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automotive aerodynamics market
automotive aerodynamics market
DUBLIN, Oct. 8, 2024 (Globe Newswire) — The “Automotive Aerodynamics Market Report 2024” report has been added to ResearchAndMarkets.com’s offering.
The global automotive aerodynamics market has experienced strong growth in recent years. It is expected to grow from $26.81 billion in 2023 to $28.26 billion in 2024, at a compound annual growth rate (CAGR) of 5.4%. The automotive aerodynamics market is expected to grow significantly in the coming years. It is expected to grow to $35.08 billion by 2028 at a compound annual growth rate (CAGR) of 5.6%.
Growth during this historic period was driven by growth in emissions standards, growth in globalization, increased environmental awareness, the rise of hybrid vehicle development, increased consumer demand for performance, and increased demand for high-end luxury vehicles. This is thought to be due to. .
The growth over the forecast period can be attributed to increased demand for automobiles, increased demand for electric vehicles, increased investment in research and development, rising fuel prices, and increasing urbanization. Key trends during the forecast period include technological advances, adoption of advanced computational fluid dynamics, integration of lightweight materials, development of aerodynamically efficient EV designs, and aerodynamic wheels and tires.
The major companies operating in the automotive aerodynamics 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 Corporation, Rehau Group, Rochling Group, Johnson Electric, Autoneum Holding AG, Ariel Limited, Torch Technologies Inc., Sonceboz, Scribd, SimScale, HBPO GmbH, Polytec Holding AG, Batz S Coop, Vectoflow GmbH, and Dynamon.
Driving forces of the automotive aerodynamics market: Rising demand for electric vehicles is driving the growth of the automotive aerodynamics market
Rising demand for electric vehicles is expected to continue to drive the growth of the automotive aerodynamics market. Electric vehicles (EVs) use an electric motor powered by stored electricity for propulsion, rather than an internal combustion engine. The growing demand for electric vehicles is due to environmental awareness, government support through incentives, advances in battery technology, lower operating costs, and efforts to improve air quality in cities.
Vehicle aerodynamics in electric vehicles (EVs) increases efficiency by reducing drag, increasing range and optimizing stability at high speeds, ensuring maximum performance from the energy stored in the battery. Rising demand for electric vehicles is driving the growth of the automotive aerodynamics market.
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Global automotive aerodynamics market trends: Automakers innovate aerodynamic drag reduction systems to improve efficiency and performance
Leading companies active in the automotive aerodynamics market are focusing on developing innovative technologies such as aerodynamic drag reduction systems to improve fuel efficiency, improve vehicle performance, and reduce carbon emissions. Aerodynamic drag reduction systems are technology and design strategies for minimizing the drag a vehicle, aircraft, or other moving object experiences from the air as it moves.
This state-of-the-art system features active flaps integrated into the vehicle’s front bumper and underbody that automatically adjust to optimize airflow based on driving conditions. When the vehicle is traveling at high speeds, the flaps deploy to reduce air resistance and improve fuel efficiency and performance. Conversely, at low speeds or when cooling is required, the flaps retract to improve airflow to the engine and brakes.
Mergers and Acquisitions in the Automotive Aerodynamics Market: Conmet Acquires Xstream Trucking to Improve Fuel Efficiency and Reduce Emissions in Commercial Vehicles
In November 2023, Consolidated Metco Inc., a U.S.-based manufacturer of components for the commercial vehicle industry, acquired TruckLabs for an undisclosed amount. With this acquisition, ConMet expands its portfolio of fuel-saving technologies, brings efficiency benefits to more customers, and leverages its manufacturing expertise to become a one-stop shop to improve the overall efficiency of heavy-duty trucks and trailers. We aim to establish our position as TruckLabs is a US-based company that develops aerodynamic solutions for the trucking industry.
Asia Pacific is expected to be the largest region in the automotive aerodynamics market in 2023 and the fastest growing region during the forecast period. The regions covered in the Automotive Aerodynamics market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the automotive aerodynamics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, and Spain.
Key attributes:
report attributes
detail
Number of pages
175
Forecast period
2024 – 2028
Estimated market value in 2024 (USD)
$17.1 billion
Projected market value to 2028 (USD)
$25.06 billion
compound annual growth rate
10.0%
Target area
global
Competitive environment and company profile
volvo truck
overview
Products and services
strategy
financial performance
Continental AG
Magna International Co., Ltd.
3M company
Valeo SA
Other leading and innovative companies
Plastic Omnium SA
Flex and Gate Co., Ltd.
Hella GmbH & Co.KGaA
Toyoda Gosei Co., Ltd.
Lehau Group
röchling group
johnson electric
Autoneum Holding AG
ariel limited
Torch Technologies Co., Ltd.
sonceboz
sim scale
HBPO GmbH
Polytec Holding AG
Butts S Corp
Main topics covered:
1. Summary
2. Characteristics of the automotive aerodynamics market
3. Automotive aerodynamics market trends and strategies
4. Automotive Aerodynamics Market – Macroeconomic Scenario
4.1. Impact of high inflation on the market
4.2. Impact of the Ukraine-Russia war on the market
4.3. Impact of the new coronavirus infection on the market
5. Global automotive aerodynamics market size and growth
5.1.Global Automotive Aerodynamics Market Driving and Constraining Factors
5.1.1. Market drivers
5.1.2. Market constraints
5.2. Global Automotive Aerodynamics Historical Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Automotive Aerodynamics Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Automotive Aerodynamics Market Segmentation
6.1. Global Automotive Aerodynamics Market, Segmentation by Component, Historical and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
6.2. Global Automotive Aerodynamics Market, Segmentation by Mechanism, Historical and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
active system
passive system
6.3. Global Automotive Aerodynamics Market, Segmentation by Electric Vehicles, Historical and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
battery electric vehicle (BEV)
Hybrid electric vehicle (HEV)
Plug-in hybrid electric vehicle (PHEV)
Fuel cell electric vehicle (FCEV)
6.4. Global Automotive Aerodynamics Market, Segmentation by Vehicle, Historical and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
6.5. Global Automotive Aerodynamics Market, Segmentation by Application, Historical and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
air dam
diffuser
gap fairing
grill shutter
side skirt
spoiler
wind deflector
Other uses
7.Automotive Aerodynamics Market Regional and Country Analysis
7.1. Global Automotive Aerodynamics Market, By Region, Past and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Automotive Aerodynamics Market, by Country, Historical and Forecast, 2018-2023, 2023-2028, 2033, $ Billion
For more information about this report, please visit https://www.researchandmarkets.com/r/1pytla.
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