Automotive Bumper Market Insights
Rising Production of Vehicles to Expand Automotive Bumper Market. Material Innovations to Encourage Expansion of Global Automotive Bumper Market. Automotive bumpers play a crucial role in maintaining the safety standards of an automobile. It ensures that the impact on passenger is minimized during a collision. The product is also designed in a way that it remains intact in cases of low-speed collision. These factors have enabled the global automotive bumper market in gaining a quick mileage.
Market Research Future MRFR’s observation indicates that the global market is expected to mark 5.76% CAGR during the assessment period. It also presents an estimation that the valuation of the automotive bumper market will reach USD 14,489 Mn by 2023.
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The rising demand for low-emission vehicles has led to the ongoing trend of auto components. It is also supported by the initiatives taken by the governments to minimize carbon footprint. These factors have boosted the sales of lightweight bumpers. In the near future, these factors are expected to impact the automotive bumper market positively. Also, lightweight auto components assure fuel-efficiency. Rising demand for fuel-efficient technologies is prognosticated to support the expansion of the automotive bumper market in the foreseeable future. Key players, for this purpose, are investing in material innovations. The introduction of materials such as fiber and plastic, to reduce the weight of bumpers without compromising on vehicle safety is projected to catalyze the augmentation of the automotive bumper market in the near future.
The automotive industry is growing at a decent pace due to rising demand for automobiles. The growth of the industry is backed by factors such as rising disposable income, increasing working population, urbanization, etc. These factors have led to a rise in the production of vehicles. It is supposed to bear a favorable influence on the growth of the automotive bumper market. Also, increasing number of road accidents can be considered to drive the proliferation of the market on the global front in the coming years.
Automotive Bumper Market Segmentation
On the basis of material, the automotive bumper market has been segmented into metal, fiber, and composite plastic.
The segments of the automotive bumper market, based on positioning, assessed in the report are front end and rear end.
Based on end market, the automotive bumper market has been bifurcated into OEM and aftermarket. At present, most of the automobile manufacturers purchase bumpers from OEM. In fact, for maintenance or replacement too, OEM is preferred over aftermarket. This, the OEM segment is projected to dominate the marketplace over the next couple of years.
Automotive Bumper Market Regional Analysis:
The geographical analysis of the global automotive bumper market has been studied in this assessment for the following major regional segments – North America, Europe, Asia Pacific, and the Rest of the World (RoW). These segments are then sub-analyzed on a country level basis for further assessment. Asia Pacific, at present, holds the pole position in the market. India and China are two major economies focused on increasing the production of automobiles. The governments are also providing incentives and subsidies to support the automotive industry in these countries. These factors are expected to propel augmentation of the automotive bumper market in the foreseeable future. Low manufacturing cost is the primary driver of the regional market. It is supposed to attract investments from global industry leaders across the forecast period, thus, supporting growth of the automotive bumper market.
Automotive Bumper Market Competitive Dashboard:
Toyota Boshoku Corporation (Japan), Magna International, Inc. (Ontario), Plastic Omnium (France), Toyoda Gosei Co., Ltd (Japan), Yanfeng Plastic Omnium Automotive Exterior Systems Co. Ltd (Shanghai), SMP Deutschland GmbH (Germany), JiangNan Mould & Plastic Technology Co., Ltd. (Japan), NTF (India) Private Ltd (India), Venture Otto SA (Pty) Ltd. (South Africa), and Fab Fours, Inc. (U.S.) are few of the major players of the automotive bumper market.
List of tables
TABLE 1 GLOBAL AUTOMOTIVE BUMPERS MARKET, BY MATERIAL, 2015-2023 (USD MILLION) 30
TABLE 2 GLOBAL AUTOMOTIVE BUMPERS MARKET, BY POSITIONING, 2015-2023 (USD MILLION) 34
TABLE 3 GLOBAL AUTOMOTIVE BUMPERS MARKET, BY END MARKET, 2015-2023 (USD MILLION) 37
TABLE 4 GLOBAL AUTOMOTIVE BUMPER MARKET, BY REGION, 2015-2023 (USD MILLION) 40
TABLE 5 NORTH AMERICA AUTOMOTIVE BUMPER MARKET, BY COUNTRY 2015-2023 (USD MILLION) 42
TABLE 6 NORTH AMERICA AUTOMOTIVE BUMPER MARKET, BY MATERIAL 2015-2023 (USD MILLION) 42
TABLE 7 NORTH AMERICA AUTOMOTIVE BUMPER MARKET, BY POSITIONING 2015-2023 (USD MILLION) 43
TABLE 8 NORTH AMERICA AUTOMOTIVE BUMPER MARKET, BY END MARKET 2015-2023 (USD MILLION) 43
TABLE 9 U.S. AUTOMOTIVE BUMPER MARKET, BY MATERIAL 2015-2023 (USD MILLION) 44
List of Figures
FIGURE 1 RESEARCH PROCESS OF MRFR 16
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH 18
FIGURE 3 IMPACT ANALYSIS: MARKET DRIVERS 20
FIGURE 4 LIGHT WEIGHT VEHICLES SALES (2012-2016) (MILLION UNITS) 21
FIGURE 5 NEW VEHICLE SALES DATA, (2013-2016) (MILLION UNITS) 22
FIGURE 6 IMPACT ANALYSIS: MARKET RESTRAINTS 23
FIGURE 7 FIVE FORCES ANALYSIS 24
FIGURE 8 VALUE CHAIN ANALYSIS 26
FIGURE 9 GLOBAL AUTOMOTIVE BUMPERS MARKET, BY MATERIAL, 2016 (%) 29
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