Automotive Active Aerodynamics Market set to reach US$ 1,113.5 million by 2023
February 20, 2020
Automotive Active Aerodynamics Market Overview:
The global automotive active aerodynamics market is likely to grow at an impressive double-digit over the next five years to reach US$ 1,113.5 million in 2023. Increasing vehicle production coupled with an increasing penetration of active aerodynamic components in newer vehicles, a rise in demand for improved aerodynamics in vehicles, and the implementation of stringent emission norms for reducing carbon emissions in the automotive industry are the major growth drivers of the automotive active aerodynamics market.
The Diverse Stand Points:
The true picture of the market shall not emerge till the time the market is analyzed from various point of views. Each vantage point gives better understanding of the market. The market of Automotive Active Aerodynamics has been viewed from various perspectives such as:
- By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium- & Heavy-Duty Commercial Vehicle)
- By Component Type (Active Grille Shutter, Active Spoiler, Active Rear Wing, Others)
- By Region (North America, Europe, Asia-Pacific, and RoW)
Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.
The answers to the prominent questions which are evinced out of above slicing of the market are:
- Which are the best performing segments of the market?
- Which is the most dominant region?
- Who are the movers and shakers of the market?
- What are the regional growth hotspots?
- What are the segmental growth forecasts?
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Automotive Active Aerodynamics Market Segment Insights:
Passenger Car: The growth engine
The global automotive active aerodynamics market is segmented based on vehicle type as Passenger Car, LCV, and M&HCV. The passenger car is expected to remain the growth engine of the global automotive active aerodynamics market during the forecast period. An increased dependency on active aerodynamic components to achieve better fuel efficiency and to reduce carbon emissions in cars is primarily driving the segment’s market over the next five years.
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Dominance of: Active grille shutter
Based on the component type, the market is segmented into Active Grille Shutter, Active Spoiler, Active Rear Wing, and Others. Active grille shutter is likely to remain the most dominant active aerodynamic component in the automotive industry during the forecast period. Over the last decade, active grille shutter has experienced a tremendous gain in various segments, especially in luxury and premium vehicles. On an average, 20% of the air in front of the vehicles goes below the hood of vehicles and reduces the aerodynamic drag. Active grille shutters perform a vital role in efficiently managing such airflow and improving aerodynamic efficiency.
There are various other active aerodynamic components currently at the development stage for mass usage. These components are also likely to mark their presence in mass-selling vehicle models in the coming years. For instance; recently launched active air dam in Ram 1500 pickup truck is the first such active aerodynamic component being launched in a serial production vehicle model.
A highly/moderately/fragment consolidated Market
The key automotive active aerodynamic component manufacturers are Rochling Group, Magna International Inc., Valeo SA, HBPO GmbH, and SRG Global. The development of new products targeting higher aerodynamic performance, the use of active aerodynamic components in unpenetrated vehicle models, regional expansion, and the formation of long-term contracts are some of the major strategies adopted by the major players in order to remain competitive in the market.
Regional Hegemony of Europe
Europe is expected to remain the largest automotive active aerodynamic components market during the forecast period. Stricter emission norms of European Commission have led to a faster adoption of active aerodynamic components, especially active grille shutter, into the European vehicles. BMW AG, Audi AG, Ford Motors, Daimler AG, Lincoln, Volkswagen AG, Groupe Renault, and PSA Group are some of the key OEMs in Europe, which are increasingly adopting active aerodynamic components in some of their vehicle models.
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Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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