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Sales of Automotive Front End Module Market to Cross US$ 121,000 Mn Revenues by 2022 end

08-05-2021 06:37 PM CET | Tourism, Cars, Traffic

Press release from: Fact.MR

The industry-wide shift towards efficient, aesthetically pleasing, and lightweight features continue to influence the growth of the automotive front-end module market. With growing consumer inclination toward vehicle front-end modules, heavy investments are being made in the automotive front-end module space as manufacturers opt for miniaturization of their products.

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Fact.MR envisages that the demand for automotive front-end modules is projected to expand at a CAGR of 5.1% during the period of forecast, 2017-2022. The steady adoption of automotive front-end modules is likely to translate into sales nearly cross US$ 121,000 Mn by end of the assessment period, according to the report.

Sales of automotive front-end modules are likely to remain concentrated in the emerging economies in the Asia Pacific occluding Japan (APEJ). China, in particular, is expected to cement its dominance in the Asia Pacific excluding Japan's (APEJ) automotive front-end module market owing to the rapidly evolving automotive sector in the country, says the report. Sales of automotive front-end modules in APEJ are estimated to surpass US$ 55,000 Mn by end of 2022, making it an attractive market for stakeholders. Tug of war between North America and Europe is being witnessed in the automotive front-end module market, with the latter having a slight upper hand.

Demand for composite material in automotive front-end module manufacturing is expected to increase at a rapid pace. According to the report, sales of automotive front-end modules from composite material are likely to account for more than 55% of the overall automotive front-end module market. Acceptance of composites in the automotive sector has witnessed a significant spike with the growing demand for lightweight yet durable products. Moreover, the high strength-to-weight ratio of composites coupled with enhanced corrosion resistance and operational feature have furthered their use in automotive front-end module manufacturing. Moreover, sales of automotive front-end modules with composites are also influenced by increasing demand for fuel-efficient vehicles.

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OEMs are likely to remain an attractive sales channel for the automotive front-end module. ORM channel is expected to largely contribute to the growth of the automotive front-end module market during the assessment period, says the report. The aftermarket for automotive front-end modules is projected to grow at a significant pace, albeit at a lower base than OEM. Stakeholders in the automotive front-end module market can expect significant opportunities by tapping the OEM channel in a bid to achieve sustenance and increased profitability.

Increasing production of vehicles coupled with the growing popularity of electric vehicles is expected to drive the growth of the automotive front-end module market. Electric vehicles, particularly in the Asia Pacific excluding Japan (APEJ) region, are paving potential avenues for automotive front-end module manufacturers. Several EV (electric vehicles) manufacturing companies are opting for outsourcing automotive front-end modules in order to reduce operating costs and enhance profits. Manufacturers of automotive front-end modules can leverage this opportunity to enhance their market presence across the globe.

Automotive front-end module sales are expected to remain high in passenger cars, closely followed by light commercial vehicles. In addition, increasing production of passenger cars is expected to offer potential pathways of growth for automotive front-end module manufacturers. Moreover, increasing sales of passenger cars and SUVs in the developed regions of Europe and North America are expected to push the aftermarket for automotive front-end modules in the coming years.

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Chapter 1 – Executive Summary
The automotive front-end module market report begins with an executive summary that includes an overall analysis of the market.

Chapter 2 – Overview
This chapter includes an introduction to the automotive front-end module market. It covers market definition and taxonomy. Moreover, the chapter focuses on various macroeconomic aspects impacting the automotive front-end module market growth.

It also includes intelligence on autonomous vehicles, influence of China, shift to new technologies, disruption in business models, increasing component cost, and innovations in technology.

Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2020/03/25/2006286/0/en/Electric-Vehicle-Sound-Generator-Sales-Majorly-Buoyed-by-Pedestrian-Safety-Concerns-Adoption-in-LCVs-Pegged-at-14-CAGR-by-2029-Says-a-New-Fact-MR-Study.html

Chapter 3 – Automotive Front End Module Market by Vehicle Type
The chapter covers analysis on automotive front end module used across various vehicle types including passenger cars, LCVs and HCVs. The assessment is carried out across all major regions worldwide.

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