Aerodynamic Market for Automotive Size, Share, Trends, Growth, Analysis, Research
Aerodynamic Market for Automotive: Key Highlights
- According to the new market research report “Aerodynamic Market For Automotive by Mechanism (Active System and Passive System), by Application (Spoilers & Wings, Scoops, Air Dams, Splitters & Diffuser, Grille Shutters, Gap Fairing, and Others), by Vehicle-Class (Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2019 to 2027)”, the aerodynamic market for automotive is estimated to reach around USD 35.6 Billion by 2027 at a CAGR of around 4.4% during the review period
- Strict regulations imposed on vehicle noise limits is a key factor to propel the demand for the aerodynamic market for automotive
- However, the high integration cost remains a major restraining factor for the market growth
Aerodynamic Market for Automotive: Key Market Dynamics
- Using aerodynamic components such as gap fairings, side skirts, and wind deflectors can help in lowering fuel consumption in vehicles. Aerodynamic lift process helps in a weight reduction of the vehicle and also reduces fuel consumption which is expected to propel the aerodynamic market for automotive growth during the assessment period
- Noise is an immense ecological problem which also adds danger to human health. Noise can be controlled by using pneumatic silencers, quiet fan technology, and quiet air nozzles from aerodynamic sources
- Increasing usage of aerodynamic components in heavy-duty vehicles are expected to boost the aerodynamic market for automotive in the future
- Maintaining aerodynamic efficiency in new vehicle design is likely to act as a challenge for market growth
Aerodynamic Market for Automotive: Regional Overview
The growth in Asia-Pacific region is attributed to the high production and sales of automobiles and the adoption of electric vehicles, that will penetrate the high usage of the aerodynamic study. Furthermore, stringent regulations in lowering CO2 emission and purchasing power of consumers will drive the market growth. A prominent country like China accounts for the largest automobile share in this region which is expected to boost the growth for the aerodynamic market for automotive.
In Europe, the increasing vehicle production, customers’ preference towards luxury and sports cars have resulted in propelling the aerodynamic market for automotive growth. Moreover, the growing adoption of electric vehicles will boost the market growth. Furthermore, Germany, UK, and France hold the major share for automobile production which indirectly propels the aerodynamic market for automotive growth in this region.
Aerodynamic Market for Automotive: Key Players Overview
- Magna International Inc.:
Magna International Inc. manufactures automotive parts and offers chassis structures, body exteriors, lighting, seating, transmissions, and fuel systems. In April 2019, the company continues to grow its presence in China by starting its production on active aerodynamic grille shutters in its Shanghai plant. Also, Magna started a new plant in Changsha, a joint venture with GAC subsidiary GAC Component Co., Ltd. (GAC Component) produces lightweight, composite liftgates for the fast-growing market.
Valeo is a France-based company that manufactures and designs automotive components. The company supplies clutches, lighting, engine cooling parts, windshield wipers, electrical systems, security systems, electronics, motors and actuators, and connective systems. In December 2019, the company signed up an agreement with Serfac Limited for the production of its new HydroConnectTM blades.
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