PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1460724
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1460724
The air deflector market was valued at USD 11.9 billion in 2023, and it will rise to USD 14.9 billion, powering at more than 3% compound annual growth rate, by 2030.
The growth of this industry is mainly because of the increasing acceptance of fuel-efficient vehicles along with greater driving comfort. Furthermore, manufacturers provide various designs as well as materials like ABS, fiberglass, and acrylic. These components not only improve the interior section by inhibiting exterior elements but also offer a better look to the automobile.
In addition, the rising consciousness about aerodynamics, coupled with the flourishing automotive sector, is aiding the industry expansion.
Moreover, safety is the main priority for vehicle owners, and air deflectors assist in this regard by decreasing wind noise and turbulence. The requirement for them is likely to surge particularly in regions with adverse weather conditions, as customers become more informed of the safety advantages provided by them.
A major trend being witnessed in this industry is the acceptance of advanced materials. Manufacturers are trying to enhance the efficiency, durability, and performance of these components by integrating advanced materials like lightweight composites, high-strength plastics, and carbon fiber.
These materials not only deliver greater aerodynamics, decreased weight, and corrosion resistance, which positively impact fuel efficiency as well as overall performance, but also improve the durability of air deflector systems.
Market Insights
The acrylonitrile butadiene styrene (ABS) category accounted for the largest share in 2023, of approximately 45%. Acrylonitrile butadiene styrene is extensively employed because of its cost-effectiveness, low weight, versatility, easy molding, accessibility in different textures & colors, and exceptional impact resistance.
Fiberglass will advance at the fastest rate, of 3.8%, in the years to come. Fiberglass is extensively adopted because of its strength, versatility, thermal stability, and impact resistance.
The window category led the industry in 2023, with a 50% share. This component is extensively adopted as it serves both aesthetic and functional purposes, improving the overall look of the car.
The sunroof category will advance at the fastest rate, of 3.6%, in the years to come. It is widely used to enable a quiet and better cabin experience, allowing occupants to enjoy the benefits of an open sunroof without experiencing excessive wind disturbance.
The passenger cars category accounted for the larger share in 2023, of approximately 75%. Air deflectors are extensively employed in cars to enhance fuel efficiency, aerodynamics, and aesthetics, all of which are valued by consumers nowadays.
The aftermarket category was the largest contributor to the industry in 2023, with approximately 80% share. This can be because aftermarket units provide various designs, aesthetics, prices, and materials to vehicle owners.
APAC led the industry in 2023, with approximately 55% share. The region is home to many tier-1 suppliers and original equipment manufacturers with sizable facilities for R&D on automotive components.
The prevalence of small & mid-sized automobiles in regional cities boosts the requirement for aerodynamic solutions, making air deflectors a suitable selection for customers who like to enhance fuel efficiency and their comfort level.
The air deflector industry is quite competitive, and key players are focusing on meeting the changing industry and customer demands; developing innovative products, and building strategic alliances.