Market Synopsis of Automotive Bumper Market.
The global auto bumper market has been analyzed based on the four segments: material, positioning, end market and end-use in the regions of North America, Europe, APAC and Rest of the World. On the basis of it is segmented into material, it includes composite plastic, metal and fiber. Composite plastic holds the largest market share by material types in global auto bumpers market with a market share of 55.60% in 2016. On the basis of positioning it is segmented into Front ends and Rear ends. The global auto bumper market segmented by front end positioning has augmented the largest market in terms of value. By End Market it is segmented into OEM and Aftermarket. OEM has accounted the largest market share in 2016 for global auto bumper market by end market.
The global Auto bumper market revenue is forecast to reach USD 14,489.0 Million in 2023 with a CAGR 5.76% in the forecast period. The growing awareness for greener technology has been the primary driver transforming the automobile industry. Moreover, rising disposable incomes and vehicle-ownership boosts the market growth. Continuous modernization and technological expansion, significant investment in research and development efforts, government policies are pushing the market towards growth. Focus towards high-quality products & the changing lifestyle of consumers and increasing spending power, enhance the growth of the bumper market for automotive sector. However, the inefficiency of bumpers and fluctuating prices of raw materials acts as a barrier to the growth of Auto bumper market.
The major player operating in the market of global Auto bumper 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.)
Global Auto Bumper market: Segmentation
The market has been analyzed based on the three segments: material, positioning, end market and end-use in the regions of North America, Europe, APAC and Rest of the World. On the basis of it is segmented into material, it includes Composite Plastic, Metal and Fiber. Composite plastic holds the largest market share by material types in global auto bumpers market with a market share of 55.60% in 2016. On the basis of positioning it is segmented into Front ends and Rear ends. The global auto bumper market segmented by front end positioning has augmented the largest market in terms of value. By End Market it is segmented into OEM and Aftermarket. OEM has accounted the largest market share of 75.3% in 2016 for global auto bumper market by end market. The scope of the market has widened over many years owing to the flourishing markets of Asia-Pacific.
Currently, Asia-Pacific is dominating the market with increasing vehicle production in countries such as India and China and is focused on increasing the production capacity, thus driving the market for auto bumper. The government intervened immediately and lowered the VAT rate on small and medium-sized vehicles. Moreover, high production of vehicles, and low manufacturing cost are some of the factors that boost the market in Asia-Pacific. The market in the developing countries is largely driven by economic growth and ongoing industrialization, which is likely to raise the production of motor vehicles and other manufacturing output, considerably. On the one hand, Europe and the U.S. will post strong growth.
The report for Global Auto Bumper Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
