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

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.

Lucrative Regions for Passenger Car Aerodynamic Component Market

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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.

Strategic Insights

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
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