ALBANY, New York, April 24, 2018 /PRNewswire/ --
According to a new market report published by Transparency Market Research "Air Deflector Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 - 2026", the global air deflector market for automotive is expected to expand at a CAGR of about 4% and is anticipated to surpass the US$ 15 Bn mark by 2026.
The global automotive air deflector market is predicted to expand at a CAGR of about 4% between the forecast years 2018 and 2026, according to a new research report published by Transparency Market Research (TMR). According to the report, the automotive air deflector market is expected to be driven by the enriched look of the vehicle with air deflectors and its ability to allow the fresh air to enter inside the vehicle cabin by partially rolling down the windows. Asia Pacific is expected to be at forefront of the global market, and the market is likely to expand at a CAGR of above 4.0% during the forecast period.
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Enhanced appearance of the vehicle, improved vehicle aerodynamics, marginal but increased vehicle efficiency, and better vehicle control at high speeds are key drivers of the automotive air deflector market. Increased demand for vehicle speed, consumer tendency for SUVs, and consumer preference for efficient and inexpensive vehicle accessories are likely to boost the market in the near future.
Windows air deflectors are mostly preferred by consumers as they are easily available in the market and easy to fit. In North America and Europe, it is mandatory for windows air deflectors and bug deflectors to be transparent, and hence, manufacturers prefer acrylic material to manufacture them. Moreover, windows air deflectors and bug deflectors are made transparent in order to avoid distraction for the driver. The automotive industry in Europe and Asia is has been witnessing an increase in demand for SUVs and family cars for the last few years. SUV owners prefer to have front spoilers on their vehicles as it enhances the appearance of the vehicle. The front air spoiler segment is expected to expand at a CAGR of about 4% during the forecast period owing to the consistently increasing demand for SUVs.
Besides acrylic, the fiberglass material segment is likely to lead the automotive air deflector market. Manufacturers are preferring fiberglass for front air spoilers, roof air spoilers, and bug deflectors owing to its excellent corrosion resistance, superior molding ability, light weight, rich appearance, and cost effectiveness. Therefore, the fiberglass segment of the automotive air deflector market is anticipated to expand at a CAGR of 4.5% between 2018 and 2026.
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Air deflectors can be mounted by different methods; however, among them, the tape-on method is mostly preferred by consumers. In this method, a double-sided automotive grade tape is utilized to stick the deflector over the vehicle surface. There is no need to drill the vehicle surface, which spoils the appearance and body of the vehicle. Therefore the tape-on air deflector segment is predicted to hold a major share of the market owing to its ease of mounting and dismounting. The segment is likely to expand at a CAGR of 4.2% during the forecast period.
Molding is a highly preferred manufacturing process for automotive air deflectors, due to its ease of manufacturing complex shapes, speed of manufacturing, high strength of manufactured component, and cost-effectiveness. This segment is expected to expand at a CAGR of more than 4% during the forecast period. Demand for deflectors, especially for windows air deflectors and front air spoilers, is increasing along with the rise in demand for vehicles. Considering this demand, most OEMs are providing deflectors as a standard or optional components. Consequently, the OEM segment of the market is projected to expand at steady pace during the forecast period. In terms of volume this segment is expected to expand at a CAGR of about 3.4% between 2018 and 2026.
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In this report, the air deflector market is analyzed for passenger vehicles and commercial vehicles. In 2017, in terms of revenue, the passenger vehicle segment held a major share of the air deflector market. Lower number of vehicles per thousand people in Asia Pacific and the countries in Middle East & Africa, increased per capita income and economic stability, and enhanced infrastructure facilities in rural areas, are indirectly boosting the demand for passenger vehicles in these regions. Demand for SUVs has been increasing significantly for the last few years. In 2017, 40% of total passenger vehicle sales in Europe were SUVs. This increase in demand for SUVs is likely to propel the automotive air deflector market in the region during the forecast period.
Asia Pacific held a prominent share of the global automotive air deflector market in 2017. Asia Pacific consists of the world's most populated countries such as China and India, which are significant markets for automotive and related industries. Japan has about 90% of penetration for windows air deflectors, and other types of deflectors also witness a significant demand. Asia accounts for a major share of the global passenger vehicle market. Consequently, Asia Pacific accounted for more than 50% share of the global automotive air deflector market.
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Global automotive air deflector market is experiencing a lack of globally operating players. Most players in this market are operating at local and regional level. Key players operating in the automotive air deflector market include Hatcher Components, Piedmont Plastics, Spoiler factory, DGA, ELLEDI srl - P.I. e C.F., and Lund International. Recently, Hatcher Components have launched smart spoilers that adjusts according to the height of the trailer. The company claims that this spoiler is likely to enhance convenience, as no manual intervention is required.
The global air deflector market for automotive is segmented as follows:
- Global Air Deflector Market for Automotive, by Material
- ABS Plastic
- Global Air Deflector Market for Automotive, by Mounting Method
- Tape-on Deflectors
- Bolt-on Deflectors
- In-channel Deflectors
- Global Air Deflector Market for Automotive, by Manufacturing Process
- Vacuum Forming
- Global Air Deflector Market for Automotive, by Position
- Bug Deflector
- Window Air Deflector
- Front Air Spoiler
- Rear Air Spoiler
- Roof Air Deflector
- Global Air Deflector Market for automotive, by Sales Channel
- Global Air Deflector Market for Automotive, by Vehicle
- Passenger Vehicle
- Commercial Vehicle
- Global Air Deflector Market for Automotive, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
- North America
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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