Press release
Automotive Front-End Module Global Market Trends: is Projected to Surpass $156.54 Billion at a CAGR of 7.0% by 2028 | Denso Corporation, Faurecia SA, HBPO GMBH, Mahle GmbH, Valeo S. A.
Automotive Front-End Module Market
As per the report, the automotive front-end module market size has grown strongly in recent years. It will grow from $112.02 billion in 2023 to $119.56 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The automotive front-end module market size is expected to see strong growth in the next few years. It will grow to $156.54 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
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Increasing Vehicle Production Driving The Growth Of The Automotive Front-End Module Market
The increase in vehicle production is expected to drive the growth of the automotive front-end module market going forward. The growing economy and rising standard of living have changed the purchasing power. While the economic effects of COVID-19 have disrupted the way people live and move around the world, a new way of living is expected to emerge. With social distancing being the best line of defense against COVID-19, there is a sudden increased demand for personal mobility worldwide. Such a surge in demand for vehicle production leads to increasing production and demand for front-end modules. For instance, in April 2022, according to a report published by the European Automobile Manufacturers Association, in 2021, 79.1 million motor vehicles were produced worldwide, a 1.3% increase over 2020. Additionally, according to the Global EV Outlook 2021, consumers spent 120 billion USD on electric vehicle purchases in 2020, a 50% increase over 2019. Therefore, the increasing sales have increased the production of the vehicle, which in turn will drive the automotive front-end module market.
Technological Advancements Driving The Growth Of The Automotive Front-End Module Market
Technological advancements are a key trend gaining popularity in the automotive front-end module market. Major companies operating in the automotive front-end module sector are implementing next-generation automotive front-end technologies into their products, such as advanced head lighting systems, advanced automotive HUD, brake assistance, panel technology, intelligent sensors, and others, making automotive applications reliable, compact, safer, and lower cost. For instance, in April 2021, Samsung, a Japan-based electronics corporation company, introduced PixCell LED, an intelligent headlight system that enhances road safety with adaptive driving beam (ADB) systems. This ADB system improves driver visibility and security, which enhances the overall driving experience at night and in poor weather conditions such as fog or heavy rain.
The automotive front-end module market covered in this report is segmented -
1) By Component: Headlight, Front Grill, Radiator, Condenser, Horn Assembly, Oil Cooler, Other Components
2) By Material: Steel, Composite, Plastic, Other Materials
3) By Vehicle Type: Passenger Cars, Light Commerical Vehicles, Heavy Commercial Vehicles
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Major companies operating in the automotive front-end module market report are Marelli Corporation, Cie Plastic Omnium SE, Denso Corporation, Faurecia SA, HBPO GMBH, Hyundai Mobis Co. Ltd., Magna International Inc., Mahle GmbH, Valeo S. A., Compagnie Plastic Omnium SE, Samvardhana Motherson Automotive Systems Group B. V., SL Corporation, AGS Automotive Systems, Arkal Plastic Products Ltd., Inteva Products LLC, Gestamp Automoción S. A., Flex-N-Gate Corporation, Hella KGaA Hueck & Co., Continental AG, ZF Friedrichshafen AG, Thyssenkrupp AG, Tower International Inc., Martinrea International Inc., Shiloh Industries Inc., G-Tekt Corporation, F-Tech Inc., KIRCHHOFF Automotive GmbH, JTEKT Corporation, Toyoda Gosei Co. Ltd., Benteler Automotive Corporation
Contents of the report:
1. Executive Summary
2. Automotive Front-End Module Market Report Structure
3. Automotive Front-End Module Market Trends And Strategies
4. Automotive Front-End Module Market - Macro Economic Scenario
5. Automotive Front-End Module Market Size And Growth
…..
27. Automotive Front-End Module Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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