Rising Demand in Passenger Car Aerodynamic Components Market Report 2019-2027 | Plasman Group, Valeo, HBPO GmbH, Röchling Group

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

The passenger car aerodynamic components market is led by the APAC region in 2018. APAC led the global passenger car aerodynamic components market with more than 45% share, followed by Europe and North America 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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Global Passenger Car Aerodynamic Components Market – Company Profiles

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

The European automotive industry is densely populated by the well-renowned automakers namely; Volkswagen Group, BMW AG, ŠKODA AUTO, Audi AG and Porsche AG among others. CARS 2020 Action Plan, GEAR 2030 etc. Also, Horizon 2020 by EU focuses on providing funds for R&D on automotive by launching programs such as European Green Vehicles Initiative and programs on ‘Road Transport’, ‘ICT for Smart Mobility’, ‘Factories of the Future’ and ‘Logistics. Thus, due to the continuous R&D by the EU government leads to propel the growth of the passenger car aerodynamic components market. Consequently, presenting tremendous opportunities for the rise in the business of passenger car aerodynamic components market players.

Aerodynamic drag or wind resistance is considered to be of prime concern in vehicle design. The other vital issues being vehicle weight & fuel efficiency. The 21st century, in particular, has observed refinement in vehicle design in terms of the problems relating to aerodynamics. It is worth remarking that reduction of one count of drag i.e., ΔCD = 0.1, explicates into an improvement of the mileage of 2.60 km/ liter. As per the U.S. Department of Transportation (DOT) figures, the United States has approximately 276,100,000 vehicles plying on the roads as recorded during 2018. The high cost and long gestation period imply a notable risk for the automaker. At the contrary, it is clear that technology will play an ever-increasing role as the basis of this global competition, requiring high-quality products that are safe to use and economical to design and manufacture, this increased demand is expected to fuel the growth of global passenger car aerodynamic components market.

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Aerodynamic components associates cost and extra weight with their implementation. This has restricted aerodynamic components to be implemented into lower segments vehicles such as Class A – C. Tough better channeling of air around the car helps in reducing the drag coefficient and increase fuel economy, the components significantly adds towards the overall car’s price. Additionally, the active aerodynamic system incorporates hydraulics and motors for their functioning. This also increases the total weight of the car. Thus, the above-mentioned factors are expected to hinder the passenger car aerodynamic components market across the world.

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Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

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