According to a new market research report "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", published by MarketsandMarkets™, the aerodynamic market for Automotive is projected to grow at a CAGR of 4.77% during the forecast period, from USD 23.65 billion in 2018 to USD 32.77 billion by 2025.
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The growing demand for silent vehicles, the stringent emission norms for the automotive industry, and the rise in demand for fuel-efficient and stylish vehicles are collectively expected to drive the Aerodynamic Market for Automotive.
Light Duty Vehicle segment is estimated to be the largest segment of the Automotive Aerodynamic Market
Various technological advancements are being carried out in the light-duty vehicle segment, particularly in the high-end luxury passenger cars that are nowadays equipped with the active aerodynamic system functioning as per the needs of the vehicle. The passive aerodynamic systems market has already been saturated for this vehicle type. Also, the high production volumes of this vehicle type as compared to heavy commercial vehicles is a major factor contributing to the high market share of light-duty vehicles in the automotive aerodynamics market.
Active system is estimated to grow at the fastest rate in the Automotive Aerodynamic Market
Active aerodynamic systems minimize the drag of a vehicle by making modifications in their shape with respect to the operating conditions. For instance, active grille shutter closes when the engine does not require cooling and hence allows the air to freely pass around the vehicle, thus reducing the drag. Such active systems are the latest advancement in the Automotive Aerodynamic Market and have a huge scope of penetration in the economy and mid-priced LDVs as well as in the heavy commercial vehicles (HCVs). Thus, this segment is expected to grow at the fastest rate by 2025.
Asia Pacific: the largest regional market for automotive aerodynamics
The Asia Pacific is estimated to be the largest market for automotive aerodynamics. The Asia Pacific region accounts for about 50% of the global automobile production. The region comprises emerging economies such as China and India along with developed ones such as Japan and South Korea. The growing infrastructural developments in developing countries such as China and India and the increasingly stringent emission regulations are the key factors driving the growth of the Aerodynamic Market for Automotive in the Asia Pacific region.
The report covers all the major players in the Aerodynamic Market for Automotive, including established players such as Magna (Canada), Roechling Automotive (Germany), Plastic Omnium (France), SMP Deutschland GmbH (Germany), and Valeo (France).
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