Aerodynamic Market | Latest Development and Market Trends By 2025
Added: (Wed Nov 28 2018)
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According to the new market research report “ 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", published by MarketsandMarkets™, The aerodynamic market for automotive is projected to grow at a CAGR of 4.77% during the forecast period, to reach USD 32.77 billion by 2025. The market growth is primarily driven by factors such as the increase in demand for vehicles with lesser noise emissions, the stringent emission norms about carbon emissions, and the rising demand for fuel-efficient and stylish vehicles.
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Increasing stringency of emission norms and regulations has accentuated the need for vehicles that emit a minimum amount of CO2 into the atmosphere. Several companies are carrying out R&D activities to develop advanced aerodynamic applications to improve the efficiency of automobiles and reduce the emissions in the environment. One such advancement in the automotive aerodynamic market is the active aerodynamic systems.
Active aerodynamic systems such as active grille shutters and active rear spoilers come into the picture only when the vehicle’s speed increases to reduce the drag and lift and also maintain the optimum stability of the vehicle. When the vehicle’s speed reduces, these parts restore back to their original alignment.
Leading automotive suppliers such as Magna Exteriors are providing active systems with the objective of reducing drag. Its active grille systems close the shutters when full cooling is not required, and hence the air flows freely along the sides of the vehicle rather than entering inside. By this process of active aerodynamics, the vehicle drag is reduced significantly. These systems are stylish and lightweight, as they are usually made of materials such as carbon fiber. Currently, these systems are predominantly used in luxury vehicles.
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The HCV segment is estimated to be the fastest growing market, in terms of value, in the automotive aerodynamic market. Currently, most of the HCVs have boxy shapes and hence, are not aerodynamically efficient. This is because, for a long time, OEMs have been majorly focusing on the highest carriage capacity while designing these vehicles. Fuel economy has not been a cause for concern with this vehicle type for a long time.
However, with the increasing emission norms specifically formulated for heavy-duty vehicles in various parts of the world, such as North America, the European Union, and Asia, HCV manufacturers have started to drive their attention toward improving the aerodynamics of their models and comply with the emission standards.
In Europe and North America, HCV manufacturers are relying on aerodynamics to improve the fuel economy and stability of their models. There is, however, a lot of scope for the improvement of aerodynamics in HCV in the developing countries.
The aerodynamic market for automotive is dominated by a few globally-established players such as Magna (Canada), Roechling Automotive (Germany), Plastic Omnium (France), SMP Deutschland GmbH (Germany), and Valeo (France).
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The BEV segment is projected to be the fastest-growing segment of the aerodynamic market for automotive. This segment is estimated to have the highest growth potential in the aerodynamic market for automotive, especially in North America, which is projected to have the highest growth in sales of BEVs. With the BEV manufacturers focusing on increasing the vehicle range on a single charge, as well as the exponentially increasing BEV sales around the globe because of the emission regulations, the automotive aerodynamic market for this segment is bound to skyrocket.