Rear Spoiler Market Size

Rear Spoiler Market Size

Rear Spoiler Market size valued at USD 3.6 billion in 2017 and is estimated to exhibit over 5.3% CAGR from 2018 to 2024.

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Increasing demand for performance cars with enhanced aesthetic appearance will surge the rear spoiler market size in the forecast timeframe. Vehicle manufacturers are introducing vehicle models pre-equipped with rear spoilers to enhance the traction and improve control in high speed. For instance, in February 2019, Mahindra & Mahindra launched compact SUV model Mahindra XUV 300 equipped with rear spoiler. Moreover, rising per capita income has increased spending on vehicle accessories thereby driving the industry growth.

Automotive manufacturers are continuously involved in extensive R&D to improve the vehicle performance. The rear spoilers reduce the overall drag force that enhances the fuel efficiency. Growing demand of light weight vehicles has triggered the manufacturers and designer to develop advanced spoilers with reduced weight. For instance, in December 2017, McLaren launched McLaren Senna with upward rising rear spoilers. The carbon fiber spoiler weighs 4.89 kg and capable of producing downforce of over 100 times of its weight.

Government authorities and regulatory bodies are formulating design standards, and regulation pertaining to installation of rear spoilers on the vehicles. Department of Planning, Transport and Infrastructure under the Government of South Australia has formulated regulations stating requirements of rear spoilers in aftermarket. It restricts sharp edges in the product that could increase the severity of injuries to other road users.