its work on ACTERO Active Aerodynamic Systems which include exterior vehicle systems such as active grille shutters and active front deflectors. Magna's innovative solutions combine styling with aerodynamics to take drag-reduction technology to a new level.
Plastic Omnium is another leading player in the aerodynamic market for automotive. In September 2015, Plastic Omnium introduced a range of improved tailgates known as Higate Premium which are made of a composite frame reinforced with carbon fiber, lowering its weight by 2 kg when compared to composite reinforced with fiberglass, and by 6 kg when compared to a steel frame. Another feature is an active spoiler system that adapts to the car's operating conditions to improve the aerodynamic downforce for better handling.
Related Reports:
Aerodynamic Market for Automotive by Application, by EV Type (BEV and HEV), Mechanism (Active System and Passive System), Vehicle Type (Light Duty Vehicles and Heavy Commercial Vehicles), and Region (APAC, Europe, North America) - Global Forecast to 2025
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