Shark Fin Antenna Market Size, Share, Growth, and Industry Analysis by Type (OEM, Aftermarket), by Application (Automotive, Heavy truck, Heavy equipment), Regional Insights, and Forecast To 2032

Updated On: 29 April 2024

shark fin antenna market Report Overview

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global shark fin antenna market size was USD 943.26 million in 2022 and the market is projected to touch USD 2376.95 million by 2032 at a CAGR of 9.68% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with shark fin antenna market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over. 

The automotive shark fin antenna is a type of radio antenna found on many modern cars. It is mounted on the roof of the car, approaching the shape of a shark fin. It is mainly used for radio reception and GPS navigation purposes. The market growth can be ascribed to the increasing demand for luxury and premium cars, rising vehicle production, and the growing trend of autonomous vehicles. It is usually a small, streamlined structure that protrudes from the roof of the car and resembles the fin of a shark. The determination of this type of antenna is to progress reception and range for FM and AM signals. These antennas are also designed to decrease drag and wind noise, which can restrict with radio reception. The incorporation of high-end communication technologies has turn into a significant feature in the global automotive industry. Antennas in vehicles assist a wide range of presentations, from receiving satellite-based navigation to making a call. Shark-fin antennas have become the most common element for passenger cars.

Technological advancements have led to the development of shark fin antennas with enhanced capabilities such as satellite radio reception and 4G LTE connectivity. These innovations have enlarged the opportunity of presentations and further contributed to market growth. Consumer preferences are constantly changing and producers must familiarise their products to meet changing fondness. The sectors provide details in terms of numerous outlooks such as end-use industry, product or service type, and any other significant division as per the market’s current scenario which includes several features to accomplish further marketing activity. Participating are fixing their efforts on encouraging R&D. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Technological development are supporting the regional market growth. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact: Pandemic Hampered The Market Due To Unexpected Disruption In The Sector

COVID-19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID-19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

Latest Trends

"Use Of Innovative Products To Boost The Market Growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

shark fin antenna market Segmentation

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• By Type Analysis

According to type, the market can be segmented into OEM, Aftermarket.

Aftermarket will capture the maximum market share through forecast period.

• By Application Analysis

According to application, the market can be segmented into automotive, heavy truck, heavy equipment.

The market players cover segment as automotive will dominate the market share during forecast period.

Driving Factors

"Increase In Demand For Improved Connectivity And Communication To Boost The Market Growth"

The increasing integration of advanced infotainment systems and GPS navigation in vehicles has significantly boosted the demand for reliable and efficient antennas. Additionally, the rising demand for improved connectivity and communication features in cars has further propelled market growth. The demand motivated by the growth of these industry which is anticipated to enhance market growth.

"Technological Advancement And Development To Upsurge The Market"

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the shark fin antenna market growth. Growing investment in research and development activities and growing awareness about benefits of shark fin antenna are expected to deliver profitable opportunities for the market. Technologies enable faster and more reliable communication and entertainment systems. Constant development are one of the trends in the market in variety of practices.

Restraining Factors

"High Cost Of Investment To Hamper The Market Growth"

High cost is hampering development of shark fin antenna market. Investment cost required for the industry is not affordable for all companies. High initial cost of advance automotive antenna are expensive to manufacture and install is depleting the market growth. Technical difficulties will reduce the industry revenue.

shark fin antenna market Regional Insights

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"Asia Pacific To Dominate The Region Due To Rising Demand For Automobiles"

Asia Pacific is further expected to witness growth in the shark fin antenna market share. The region is dominating the market due to rising demand for automobiles. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

Key Industry Players

"Key Players Focus On Partnerships To Gain Competitive Advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger.

List of Market Players Profiled

• Murata (Japan)
• Qorvo (U.S.)
• Yokowo Co. Ltd. (Japan)
• Skyworks (U.S.)
• TriQuint (U.S.)

Report Coverage

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.