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(USGovernment-News.Com, December 11, 2018 ) According to recent research "Aerodynamic Market for Automotive by Application, by EV Type (BEV and HEV), Mechanism (Active System and Passive System), Vehicle Type (Light Duty Vehicles and Heavy Commercial Vehicles), and Region (APAC, Europe, North America) - Global Forecast to 2025", The aerodynamic market for automotive is projected to grow at a CAGR of 4.77% from 2018 to 2025. The market is estimated to be USD 23.65 billion in 2018 and is projected to reach USD 32.77 billion by 2025. The key growth drivers of this market are the flourishing demand for faster and sophisticated vehicles, better mileage, weight reduction, and increased stability of the vehicles.
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The active aerodynamic system segment is projected to have the highest growth rate, by value, in the aerodynamic market for automotive by 2025. This is because this is an advanced offering that guarantees higher fuel economy as well as better aesthetics. The price of these systems is currently high but is bound to decrease in the next 5-8 years, with their increasing adoption of mid-priced and economy LDVs as well as luxury HCVs.
Aerodynamic application mechanisms, especially passive aerodynamic systems have become an integral part of light-duty vehicles. While they are primarily incorporated for a reduction in fuel consumption and visual appeal, some LDV manufacturers also have them in their models to stay competitive in the market. Hence, the automotive aerodynamics market is proportionately increasing with the production volumes of LDVs. Thus, the LDV segment has the highest market share in the automotive aerodynamics market.
The sales of the BEV segment is expected to grow at a brisk speed by 2025 because of the depleting fuel resources around the world and the push from OEMs to promote their EV models to cater to the emission standards. The automotive aerodynamic market is thus expected to the highest for the BEV segment.
The grille segment is estimated to be the largest segment in this market, by an application. This is because, all the vehicle types, be it ICE vehicles, i.e., LDVs and HCVs, or EV types, i.e., BEVs and HEVs, are equipped with grilles that primarily serve the cooling requirements of engines. The latest development in these grilles known as the active grille shutter is the most commonly used active aerodynamic system in LDVs. All these factors contribute to the highest market share of this application in the automotive aerodynamics market.
The Asia Pacific region is estimated to dominate this market, by volume as well as value. The Asia Pacific region currently accounts for more than 50% of the global automobile production. The increase in disposable income in developing countries such as India and China and the growing stringency of emission regulations are the key factors driving this market in this region.
Some of the key players in the aerodynamic market for automotive are Magna (Canada), Roechling Automotive (Germany), Plastic Omnium (France), SMP Deutschland GmbH (Germany), and Valeo (France).
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