Global Automotive Front End Module Market Projected to Touch US$ 122 Billion by 2022

The Automotive Front End Market is riding on the coattails of industry-wide shift toward lighter, efficient, and aesthetically-pleasing features. As automotive front end module garner consumer attention, an opportunity to capture profit potential is in the offing for automakers and suppliers. Modular front ends have modernized the design and assembly of passenger vehicles. OEM production lines from around the world are discarding the conventional piecemeal assembly method, and instead, opting for front-end modules.

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Growing preference to cars built on monocoque architecture is influencing the adoption of automotive front-end modules as they fit well on unibody chassis. Manufacturers of front-end modules are witnessing surplus demand as many OEMs are eliminating their assembly-line steps by outsourcing the entire front end of their vehicle offerings. While their presence in production of compact & mid-size cars is prevalent, automotive front end modules are yet to gain steadfast application in body-on-frame construction of SUVs and large commercial vehicles.

Front end modules are ultra-small built-in modules integrated with various functional components used in wireless front end circuits, such as LTE, Wi-Fi, Bluetooth, and GPS. Murata offers various front end modules for devices and functions, such as modules integrated with filters, RF switches and matching circuits.

According to the Fact.MR report, the global market for automotive front end modules is likely to reach US$ 122 Bn value by the end of 2022, reflecting a steady CAGR during 2017-2022.

Miniaturization of components with smart technology a winning combo

The automotive front end module market is expected to be a major beneficiary of two key trends – miniaturization coupled with the IoT and smart technology. As consumers wish to be connected 24/7 now including in their vehicles, there will be a pressing need for front end module components that have LTE, Bluetooth, GPS, and Wi-Fi connectivity built in. The near-continuous miniaturization of these components will allow them to be seamlessly integrated into the automotive front end module market. However, supply chain constraints can stifle key stakeholders as they might not be able to secure the necessary quantity, leading to a price rise and thereby restraining their ability to be competitive in the automotive front end module market. This can have a negative impact on the overall automotive front end module market that is poised to record impressive growth and reach a value of slightly over US$ 121 billion in 2022, with a steady CAGR.

PC segment to remain much larger than LCV and HCV segment

The PC segment of the automotive front end module market is larger than both the LCV and HCV segment combined and will continue to remain so on account of strong growth rates. The PC segment is anticipated to grow to more than US$ 75 billion in 2022, with a steady CAGR for the same period. The LCV segment of the automotive front end module market should only nudge past a sizeable value in 2022, while the HCV segment will be worth US$ 15 billion by that time. APEJ is the largest market for all three segments of the automotive front end module market and it occupies a market share of nearly one-half in all cases, making it the big behemoth in the automotive front end module market.

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Composite materials beat both plastic and metal by a substantial margin

It certainly seems like the automotive front end module market is moving towards relying almost entirely on composite materials as this segment should grow to US$ 71 billion in 2022. The contribution of the APEJ region with respect to composite materials in the automotive front end module market is forecast to rise to US$ 35 billion within the next five years. Even the metal segment will witness some growth in the automotive front end module market. With a sluggish CAGR from 2017-2022, metals are estimated to be of relatively lower worth by 2022 in the automotive front end module market. Plastics should be somewhere between composite materials and metals in terms of value because the plastic segment is projected to gain more traction by the end of 2022.

OEM’s twice the size of aftermarket channel in automotive front end module market

The OEM channel is likely to grow by US$ 20 billion in the five-year span of the study. The OEM channel will account for largest revenue share of the automotive front end module market. On the other hand, the aftermarket channels are only foreseen to grow to an impressive market value by the end of 2022. Thus, it is recommended that major players in the automotive front end module market target the OEM channel as opposed to the aftermarket one.

Competition Tracking

The report has also profiled key manufacturers of automotive front end modules, which include companies such as Murata manufacturing Co. ltd., Faurecia SA, Denso Corp., MAHLE GmbH, HBPO Group, Magna International Inc., Hyundai Mobis, Plastic Omnium Group, Samvardhana Motherson Automotive Systems Group, SL Corporation, Valeo S.A., and Montaplast GmbH.

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