Passenger Car Aerodynamic Components Market to Reach US$ 13,160.6 Mn at a CAGR of 5.6% in 2027

Passenger Car Aerodynamic Components Market to 2027 - Global Analysis and Forecasts by Mechanism (Active system, Passive System); by Vehicle Type (Electric Vehicle, ICE), by and Application (Air Dam, Diffuser, Gap Fairing, Grille Shutter, Side Skirts, Spoiler, Front Splitter)

Publication Month : Nov 2019

  • Report Code : TIPRE00006123
  • Category : Automotive and Transportation
  • Status : Published
  • No. of Pages : 161
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The Passenger Car Aerodynamic Component market was valued at US$ 8,326.1 Mn in 2018 and is projected to reach US$ 13,160.6 Mn by 2027; it is expected to grow at a CAGR of 5.6% from 2019 to 2027.

The airflow around a vehicle has a stagnation point at the nose and tends to flow over and around the vehicle rather than the under due to the proximity of the ground. How much air goes under is dependent on the ground clearance, the shape at the nose, and the rear-end shape of the body. For drag, it is most important that the shapes are rounded enough to provide attached flow around the body. The separated airflow will always generate more drag than the attached airflow. When a rounded front-end provides the attached flow, the shape of the rear end is what determines the bluffness. It is important to have a pressure recovery over the length of the body and avoid separated flow. Tapering body dimensions, backlight angle, and under-body diffuser angle increase the pressure along the length and leaves a base pressure as high as possible. Lowest drag is achieved with a high base pressure and a small base area. The ultimate goals with improving the aerodynamic drag of a passenger vehicle are to reduce fuel consumption or to increase top speed. The aerodynamic knowledge among engineers is not new, but the tools have become much better, and the level of detail knowledge has increased. Also, the demand for CO2 reduction has focused attention on reducing all kinds of resistance forces, including aerodynamic drag. In recent years, Passenger Car Aerodynamic Components have materialized as a promising technique for achieving higher fuel economy, reduced carbon dioxide emission and better handling ability. Automotive aerodynamic systems have garnered impressive prominence amongst vehicle OEMs such as Audi, BMW, Mercedes, Volvo and Opel among others. Aerodynamic systems have also been recognized by government agencies owing to the reduction of fuel consumption and carbon emission. With hybrid and electric vehicles, there is the possibility to re-use the negative acceleration forces for brake re-generation. This converts the kinetic energy from the car to electrical energy and can be used for propulsion. This system reduces the losses in acceleration forces and makes the aerodynamic drag even more critical for fuel economy.

APAC is expected to be the one of the fastest growing region in the adoptions of Passenger Car Aerodynamic Components market. The APAC region has a huge growth potential with fast growing countries like China and India and developed nations such as Japan. The region is expected to grow at around 5% to 6% this year and accounts for two third of global growth. The current focus towards the development of a solid and a strong manufacturing sector by the Asian countries has boosted the prospects of the automotive manufacturing in the region. There are various positive factors that are expected to drive the growth of passenger car aerodynamic components market in this region. The automotive industry in North America region continues to expand year on year, exhibiting steady growth rate. The region is concentrated with leading automakers, tier 2 and small vehicle manufacturers. The economic rise in the region has a positive impact on the consumption pattern of passenger cars. The demand for passenger cars is constantly increasing in North America region owing to steady economic progression. Owing to the increasing demand from North American mass, the automakers in the region are increasing their production line in order to meet the rising demand. The automotive sector of the EU is considered to be a crucial industry as it significantly contributes to the country’s GDP as well as provides employment to millions of people in the region. EU is the leading producer of motor vehicles, and several premium automotive manufacturers are based in the region. Furthermore, the automotive sector of the region represents the largest private investor in R&D as well as it receives support from the government such as funds for R&D.

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Market Insights

Increasing adoption of electric vehicle is further going to aid the market for aerodynamic components

The aerodynamic performance of an electric car has a significant influence on the power performance, economy, handling stability, and ride comfort of the vehicle. The research about effects on performance caused by the arrangement of the power battery pack is increasing day by day. Because of its large size and weight, it is difficult for the electric vehicle power battery pack to find a suitable space for the layout. Currently, many Chinese electric car manufacturers arrange battery pack in the area of automobile chassis. Restricted by the design of chassis, a bulky battery pack is generally lower down to electric vehicle chassis.

Vehicle Type-Based Market Insights

The global passenger car aerodynamics component market by vehicle type is broadly segmented into electric vehicle and ICE. Aerodynamics play a vital role in defining the range of vehicle from an electric vehicle to a fuel-powered vehicle. Since it directly impacts the energy used by a vehicle to overcome air resistance. Global Fuel Economy Initiative (GFEI) has launched a wide range of policy options from which countries can work towards increasing the fuel economy. Aerodynamics, engines, and powertrains acts as an essential factor in fuel economy improvements. Besides, switching to alternate fuel sources such as promoting electric and zero-emission vehicles are initiatives taken towards fuel economy improvements.

Mechanism -Based Market Insights

The global passenger car aerodynamics component market by mechanism is broadly segmented into active system and passive system. Almost all high-performance road-legal cars now employ not only some sort of rear wing/spoiler to help generate downforce, but also uses a diverse number of active and passive aerodynamic components to help better re-direct the airflow around the car. Aerodynamic is essential for handling and stability, and help the cars to cut a sharper, smaller hole through the air. Progress in mechatronics is making new actuators available; active aerodynamic components are an example. Active aerodynamic components systems help to delineate the comfort and handling as well as enhances energy efficiency and passengers’ safety.

Application – Based Market Insights

The market for passenger car aerodynamic components by application is segmented into air dam, diffuser, gap fairing, grille shutter, side skirts, spoiler, and front splitter. Each of these components has varied and specific applications. Air dam, gap fairing, grille shutter, and front splitter are usually implemented to reduce or increase the drag on the front side of the vehicle. Spoilers and diffusers are implied on the backside of the car to attain absolute aerodynamic forces. Side skirts are employed on the side of the car to reduce turbulence underneath the car. Spoilers are most commonly found in a passenger car and thus holds the lion's share in the market.

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Passenger Car Aerodynamic Components Market: Strategic Insights

Market Size Value inUS$ 8,326.1 Million in 2018
Market Size Value byUS$ 13,160.6 Million by 2027
Growth rateCAGR of 5.6% from 2019-2027
Forecast Period2019-2027
Base Year2019
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Product development is the commonly adopted strategy by companies to expand their product portfolio. Volkswagen Group, BMW AG, ŠKODA AUTO, Audi AG and Porsche AG, among others are the key players implementing strategies to enlarge the customer base and gain significant share in the global Passenger Car Aerodynamic Component market, which in turn permits them to maintain their brand name. A few of the recent key developments are:

  • In 2019, Röchling Automotive opened a new plant in Slovakia, and the new plant would help the company to serve the increasing demand for its products. The site would manufacture active grille shutters, underbody panels, wheel arch liners, and air filters for the global automotive manufacturers.
  • In 2018, Plasman Group opened A.P. Plasman Division in Queretaro, Mexico. The 40 plus million dollar project observes 60,000 square meters distributed in plastic injection molding, assembly, a cultured automotive paintline with a stainless construction and advanced environmental controls.

Passenger Car Aerodynamic Component Market Segmentation:

By Mechanism

  • Active System
  • Passive System

By Vehicle Type

  • Electric Vehicle
  • ICE vehicle

By Application

  • Air Dam
  • Diffuser
  • Gap Fairing
  • Grille Shutter
  • Side Skirts
  • Spoiler
  • Front Splitter

Company Profiles

  • HBPO GmbH
  • INOAC Corporation
  • Magna International Inc
  • Plasman Group
  • Polytec Holding AG
  • REHAU Ltd
  • Röchling Group
  • SMP Deutschland GmbH
  • SRG Global
  • Valeo
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Mechanism ; by Vehicle Type , by and Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

  1. HBPO GmbH
  2. INOAC Corporation
  3. Magna International Inc
  4. Plasman Group
  5. Polytec Holding AG
  6. REHAU Ltd
  7. Röchling Group
  8. SMP Deutschland GmbH
  9. SRG Global
  10. Valeo

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

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  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

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  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

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