PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258836
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258836
According to Stratistics MRC, the Global Air Deflector Market is accounted for $10.26 billion in 2022 and is expected to reach $13.75 billion by 2028 growing at a CAGR of 5.0% during the forecast period. Air Deflector is an accessory that can be installed to parts of a vehicle that are frequently opened while driving. It also lessens noise and keeps out flying debris while preventing the driver and passengers from being buffeted by the wind. Rain, snow, sleet, and even dirt are blown out of the vehicle as a result of the altered aerodynamics, which causes the vehicle to draft outwardly around the product. This helps to keep the side windows clear of rain, snow or dirt when on the road. Also, a lot of automobile sectors employ air deflectors significantly to improve fuel economy and lessen drag. The air deflector allows the car to get fresh air. The fresh air reduces the load on the engine, eases the air conditioning system functions, and improves fuel efficiency.
According to the OICA, the European Union has introduced the Euro 6 emission standards, which will be applicable to all passenger cars and light commercial vehicles from 2014. The Euro 6 standard particularly focuses on restricting diesel NOx emissions.
The expansion of small- and medium-sized businesses globally is anticipated to drive the global air deflector market. The market for active air deflectors is expected to grow as a result of the growing trend toward lighter automobiles, which is forcing automakers to include lighter components into their vehicles. Also, a rise in vehicle sales and production is anticipated to fuel the global market for active air deflectors.
The lack of uniformity in air deflector manufacture causes a great deal of diversity in quality. This makes it challenging for customers to select the best product for their car. Customers ensure that vehicles are free of defects and operational issues. Safety and comfort are the critical factors for any product demand. The lack of standardization hinders the demand of the market.
The worldwide market for active air deflectors is projected to grow as more automobiles are produced across the world that is equipped with more safety features. An active air deflector serves to increase the aerodynamic flow of air below the vehicle, which helps to raise the fuel economy of the vehicle; nevertheless, a rise in the demand for fuel-efficient automobiles will assist to propel the air deflector market globally.
Air deflector uses bulk molded composites as they can be manufactured quickly. The air deflectors need to be more enduring and lightweight. It should be resistant from sun, wind and rain. So, appropriate composites should be used for manufacturing. Yet, the cost of plastics is very erratic, and the price changes of plastic composites are significantly influenced by the cost of crude oil. These variables are impeding market expansion.
The pandemic has hampered the worldwide automobile air deflector market's expansion. Several regional governments enforced a worldwide lockdown, social segregation standards, and closure throughout numerous areas in the first half of 2020. The air deflector supply chain has been hampered worldwide. Yet the big company's ongoing efforts have helped to reinforce the market once again. As a result, it is anticipated that the market would enjoy a larger market share following the pandemic.
The passenger vehicle segment is estimated to have a lucrative growth, due to its numerous adjustable angles. When travelling at high speeds, air deflectors on passenger cars are well built to keep the nose of the car stable and pointing towards the ground. As a result, the driver may operate the vehicle at prolonged high speeds with more assurance. This safety assurance aspect is driving the segment growth.
The window deflector segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its high quality and quick installation. By decreasing wind noise, window deflectors enable passengers to enjoy cool air flowing through the vehicle's windows even in inclement weather. Most of the time, they function by diverting snow and rain away from your window. It shields from UV radiation and stops heat build-up. These aspects are fuelling the segment demand.
Europe is projected to hold the largest market share during the forecast period owing to the rise in the demand for vehicles. Major original equipment manufacturers and tier-1 suppliers with significant facilities for doing research and development on automotive plastic components can be found in Europe. High levels of vehicle manufacturing combined with strict emission regulations were put in place by governments in nations like Germany, France, and Italy. These elements are accelerating the market demand in this region.
Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the increasing demand for safety features in vehicles. The region is home to some of the leading manufacturers of air deflectors such as 3M and Continental. The rising demand for fuel-efficient vehicles in the region is the major factor driving the market growth. China, India, and Japan have huge air deflector production markets. These market players are hugely investing for the expansion of the market.
Some of the key players profiled in the Air Deflector Market include: Robert Bosch GmbH, LUND International, Hatcher Components Ltd, Piedmonts Plastics Inc., Spoiler Factory, HEKO Group, FARD Group, Climair UK Ltd., Rochling Automotive, Magna International Inc., Plastic Omnium, Stampede Automotive Accessory, Altair Engineering Inc, ELLEDI srl and DGA.
In March 2023, Magna International Inc. is planning a new plant in Auburn Hills that would supply seats for future General Motors Co. electric vehicles. The potentially more than $100 million investment is expected to create 500 new jobs.
In January 2023, Bosch, in partnership with advertising agency Bailey Lauerman, launched a new campaign for wiper blades. In the "Night Vision has Evolved" campaign, the mysterious and striking ads highlight the innovative features of Bosch wiper blades to provide optimal night time clarity and enhance safer night driving.
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