passenger car aerodynamic components Market

The global passenger car aerodynamic components market accounted for US$ 8,326.1 Mn in 2018 and is expected to grow at a CAGR of 5.6% over the forecast period 2019-2027, to account for US$ 13,160.6 Mn in 2027.

During the forecast period of 2019 to 2027, the positive growth outlook towards the growing concerns related to fuel economy and Co2 emission is expected to take vehicle drag reduction more seriously by OEMs is expected to drive the passenger car aerodynamic components worldwide. However, the challenges related to high cost and weight associated with passenger car aerodynamic components may restrain the future growth of the passenger car aerodynamic components market. Despite these limitations, the developing active aerodynamic systems for economy vehicles is projected to offer ample growth opportunities for the players operating in the passenger car aerodynamic components market during the forecast period. Some of the leading players in passenger car aerodynamic components market are highly focusing on strategic market initiatives to enrich their production capabilities as well as to expand their geographical presence across the globe. Also, the players are focusing on receiving numerous strategies to focus strongly on the passenger car aerodynamic components market. This, in turn, is contributing to the growth of the passenger car aerodynamic components market.
 
The passenger car aerodynamic components market has been segmented on the basis of mechanism, vehicle type, application, and geography. Based on mechanism, the market has been segmented into active and passive system. Passive system segment represented the largest share of the overall market throughout the forecast period, however, active system segment is expected to be the fastest-growing. Based on vehicle type, the passenger car aerodynamic components market has been segmented into electric vehicle and internal combustion engine (ICE) vehicle. In 2018, ICE contributed a substantial share in the global passenger car aerodynamic components market. Geographically, the passenger car aerodynamic components market is categorized as North America, Europe, Asia Pacific, Middle East & Africa, and South America.
 
APAC held the largest share of the passenger car aerodynamic components market in 2018, and it is expected to continue its dominance during the forecast period of 2019-2027. It has contributed more than 45% to the overall revenue of the passenger car aerodynamic components market in the year 2018. The Europe and North America held the second and third position in the global passenger car aerodynamic components market in 2018 with market shares of >30% and >18%, respectively. The market in North America is anticipated to grow at the highest growth rate from 2019 to 2027. Other developing regions such as the Middle East and Africa and South America are also anticipated to offer ample growth opportunities to the passenger car aerodynamic components market players during 2019-2027.

The overall passenger car aerodynamic components market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the passenger car aerodynamic components market. It also provides the overview and forecast for the global passenger car aerodynamic components market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the passenger car aerodynamic components market. Some of the players present in passenger car aerodynamic components market are Plasman Group, Valeo, Magna International Inc., HBPO GmbH, Röchling Group, INOAC Corporation, Polytec Holding AG, REHAU Ltd., SMP Deutschland GmbH, and SRG Global among others.