Magna International (Canada) and Samvardhana Motherson Peguform (Germany) are the Key Players in the Rear Spoiler Market
Increasing demand for vehicle aesthetics and stringent emission norms have boosted the demand for rear spoilers. As a result, the rear spoiler market is estimated to witness high growth in developing countries such as Mexico, India, and China. The market growth in these countries can be attributed to a significant increase in the production of Hatchbacks, SUVs, and MPVs.
The global rear spoiler market is projected to grow at a CAGR of 7.40% from 2017 to 2022. Asia-Pacific and North America are expected to witness a significant growth of the rear spoiler market during the forecast period. The market growth in these regions can be attributed to stringent emission norms and increasing penetration of electric vehicles in emerging markets such as China, Japan, and India. Asia-Pacific is estimated to account for the largest share of the rear spoiler market, followed by North America, Europe, and the Rest of the World (RoW). China is estimated to have the largest share of the rear spoiler market for Asia-Pacific.
The automotive rear spoiler market is dominated by global players and a few regional players. Some of the key market players are Magna International (Canada), Samvardhana Motherson Peguform (Germany), AP Plasman (U.S.), ABC INOAC Exterior Systems (U.S.), and Thai Rung Union Car Plc., (Thailand). Magna International (Canada) is one of the leading manufacturers of rear spoiler and has developed an active rear spoiler, which changes the angle according to the speed of the vehicle. The active spoiler changes its angle with high precision with the assistance of the electronic control unit.
SRG Global, headquartered in the U.S., is an automotive exterior component manufacturing company. It was originally founded in 1932. SRG Global specializes in providing solutions for greater surface durability, structural integrity, enhanced functionality, vehicle efficiency, and optimal design flexibility. The company offers automotive exterior components such as front and rear spoilers with different molding techniques. In 2015, the company expanded its Irapuato, Mexico plant that will support the production of high-value coatings on plastics. Since first starting production in 2012, the company has supplied parts for more than one million vehicles and is expected to double that figure by the end of 2017.
Another key market player is AP Plasman, which is one of the largest suppliers of rear spoiler in North America. The company is trying to expand its global footprint through acquisitions and expansions. In 2016, AP Plasman acquired Plastal Industri (Sweden), which is a leading Tier 1 supplier of engineered thermoplastic bumper modules, exterior trim, and plastic parts for passenger cars and heavy commercial vehicles. The company manufactures a wide range of innovative injection molded and surface treated exterior plastics including complex bumper systems, spoilers, and sill covers. This acquisition will help AP Plasman to expand its customer base in Europe.
Other major players in the automotive rear spoiler market are focusing on expansion and acquisitions to achieve continuous and sustainable growth. This is evident from several expansions and acquisitions these companies have undertaken in recent years.
Related Reports:
Rear Spoiler Market by Fuel (ICE, BEV), Vehicle Type (Hatchback, SUV, MPV), Material (ABS, Carbon Fibre, Fibre Glass, Sheet Metal), Technology (Blow, Injection and Reaction Injection Molding), and Region - Global Forecast to 2022
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