Overview and Scope
Automotive aerodynamics refers to the study of how air flows around and through vehicles. Its primary goal is to reduce air resistance (drag) and improve fuel efficiency, performance, and stability. This involves designing vehicle shapes to optimize airflow, minimize turbulence, and control lift and downforce. Key elements include streamlined body shapes, underbody panels, and aerodynamic aids like spoilers and diffusers.
Sizing and Forecast
The automotive aerodynamic market size has grown strongly in recent years. It will grow from $26.81 billion in 2023 to $28.26 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to growth in regulatory standards for emissions, growth in globalization, growth in environmental awareness, rise in the development of hybrid vehicles, increased consumer demand for performance, and rise in demand for high-end luxury vehicles.
The automotive aerodynamic market size is expected to see strong growth in the next few years. It will grow to $35.08 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to rising demand for automobiles, rising demand for electric vehicles, increasing investments in research and development, rising fuel prices, and increasing urbanization. Major trends in the forecast period include technological advancements, adoption of advanced computational fluid dynamics, integration of lightweight materials, development of aero-efficient EV designs, and aerodynamic wheels and tires.
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Segmentation & Regional Insights
The automotive aerodynamic market covered in this report is segmented –
1) By Component: Services, Software
2) By Mechanism: Active System, Passive System
3) By Electric Vehicles: Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV)
4) By Vehicle: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
5) By Application: Air Dam, Diffuser, Gap Fairing, Grille Shutter, Side Skirts, Spoiler, Wind Deflector, Other Applications
Asia-Pacific was the largest region in the automotive aerodynamic market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive aerodynamic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising demand for electric vehicles is expected to propel the growth of the automotive aerodynamics market going forward. Electric vehicles (EVs) utilize electric motors powered by stored electricity, rather than internal combustion engines, for propulsion. The rising demand for electric vehicles is due to environmental consciousness, governmental support through incentives, technological progress in batteries, reduced operational expenses, and efforts to enhance urban air quality. Automotive aerodynamics in electric vehicles (EVs) enhance efficiency by reducing drag, improving range, and optimizing stability at high speeds, ensuring maximum performance from the stored energy in their batteries. For instance, in March 2023, according to the International Energy Agency, a France-based intergovernmental organization, the electric vehicle market saw exponential growth, surpassing 10 million sales by 2022, with electric vehicles comprising 14% of all new automobile sales, up from 9% in 2021. Therefore, the rising demand for electric vehicles is driving the growth of the automotive aerodynamics market.
Key Industry Players
Major companies operating in the automotive aerodynamic market are Volvo Truck, Continental AG, Magna International Inc., 3M Company, Valeo SA, Plastic Omnium SA, Flex-N-Gate Corporation, Hella GmbH & Co. KGaA, Toyoda Gosei Co Ltd., Rehau Group, Röchling Group, Johnson Electric, Autoneum Holding AG, Ariel Limited, Torch Technologies Inc., Sonceboz, Scribd, SimScale, HBPO GmbH, Polytec Holding AG, Batz S Coop, Vectoflow GmbH, Dynamon
The automotive aerodynamic market report table of contents includes:
1. Executive Summary
2. Automotive Aerodynamic Market Report Structure
3. Automotive Aerodynamic Market Trends And Strategies
4. Automotive Aerodynamic Market – Macro Economic Scenario
5. Automotive Aerodynamic Market Size And Growth
…..
27. Automotive Aerodynamic Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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