Sales Scenario of Automotive Bumpers Market to Remain Positive Through 2023
Automotive Bumper Market to Drive Past US$ 9 Billion by End 2022; Plastic Bumpers Race Ahead of Aluminum Bumpers.
Automotive bumpers (front/rear) come with attachment brackets for safeguarding vehicle in case of low-speed collision and also for safeguarding pedestrians. The fiber or metal bars that are attached to rear or front ends do keep the vehicles away from obstructions. Plus, they do absorb shock generated through collisions between the vehicles. On the basic note, automobile bumpers cover reinforcement bar comprising fibreglass composite, plastics, aluminium, and steel. Along with safety, appearance of vehicles also gets enhanced. This is another advantage of automotive bumpers.
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Fuel-efficient vehicles are being asked for, along with electric vehicles. At the same time, there is a tremendous increase in costs of raw materials like fibreglass. This factor is expected to hinder the automotive bumpers market in the next 10 years. Persistence Market Research has walked through these findings with macros as well as micros to work on, which would help the clientele to plan their subsequent moves.
Automotive Bumpers Market Dynamics
The global automotive bumpers market, by type of product, spans standard/regular, deep drop bumpers, roll pan bumpers, step bumper, and tube bumper.
• By raw material, it's aluminum, plastic, and likewise (rubber, composite materials, and steel).
• By type of vehicle, it's mid-sized vehicle, compact vehicle, premium vehicle, luxury vehicle, commercial vehicle, and heavy commercial vehicle.
• By sales channel, it's aftermarket and OEM.
Persistence Market Research has entailed these facts with future perspectives in its latest market study entitled "Automotive Bumpers Market".
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The Asia-Pacific holds the largest market share with countries like India and China leading from the front. This could be attributed to increase in demand for automotives. North America and Europe are going steady herein and the scenario is expected to remain the same even going forward. Persistence Market Research has, with its team of analysts and consultants, etched these findings with insights in its latest market study entitled "Automotive Bumpers Market".
Persistence Market Research has profiled the key participants of automotive bumpers market as Plastic Omnium SA, Magna International, Inc., Futaba Industrial Co., Ltd., Toyoda Gosei Co., Ltd., Hyundai Mobis Co., Ltd., Flex-N-Gate Corporation, Faurecia SA, Toyota Boshoku Corporation, Toray Industries, Inc., and likewise. They are engaged in various modes of expansion including mergers, acquisitions, partnerships, joint ventures, and new product launch.
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