Market Research Future published a research report on “Global Automotive Bumper Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Global Automotive Bumper Market, By Material (Composite Plastic, Metal and Fiber), By Positioning (Front ends and Rear ends), By End Market (OEM and Aftermarket) and Region – Forecast 2017-2023
Bumper is the one of the important structures in the vehicle. The bumper design must be flexible enough to reduce the passenger and occupant injury and stay intact in low-speed impact. It is designed to prevent and reduce physical damage to the front and rear ends of the vehicles.
The Global Automotive Bumper Market revenue is forecast to reach USD 14,489 Million in 2023 with a CAGR 5.76% in the forecast period.
Bumpers help in minimizing the impact of accidents, thereby improving the safety of occupants. With the surge of automobile customization, bumpers now, are not used as add-ons, to enhance the look of one’s automobile, but also as protection. Recently, preference for plastic bumpers has been more than that of traditional metal. Automobile manufacturers currently prefer using plastic bumpers as they can be used to increase the aesthetic appeal of an automobile. Auto bumper market is growing in Asia-Pacific region with China and India expected to be the most promising markets. Costs associated with the repair or replacing of Auto bumper, acts as a major barrier in the market.
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Market Research Future Analysis:
On the basis material, it includes composite plastic, metal and fiber. Composite plastic holds the largest market share by material types in global automotive bumpers market with a market share of 55.60% in 2016. Based on positioning, the market is segmented into front ends and rear ends. Among these, front end positioning has augmented the largest market in terms of value.
Currently, Asia-Pacific is dominating the market with increasing vehicle production in countries such as India and China and the increasing production capacity. The market in the developing countries is largely driven by economic growth and ongoing industrialization, which is likely to lead to considerable production of motor vehicles and other manufacturing output. North America accounted for the second-largest share in 2016, owing to factors such as large customer base and high disposable income of end-users which fueled the demand for vehicles in the country, thereby positively impacting the automotive bumper market.
The key players of the global automotive bumper market are Toyota Boshoku Corporation (Japan), Plastic Omnium (France), Magna International, Inc. (Ontario), Toyoda Gosei Co., Ltd (Japan), SMP Deutschland GmbH (Germany), Yanfeng Plastic Omnium automotive Exterior Systems Co. Ltd (Shanghai), JiangNan Mould & Plastic Technology Co., Ltd. (Japan), Venture Otto SA (Pty) Ltd. (South Africa), NTF (India) Private Ltd (India) and Fab Fours, Inc. (U.S.).
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Scope of the Report:
This study provides an overview of the market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for Asia-Pacific, North America, Europe and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the market by its material, by positioning, by end market and regions.
- Composite Plastic
- Front ends
- Rear ends
By End Market
- Asia Pacific
- North America
- Rest of World
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