Plastic Bumpers Market By Size, Supplier, Demand Analysis, Type, Statistics, Regions and Forecast - 2028

The global plastic bumpers market is anticipated to grow at a CAGR of 4.6% during the forecast period (2022-2028).

A car bumper is a transverse bar that runs in front of or behind the vehicle's body to prevent contact with an obstruction or to absorb the impact of a collision between two cars. An automotive bumper serves as a protection enhancement in the event of a collision, absorbing the impact and perhaps saving the lives of occupants or pedestrians. Bumpers are available in a variety of sectional shapes, from flat to round, tubes to channels, and are composed of steel, wood, or rubberized fabric. Bumpers not only protect the vehicle's passengersbut also aid to improve the vehicle's aesthetic. The global plastic bumper market is fueled by the expanding automotive industry, rising accident rates, rapid urbanization, and rising disposable income, all of which contribute to a desire for personal mobility. The substantial expansion in the manufacturing of passenger automobiles and commercial vehicles is driving the demand for plastic bumpers. According to International Organization of Motor Vehicle Manufacturers (OICA), the production of commercial vehicles in 2021 was 768,017 as compared to 2020 which was 543,178, this shows about a 30 % increase in production.

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As bumpers absorb energy, the materials used to make them must be very absorbent, such as plastic. Steel and aluminum reinforcing bars, as well as springs or hydraulic components, were utilized to safeguard cars a few decades ago. Molded plastic is used to make modern bumpers. As plastic is such a crucial component, manufacturers chose high-performance plastic for bumper production. Vehicles using the right lightweight, high-performance materials can save money on gas. It is anticipated that every 10% reduction in vehicle weight leads to a 5-7% reduction in fuel consumption owing to the benefits associated of using plastic in bumpers is boosting market growth.

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Various types of initiatives taken by companies are propelling the market growth forward. For instance, in March 2021, Mercedes-Benz India introduced the E-Class LWB with a price tag of Rs 63.6 lakh. The new E-Class E 350d AMG-line model features a diamond-studded front grille, sharper 18-inch alloy wheels, AMG front, and rear bumpers, and a special beige-Tropez blue interior upholstery. Moreover, to increase pedestrian safety, automakers such as Volvo and Ford have tested and planned to deploy airbags on bumpers. The focus of automakers on improving the safety rating of their vehicles and promoting sales is driving demand for plastic bumpers. The market for plastic bumpers is expected to rise due to increased competition among automakers and a growing need to improve vehicle safety.

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Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Application

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape- Magna International Inc., MOBIS INDIA Ltd., Plastic Omnium, TONG YANG GROUP, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Plastic Bumpers Market Report by Segment

By Type
• Front Bumper
• Rear Bumper

By Application
• Passenger Vehicle
• Commercial Vehicle

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Orion Market Reports (OMR) endeavors to provide an exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and the most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.

This release was published on openPR.